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Abrasive Paper Market to Reach $6,583.65 Million, Globally, by 2032 at 4.32% CAGR: Allied Market Research

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Allied Market Research published a report, titled, “Abrasive Paper Market by Type (Dry Abrasive Paper, Sponge Abrasive Paper, Wet Abrasive Paper, Dust Free, Others),  Abrasive Grain (Aluminum Oxide, Silicon Carbide, Zirconia Alumina, Diamond, Others), and Application (Wood Processing, Automotive Polishing, Metal Polishing, Painting and Finishing, Electronic Product, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global abrasive paper market was valued at $4,404.21 million in 2022, and is projected to reach $6,583.65 million by 2032, registering a CAGR of 4.32% from 2023 to 2032.
Prime determinants of growth
The global abrasive paper market is experiencing growth due to several factors such as surge in metal fabrication and metalworking industries, and expansion in automotive and aerospace sectors However, raw material price volatility in abrasive paper hinders the market growth to some extent. Moreover, the abrasive paper market is witnessing promising opportunities propelled by ongoing advancements in abrasive technology. These innovations represent a pivotal force that drive the market growth and offers enhanced performance, efficiency, and versatility in abrasive paper applications across various industries. In addition, the continuous evolution of abrasive materials and manufacturing processes contributes to the development of high-performance abrasive papers which meets the evolving needs of end-users.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A62588
Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

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Base Year

2022

Market Size in 2022

$4,404.21 million

Market Size in 2032

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$6,583.65 million

CAGR

4.32 %

No. of Pages in Report

270

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Segments Covered

Type, Abrasive Grain, Application, and Region.

Drivers

Surge in metal fabrication and metalworking industries
Expansion in automotive and aerospace sectors

Opportunity

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Integration of abrasives in 3D printing

Restraint

Raw material price volatility

Dry abrasive paper segment to maintain its dominance throughout the forecast period
By type, the dry abrasive segment held the highest market share in 2022, accounting for one-third of the global abrasive paper market revenue and is estimated to maintain its leadership status throughout the forecast period. The continuous evolution and innovation in manufacturing processes increase the demand for dry abrasive paper. As industries such as automotive, woodworking, and metalworking, adopt advanced technologies and machinery, the demand for dry abrasive paper with improved abrasion properties, durability, and precision increases. In addition, the compatibility of dry abrasive paper with automated systems and high-speed machinery is crucial for enhancing overall efficiency in industrial applications.
Aluminum oxide segment is expected to lead the trail throughout the forecast period
Based on the abrasive grain, aluminum oxide segment held the highest market share in 2022, accounting for less than two-fifths of the global abrasive paper market revenue and is estimated to dominate during the forecast period. Aluminum oxide has a crucial role in its prominence in abrasive paper manufacturing. It is available in various grit sizes, enabling the production of abrasive papers suitable for tasks ranging from coarse material removal to fine finishing. This versatility makes aluminum oxide abrasive paper adaptable to diverse applications within industries such as metalworking, woodworking, and automotive, meeting the specific requirements of each task.
Procure Complete Report (270 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3OdB0Ev
Wood processing segment to maintain its dominance throughout the forecast period
Based on the application, wood processing segment held the highest market share in 2022, accounting for more than one-fourth of the global abrasive paper market revenue and is estimated to dominate during the forecast period. The versatility of abrasive paper makes it an indispensable tool in wood processing applications. Whether its sanding, polishing, or removing imperfections, abrasive papers are tailored to address diverse requirements across different wood types and manufacturing stages. This adaptability enhances the overall flexibility of wood processing operations that allow manufacturers to achieve a wide range of finishes and textures.
Asia-Pacific is expected to grow faster throughout the forecast period
Based on region, Asia-Pacific was the fastest growing region in terms of revenue in 2022 representing 4.63% of the CAGR. The increase in adoption of advanced technologies and automation in manufacturing processes across Asia-Pacific has led to a higher demand for precision and efficiency in surface treatment. This drives the need for abrasive papers with specific characteristics such as consistent grit size, durability, and suitability for automated machinery. In addition, the expansion in automotive industry plays a significant role in the demand for abrasive paper. As the automotive sector continues to grow and upgrade its manufacturing processes, there is a heightened requirement for abrasive papers used in tasks such as paint preparation, bodywork finishing, and polishing.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/abrasive-paper-market/purchase-options
Leading Market Players:

3M
Bosch Limited
Deerfos
Hermes Schleifmittel GmbH
Klingspor AG
Mirka Ltd
MISUMI Corporation
Saint-Gobain
sia Abrasives Industries AG
VSM AG

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The report provides a detailed analysis of these key players in the global abrasive paper market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Henry Zhang, Chairman & CEO of TUGE Technologies, Delivers Keynote at MWC 2024 on Mobile IoT Trends

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At the Mobile World Congress (MWC 2024) held in Shanghai, Henry Zhang, Chairman and CEO of TUGE Technologies, delivered a keynote speech titled “Globalization of IoT Industry.” He discussed the future directions of the mobile Internet of Things (IoT) industry and showcased TUGE’s pioneering innovations and real-world applications in the fusion of artificial intelligence (AI) and globalization.
In his address, Mr. Zhang stated, “Globalization and AI represent the inevitable trajectory for the advancement of mobile IoT.”
Founded in 2013, TUGE Technologies has become a leading mobile IoT platform provider globally, dedicated to delivering high performance, efficient and cost-effective connectivity and management solutions. The company has rapidly expanded across Europe, Japan, Australia, the US, and Southeast Asia, forming partnerships in over 50 countries and setting a benchmark in the mobile IoT field.
With over two decades of combined experience in ICT technology, marketing, strategy and innovation in both Chinese and Western contexts, Mr. Zhang believes that the AI-driven era places greater emphasis on localization. For overseas operations, deepening localization efforts in strategic markets is crucial. Robust global communication infrastructure and comprehensive mobile IoT platforms are vital for widespread application scenarios.
During his speech, Mr. Zhang addressed the six key challenges in enhancing mobile IoT performance and shared TUGE’s innovative solutions. Addressing the requirement of high-performance global communication capabilities for wide application scenarios, the company has transformed mobile IoT architecture to optimize communication performance and improve the performance-to-price ratio. TUGE’s cloud communication platform integrates over 300 global operators, providing extensive network coverage in more than 200 countries and regions, and facilitating multi-country, multi-network synergies. Leveraging its proprietary intelligent operation platform, TUGE dynamically optimizes networks to meet the specific needs of each terminal. Additionally, with the innovative vSIM+eSIM convergence solution, TUGE offers a combined hardware-software global communication solution for business intelligent terminals that can be applied anywhere, accelerating market entry and enabling companies to succeed internationally.
The post Henry Zhang, Chairman & CEO of TUGE Technologies, Delivers Keynote at MWC 2024 on Mobile IoT Trends appeared first on HIPTHER Alerts.

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60% of finance professionals plan to leave the sector as they advise Gen-Z to look for job opportunities elsewhere

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Medius research has found 60% of financial professionals are looking for a new job outside of the sector, as employees say the profession hasn’t kept pace with changing expectations. When asked if finance professionals would recommend a job in the sector to Generation-Z (those born between 1996 and 2010), 60% of respondents said they wouldn’t recommend it to the younger generation. The reason why? According to those in the sector, other fields now offer better compensation (53%), they’ve experienced high levels of burnout and poor work-life balance (53%), and a career in finance offers less security and stability than in previous years (38%).
Administrative responsibilities and repetitive tasks are two issues which are blighting the profession. 87% of finance pros say they are responsible for replying to vendor emails, taking up 8 hours per week. Additionally, 92% are responsible for approving invoices, with most saying they approve 13 invoices per day.
The new findings released today by fintech, Medius, paint a worrying picture for business leaders in terms of both talent recruitment and retention.
Paul Ellis, UK MD, Medius says: “The new findings released today highlight a concerning trend for finance professionals, with many considering employment options in other sectors. Our data also found that only 25% recommend a job in finance to Gen-Z. Burnout, poor work-life balance, and better opportunities elsewhere are all driving this trend.”
Zeeshan Malik, an ex-finance professional says: “Having first hand experience in the finance sector’s highly bureaucratic environment, these findings deeply resonate with me. Although the work was important, it involved repetitive and mundane tasks, unfortunately for which the compensation was subpar. The relentless pressure and overwhelming hours often left me and my colleagues struggling to maintain a work-life balance, leading to severe burnout. My decision to leave finance was driven by the pursuit of a healthier, more fulfilling life. The industry must adapt to modern workplace expectations and undergo significant changes to retain its talent and appeal to the next generation, or it risks losing young professionals like myself.”
As financial professionals leave the sector, businesses are left worryingly vulnerable to fraud. 44% of finance professionals say their finance team alone is responsible for protecting the business against fraud, while 44% report invoice fraud as the most common type of fraud their business faces.
Furthermore, the survey found that businesses dealt with approximately 13 cases of invoice fraud each year, and when asked to quantify the financial loss to their business, financial professionals estimated it came to an average of £104,000 in the UK and $93,000 in the US.
A professional exodus also leaves businesses vulnerable to compliance issues and reduced operational efficiency. For instance, 33% of invoices require manual intervention despite current automation efforts, and 19% of finance professionals are unable to close their books on time, with the principal issue being paying supplier invoices.
However, it’s not all doom and gloom. As HR functions and operations address recruitment and retention for finance professionals, positives can also be found in the use of technology. As AI and automation is implemented across businesses, 54% say they have more time for innovative strategies, and 93% are satisfied with their organization’s adoption of AI.
For more information on finance teams and to read the full Financial Census report visit https://www.medius.com/financial-census/.
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Bybit Web3 and Ignition Join Forces to Bridge the Gap Between Bitcoin and Ethereum

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Bybit, the world’s second-largest web3 platform by trading volume, breaks down barriers between Bitcoin and the Ethereum Virtual Machine (EVM) ecosystems with its partnership of Ignition. Supported by core contributors Mantle and Antalpha Prime, Ignition is paving the way for a low-friction and interoperable future. It extends Bitcoin’s functionality beyond its traditional role as a store of value and transforms it into a reliable asset for cross-chain integrations and diverse yield opportunities.
Bybit Web3 Wallet will support FBTC, an omnichain Bitcoin asset pegged 1:1 to BTC, introduced by Ignition. This strategic collaboration empowers users to unlock the full potential of Bitcoin within the thriving EVM ecosystem, reflecting Bybit Web3’s philosophy of openness, simplicity, and equality.
“We are thrilled to partner with Ignition, which aligns with Bybit’s mission to provide users with innovative and seamless DeFi solutions. By integrating Ignition and FBTC, we are not only enhancing liquidity and interoperability but also paving the way for a more inclusive and dynamic crypto ecosystem,” added MK Chin, Bybit Web3 Evangelist.
FBTC: Bridging the Divide between Bitcoin and non-Bitcoin Ecosystems in Web3
Introduced by Ignition, FBTC is an omnichain Bitcoin asset pegged 1:1 to BTC aimed at elevating Bitcoin’s accessibility and utility. As a secure, decentralized, and composable liquid Bitcoin asset with deep liquidity, $FBTC can be used at scale and easily integrated into various yield enhancement strategies like liquidity pooling, collateral, and staking.
Under Ignition, $FBTC’s growth will be driven by a comprehensive roadmap and strong developer support, ensuring its long-term success and sustainable growth.
Bybit Web3: A Partnership for Enhanced DeFi and User Opportunities
Bybit is at the forefront of adopting the Ignition ecosystem, reinforcing Bybit’s commitment to pioneering innovative solutions for the crypto community. Bybit Web3 users will now have access to a multitude of products and opportunities within the burgeoning Ignition space.
This integration unlocks a range of benefits for users:

Enhanced Liquidity: FBTC opens the door to increased liquidity, allowing users to trade and invest in Bitcoin with greater ease within the EVM ecosystem.
Diverse Yield Opportunities: Users can explore a variety of attractive yield-generating strategies with FBTC, maximizing the earning potential of their Bitcoin holdings.
Seamless Interoperability: FBTC bridges the gap between various blockchain networks, ensuring users can move their assets freely and efficiently.

Coming Soon: Swap and Staking on FBTC
Bybit Web3 users can look forward to using their Bybit Web3 Wallet to swap and stake on FBTC in the later half of July. For more information, please visit: https://www.bybit.com/en/web3/home
#Bybit / #TheCryptoArk / #BybitWeb3
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