Demand for Abrasives Worldwide Is Projected to Grow 6.1% Annually

According to the latest Freedonia report, the abrasives market will reach $44.7 billion in 2015. Product sales will be fueled by increasing consumer demand for goods such as automobiles, appliances and electronics, and supported by an acceleration in fixed investment expenditures.

The largest gains will be seen in nations such as China, India and Thailand. China passed the US as the largest market for abrasives during the 2005-2010 period and is expected to account for over one third of total global demand in 2015.

Metallic abrasives, loose grains and powders to be fastest growing segments. Demand for loose grains and powders is forecast to expand the quickest of any non-metallic abrasive type, prompted by rapidly rising levels of integrated circuit manufacturing, especially photovoltaic cells. Metallic abrasives are used in primary metal production, as well as in several metal fabrication processes, and are expected to register the fastest gains of any product segment going forward as developing nations continue to demand huge volumes of steel. Coated abrasives, which are used in a variety of applications, including automotive, aerospace and machinery manufacturing, will see increases similar to those in the overall manufacturing market. Superabrasives, used most often in a bonded form, are quickly gaining favor with manufacturers because of their long life and high performance.

Abrasives consumed in durable goods manufacturing accounted for more than 70 percent of total demand in 2010. The transportation equipment market will post the strongest gains through 2015, due to a pickup in motor vehicle output and strong growth in global aerospace manufacturing. Electrical equipment and electronics manufacturing markets are likewise forecast to rise at an above-average rate.

Saint-Gobain (France) and 3M (US) were the two largest producers of abrasive products in 2010. The abrasives market as a whole is highly fragmented, with small and mid-sized producers that focus on specific applications, customers and products, accounting for muchof the industry output.

This study analyzes the world abrasives industry. It presents historical demand data for the years 2000, 2005 and 2010, with forecasts for 2015 and 2020 by product (nonmetallic, metallic), market (e.g., durable goods manufacturing, cleaning and maintenance), raw material, world region and major country. The study also considers market environment factors, details industry structure, evaluates company market share and profiles industry players. The report profiles 35 global players such as Cabot Microelectronics, Carborundum Universal, Saint-Gobain and 3M. 

From: http://www.abrasiveshub.com/industry_news/article/1002/demand-for-abrasives-worldwide-i/