Global Abrasives Market to Reach US$51,389.7 Million by 2019

Transparency Market Research has announced the release of a report titled "Abrasives (Bonded Abrasives, Coated Abrasives, Raw Superabrasives, Steel Abrasives, Loose Abrasive Grains and Others) Market for Machinery, Electrical & Electronic Equipment, Transportation, Metal Fabrication and Other End-user Industries - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". According to the report, the global abrasives market valued at $US35,203.6 million in 2012 will reach a value of US$51,389.7 million by 2019 with a 5.5% CAGR during 2013-2019 forecast period. 

The growth of abrasives market will be fueled by rising demand for automobiles, expanding medical device market, and increasing production of electronic equipment. Demand for abrasives in 2012 was noted at 13,939.7 kilo tons. However, factors such as stringent government restrictions about use of silica abrasives and volatile raw material prices will restrain this market's growth. The global abrasives market will benefit from the increasing garnet use in abrasive blast cleaning and water jet cutting technology. 

The global abrasives market according to products is segmented into bonded, coated, raw, steel, loose grains and others abrasives. In 2012, bonded abrasives sector held the largest share of the market followed by coated and loose grains abrasives. Bonded abrasives segment generated revenue of US$12,278.3 million in 2012, and will reach a value of US$16,719.7 million in 2019. By end-users, the abrasives market is segregated into machinery, transportation, electrical and electronic equipment and others. The machinery segment lead abrasives market in 2012 with 23.8% demand globally, and is expected to grow from US$8,586.7 million of 2012 to US$12,418.5 million in 2019. Geography-wise, the abrasives market is divided into North America, Asia Pacific, Europe, and RoW. Asia Pacific dominated the market in 2012 with 55.8% of the global volumes consumed, followed by Europe.