Global Market for Abrasives to Reach 43.8 Billion by 2017

According to iAbrasive report, a new market research from British Chamber of Commerce indicate that in 2011 global abrasives market value was 33.4 billion dollars. It is predicted that the number is likely to reach 43.8 billion dollars. From 2011 to 2017, GACR is 4.6%.

Abrasives have established a favorable global market. Abrasive products and technologies also have a long history and gradually enlarges its business scope. According to British Chamber of Commerce, in the nest few decades, we will see new technologies emerging in the market and create a blueprint for abrasive products.

Abrasive global market is mainly defined as two parts: fist, it is composed of companies and enterprises who produce and refine abrasive grains; second, fields that abrasives can be applied in; those abrasives have all kinds of usages, like grinding, cutting and polishing. Meanwhile, there are some global companies that operate two parts and usually sell their abrasive grains to other abrasives manufacturers.

Overall evaluation of the market research reveals that abrasives industry is closed related with overall economic situation. In 2011, abrasive global market value was 89 billion dollars, and it will be 109 billion dollars in 2017. From 2011 to 2017 GACR is 3.4%. while abrasives market is slightly faster than abrasive grains in growth, which increased from 24.5 billion dollars in 2011 to 32.9 billion dollars in 2017, GACR is 5.0%.