Strong Demand in Developing Countries Drives the Global Alumina Zirconium Oxide Abrasives Market

Abrasives are hard materials used for grinding, honing, lapping, finishing, polishing, pressure blasting or barrel finishing. Abrasives are extensively used in a broad range of industries including aerospace, automotive, construction/renovation, medical and electronics. As a result, market for abrasives is highly variable and dependent on factors such as economic conditions, growth in GDP, consumer purchasing power, and the overall health of end-user industries. 

Alumina zirconium oxide abrasives are commonly utilized for grinding metals such as carbon steel, stainless steel, tough bronzes, various exotic alloys, gray malleable, ductile and nodular cast iron, aluminum, titanium, and others. As alumina zirconium abrasives form an integral part of the abrasives industry, trends and developments in the abrasives industry significantly influence demand dynamics in the alumina zirconium abrasives market.

The 2007-2009 world economic recessions took its toll on the abrasives industry with several end-use industries adversely impacted by the financial crisis and reduction in consumer spending, particularly in the developed economies. The construction and the automobile industry, two of the most important users of alumina zirconium abrasives, were the worst affected by the recession. Cancellation, postponement, and general weakness in new office, commercial and residential building projects as a result of lack of credit and rising vacancy rates, and sharp falls in the number of applications for new building permits, and cost cutting among commercial establishments, and companies, played instrumental roles in negatively impacting demand in the US. Demand in the country’s automotive/transportation industry witnessed hurting declines as a result of lower purchasing power and the resulting postponement of new car purchases, decline in per capita automobile travel and volatile fuel prices. 

Market for metal fabrication tools, including cut-off wheels and grinding wheels is forecast to be driven by the resurgence in end-use markets in developed countries and strong demand from developing nations. Technology advancements in solar panel manufacturing aimed at capacity enhancement of photovoltaic cells as a result of increasing demand for solar energy is expected to be an important growth driver in the coming years.

Click http://www.iabrasive.com/products to know more.