China is to account for over half of demand of abrasives in 2015.
Zhengzhou,China (PRWEB) February 13, 2014
iAbrasive, an international marketplace for the online purchase and sales of abrasives products, recently provided a simple analysis on the world abrasive market, the result of which shows that China is to account for over half of the demand of abrasive in 2015.
Abrasives sales in Central and South America, the Africa/Mideast region and Eastern Europe are projected to outpace demand in developed areas but will lag gains in the Asia/Pacific region. The fastest gains will be seen in nations such as China and India. China passed the US to become the largest national market for abrasives between 2000 and 2005, and is expected to account for over half of global demand in 2015.
Although sales gains in North America and Western Europe will not be as strong as those in developing regions, growth will be much improved over the 2005-2010 period as durable goods manufacturing in these areas rebounds. In Western Europe, abrasives demand is expected to increase 2.4 percent per year through 2015, while North America is projected to fare even better, with sales gains averaging 5.0 percent per year. North American motor vehicle output (a major end market for abrasives) will rebound from a substantial decline during the 2000-2010 period to post strong gains going forward. However, competition from lower-cost foreign producers will put pressure on domestic manufacturers, limiting production gains and associated demand for abrasives (according to data from http://www.freedoniagroup.com/industry-study/2837/world-abrasives.htm)
iAbrasive.com is a professional business to business trade platform for abrasives, abrasive products, super-hard abrasive products and diamond tools, for more information, please click http://www.iabrasive.com/.