Global abrasives demand is to reach $45 billion in 2015.
Zhengzhou, China (PRWEB) February 14, 2014
iAbrasive.com, a famous online trade platform for abrasives, abrasive products, diamond tools and super-abrasives, recently indicates in a survey that the global abrasive demand is to reach $45 billion in 2015 comparing with the data from 2005 to 2010.
As it showed in the survey, Global demand for abrasives is projected to grow 6.3 percent annually to $44.8 billion in 2015. Advances will be driven by ongoing industrialization activity in developing areas, increasing per capita incomes and consumer spending, rising durables manufacturing output and greater fixed investment activity, especially in the Asia/Pacific region. Such increases in construction and manufacturing activity and per capita incomes will also boost demand for abrasives, containing cleaning and maintenance products in the developing world. (According to data on http://www.freedoniagroup.com/industry-study/2837/world-abrasives.htm)
Loose grains and powders demand to spur growth of non-metallics. The largest product segment in dollar terms, nonmetallic abrasives, includes bonded abrasives, coated abrasives, and loose grains and powders. Nonmetallic abrasives are expected to register slower sales gains than metallic types. Demand for loose grains and powders is forecast to expand the fastest of any nonmetallic abrasive type through 2015, supported by rising levels of integrated circuit manufacturing. Coated and bonded abrasive sales are expected to rise at similar rates. Coated abrasives are used in a variety of applications, and the market will expand in step with durables manufacturing and construction activity globally. Bonded abrasives are generally used in metalworking applications. Super-abrasives, which are most often used in a bonded form, are gaining favor with producers due to their long life and high performance characteristics.
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