Global Abrasives Market Demand to Grow 6% Annually to 2017
Dallas, TX (PRWEB) March 29, 2014
World demand to rise nearly 6% annually through 2017
Worldwide demand for abrasives is forecast to expand nearly six percent per annum through 2017 to just under $40 billion, an acceleration over the 2007- 2012 pace. Abrasives sales are expected to improve greatly in North America and Western Europe. The Africa/Mideast region, Central and South America, and Eastern Europe will perform much better through 2017 as well. In contrast, gains in the Asia/Pacific region are expected to decelerate modestly between 2012 and 2017, after more than a decade of rapid abrasives demand growth. However, the Asia/Pacific abrasives market will still outperform all other regions during this time. In terms of products, paper and other coated abrasives are expected to see the fastest gains through 2017, followed by metallic products and superabrasives. Transportation equipment and fabricated metals will be the best performing end use markets during this period.
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China to account for more than half of all new demand
About 55 percent of all additional abrasives demand generated between 2012 and 2017 will be attributable to China, the world’s leading consumer of these products. Abrasives sales in the country are projected to rise 10 percent per year through 2017. As the Chinese abrasives market matures, however, growth is expected to decelerate noticeably from the breakneck pace of the last decade. Massive gains in manufacturing activity, rising living standards, and additional foreign investment will stimulate product demand in China. As the country’s durable goods industries become more sophisticated, the intensity of abrasives use — relative to GDP, manufacturing value added, and population size — will increase noticeably.
Sales of abrasives to accelerate outside of Asia
Following several years of losses during the recession-plagued 2007-2012 period, sales of abrasives in Western Europe are projected to expand nearly two percent per annum between 2012 and 2017. As the region recovers from the financial crisis, production of durable goods is expected to rebound, generating additional demand for abrasives. North America will record considerably faster growth through 2017 than during the previous five-year period as well, for similar reasons. Sales of abrasives in the Africa/Mideast region, Central and South America, and Eastern Europe are expected to accelerate, as their durable goods sectors mature. More sophisticated industries generally require a greater level of abrasives. Additionally, demand for higher-end abrasives will increase, adding to market gains.
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Coated, metallic, & superabrasives to gain ground
The coated abrasives segment is projected to remain the leading product type through 2017, growing at an above average pace. Healthy advances in manufacturing and construction activity, together with large consumer product demand gains, will stimulate paper and other coated abrasives consumption. Metallic abrasives, which are largely used in metalworking plants, foundries, and machine tool factories, are forecast to be the second fastest growing product through 2017 because these and similar industries will grow significantly. Finally, end users will require more advanced and specialized abrasives in the future, as their operations become more sophisticated. This trend will greatly boost global demand for superabrasives.
Profiles for 38 global industry competitors including Cabot Microelectronics, Fujimi, lmerys, Saint-Gobain, 3M, TYROLIT Schleifmittelwerke and Winoa
This study analyzes the world market for abrasives. The major product types are nonmetallic abrasives, such as coated abrasives (cloth-backed abrasive belts and rolls, and sandpaper), bonded abrasives (grinding wheels, honing stones, etc.), and loose abrasive grains and powders (used in polishing compounds, sandblasting, slurries and waterjet cutting); and metallic abrasives (such as metal shot and grit, steel wool and scouring pads, and wire brushes and wheels). Excluded from the scope of the study are abrasive-tipped cutting tools like drill bits, milling cutters, and saw blades. The most important abrasives markets are durable goods (machinery, transportation, fabricated, electrical and electronic equipment, and other), cleaning and maintenance, and other (construction, cosmetics/toiletries, resource extraction, etc.). Global demand for abrasive raw materials (manufactured and natural minerals, and metallic materials) is also presented.
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