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Global Demand for Abrasives to Approach $45 Billion in 2015

Post Time:Mar 09,2012Classify:Industry NewsView:121

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, rising per capita incomes and consumer spending, growing 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. 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. These and other trends are presented in World Abrasives, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

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 annually. Competition from lower-cost foreign manufacturers will put pressure on domestic manufacturers, limiting production increases and associated demand for abrasives. 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.

Nonmetallic abrasives are expected to register slower sales gains than metallic abrasives. 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. Superabrasives are quickly gaining favor with manufacturers because of their long life and high performance characteristics. Suppliers of metallic abrasives will benefit from increases in primary and fabricated metals manufacturing output as global economic growth accelerates and industrialization activity continues in less developed parts of the world.

World Abrasives (published 02/2012, 413 pages) is available for $6100 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.

Source: http://www.glassonweb.com/news/index/15327/Author:

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