SOURCE: Transparency Market Research, PVT LTD.

Transparency Market Research

May 21, 2015 08:25 ET

Abrasives Market to Register 5.5% CAGR From 2013-2019 With Steady Rise in Demand: Transparency Market Research

ALBANY, NY--(Marketwired - May 21, 2015) - A new study from Transparency Market Research (TMR) titled “Abrasives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” provides a detailed analysis of the global abrasives market. According to the report, the abrasives market was valued in 2012 at US$35,203.6 million and will reach a value of US$51,389.7 million by 2019, while displaying a 5.5% CAGR during the forecast period of 2013-2019.

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The demand for abrasives globally in 2012 stood at 13,939.7 kilo tons. Natural or synthetic abrasives demand is increasing as they are used for various purposes such as to grind, scour, abrade, clean, or eliminate solid material by rubbing impact or action. The global abrasives market according to products is divided into bonded, coated, raw, steel, loose, and nonwoven abrasives. In 2012, bonded abrasives segment contributed to the largest share of the market, followed by coated abrasives and loose abrasive grains.

Bonded abrasives generated revenue of US$12,278.3 million in 2012. This segment is anticipated by TMR analysts to reach a value of US$ 16,719.7 million in 2019 with a 4.5% CAGR during the forecast period. On the contrary, raw superabrasives segment will be the fastest growing product segment in terms of revenue, and is expected to demonstrate a 7.7% CAGR during 2013-2019. Furthermore, loose abrasive grains segment will show record growth in the next few years due to the increasing demand for loose abrasive grains from manufacturers of abrasive products.

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Abrasive products find their use for various purposes such as machinery, transportation, electrical and electronic equipment, metal fabrication, and others (such as construction, medical devices, cleaning and maintenance, and power generation). In 2012, machinery segment lead the abrasives market in terms of end-user and accounted for 23.8% of the global demand. This segment generated US$8,586.7 million revenue and is expected to reach a market value of US$12,418.5 million in 2019 with a 5.4% CAGR during the forecast period. Machinery segment was followed metal fabrication segment which is another important end-user segment of abrasives market. In addition, electrical and electronic equipment and transportation segments will demonstrate record fastest growth due to the ever-growing demand for automobiles and electrical and electronic appliances around the world. Other end-user segments such as medical devices, construction, power generation, cleaning and maintenance will also display a significant growth in the coming few years.

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The global market of abrasives is dominated by the Asia-Pacific region which contributed to 55.8% in 2012 in terms of global volumes consumed. Asia-Pacific region due to the increasing demand from automotive and electronic equipment industry continues to dominate the market in terms of volume. Asia Pacific is followed by Europe with around 20% share in total consumption. The slump in the North American and European markets has contributed towards the growth of Asia Pacific abrasives market.

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The abrasives market shows an attractive growth potential due to the increasing use of garnet for water jet cutting and abrasive blast cleaning. This superior processing method allows for highest purity garnet and highly accurate sizing of grains production. Garnet is employed as a blast cleaning abrasive across many industries to achieve superior quality of processing in terms of mineral purity. However, stringent government restrictions on use of silica abrasives combined with volatile prices of raw materials tend to suppress the growth of this market. Some of the top key players in the abrasives market include Robert Bosch GmbH, Saint Gobain SA, 3M, DuPont, Henkel AG & Co. KGaA, and TYROLIT Schleifmittelwerke Swarovski K.G.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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