Global Abrasives Market Finds That It Would Rise At A Steady 5.5% Cagr Between 2013 And 2019

Global Abrasives Market: Snapshot

The global abrasives market has been rising hand-in-hand with the global machinery, automotive, and metal fabrication industry. The revival of economic growth globally post the economic slowdown of 2007 leading to a sizeable demand for machinery for the rising industrialization and urbanization has played an important role in providing the necessary momentum to the global abrasives market.

On the other hand, acting as a barrier to the growth of the global abrasives market are stringent regulations in place for the use of silica abrasives and volatile prices of raw materials.

In matters of competition, the global abrasives market displays fragmentation with the presence of a large number of global and regional players. Mergers and acquisitions, business alliances, and product innovation are some of the growth strategies that players in this market are focused on to steal a march on their competitors.

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As per estimates by a report by Transparency Market Research, the global abrasives market will rise at a CAGR of 5.5% between 2013 and 2019, for the market to reach a valuation of US$51,389.7 mn by the end of 2019. The market was evaluated at US$35,203.6 mn in 2012.

Demand from Abrasive Product Manufacturers to Benefit Loose Abrasive Grains Segment

The global abrasives market is studied on the basis of product, end user, and geography in this report. Depending upon product, the global abrasives market is classified into bonded abrasives, raw superabrasives, loose abrasive grains, coated abrasives, steel abrasives, and others. Of them, the segment of bonded abrasives held the leading share in 2012 with a revenue contribution of US$12, 278.3 mn in the same year.

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On the other hand, the segment of raw superabrasives is expected to display the leading growth at a CAGR of 7.7% between 2013 and 2019 vis-à-vis revenue. This is because abrasive product manufacturers are increasingly displaying demand for loose abrasive grains, which in turn is positively influencing the raw superabrasives product segment. In addition, the segment of loose abrasive grains is anticipated to display robust growth in the upcoming years as the demand for loose abrasive grains is on the rise from abrasive product manufacturers.

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