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NewswireTODAY - /newswire/ -
London, United Kingdom, 2010/02/24 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.
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According to the report “World Abrasives: Industry forecasts for 2013 & 2018” global demand for abrasive products is forecast to climb 5.9 percent annually to $38.2 billion by 2013. Market advances in developing parts of the Asia/ Pacific region, the Africa/Mideast region, Eastern Europe and Latin America will considerably outperform demand in the US, Western Europe and Japan. China, India and Russia will post some of the biggest sales gains. China, which recently surpassed the US to become the largest national market for abrasives, will account for two-thirds of all additional product demand. Sales advances are also expected to be healthy in Indonesia, Thailand and Turkey.
Market conditions will be much less favourable in developed parts of the world, dampened by relatively sluggish durable goods manufacturing activity. Abrasives demand in the US, Italy and France will expand less than one percent annually to 2013, while annual product sales are expected to decline in Germany, Japan and the UK. However, higher per capita incomes will result in increased consumer expenditures for a variety of products made using abrasives, providing some offsetting support. The sales outlook is somewhat stronger for Canada, South Korea and Spain due to comparatively healthy growth in manufacturing output in these nations.
The 422 page report says that loose abrasive grains and powders will post the strongest increases of any major product type, bolstered by their use in several markets with above-average growth prospects, including semiconductor manufacturing and microdermabrasion, and an ongoing trend toward the use of higher value products like specialty silica and synthetic diamond. Bonded abrasives demand will climb at the next fastest rate, benefitting from strong sales growth in China and other fast-growing developing markets where bonded abrasives account for the largest single share of sales, as well as by increased use of superabrasive products. However, coated abrasives will remain the biggest product category on a global basis, supported by an ongoing trend toward the use of more sophisticated manufacturing processes, in which products are machined closer to their final shape, boosting use of coated abrasives in finishing operations.
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