Demand for Industrial Abrasives Will Be Fostered

Demand for industrial abrasives will be fostered by renewed industrialization activity in the developing regions, rising per capita incomes and consumer spending, enhanced manufacturing activities in the durables sector, and increased fixed investments, more so in Asia-Pacific. Boost in the construction and manufacturing sectors and per capita incomes would result in bolstering demand for industrial abrasives that comprise cleaning & maintenance products in developing areas. The report reviews, analyses and projects the industrial abrasives market for global and the regional markets including North America, Europe, Asia-Pacific, South America and Rest of World. The regional markets further analyzed for 15 independent countries across North America - the United States, Canada and Mexico; Europe - Germany, France, Italy, the United Kingdom, Spain, Russia and Rest of Europe; Asia-Pacific - China, Japan, South Korea, India and Rest of Asia-Pacific. Market for industrial abrasive product segments analyzed in this study includes Non-Metallic and Metallic abrasives. Non-Metallic industrial abrasives further analyzed for their sub-segments comprising bonded non-metallic abrasives, coated industrial abrasives and Loose Grains & Powder abrasives. The report also analyzes the global abrasives market by major end-use application areas including Machinery, Electrical & Electronics, Transportation, Metal Fabrication, Cleaning & Maintenance and Miscellaneous. Global market for industrial abrasives is projected to touch US$ 27 billion in 2012 and projected to reach US$ 36 billion by 2018. Asia-Pacific is estimated to be both largest and the fastest growing market for industrial abrasives with a Compounded Annual Growth Rate (CAGR) of 6.5% between 2008 and 2018 to account for 58% of global market share in 2018. Source: MarketWatch