The abrasives industry is surprisingly strong at the moment with consumption having increased in value by 46.5% since Intelligence Market produced their last report in 2009. Abrasives Market Report 2012: Coated, Bonded, Superabrasives and Grains (Fused Aluminium Oxide, Silicon Carbide, Cubic Boron Nitride, Diamond, Emery, Garnet, Pumice, Metallic Abrasive Grains) was published in July 2012. Despite a turbulent global economy the abrasives industry has benefitted from demand in the following growth industries: construction and renovation, aerospace, automotive, medical and electronics industries.
2012 will be a challenging year for the industry, but Intelligence Market expect industrial production to strengthen in North America and Europe along with continued high growth in developing economies from 2013. In the US the production of durable consumer goods was up 10.4% in July 2012 from the previous year. Gains have been recorded in primary metals, computer and electronic products, motor vehicles and parts, aerospace and miscellaneous transport equipment.
Companies such as 3M, Boart Longyear, Saint-Gobain, ARBA,Tyrolit all recorded growth in 2011 despite challenging times. The success of these companies has been in many cases due to entry to new growth markets, mergers and acquisitions, research and development, investment in marketing and careful management of the supply of raw materials.
Continued strong demand for abrasives is expected in developing economies over the next five years. Regions such as Asia-Pacific, South and Central America, Africa and the Middle-East will all drive growth for abrasive products in the construction, manufacturing, mining and energy sectors.