Bonded Abrasives Demand Driven by Expanding Durable Goods Manufacturing

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Jun 10, 2019, 10:11 ET

CLEVELAND, June 10, 2019 /PRNewswire/ -- Global demand for bonded abrasives is forecast to rise 5.0% per year to $16.9 billion in 2023. Growth will be driven by durable goods manufacturing industries worldwide, with particularly strong gains expected in the Asia/Pacific region. According to the study Global Abrasives, "The increasing sophistication of manufacturing processes will require greater use of bonded abrasives, particularly those using higher value materials."

More information about the study is here: https://www.freedoniagroup.com/industry-study/global-abrasives-3727.htm

Bonded abrasives principally consist of grinding wheels, although other forms (such as sticks and blocks) are available. Bonded products can be manufactured using either conventional (like fused alumina and silicon carbide) or superabrasive (CBN and diamond) materials. In comparison to coated abrasives, use of bonded abrasives is more heavily weighted toward durable goods manufacturing applications.

The overall abrasives market, including coated, bonded, loose grains and powders, and metallic, is forecast to rise 5.1% per year to $45.5 billion in 2023, driven by expanding durable goods manufacturing activity worldwide. Improving standards of living in lower income nations will also contribute to increased spending on cleaning and maintenance abrasives.

Global Abrasives (published 05/2019, 379 pages) is available for $6100 from The Freedonia Group. Please link citations to https://www.freedoniagroup.com/World-Abrasives.html

About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. The Metals, Minerals & Glass Products studies page is here: https://www.freedoniagroup.com/industry-category/mine/metals-minerals-glass.htm.

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SOURCE The Freedonia Group