World Abrasives

World demand for abrasives is forecast to rise 4.4 percent per year to $40.8 billion in 2020, driven by increased manufacturing activity in industrializing countries in the Asia/Pacific region, particularly India and China. Growth in the US -- which holds the world?s second largest national market for abrasives, trailing only China -- is expected to slow as the period of recovery from the 2007-2009 recession recedes. Gains in abrasives sales will be supported by increasing demand for high performance, high quality products as manufacturing industries in developing countries modernize.Over the 2015-2020 period, the world?s four fastest growing markets for abrasives -- India, China, Indonesia, and Thailand -- will all be located in Asia. China will account for the largest share of growth, representing 45 percent of the global increase in abrasives sales between 2015 and 2020. Several other countries in the region, including Malaysia, the Philippines, and Vietnam, will also post strong growth as their manufacturing sectors develop. However, regional gains will be blunted by a sluggish performance in Japan, which was the world?s third largest market for abrasives in 2015.