The Global Market for Alumina Zirconia Oxide Abrasives is Projected to Reach US$219.2 Million by 2020

Growing Use of Metal Cutting Tools Drives the Global Alumina Zirconia Oxide Abrasives Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Alumina Zirconia Oxide Abrasives. The global market for Alumina Zirconia Oxide Abrasives is projected to reach US$219.2 million by 2020, driven by the increase in the use of metal cutting tools in developing countries.

Abrasives are hard materials used for grinding, honing, lapping, finishing, and polishing. Abrasives are extensively used in a broad range of manufacturing industries including aerospace, automotive, construction equipment, medical devices and electronics. The global market for abrasives is hugely reliant on factors such as economic growth, consumer demand for manufactured goods, and investments in capital goods in key end-use industries. Alumina zirconia oxide abrasives are commonly utilized for grinding metals such as carbon steel, stainless steel, tough bronzes, exotic alloys, gray malleable, ductile and nodular cast iron, aluminum, and titanium.

The market is expected to benefit from recovering global GDP, and improving manufacturing activity in consumer goods, heavy machinery, electronics, and automobiles. Gradual resurgence in building and construction activity and increase in industrial output represent key factors encouraging demand for heavy machinery. Rising investments in heavy production machinery will spur demand for industrial abrasives such as alumina zirconia oxide abrasives. Migration of production facilities to low-cost Asian countries is benefiting growth in China, and India. Other factors driving growth include advancements in solar panel manufacturing, and expansion of production capacity of photovoltaic cells. 

As stated by the new market research report on Alumina Zirconia Oxide Abrasives, Asia-Pacific represents the largest and the fastest growing market with a projected CAGR of 5.4%. Growth in the region is led by robust industrial activity in China, India and South Korea, and increased establishment of new metalcutting job shops to service the large machinery and equipment manufacturing industry. 

Major players covered in the report include 3M, Compagnie De Saint-Gobain, Flexovit USA Inc., Hermes Abrasives Ltd., The Tyrolit Group, VSM AG, and Washington Mills North Grafton Inc.

The research report titled “Alumina Zirconia Oxide Abrasives: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America). The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.