Moderate Growth Expected for Global Abrasives Market
The global abrasives market was valued at $33.4 billion in 2011, and is expected to reach $43.8 billion by 2017. The market is projected to register a six-year compound annual growth rate (CAGR) of 4.6% for the period 2011-2017, according to a new technical market research report from BCC Research.
The global market value of the abrasive grains segment was $8.9 billion in 2011. The market is expected to reach $10.9 billion by 2017, registering a CAGR of 3.4% over the 2011 to 2017 period. The growth of the abrasive tools market will reportedly be slightly faster, at a CAGR of 5% through 2017, growing from $24.5 billion in 2011 to $32.9 billion in 2017.
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