According to a report from Global Industry Analysts, Inc., the global alumina zirconia oxide abrasives market is expected to reach $219.2 million by 2020. Recovering global GDP and improving manufacturing activity in consumer goods, heavy machinery, electronics, and automotive are expected to drive growth in the market. A gradual resurgence in building and construction activity, along with an increase in industrial output, are key factors encouraging demand for heavy machinery. Additional factors driving growth include advancements in solar panel manufacturing and an expansion of production capacity for photovoltaic cells. Asia-Pacific represents the largest and fastest-growing regional market, with a projected compound annual growth rate (CAGR) of 5.4%.1
Production of crude fused aluminum oxide and silicon carbide in the U.S. and Canada have remained at 10,000 t and 35,000 t, respectively, for the past several years. Fused aluminum oxide was produced by two companies at three plants in the U.S. and Canada, and reached an estimated value of $2 million in 2014. Valued at about $26 million, silicon carbide was produced by two companies at two plants in the U.S.