Global Abrasives Market Overview
In value terms, abrasives production amounted to $ in 2018 estimated in export prices. Overall, abrasives production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of % against the previous year. The global abrasives production peaked at $ in 2008; however, from 2009 to 2018, production remained at a lower figure.
The country with the largest volume of abrasives production was Turkey ( tonnes), accounting for % of total volume. Moreover, abrasives production in Turkey exceeded the figures recorded by the second-largest producer, China ( tonnes), fivefold. India ( tonnes) ranked third in terms of total production with a % share.
From 2007 to 2018, the average annual growth rate of volume in Turkey amounted to +%. The remaining producing countries recorded the following average annual rates of production growth: China (+% per year) and India (-% per year).
The global abrasives market revenue amounted to $ in 2018, surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2018 with an increase of % year-to-year. In that year, the global abrasives market reached its peak level and is likely to continue its growth in the immediate term.
From 2007 to 2018, the average annual growth rate of volume in Turkey totaled +%. In the other countries, the average annual rates were as follows: China (+% per year) and the U.S. (+% per year).
In value terms, the largest abrasives markets worldwide were China ($), India ($) and Saudi Arabia ($), with a combined % share of the global market. These countries were followed by Brazil, the U.S., Japan, Russia, Germany, Indonesia and Turkey, which together accounted for a further %.
Brazil experienced the highest growth rate of market size, in terms of the main consuming countries over the period under review, while abrasives market for the other global leaders experienced more modest paces of growth.
In 2018, the highest levels of abrasives per capita consumption was registered in Turkey ( kg per person), followed by Saudi Arabia ( kg per person), Germany ( kg per person) and Japan ( kg per person), while the world average per capita consumption of abrasives was estimated at kg per person.
In Turkey, abrasives per capita consumption expanded at an average annual rate of +% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Saudi Arabia (-% per year) and Germany (+% per year).