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RELEASED: NOVEMBER 2006
After researching the UK abrasives market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2002-2006:
The UK abrasives market is believed to have declined in each year of the review period, with the exception of 2004 when a 12% increase was recorded. This significant increase is in part due to a strong increase in imports during the year. Between 2002 and 2005 demand for abrasives declined by a cumulative 10% to a level of £158.6 million during the latter. In 2006 MBD expect the UK market for abrasives to decline by a further 1% to a review period low of £157.3 million. This downturn partly reflects the improvements in abrasive quality and machine processing which have contributed to reduced replacement cycles and indeed the overall value of the sector.
MARKET FORECAST 2007-2011:
MBD project that the UK market for abrasives will decline year-on-year between 2006 and 2011, culminating in an overall decline of 8% in real terms to £145.5 million (at 2006 prices) by the end of the latter year. Annual declines of between 1% and 2% are anticipated throughout the forecasted period. This continues the trend for decline recorded during the review period. Value growth in the market is anticipated to be hindered by technological developments, which have reduced demand for abrasives. More subdued economic growth, at least in the short-term, and lack of growth in the manufacturing industries is also expected to restrict market development.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Abrasives Market Research Report
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