Table of Contents

Executive Summary

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TABLE OF CONTENTS

EXECUTIVE SUMMARY

INTRODUCTION

Definitions

Overview

Abrasive Products

Bonded Abrasive Products

Coated Abrasive Products

Loose Abrasive Particles

Abrasive Grains

Natural Abrasives

Conventional Synthetic Abrasives

Superabrasives

Methodology

UK Economy

Overview

Political Climate

Interest Rates

Inflation

Exchange Rates

Taxation

Consumer Expenditure

Output

Investment

Forecasts

Abbreviations

Exchange Rates

MARKET SIZE

Market Overview and Trends, 1994-1998

Market Segmentation

Overview

Bonded Abrasive Products

Coated Abrasive Products

Loose Abrasive Particles

Factors Affecting Demand

Forecast Segmentation, 1999-2003

DISTRIBUTION

PRODUCTION

Overview

Critical Success Factors

INTERNATIONAL TRADE

Imports

Overview

Implications For Importers

Exports

Trade Surplus/Deficit

INDUSTRY STRUCTURE

Overview

Company Profiles

Arrow Abrasives

Asahi Diamond Industrial UK Company

Carborundum Abrasives GB

Guyson International

Hermes Abrasives

Klingspor Abrasives

Mirka Abrasives

Norton

Overview

Norton UK

PCT Group Sales

Tyrolit UK

Unicorn International

Overview

Unicorn Abrasives (UK)

Nimbus Diamond Tool & Machine Company

Universal Abrasives

Washington Mills Electro Minerals

END USE SECTORS

Overview

Aerospace

Automotive Sector

Overview

Cars

Commercial Vehicles

Bearings

Construction

DIY

Engineers' Cutting and Forming Tools

Foundries and Castings

Machine Tools

TRADE ASSOCIATIONS

MAGAZINES

List of Tables

1 Economic Indicators On The UK Economy, 1990-1999

2 UK Market For Abrasives, 1994-1998

3 UK Market Size For Abrasives, By Type, 1994-1998

4 UK Market For Bonded Abrasive Products, 1994-1998

5 UK Market For Bonded Abrasive Products, By Type, 1994-1998

6 UK Market For Conventional Bonded Abrasive Products, By Type Of Bond, 1994-1998

7 UK Market For Coated Abrasive Products, 1994-1998

8 UK Market For Coated Abrasives, By Type Of Backing Material, 1994-1998

9 UK Market For Loose Abrasive Particles, 1994-1998

10 Forecast UK Market For Abrasives, 1999-2003

11 Forecast UK Market For Abrasives, By Type, 1999-2003

12 Distribution Of Abrasives, By Type, 1998

13 UK Production Of Abrasives, 1994-1998

14 UK Production Of Abrasives, By Type, 1994-1998

15 UK Imports Of Abrasives, 1994-1998

16 UK Imports Of Abrasives, By Type, 1994-1998

17 Proportional Importance Of UK Imports Of Abrasives, By Type, 1994-1998

18 UK Exports Of Abrasives, 1994-1998

19 UK Exports Of Abrasives, By Type, 1994-1998

20 Proportional Importance Of UK Exports Of Abrasives, By Type, 1994-1998

21 UK Trade Surplus (Deficit) In Abrasives, By Type, 1994-1998

22 Financial Summary Of Arrow Abrasives, 1993-1997

23 Turnover Of Arrow Abrasives, By Geographical Region, 1996 And 1997

24 Financial Summary Of Asahi Diamond Industrial UK Company, 1992-1996

25 Turnover Of Asahi Diamond Industrial UK Company, By Geographical Region, 1995 And 1996

26 Financial Summary Of Carborundum Abrasives GB, 1994-1998

27 Turnover Of Carborundum Abrasives GB, By Geographical Region, 1997 And 1998

28 Financial Summary Of Guyson International, 1993-1997

29 Turnover Of Guyson International, By Geographical Region, 1996 And 1997

30 Pre-Tax Profits Of Klingspor Abrasives, 1993-1997

31 Pre-Tax Profits (Loss) Of Mirka Abrasives, 1994-1997

32 Financial Summary Of Norton, 1994-1997

33 Turnover Of Norton, By Geographical Region, 1996 And 1997

34 Financial Summary Of Norton UK, 1994-1997

35 Turnover Of Norton UK's Abrasive Products Business, By Geographical Region, 1995 And 1996

36 Financial Summary Of PCT Group Sales, 1993-1997

37 Financial Summary Of Tyrolit UK, 1993-1997

38 Financial Summary Of Unicorn Abrasives (UK), 1994-1997

39 Turnover Of Unicorn Abrasives UK, By Geographical Region, 1996 And 1997

40 Financial Summary Of Nimbus Diamond Tool & Machine Company, 1993-1997

41 Turnover Of Nimbus Diamond Tool & Machine Company, By Geographical Region, 1996 And 1997

42 Financial Summary Of Universal Abrasives, 1994-1997

43 Turnover Of Universal Abrasives, By Geographical Region, 1996 And 1997

44 Financial Summary Of Washington Mills Electro Minerals, 1993-1997

45 Turnover Of Washington Mills Electro Minerals, By Geographical Region, 1996 And 1997

46 UK Bonded Abrasives Market, By End Use Sector, 1998

47 UK Aerospace Equipment Manufacturing Turnover, 1994-1998

48 UK Aerospace Equipment Manufacturing Turnover, By Sector, 1994-1998

49 UK Production Of Cars, 1990-1999

50 UK Production Of Commercial Vehicles, 1990-1999

51 UK Production Of Bearings, 1994-1998

52 Total Construction Output In Great Britain, By Sector, 1994-1998

53 Forecast Construction Output In Great Britain, By Sector, 1999-2003

54 Housing Starts And Completions In Great Britain, By Sector, 1994-2000

55 Consumers' Expenditure On DIY Products, 1994-1998

56 Number Of Property Transactions In England And Wales, 1994-2003

57 The UK Market For Engineers' Cutting And Forming Tools, 1994-1998

58 The UK Market For Engineers' Cutting And Forming Tools, By Type, 1994-1998

59 UK Production Of Castings, 1994-1998

60 Turnover Of UK Machine Tools Manufacturers, 1994-1998

List of Diagrams

1 UK Market For Abrasives, By Type, 1994-2003

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EXECUTIVE SUMMARY

MSI estimate that the value of the UK market for abrasives totalled £249.9 million (ECU359.9 million) in 1998, which represented an increase of 2 percent in nominal terms in comparison with 1997.

The value of the UK bonded abrasives market reached £153.9 million (ECU221.6 million) in 1998, representing 62 percent of the total abrasives market. Moreover, MSI estimate that during the same year sales of coated abrasive products and loose abrasives particles accounted for 33 percent and 5 percent of the total market respectively.

End user activity is a major factor that affects the demand for abrasive products. MSI believe that UK companies operating in the abrasive industry are adapting to changes in end user demand by developing new products which cater for changing customer requirements. Indeed, end users are demanding that abrasive products are durable and have a long life expectancy, as well as being cost effective.

MSI forecast that the total market for abrasive products will decline by 1 percent in real terms during 1999, compared with 1998. MSI believe the principal cause of this decline will be a fall in demand for abrasive products from end user industries.

MSI estimate that in 1998 UK production of abrasives declined by some 6 percent to a value of £230.6 million (ECU332.1 million) at manufacturers selling prices. MSI believe that this trend was attributable to the influx of cheaper imports which met a higher proportion of domestic demand during the year.

The factors that are critical to the success of manufacturers in the abrasives industry include:

- price/quality

- customer orientation

- long term relationships/customer loyalty

- personalised service

- differentiation

The UK abrasives industry has become increasingly internationally supplied during the 1990s. Indeed, imports of abrasives are estimated to have increased by a substantial 29 percent during 1998. However, in comparison UK exports of abrasives increased by only 2 percent, constrained by the strength of Sterling.

There has been a large amount of acquisition activity within the abrasives industry during the 1990s and the concentration of the industry has increased significantly.

Text © 1999 MSI

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