Rubber Bonded Abrasives Market by Application (Heavy Industries, Transportation Components, Electrical & Electronic Equipment, Medical Equipment), and Region - Global Forecast to 2026
“The rubber bonded abrasives market is estimated to grow at a CAGR of 3.1% during the forecast period”
The rubber bonded abrasives market is projected to reach USD 1.47 billion by 2026, at a CAGR of 3.1% from 2016 to 2026. Rubber bonded abrasives are used in floor polishing, fabrication, off-hand tool grinding, and precision grinding applications, as they do not hamper the quality of metals and are softer as compared to other types of bonded abrasives. This has increased the demand for rubber bonded abrasives from various industries such as metal, steel, transportation, electrical & electronic, medical, and other heavy industries. Rubber bonded abrasives are heavier than other bonded abrasives. This leads to machine constraints and production of rubber bonded abrasives cause environmental pollution. These are the restraints for the growth of the rubber bonded abrasives market.
“Based on application, the heavy industries segment is expected to lead the rubber bonded abrasives market during the forecast period”
Rubber bonded abrasives find their largest application in heavy industries. Their application is growing due to the increasing demand for rubber bonded abrasives from metal and steel industries. Use of rubber bonded abrasives for cutting and grinding tools such as screwdrivers, plumbing tools, and other specialty tools has increased its demand from heavy industries. In addition, rubber bonded abrasives are used in the steel industry for removing scale or defects from the surface of slabs and in grinding processes for different kinds of rolls.
“Asia-Pacific to lead the rubber bonded abrasives market during the forecast period”
Asia-Pacific is estimated to lead the rubber bonded abrasives market during the forecast period. This can be attributed to high demand for rubber bonded abrasives from countries such as China, Japan, South Korea, and India. China is estimated to lead the Asia-Pacific rubber bonded abrasives market, followed by Japan, South Korea, and India. This market in India is estimated to grow at the highest rate during the forecast period. Growth of metal, steel, transportation, electrical & electronic, medical, and other heavy industries has increased the demand for rubber bonded abrasives in the region.
Extensive primary interviews were conducted to determine and verify market sizes of several segments and subsegments, and information gathered through secondary research.
Break-up of primary interviews is given below:
By Company Type - Tier 1 – 37%, Tier 2 – 47%, and Tier 3 – 16%
By Designation - C level – 46%, Manager level – 36%, and Others – 18%
By Region - North America – 26%, Europe – 30%, Asia-Pacific – 22%, Middle East & Africa – 9% and South America – 13%
The companies profiled in this market research report are 3M Company (U.S.), Tyrolit group (Austria), PFERD INC (Germany), Y.IKEMURA Co. LTD. (Japan), Abrasivos Manhattan SA (Spain), PACER Industries Inc. (U.S.), Buffalo Abrasives Inc. (U.S.), Schwarzhaupt GmbH & Co. (Germany), Saint Gobain (France), Cratex Manufacturing Co. (U.S.), Marrose Abrasives (U.K.), Atto Abrasive Ltd (Ireland), Lowton Abrasive Ltd (U.K.), Buehler (U.S.), and Artifex Dr Lohmann Gmbh & Co KG (Germany).
This research report categorizes the rubber bonded abrasives market on the basis of application and region. The report includes detailed information regarding the major factors influencing the growth of the rubber bonded abrasives market such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights into business overviews, products & services, key strategies, new product launches, research & development, mergers & acquisitions, partnerships, and recent developments associated with the market.
REASONS TO BUY THE REPORT
The report will help market leaders/new entrants in the following ways:
1. This report segments the rubber bonded abrasives market comprehensively and provides close approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand major competitors and gain insights to enhance their position in the market.
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