Global Rubber Bonded Abrasives Market: Overview
Rubber bonded abrasives find extensive utilization across several industries such as transportation, medical, metal, steel, heavy industries, and electrical and electronics. Rubber bonded abrasives are predominantly used across fabrication, floor polishing, precision grinding, and off-had tool grinding applications.
The global market for rubber bonded abrasives market can be segmented on the basis of application and region. In terms of application, heavy industries, electrical and electronic equipment, transportation components, medical components, and others are the segments of this market. Amongst these, heavy industries account for the largest share of the overall market and is expected to retain its dominance during the forecast period.
The report uses both top-down and bottom-up approaches to estimate the size of the rubber bonded abrasives market until the end of the forecast period. The market study involves extensive use of industry-centric databases, secondary sources, and other government websites for data collection. Extensive interviews were carried out with opinion leaders for their viewpoint on the industry’s growth and for endorsement of the growth analysis of this market.
Global Rubber Bonded Abrasives Market: Drivers and Restraints
The increasing demand for rubber bonded abrasives across various end-use industries is the major factor driving the global rubber bonded abrasives market. In particular, the use of rubber bonded abrasives in heavy industries and transportation components is the key growth driver of this market. Moreover, they are increasingly being utilized in medical equipment and various other medical applications such as medical scissors, polishing of medical tweezers, and surface polishing of artificial joints among others.
However, the growth of this market is hampered due to certain factors. Machine constraints due to the heavy weight of rubber bonded abrasives over other abrasives and environmental pollution in their production are hampering the market’s growth. Nevertheless, the soft surface of rubber bonded abrasives and their attribute of saving metal quality has led to their increased preference over other bonded abrasives.
Global Rubber Bonded Abrasives Market: Regional Overview
The global market for rubber bonded abrasives can be segmented into the regional markets of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Amongst these, Asia Pacific stood as the leading regional market in the recent years and is expected to display the highest growth rate in the coming years. China is expected to dominate the Asia Pacific rubber bonded abrasives market in the coming years. India is expected to display the highest growth rate owing to the large-scale industrialization and the increasing demand for rubber bonded abrasives across several end-use industries.
Europe is also a significant market for rubber bonded abrasives.
Global Rubber Bonded Abrasives Market: Competitive Outlook
Some of the leading companies in the global market for rubber bonded abrasives are Saint Gobain, Schwarzhaupt GmbH & Co., Abrasivos Manhattan SA, Lowton Abrasive Ltd., Atto Abrasive Ltd., PFERD Inc., Artifex Dr Lohmann GmbH & Co, Marrose Abrasives, and Tyrolit Group. Each of the companies are profiled for their key attributes of business positioning, product portfolio and specification, recent developments, and SWOTs.
Companies in this market are focused on expanding their product portfolio to receive an edge over competitors. For instance, Saint Gobain Abrasives introduced a new type of centerless grinding wheels that offers an array of advantages. This includes improved wheel life, reducing cycle time by as much as 50 percent, and improving stock removal as much as 30 percent.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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