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How Rubber Bonded Abrasive Market Growing Rapidly...? Top Manufacturers Saint Gobain, Abrasivos Manhattan, PFERD, Schwarzhaupt, and Tyrolit Group
Rubber Bonded Abrasive Market
It is widely used for cutting and grinding small tools floor polishing, precision grinding and fabrication applications, thereby increasing steel, metal, electrical & electronics, medical, and transportation industries demand. Rubber bonded abrasives can be manufactured by using various other compounds including talc, gypsum, calcite, fluorite, apatite, quartz, topaz, corundum, aluminum oxide, silicon carbide, borazon and diamond.
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Global industrial rubber market size generated over USD 90 billion in 2015 and may surpass USD 165 billion by 2024, with gains at over 7%. Positive application outlook in construction, automotive, and manufacturing industries should drive industry growth. Rise in motor vehicles production has led to increase in various industrial products such as hoses, belts, and gaskets.
Asia Pacific, driven by India, South Korea, Japan, and China rubber bonded abrasive market size, may grow significantly over the forecast timeframe. Asia Pacific natural rubber production was over 11 million tons in 2015. Increasing steel, metal, medical, transportation and electrical & electronics industry should contribute towards regional market growth.
North America, led by the U.S. rubber bonded abrasive market may witness significant gains by 2024. Many manufacturing companies provide products which are used for polishing and architectural glass edges.
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Europe, driven by UK, France, Italy, and Germany rubber bonded abrasive market share, may account for significant gains by 2024. Most of the companies produces and provide products which are used in engineering, medical, and aerospace industries.
Aluminum oxide, silicon carbide and zirconia alumina are key raw materials used for rubber bonded abrasive process. Fluctuating raw material costs may hinder industry profitability and affect rubber bonded abrasive market price trend.
Global rubber bonded abrasive market share is fragmented. Key market players include Saint Gobain, Abrasivos Manhattan, PFERD, Schwarzhaupt, and Tyrolit Group. Other industrial participants include 3M Company, Pacer Industries, Buehler, and Crartex.
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Companies are focused on enhancing their product portfolio to edge over other competitors and gain market share. Saint Gobain has developed high performance centerless grinding wheel, Norton Century 45, which is designed to improve product cost-competitiveness for large and small operations. It uses silicon carbide and aluminum oxide blends.
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