Press release
The Rubber Bonded Abrasives Market is moderately fragmented and competition varies on a regional basis
In comparison to other types of bonded abrasives, the soft nature of rubber bonded abrasives makes them ideal for floor polishing, off-hand tool grinding, fabrication, and precision grinding applications as they do not hamper the quality of metals. Owing to this factor, the demand has increased for rubber bonded abrasives from various industries such as steel, transportation, metal, electronic and electrical, medical, and other heavy industries.
The rubber bonded abrasive market can be broadly classified on the basis of application into heavy industries, medical equipment, electrical and electronic equipment, transportation components, and other applications (household, aerospace, and printing). Based on type, the market can be segmented into synthetic and natural.
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The report provides an in-depth analysis of market segments and the competitive landscape. The report also profiles major players in the global rubber bonded abrasives market based on various attributes such as company overview, SWOT analysis, product portfolio, financial overview, business strategies, and recent developments.
Global Rubber Bonded Abrasives Market: Key Trends
Heavy industries account for the leading share in the rubber bonded abrasives market based on application. Metal and steel industries are growing in large numbers and they demand rubber bonded abrasives, thereby increasing their application. In addition, grinding and cutting tools such as plumbing tools, screwdrivers, and other specialty tools from heavy industries require rubber bonded abrasives, in turn augmenting the growth. The usage of rubber bonded abrasives can be found in the steel industry as well. During the grinding and extracting processes of different kinds of steel rolls, they are used for removing defects or scales from the surface of slabs.
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However, being heavier than other bonded abrasives, rubber bonded abrasives can lead to machine constraints. Also, the production of rubber bonded abrasives adds to environmental pollution, limiting the growth of the global rubber bonded abrasives market.
Global Rubber Bonded Abrasives Market: Regional Analysis
On the basis of geography, the global rubber bonded abrasives market can be segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Due to urbanization, increased investment in heavy and steel industries, and government initiatives, Asia Pacific accounted for the maximum share in the rubber bonded abrasives market in 2015. It is expected to grow at a strong pace through 2026.
Two of the most populated countries of Asia Pacific – China and India – are projected to lead the rubber bonded abrasives market in the said period. Currently, China is the leading market for rubber bonded abrasives, whereas India is expected to register rapid growth. Increasing demand for rubber bonded abrasives from maintenance and cleaning, metal, construction, aerospace, medical, auto ancillaries, food packaging, and heavy industries for cutting and grinding of tools such as plumbing tools, screwdrivers, and other specialty tools is anticipated to drive the rubber bonded abrasives market in these countries. Japan and South Korea are other countries in the region that are contributing to the growth of the rubber bonded abrasives market due to their expanding transportation and electrical and electronic goods industries.
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Global Rubber Bonded Abrasives Market: Key Players
The prominent players in the global rubber bonded abrasives market include Atto Abrasive Ltd, Artifex Dr Lohmann Gmbh & Co KG, Y.IKEMURA Co. LTD., Saint Gobain, Marrose Abrasives, Cratex Manufacturing Co., PFERD INC, Abrasivos Manhattan SA, Buehler, Schwarzhaupt GmbH & Co., Buffalo Abrasives Inc., Lowton Abrasive Ltd, Tyrolit Group, 3M Company, and PACER Industries Inc.
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