Rubber Bonded Abrasives Market Analysis | 2023-2028

Market Insights

The rubber bonded abrasives market was estimated at USD 1.25 billion in 2022 and is likely to grow at a CAGR of 4.05% during 2023-2028 to reach USD 1.58 billion in 2028.

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Market Dynamics

Introduction

Rubber bonded abrasives are commonly natural abrasive grains that form into solid, commonly into a wheel-shaped form. In comparison to many other bonded abrasives, rubber bonded abrasives are much harder and friable and also quite tough in nature. They are mostly used in applications of heavy-duty nature such as cutting, grinding, sharpening, and others.

Rubber bonded abrasives are known to be much more efficient than others due to their amazing features of toughness and others. Some of the important industries where these are used are heavy industries, electrical, transportation, medical equipment, and others.

Market Drivers

Rubber bonded abrasive is employed in heavy industry applications for explicit requirements that vary from the primary processing of metal to the engineering of completed products. Rubber bonded abrasives are adopted in foundries where static points are applied for overall accuracy in cutting and grinding of the enormously tiny particulars of apparatuses as they are extremely supple. Further, the steel manufacturing sector has extensive application of rubber-bonded abrasives, largely for the determination of eliminating scale or imperfections from the exterior of slabs. Consequently, the rising heavy industry application drives the growth of the global market.

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Key Players

Some of the major players in the market are:

• The 3M Company
• Tyrolit Group
• Pferd Inc.
• Y. Ikemura & Co. Ltd.
• Abrasivos Manhattan SA
• Pacer Industries, Inc.
• Buffalo Abrasives, Inc.
• Schwarzhaupt GmbH & Co. Kg
• Cratex Manufacturing Co.
• Atto Abrasives Ltd.
• Lowton Abrasive Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Application Type

Based on the application type, the market is segmented as heavy industries, transportation components, electrical & electronic equipment, medical equipment, and others. The heavy industries segment is considered to be the largest application segment. The growth is attributed to the fact that these abrasives are healthier for usage and offer suppleness throughout processes when equated to further bonded abrasives. Further, mounting steel engineering and foundries across the globe is driving the market.

Regional Insights

In terms of regions, Asia-Pacific is estimated to burgeon at the highest growth in the market in the coming five years. Fast industrial development and upward applications, such as heavy industries, electrical & electronic equipment, and transportation equipment have ushered the rise in demand for rubber bonded abrasives in this region. China and India are the growth engines of the region. The majority of the manufacturing giants are directing on the evolving markets in the region and augmenting their presence by establishing manufacturing conveniences, delivery centers, and R&D centers in this region, which in turn is driving the global market during the forecast period. North America and Europe are also expected to offer considerable growth opportunities in the coming five years.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects rubber bonded abrasives market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The rubber bonded abrasives market is segmented into the following categories.

By Application Type

• Heavy Industries
• Transportation Components
• Electrical & Electronic Equipment
• Medical Equipment
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.