Rubber Bonded Abrasives Market is anticipated to grow at a steady CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Rubber Bonded Abrasives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global rubber-bonded abrasives market is estimated to be over US$ 1284.50 Mn in 2018. It is anticipated to grow at a steady CAGR from 2019 to 2030.
The substantial market growth can be attributed to a growing demand for rubber-bonded abrasives in automotive and heavy industries. The demand for rubber-bonded abrasives in heavy industries is increasing due to its flexible properties such as longer durability and material removal abilities. Materials such as steel bars, coiled steel, iron castings, and pipes require the most durable abrasives with the fastest stock removal. Moreover, rubber-bonded abrasive wheels have replaced steel saws in heavy materials due to the abrasive wheels having the capacity to cut through nearly every material known at a faster rate than that of metal saws and with lesser heat generation and better cut surface.
Rubber-bonded abrasives are widely used in the automotive industry due to its versatile properties such as uniformity, widespread usage range, economic advantage, low heat transfer, hardness, and others. In the automotive industry, rubber-bonded abrasives are used to manufacture transportation components such as auto ancillaries, auto OEMs, bearing & gears, and other transpiration components.
However, factor such as the presence of alternative products is anticipated to hinder market growth over the forecast period. Rubber, shellac, resin or epoxy are bonding materials that are commonly used to manufacture bonded abrasives. Among these, resin bonded abrasives have many advantages over rubber-bonded abrasives including high efficiency, low temperature during operations, and others. Therefore, the presence of alternative products for rubber-bonded abrasives and new product innovations across multiple verticals have been limiting market growth.
Browse key industry insights spread across 210 pages with market data tables & figures & charts from the report, Rubber Bonded Abrasives Market by Application (Heavy Industries, Transportation Components, Electrical & Electronic Equipment, Medical Equipment) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/rubber-bonded-abrasives-market/136
Asia Pacific is estimated to account for the highest CAGR in the rubber-bonded abrasives market over the forecast period. Ongoing industrialization activities such as construction & manufacturing and increasing disposable income are also boosting the demand for rubber-bonded abrasives in the Asia Pacific region. Moreover, In Asia Pacific, the local abrasives market is mainly dominated by the local abrasives manufacturers. Also, Asia-based abrasives manufacturers export abrasives to other regions of the world.
Some prominent players in the global rubber-bonded abrasives market include Saint-Gobain, Tyrolit Group, PFERD INC. (August Rüggeberg GmbH & Co. KG), CUMI (Murugappa Group), ABRASIVOS MANHATTAN, S.A., Pacer Industries, Inc., atto Abrasives Limited, Schwarzhaupt GmbH & Co. Kg, Marrose Abrasives, Cratex, and others.
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