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Table of Contents
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Market Size of Rubber Bonded Abrasive Industry
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Study Period
2019 - 2029
Base Year For Estimation
2023
Forecast Data Period
2024 - 2029
CAGR
3.00 %
Fastest Growing Market
Asia Pacific
Largest Market
Asia Pacific
Market Concentration
Low
Major Players
*Disclaimer: Major Players sorted in no particular order
Rubber Bonded Abrasive Market Analysis
The global market for rubber bonded abrasive is expected to grow at a CAGR of over 3% during the forecast period. The major factor driving the market studied is the growing demand from metal and steel industries over the forecast period. On the flip side, environmental constraints due to the production of rubber bonded abrasives and unfavorable conditions arising due to the COVID-19 outbreak are expected to hinder the growth of the market.
The industrial machinery segment is expected to dominate the market studied over the forecast period.
Asia-Pacific region dominated the rubber bonded abrasives market and is also forecasted to be the fastest-growing market during the forecast period owing to the increasing consumption for countries such as China and India.
Rubber Bonded Abrasive Industry Segmentation
The Rubber Bonded Abrasive market report includes:
Application Powertrain Gear Bearing Turbines Others
End-user Industry Industrial Machinery Automotive Electrical & Electronics Healthcare Others
Geography Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
North America United States Canada Mexico
Europe Germany United Kingdom Italy France Rest of Europe
South America Brazil Argentina Rest of South America
Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
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Rubber Bonded Abrasive Market Size Summary
The rubber bonded abrasive market is poised for growth, driven primarily by increasing demand from the metal and steel industries. These abrasives, known for their high strength and elasticity, are integral in various industrial applications, including flexible wheels, snagging work in foundries, and wet cut-off operations. Their role in production and assembly lines, tool and machine shops, and maintenance and repairs underscores their importance in heavy industries. Despite the positive outlook, environmental concerns related to production processes and challenges stemming from the COVID-19 pandemic pose potential obstacles to market expansion. The industrial machinery segment is anticipated to lead market growth, reflecting the rising need for precision and longevity in industrial grinders and cutting machines.
The Asia-Pacific region is expected to dominate the rubber bonded abrasive market, with China and India playing pivotal roles in this growth trajectory. China's robust manufacturing sector, bolstered by technological advancements and strategic geographical positioning, makes it a key player in the global market. Similarly, India's industrial machinery and healthcare sectors are experiencing significant growth, supported by substantial investments and foreign direct investment inflows. Japan's strong export of electronics and high-technology products further fuels demand for these abrasives. The market remains partially fragmented, with major companies like 3M and Schwarzhaupt GmbH & Co. KG holding a marginal share, indicating opportunities for growth and competition among players.
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Rubber Bonded Abrasive Market Size - Table of Contents
1. MARKET DYNAMICS
1.1 Drivers
1.1.1 Growing Demand from Metal and Steel Industries
1.1.2 Other Drivers
1.2 Restraints
1.2.1 Environmental Constraints
1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
1.3 Industry Value Chain Analysis
1.4 Porters Five Forces Analysis
1.4.1 Threat of New Entrants
1.4.2 Bargaining Power of Buyers
1.4.3 Bargaining Power of Suppliers
1.4.4 Threat of Substitute Products
1.4.5 Degree of Competition
2. MARKET SEGMENTATION
2.1 Application
2.1.1 Powertrain
2.1.2 Gear
2.1.3 Bearing
2.1.4 Turbines
2.1.5 Others
2.2 End-user Industry
2.2.1 Industrial Machinery
2.2.2 Automotive
2.2.3 Electrical & Electronics
2.2.4 Healthcare
2.2.5 Others
2.3 Geography
2.3.1 Asia-Pacific
2.3.1.1 China
2.3.1.2 India
2.3.1.3 Japan
2.3.1.4 South Korea
2.3.1.5 Rest of Asia-Pacific
2.3.2 North America
2.3.2.1 United States
2.3.2.2 Canada
2.3.2.3 Mexico
2.3.3 Europe
2.3.3.1 Germany
2.3.3.2 United Kingdom
2.3.3.3 Italy
2.3.3.4 France
2.3.3.5 Rest of Europe
2.3.4 South America
2.3.4.1 Brazil
2.3.4.2 Argentina
2.3.4.3 Rest of South America
2.3.5 Middle-East and Africa
2.3.5.1 Saudi Arabia
2.3.5.2 South Africa
2.3.5.3 Rest of Middle-East and Africa
Rubber Bonded Abrasive Market Size FAQs
What is the current Rubber Bonded Abrasive Market size?
The Rubber Bonded Abrasive Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Rubber Bonded Abrasive Market?
3M, ABRASIVOS MANHATTAN, S.A. , Schwarzhaupt GmbH & Co. KG, Atto Abrasive Ltd and Marrose Abrasives are the major companies operating in the Rubber Bonded Abrasive Market.
Rubber Bonded Abrasive Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
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