The rubber bonded abrasives market is estimated to reach USD 1.47 billion by 2026, at a CAGR of 3.1% from 2016 to 2026. Rubber bonded abrasives are used in floor polishing, fabrication, off-hand tool grinding, and precision grinding applications. It finds usage in industries such as metal, steel, transportation, electrical & electronic, medical, and other heavy industries. Rubber bonded abrasives do not hamper the quality of metals and are softer as compared to the other types of bonded abrasives. The growing demand for rubber bonded abrasives from industries such as metal, steel, transportation, electrical & electronic, medical, and other heavy industries has fueled the growth of the rubber bonded abrasives market.
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Rubber bonded abrasive is used in heavy industries application for specific needs that range from initial processing of metal to manufacturing of finished products. Rubber bonded abrasives are used in foundries where fixed points are utilized, and for general precision in cutting and grinding of the extremely minute details of tools as they are very flexible. In addition, the steel industry has widespread application of rubber bonded abrasives, mainly for the purpose of removing scale or defects from the surface of slabs. Therefore, the growing heavy industries application drives the growth of rubber bonded abrasive market.
Asia-Pacific accounted for the largest share of the rubber bonded abrasives market and is expected to grow at the highest rate from 2016 to 2026. China is currently the largest market in Asia-Pacific region for rubber bonded abrasives and is expected to lead the market during the forecast period. India is the fastest-growing market for rubber bonded abrasives. Increasing demand for rubber bonded abrasives from auto ancillaries, aerospace, metal, construction, cleaning & maintenance, medical, food packaging, and heavy industries for precision cutting and grinding of tools such as screwdrivers, plumbing tools, and other specialty tools is expected to drive the rubber bonded abrasives market in these countries.
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Market players are expected to employ organic and inorganic growth strategies such as new product launches, research & development, mergers & acquisitions, and partnerships to expand their overall business worldwide. Key companies operating in this market are enhancing their presence in emerging markets and strengthening their distribution network globally. Growth strategies adopted by the market players are expected to lead to sustainable growth of the rubber bonded abrasives market in the future.
3M Company (U.S.), Tyrolit Group (Austria), PFERD INC (Germany), Y.IKEMURA Co. LTD. (Japan), Abrasivos Manhattan SA (Spain), PACER Industries Inc. (U.S.), Buffalo Abrasives Inc. (U.S.), Schwarzhaupt GmbH & Co. (Germany), Saint Gobain (France), Cratex Manufacturing Co. (U.S.), Marrose Abrasives (U.K.), Atto Abrasive Ltd (Ireland), Lowton Abrasive Ltd (U.K.), Buehler (U.S.), and Artifex Dr Lohmann Gmbh & Co KG (Germany) are the key companies manufacturing rubber bonded abrasives.
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