Rubber Bonded Abrasives Market to experience an impressive growth of 4.2 % during 2020-2025
February 03, 2020
Rubber bonded abrasives market is likely to witness a modest CAGR of 4.2% during the forecast period. Rubber bonded abrasive is employed in heavy industries application for explicit requirements that vary from primary processing of metal to engineering of completed products. Rubber bonded abrasives are adopted in foundries where static points are applied and 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 industries application drives the growth of the global rubber bonded abrasives market.
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Rubber Bonded Abrasives Market Segment Insights:
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.
By Region:
In terms of regions, Asia-Pacific is estimated to burgeon at the highest growth in the rubber bonded abrasives 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. Majority of the manufacturing giants are directing on the evolving markets in 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.
By Key Players:
Some of the major players in the rubber bonded abrasives 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., and Lowton Abrasive Ltd.
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- 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, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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