Rubber Bonded Abrasive industry trend and market report from 2017 Rubber Bonded Abrasive | Page 2

Rise in motor vehicles production has led to increase in various industrial products such as
hoses, belts, and gaskets.
Global industrial rubber market size generated over USD 90 billion in 2015 and may surpass
USD 165 billion by 2024, with gains at over 7%. Positive application outlook in construction,
automotive, and manufacturing industries should drive industry growth.
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Rubber bonded abrasive market is gaining importance in automobile industry on account of
required surface finish and design to vehicles. Additionally, they find usage in medical sector
as they are used to sharpen dental tools, which smoothen the edges.
North America, led by the U.S. rubber bonded abrasive market may witness significant gains
by 2024. Many manufacturing companies provide products which are used for polishing and
architectural glass edges.
Increasing steel, metal, medical, transportation and electrical & electronics industry should
contribute towards regional market growth.
Asia Pacific, driven by India, South Korea, Japan, and China rubber bonded abrasive market
size, may grow significantly over the forecast timeframe. Asia Pacific natural rubber
production was over 11 million tons in 2015.
Europe, driven by UK, France, Italy, and Germany rubber bonded abrasive market share,
may account for significant gains by 2024. Most of the companies produces and provide
products which are used in engineering, medical, and aerospace industries.
Companies are focused on enhancing their product portfolio to edge over other competitors
and gain market share.
Aluminium oxide, silicon carbide and zirconia alumina are key raw materials used for rubber
bonded abrasive process. Fluctuating raw material costs may hinder industry profitability
and affect rubber bonded abrasive market price trend.
Saint Gobain has developed high performance centerless grinding wheel, Norton Century
45, which is designed to improve product cost-competitiveness for large and small
operations. It uses silicon carbide and aluminium oxide blends.
Source Report:
https://www.gminsights.com/industry-analysis/rubber-bonded-abrasive-market
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