PUNE, India, January 13, 2017 /PRNewswire/ --
The report "Rubber Bonded Abrasives Market by Application (Heavy Industries, Transportation Components, Electrical & Electronic Equipment, Medical Equipment), and Region - Global Forecast to 2026", published by MarketsandMarkets, the market is projected to reach USD 1.47 Billion by 2026, at a CAGR of 3.1% from 2016 to 2026.
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Browse80 market data Tables and43 Figures spread through130 Pages and in-depth TOC on"Rubber Bonded Abrasives Market"
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The market is driven by increased demand for rubber bonded abrasives for auto ancillaries, aerospace, construction, cleaning & maintenance, medical, food packaging, and heavy industries.
Based on application, the heavy industries segment accounted for the largest share of the rubber bonded abrasives market in 2015
Based on application, the heavy industries segment is estimated to account for the largest share of the rubber bonded abrasives market in 2015. Rubber bonded abrasives are used for cutting and grinding small tools such as screwdrivers, plumbing tools, and other specialty tools, as they do not hamper the quality of metals and are softer as compared to other types of bonded abrasives. In addition, rubber bonded abrasives are used in the steel industry for removing scale or defects from the surface of slabs and in different grinding processes for different kinds of rolls.
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Rising demand for rubber bonded abrasives in the Asia-Pacific region is expected to drive the market during the forecast period
Asia-Pacific accounted for the largest share of the Rubber Bonded Abrasives Market in 2015 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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Key companies profiled in the rubber bonded abrasives market research report are 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).
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