12-Jun-2019 | Zion Market Research
Zion Market Research has published a new report titled “Abrasive Wheels Market by Product (Bonded Wheels and Super Abrasive Wheels) and by Material Type (Aluminum Oxide, Zirconia Alumina, Silicon Carbide, and Ceramic Aluminum Oxide): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global abrasive wheels market was approximately USD 10.9 billion in 2018 and is expected to generate around USD 17.39 billion by 2026, at a CAGR of around 6.01% between 2019 and 2026.
Abrasive wheels are made of an abrasive compound that is used for various grinding operations. These wheels are generally made of composite materials, which constitute coarse particles bonded and pressed together via bonding to form a solid circular shape. There has been an increase in the number of research and development activities along with with with technological advancements over the last few years to make the bonding process more efficient. The major driver of the global abrasive wheels market is the flourishing automobile industry. The automobile industry uses abrasive grinding wheels in many processes, as these wheels give a better finish to the product and are easy to use. There is also a significant increase in the use of centerless grinders, which are newly developed advanced abrasive wheels. However, the various challenges faced during the grinding process, such as not getting the expected finish or dust particles being spread in the environment, are among some market restraints. Alternatively, ongoing research and development, to make the process of abrasive wheels more easy and efficient, is underway.
Browse the full “Abrasive Wheels Market by Product (Bonded Wheels and Super Abrasive Wheels) and by Material Type (Aluminum Oxide, Zirconia Alumina, Silicon Carbide, and Ceramic Aluminum Oxide): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/abrasive-wheels-market
By product, the abrasive wheels market is divided into bonded wheels and super abrasive wheels. Bonded wheels are expected to contribute the maximum revenue in the years ahead. Bonded wheels are highly efficient and can hold the abrasive grains efficiently, which actually grinds the surface on wheels within the wheels. There is a growing demand for bonded wheels as they are efficient and cost-effective apart from being extensively used by the automobile industry.
Based on material type, the global abrasive wheels market is divided into aluminum oxide, zirconia alumina, silicon carbide, and ceramic aluminum oxide. Aluminum oxide is estimated to hold maximum market share, in terms of revenue, in the future. Aluminum oxide is tough, has higher resistant to fracture, and is a highly economical product, which makes it one of the most widely used abrasives in the market. The market for aluminum oxide will grow in the future, as it’s an excellent substitute for diamonds and through latest technological advancements.
Geographically, the Asia Pacific abrasive wheels market is estimated to hold the maximum share globally, in terms of revenue, throughout the forecast time period. This regional dominance can be attributed to the presence of several automobile component manufacturers in China and South Korea and the increasing demand for automobiles.
Some key players present in the global abrasive wheels market are 3M, SuperAbrasives, Saint-Gobain, NORITAKE, KLINGSPOR Abrasives, DSA Products, Andre Abrasive Articles, DEERFOS, Camel Grinding Wheels Works, and Tyrolit Group.
This report segments the global abrasive wheels market into:
Global Abrasive wheels Market: By Product
Global Abrasive wheels Market: By Material Type
Global Abrasive wheels Market: By Region
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