New Product Launches, and Mergers & Acquisitions Were the key Strategies Adopted by the Major Players to Achieve Growth in the Rubber Bonded Abrasives Market
The rubber bonded abrasives is projected 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. They are preferred as they do not hamper the quality of metals and are softer as compared to the 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 grinding processes for different kinds of rolls. The growing demand for rubber bonded abrasives from industries such as metal, steel, transportation, electrical & electronic, medical, and other heavy industries has propelled the growth of the rubber bonded abrasives market.
New product launches, and mergers & acquisitions were the key strategies adopted by the major players to achieve growth in the rubber bonded abrasives between 2014 and 2016. These strategies accounted for a major share of all the strategies adopted between 2014 and 2016. Some of the major players in the rubber bonded abrasives market 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). Besides new product launches and mergers & acquisitions, companies also adopted the strategies of research & development, and partnerships to strengthen their market share and cater to the increasing demand for rubber bonded abrasives.
Saint Gobain Abrasives and Detroit Speed, manufacturer of high-quality automotive components, entered into a partnership in 2016. According to this, Saint Gobain is expected to supply Norton Abrasives to Detroit Speed for the company’s refinishing application. Detroit Speed will promote the Norton brand on its website and social media as well as in its product catalogues. In addition, in June 2016, Saint Gobain Abrasives launched a new line of centerless grinding wheels. These newly developed wheels reduce cycle time up to 50 percent, improve stock removal up to 30 percent, and increase wheel life.
In July 2016, Atto Abrasive launched the new Atto Alpha Superfinishing range, which includes bonded mounted points, quick change disks, and polishing wheels. Its application includes surface preparation, deburring, and polishing. In addition, in June 2016, Atto Abrasive launched a new Axiom range of polishing wheels for the saw blade industry. It is available in both rubber and cork bond, and in a number of grit types and grit sizes. It is used for polishing saw blades.
Related Reports:
Rubber Bonded Abrasives Market by Application (Heavy Industries, Transportation Components, Electrical & Electronic Equipment, Medical Equipment), and Region - Global Forecast to 2026
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