Rubber Bonded Abrasive Market

Market Overview

The global rubber-bonded abrasive market size was valued at USD 1.2 billion in 2023 and is projected to reach USD 1.8 billion by 2032, registering a CAGR of 4.6% during the forecast period (2024-2032). Rising demand for rubber-bonded abrasives from various end-user sectors, such as the metal industry, and the flexibility afforded by rubber-bonded abrasives are the two primary drivers driving the rubber-bonded abrasives market growth.

Rubber-bonded abrasives are abrasive compounds bound together with rubber as a bonding agent. These abrasives combine abrasive grains (such as aluminum oxide, silicon carbide, or diamond) with rubber and other additives, then mold or shaping the mixture into various shapes like wheels, discs, or belts. The rubber bond acts as a strong and flexible matrix, retaining the abrasive grains while allowing for controlled wear and effective material removal during grinding, polishing, cutting, or finishing operations.

The global rubber-bonded abrasive market share is primarily driven by increased demand from the precious metals industry. Furthermore, the market will be driven by flexibility in rubber-bonded abrasives. Furthermore, there is a high need for various hand-held machines such as angle grinders, vertical grinders, and petrol saws for cutting and grinding purposes. Furthermore, as technology advances and machines replace human labor in companies, the need for these machines in the industrial segment grows. Consequently, propelling the growth of the global rubber-bonded abrasive market. Growing product usage in hot melt adhesives and agricultural films, notably in Latin America, will drive regional demand.

Furthermore, improvements in the use of medical equipment and other applications such as medical scissors, artificial joint surface polishing, and polishing medical tweezers will drive market growth. However, machine parameter restrictions are projected to limit market growth during the projection period. Furthermore, the proximity of alternative items is expected to impede market growth throughout the projection period. 

Highlights

• Natural rubber-bonded abrasives account for the largest market share by product.
• Heavy Industries generates the highest revenue share by application.

Market Dynamics

Rubber Bonded Abrasive Market Drivers

Increasing Demand from End-Use Industries

The automotive industry is a significant consumer of rubber-bonded abrasives worldwide. Abrasives are widely utilized in automobile production, including machining, grinding, deburring, and surface finishing of metal components such as engine parts, transmission gears, brake components, and body panels. For example, rubber-bonded grinding wheels are used to precision-grind crankshafts, camshafts, and cylinder heads to precise tolerances, ensuring that automotive engines run smoothly and function optimally. 

Additionally, the expanding production of electric vehicles (EVs) and the requirement for specialized machining methods to make lightweight materials used in E.V. components are predicted to increase demand for abrasives in these applications. Global electric vehicle (E.V.) sales reached 13 million units in 2023, representing a 29.8% rise over 2022 but considerably decelerating from the 54.2% growth rate in 2022. This comprises battery-electric cars (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs). For the first time, BEV sales exceeded two million units in Q4 2023, a 24% increase over the previous year. The PHEV market is much smaller, with only 2.8 million units sold in 2023, but it is growing at an 84% rate. 

Similarly, rubber-bonded abrasives are essential for producing crucial components like turbine blades, engine casings, landing gear, and structural elements in the aircraft industry. These components must be precision machined and surface finished to achieve strict quality standards and assure aircraft safety and reliability. In 2023, the value of aircraft deliveries was USD 23.4 billion, up around 2.2% from 2022. Piston helicopter deliveries rose 7.7% to 209 units, while early civil-commercial turbine helicopter deliveries grew 10.4% to 753 units. 

Morever, as the aerospace sector expands, so will the demand for abrasives to manufacture crucial aircraft components, boosting market expansion even further. As these industries advance and innovate, the need for abrasives for precision machining and surface finishing applications is likely to increase, creating attractive prospects for manufacturers in the rubber-bonded abrasive market.

Rubber Bonded Abrasive Market Restraints

Environmental rules governing the use and disposal of abrasive materials and growing sustainability concerns present hurdles for the rubber-bonded abrasive business. Stringent regulations to lower ecological effects and promote sustainable practices may limit the use of some abrasive materials or encourage firms to invest in more environmentally friendly alternatives. Additionally, regulatory authorities and environmental organizations are concerned about abrasive waste disposal and potentially discharging dangerous contaminants into the environment.

In addition, many countries and areas have enacted restrictions to minimize particulate matter emissions, including those caused by abrasive machining operations. Abrasive dust contains abrasive particles, metal residues, and bonding agents and can be hazardous to health and the environment if not adequately controlled and handled. The U.S. Environmental Protection Agency's Clean Air Act and the European Union's Industrial Emissions Directive regulate particulate emissions from manufacturing processes, including abrasive machining.

According to the World Health Organization (WHO), exposure to airborne particulate matter, including abrasive dust, is linked to respiratory and cardiovascular disorders and negative environmental consequences such as air pollution and soil contamination. The Occupational Safety and Health Administration (OSHA) in the United States has set acceptable exposure limits (PELs) for airborne particles, including those produced by abrasive machining techniques. To expose workers to abrasive dust below certain levels, employers must employ engineering controls, such as local exhaust ventilation and dust collecting systems.

Whereas, in Europe, the usage and handling of chemicals, including abrasive materials and bonding agents used in rubber-bonded abrasives, is governed by the REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) and CLP (Classification, Labeling, and Packaging) regulations. Manufacturers must follow these requirements to ensure the safe use and disposal of abrasive items and components.

Rubber Bonded Abrasive Market Opportunity

Rising Demand for Advanced Materials in Manufacturing

The aerospace sector is at the forefront of using innovative materials like carbon fiber composites, titanium alloys, and ceramic matrix composites (CMCs) to create lightweight, high-performance aircraft components. These new materials have higher strength-to-weight ratios, corrosion resistance, and thermal stability than typical metals, creating more fuel-efficient and ecologically friendly aircraft. According to a Boeing report, global demand for commercial aircraft is expected to exceed 43,610 units over the next 20 years, valued at USD 7.2 trillion. Factors driving this need include fleet expansion, replacing older aircraft, and rising air travel demand, particularly in emerging nations.

In the automotive sector, innovative materials such as high-strength steels, aluminum alloys, and carbon fiber composites are increasingly used to meet fuel economy criteria, increase vehicle performance, and improve safety. Advanced materials allow automakers to reduce vehicle weight, improve structural integrity, and include cutting-edge designs and functions. Epsilon Advanced Materials (EAMPL), a Mumbai-based battery materials maker, has signed a Memorandum of Understanding (MoU) with KRI Inc., a well-known Japanese research business, to establish a cutting-edge Advanced Technology Center with an investment of Rs 300 crore. 

Moreover, the growing demand for sophisticated materials in areas like aerospace and automotive creates a considerable opportunity for rubber-bonded abrasives. Rubber-bonded abrasive manufacturers can benefit from this trend by producing specific abrasive solutions customized to the machining requirements of innovative materials, thereby increasing their competitiveness and market position in the global manufacturing environment.

Regional Analysis

The global rubber-bonded abrasive market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant global rubber-bonded abrasive market shareholder and is estimated to grow at a CAGR of 4.8% over the forecast period. China is one of Asia-Pacific's fastest-growing economies. China's geographical location allows for easy access to neighboring countries' industrial product markets and worldwide markets, making it a key access point for manufacturers and suppliers. As a result, China now ranks as the world's largest manufacturer. The country's manufacturing industry continues to increase due to the rapid adoption of new technology. The country boasts the world's largest electronics manufacturing and services industries.

Furthermore, India's industrial machinery, healthcare, and manufacturing sectors have experienced increasing growth due to commercial and government investments and massive FDI inflows, which have fueled the country's demand for rubber-bonded abrasives. Also, Japan's electronics and high-tech product exports drive the country's economic growth. As the country supports domestic and international demand for electronics and other technology, the consumption of rubber-bonded abrasive materials is expected to rise. 

North America is anticipated to exhibit a CAGR of 5.0% over the forecast period. The North American rubber-bonded abrasive market is an essential component of the global abrasive industry, driven by various reasons such as industrial growth, technical advancements, and the region's strong manufacturing infrastructure. North America will manufacture 15.56 million light vehicles in 2023, a 9.5% increase from 14.22 million in 2022. This is a four-year high, and the fourth quarter of 2023 saw 3.708 million units manufactured, a 4.1% increase over the same period in 2022. This reflects the high need for abrasives in vehicle manufacturing. Furthermore, the U.S. Department of Commerce estimated that the motor vehicle and component manufacturing business will contribute to the US GDP in 2023. The automobile sector provides 3% of the US GDP. 

Additionally, according to the Aerospace Industries Association (AIA), the aerospace and defense (A&D) business will generate USD 418 billion in economic value for the U.S. economy in 2023, accounting for 1.65% of total nominal GDP. This is about 7% higher than in 2021. Furthermore, the U.S. Bureau of Economic Analysis (BEA) projected that aerospace product and parts manufacturing would increase in 2023, with a market value of USD 925.5 billion. 

Europe is home to several significant automobile manufacturers and suppliers, making it an essential market for rubber-bonded abrasives in vehicle manufacturing. According to the European Automobile Manufacturers Association (ACEA), the automobile industry accounts for 7% of the E.U.'s total GDP. According to the European Federation of Abrasive Producers (FEPA), the automotive sector accounts for a significant portion of abrasive consumption in Europe, emphasizing the importance of automobile manufacturing as a driver of demand for rubber-bonded abrasives.

Segmental Analysis

The global rubber-bonded abrasive market is segmented based on product and application.

The market is further segmented by product into natural rubber-bonded abrasives and synthetic rubber-bonded abrasives.

The Natural Rubber Bonded Abrasives category is expected to have the greatest CAGR over the forecast period. Natural rubber bonded abrasives use rubber sourced from natural sources, such as latex from rubber trees. These abrasives combine natural rubber, abrasive grains, and other additives to generate a strong and flexible bonding matrix. Natural rubber has high elasticity, tear resistance, and resilience, making it ideal for applications requiring flexibility and control, such as contour grinding and finishing operations. Natural rubber-bonded abrasives are chosen in particular applications due to their excellent vibration-dampening qualities, which reduce chatter and vibration during machining. In addition, natural rubber is biodegradable and environmentally benign, which aligns with manufacturing sustainability objectives. Factors contributing to the segment's growth include its increased use for various end-use applications.

Synthetic rubber bonded abrasives are made using synthetic rubber compounds, which are created by chemical synthesis rather than extraction from natural sources. Synthetic rubbers have various features and characteristics that can be customized to specific application needs, such as hardness, flexibility, and chemical resistance. These abrasives have high bonding strength, durability, and uniformity, making them ideal for precision grinding, cutting, and surface finishing operations in various industries. Synthetic rubber-bonded abrasives have advantages such as increased heat resistance, oil resistance, and temperature stability, making them ideal for high-speed machining and harsh settings. Synthetic rubber formulas can also be improved for performance and cost-effectiveness, giving manufacturers and end-users more flexibility and customization possibilities.

The market can be bifurcated by application into heavy industries, transportation components, electrical and electronic equipment, and medical equipment.

The Heavy Industries category is expected to have the greatest CAGR during the projection period since these abrasives are easier to use and more flexible during operations than other bonded abrasives. Rubber-bonded abrasives are widely used in heavy industries for surface preparation, weld blending, and material removal from large-scale metal components. Rubber-bonded abrasives provide constant performance and outcomes in heavy industries such as construction, mining, and shipbuilding. These abrasives deburr, grind, and polish heavy equipment parts, structural components, and fabricated metal assemblies. Furthermore, increased global steel manufacturing and foundries will enhance the demand for rubber-bonded abrasives.

Rubber-bonded abrasives manufacture numerous components for automobiles, aviation, trains, and marine vessels. They are used to machine and finish engine, gearbox, braking, and chassis components. Rubber-bonded abrasives allow for precision shaping, grinding, and polishing of transportation components while maintaining dimensional accuracy, surface integrity, and performance reliability.

Recent Developments

• January 2024: 3M debuted the world's first self-charging, protected communications headset.
• January 2024: The Tyrolit Group, a major abrasives company, made a substantial initiative to strengthen its presence in the Australian market. Tyrolit makes a strategic investment by acquiring a majority stake in ATS (Abrasive Tools Specialists), a well-known wholesaler, importer, and converter of abrasive tools.