Grinding Wheel Market size is set to grow by USD 5.01 billion from 2024-2028, Constant demand from oil and gas industries to boost the market growth, Technavio

Nov 01, 2024

Aug 08, 2024, 14:55 ET

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NEW YORK, Aug. 8, 2024 /PRNewswire/ -- The global grinding wheel market size is estimated to grow by USD 5.01 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.36% during the forecast period. Constant demand from oil and gas industries is driving market growth, with a trend towards application of artificial intelligence and system integration. However, operational challenges poses a challenge. Key market players include 3M Co., Andre Abrasive Articles, ATLANTIC GmbH, AWUKO Abrasives Wandmacher GmbH & Co. KG, Camel Grinding Wheels Works Sarid Ltd., Compagnie de Saint Gobain, DEERFOS Co. Ltd., DK Holdings Ltd., DSA Products Ltd., Ekamant, KLINGSPOR Abrasives Inc., Koki Holdings Co Ltd, KOVAX, Murugappa Group, NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd. , Thai GCI Resitop Co. Ltd., Tyrolit KG, and Wendt India Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 - 2022

Segment Covered

Type (Straight wheels, Cylindrical wheels, Diamond wheels, and Others), Material (Artificial abrasives and Natural abrasives), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

3M Co., Andre Abrasive Articles, ATLANTIC GmbH, AWUKO Abrasives Wandmacher GmbH & Co. KG, Camel Grinding Wheels Works Sarid Ltd., Compagnie de Saint Gobain, DEERFOS Co. Ltd., DK Holdings Ltd., DSA Products Ltd., Ekamant, KLINGSPOR Abrasives Inc., Koki Holdings Co Ltd, KOVAX, Murugappa Group, NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd. , Thai GCI Resitop Co. Ltd., Tyrolit KG, and Wendt India Ltd.

Key Market Trends Fueling Growth

Modern CNC grinding systems incorporate advanced software for controlling functions such as position, velocity, and acceleration. Artificial Intelligence (AI) enables machines to make decisions based on sensor input, allowing for continuous, uninterrupted grinding processes. AI analyzes data from sensors within grinding machinery and measurement equipment to optimize feed rates, initiate feed cycle changes, and alert operators for intervention. The collection and analysis of data have become commonplace in manufacturing, enabling predictive maintenance and effective tool selection through AI-assisted decision-making. For instance, AI can recommend appropriate grinding wheel grades and structures using case-based reasoning. By integrating AI into grinding processes, manufacturers can improve efficiency, reduce downtime, and enhance overall production quality.

The Grinding Wheel Market is experiencing significant growth due to increasing trends in abrasive tools for various industries. Bonded abrasive grains, such as aluminum oxide, silicon carbide, and diamond, are popular choices for metalworking and woodworking applications. Innovative materials like composite materials and artificial composites are gaining traction, offering improved wear resistance, accuracy, and surface finish. Precision machining and optimal surface quality are crucial in industries like transport, construction, bearing and machinery, and steel. Safety regulations are strict to prevent mishaps and damage during grinding, polishing, and abrasive cutting operations. Industrialization and manufacturing activities drive the demand for grinding wheels in cylindrical, cup, and disc shapes, with circular profiles and various cross sections. Solid steel and aluminum discs are commonly used, while coarse-particle aggregate and cementing matrix form the bond. Grinding machines employ abrasive compounds to ensure dimensional accuracy and efficient grinding processes. Innovative materials and sustainable manufacturing techniques are essential for enhancing productivity and reducing waste.

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Market Challenges

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Segment Overview

This grinding wheel market report extensively covers market segmentation by

1.1 Straight wheels- Straight grinding wheels are a fundamental type, widely employed in cylindrical, centerless, and surface grinding processes. Their usage varies based on size, diameter, and width. These wheels are commonly found on bench or pedestal grinders. They create a slightly concave surface on the product. Industries like automotive, aerospace, and shipbuilding extensively use straight wheels for manufacturing components undergoing grinding. The growth of these industries during the forecast period is expected to boost the global demand for straight grinding wheels.

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Research Analysis

The Grinding Wheel Market encompasses a wide range of abrasive tools used for various industrial applications, including grinding, polishing, and cleaning in industries such as metalworking and woodworking. The market's growth is driven by the demand for efficient and high-performance abrasive tools. Bonded abrasive grains, made of composite materials with a cementing matrix and coarse-particle aggregate, form the core of grinding wheels. Cylindrical, cup, and disc wheels are common types, each designed for specific applications. Material innovations continue to shape the market, with advancements in abrasive compounds and bonding technologies. Key applications include transport industry, construction, bearing and machinery, and the steel industry. Abrasive machining operations, such as abrasive cutting, are integral to these industries and rely on grinding machines to ensure precision and productivity.

Market Research Overview

The Grinding Wheel Market encompasses a wide range of abrasive tools used in various industries for grinding, polishing, and cutting applications. These tools are primarily made up of bonded abrasive grains, including diamond, silicon carbide, and aluminum oxide. The market caters to the metalworking and woodworking industries, focusing on accuracy, wear resistance, and optimal surface quality. Material innovations continue to shape the market with the use of composite materials, artificial composites, and artificial aggregates in the production of grinding wheels. Safety regulations are a top priority to prevent mishaps and damage during precision machining. The transport industry, construction, bearing and machinery, and steel industry are significant consumers of grinding wheels. Grinding machines, cylindrical grinding wheels, cup wheels, and disc wheels are essential tools for cleaning, grinding, and polishing operations. Abrasive compounds, abrasive cutting, and abrasive machining operations are also integral to the market. The industrialization of manufacturing activities drives the demand for sustainable manufacturing techniques, leading to the development of new bonding technologies and circular grinding wheels with various profiles and cross sections. Solid steel and aluminum discs are popular choices for their durability and versatility. Natural composite stones, such as millstones, are also used for specific applications. Overall, the Grinding Wheel Market continues to evolve with advancements in materials and manufacturing processes to meet the diverse needs of industries.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

About Technavio

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Contacts

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SOURCE Technavio