North America Resin Bonded Abrasives Market 2023

Description
Resin bonded abrasives are produced by combining abrasive grains, such as aluminum oxide, silicon carbide, or diamond, with a binder made of resin. This binder plays a crucial role in holding the abrasive grains together, creating a solid and durable abrasive tool or product. Various types of resin binders can be used, including phenolic resin, epoxy resin, or polyimide resin, depending on the specific application requirements.

The demand for resin bonded abrasives is closely linked to industrial growth and manufacturing activities. Industries such as automotive, aerospace, metal fabrication, construction, and electronics heavily rely on resin bonded abrasives for a wide range of applications. These applications include grinding, cutting, and polishing of metals, stones, and other materials. Resin bonded abrasives offer superior performance, precision, and versatility, making them essential tools in these industries’ manufacturing and finishing processes.

In North America, the resin bonded abrasives market is expected to witness substantial growth in the coming years. According to the latest market estimates, it is projected to increase by USD 213.0 million by 2029, with an average annual growth rate of 4.97 percent. The ongoing expansion of industries such as automotive, aerospace, and construction in North America is driving the demand for resin bonded abrasives. These industries require high-quality abrasives to meet their manufacturing and finishing needs, contributing to the market growth.

The construction industry plays a significant role in the demand for resin bonded abrasives. With infrastructure development projects in North America, such as road construction, building construction, and renovation projects, the need for abrasives for tasks like concrete polishing, surface preparation, and cutting of construction materials is expected to rise.

Market Segmentation
Type: common resin bonded abrasive discs, super hard resin bonded abrasive discs, cup-shaped wheels, others
Application: precision grinding, cutting, rough grinding, fabrication, polishing, others
End user: automotive, construction, welding, aerospace, general metalworking, others
Country: USA, Canada, Mexico

This industry report offers market estimates and forecasts of the North America market, followed by a detailed analysis of the type, application, end user, and region. In terms of the type of resin bonded abrasives, the market can be divided into the following segments: common resin bonded abrasive discs, super hard resin bonded abrasive discs, cup-shaped wheels, others. The common resin bonded abrasive discs segment held the largest share of the North America resin bonded abrasives market in 2022 and is anticipated to hold its share during the forecast period. Common resin bonded abrasive discs are widely used across various industries and applications due to their versatility, affordability, and availability. These discs are utilized for tasks such as grinding, cutting, and smoothing surfaces and materials like metal, concrete, ceramics, and composites. The extensive use and applications of common resin bonded abrasive discs make them essential tools in diverse industries, contributing to their market dominance. The demand for common resin bonded abrasive discs is driven by their satisfactory performance in a wide range of applications. They offer balanced levels of hardness, cutting ability, and durability, making them suitable for general-purpose grinding and material removal tasks. Industries such as metalworking, construction, manufacturing, and automotive rely on these discs for everyday operations, further boosting their market share.

Resin bonded abrasives market is further segmented by application: precision grinding, cutting, rough grinding, fabrication, polishing, others. In North America, the precision grinding segment made up the largest share of the resin bonded abrasives market. Precision grinding is a critical process employed across various industries such as automotive, aerospace, medical devices, electronics, and tool manufacturing. It involves the removal of small amounts of material with high accuracy and surface finish requirements. Resin bonded abrasives play a vital role in meeting these stringent precision requirements, making them indispensable tools for precision grinding applications. The demand for precision ground components is increasing in North America due to the rising need for advanced machinery, high-performance tools, and intricate parts with tight tolerances. Industries such as automotive and aerospace rely heavily on precision-ground components to ensure optimal functionality, durability, and performance. This drives the demand for resin bonded abrasives tailored for precision grinding, thereby dominating the market share.

The resin bonded abrasives market can be further divided based on end users, including automotive, construction, welding, aerospace, general metalworking, and others. Among these segments, the construction industry emerged as the largest contributor to the resin bonded abrasives market in North America in 2022. The construction industry is witnessing significant growth in North America, driven by factors such as increasing urbanization, infrastructure development projects, and rising investments in residential and commercial buildings. These construction activities create a robust demand for abrasives in various applications such as cutting, grinding, and polishing of concrete, stones, tiles, and other construction materials. The construction sector has strict quality standards and requirements for finishing and surface preparation. Resin bonded abrasives play a crucial role in meeting these standards by providing efficient and precise material removal, smoothening surfaces, and achieving desired finishes. The reliance on abrasives for construction applications further contributes to the substantial market share of the construction segment.

On the basis of country, the resin bonded abrasives market also can be divided into: USA, Canada, Mexico. USA is estimated to account for the largest share of the resin bonded abrasives market in North America. The USA has a well-established manufacturing sector that spans multiple industries such as automotive, aerospace, construction, and metal fabrication. These industries heavily rely on abrasives for various applications such as grinding, cutting, polishing, and finishing. The demand for high-quality abrasives in these sectors drives the growth of the resin bonded abrasives market in the USA.

Major Companies and Competitive Landscape
The report also provides a detailed analysis of several leading resin bonded abrasives market vendors that include 3M Company, Stanley Black & Decker, Inc., Compagnie de Saint-Gobain S.A., Anchor Abrasives Co, Flexovit International NV, ARC Abrasives, Inc., Camel Grinding Wheels Ltd., Eastwind Diamond Abrasives, Bullard Abrasives, Inc., United Abrasives, Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Scope of the Report
To analyze and forecast the market size of the resin bonded abrasives market in North America.
To classify and forecast the resin bonded abrasives market in North America based on type, application, end user, region.
To identify drivers and challenges for the resin bonded abrasives market in North America.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the resin bonded abrasives market in North America.
To identify and analyze the profile of leading players operating in the resin bonded abrasives market in North America.

Why Choose This Report
Gain a reliable outlook of the resin bonded abrasives market in North America forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
Strategy consulting and research support for three months.
Print authentication provided for the single-user license.

North America Resin Bonded Abrasives Market 2023

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North America Resin Bonded Abrasives Market 2023 - Report Scope
REPORT ATTRIBUTE

DETAILS

Market Size (2022)

USD 602 Million

Base Year

2022

Forecast Year

2023-2029

CAGR (2023-2029)

4.97%

Pages

87

Segments By

Type, Application, End User, Country

Regions Covered

USA, Canada, Mexico

Key Players

3M Company, Stanley Black & Decker Inc., Compagnie de Saint-Gobain S.A., Anchor Abrasives Co, Flexovit International NV, ARC Abrasives Inc., Camel Grinding Wheels Ltd., Eastwind Diamond Abrasives, Bullard Abrasives Inc., United Abrasives Inc.

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