Grinding Wheel Market to Expand by USD 5.02 Billion (2024-2028), Driven by Steady Demand from Oil and Gas Industries, AI Impacting Market Trends - Technavio

NEW YORK, Nov. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global grinding wheel market size is estimated to grow by USD 5.02 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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Market Driver

The grinding wheel market is thriving, driven by the demand for abrasive tools in various industries. Bonded abrasive grains, including diamond, silicon carbide, and aluminum oxide, are popular choices for metalworking and woodworking applications. Innovations in materials, such as composite materials and artificial aggregates, offer improved wear resistance, accuracy, and surface finish. Precision machining and optimal surface quality are crucial for industries like transport, construction, bearing and machinery, and steel. Safety regulations are essential to prevent mishaps and damage during grinding, polishing, and abrasive cutting operations. Grinding machines, including cylindrical, cup, and disc wheels, are integral to manufacturing activities. Cleaning processes and sustainable manufacturing techniques are also trends in the market. Natural composite stones, such as millstones, and artificial composites are used for grinding and polishing. Solid steel and aluminum discs are popular choices for industrial applications. 

Modern CNC grinding systems incorporate advanced software for controlling position, velocity, and acceleration. Artificial Intelligence (AI) technology enables machines to make decisions based on sensor input, automating repetitive tasks without human intervention. AI analyzes data from measurement equipment to optimize feed rates, prevent thermal damage, and initiate feed cycle changes. By continuously monitoring the grinding process, AI enhances productivity and precision while reducing operator intervention. This intelligent technology is a game-changer for the grinding wheel market, streamlining manufacturing processes and improving overall efficiency. 

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Market Challenges

• The grinding wheel market faces several challenges in various industries like metalworking and woodworking. Abrasive tools, including bonded abrasive grains of diamond, silicon carbide, and aluminum oxide, require high accuracy, wear resistance, and optimal surface finish for precision machining. Safety regulations are crucial to prevent mishaps and damage during grinding, polishing, and cleaning processes. Industrialization and manufacturing activities increase the demand for grinding wheels in sectors like transport, construction, bearing and machinery, and steel. Innovative materials, such as composite materials and artificial aggregates, are used to create cylindrical, cup, and disc wheels in circular shapes with specific profiles and cross sections. Sustainable manufacturing techniques are essential to address environmental concerns. For instance, natural composite stones like millstones are being replaced by artificial composites and artificial aggregates. In abrasive cutting and machining operations, grinding machines use abrasive compounds to ensure dimensional accuracy and optimal surface quality. Solid steel and aluminum discs are popular choices due to their durability and wear resistance. The transport industry, construction, and steel industry rely heavily on these grinding wheels for their grinding, polishing, and cutting needs. Overall, the grinding wheel market continues to evolve, driven by advancements in materials and manufacturing techniques.
• Grinding is a process that involves removing metal from a surface through abrasion, resulting in a smooth finish. The generation of heat during grinding is significant and can impact both the grinding wheel and the workpiece. For the grinding wheel, the heat can lead to the development of grinding cracks at right angles to grinding marks, which eventually necessitate wheel replacement and increase operational costs. Conversely, the workpiece absorbs most of the heat produced and is more susceptible to its effects, which could potentially impact the quality of the final product. Therefore, understanding the thermal effects of grinding is crucial for optimizing the process and minimizing costs.

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Segment Overview 

This grinding wheel market report extensively covers market segmentation by  

1. Type 
• 1.1 Straight wheels
• 1.2 Cylindrical wheels
• 1.3 Diamond wheels
• 1.4 Others
2. Material 
• 2.1 Artificial abrasives
• 2.2 Natural abrasives
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Straight wheels-  Straight grinding wheels are a fundamental type of abrasive wheels, commonly used for cylindrical, centerless, and surface grinding applications. These wheels come in various sizes, diameters, and widths, making them suitable for diverse grinding tasks. They are primarily employed to create a slight concave surface on the workpiece. The automotive, aerospace, and shipbuilding industries extensively use straight wheels due to their wide application in manufacturing components that undergo the grinding process. The growth of these industries is projected to boost the demand for straight grinding wheels worldwide.

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Research Analysis

The Grinding Wheel Market encompasses a wide range of abrasive tools used for various applications in industries such as metalworking and woodworking. These tools include cylindrical grinding wheels, cup wheels, and disc wheels, which are essential for grinding, polishing, and cleaning surfaces. The market is driven by the demand for efficient and high-performance abrasive tools in industries like transport, construction, bearing and machinery, and steel. Material innovations have led to the development of advanced abrasive compounds, bonded abrasive grains, and composite materials. Coarse-particle aggregates and cementing matrices are used to create strong bonds, ensuring the durability and effectiveness of the grinding wheels. Abrasive cutting and machining operations rely heavily on grinding machines, which utilize these wheels to shape and finish materials. The use of grinding wheels extends beyond industrial applications, with applications in the transport industry for vehicle maintenance and in the woodworking industry for sanding and shaping wood. Overall, the Grinding Wheel Market continues to evolve with advancements in technology and materials, providing solutions for a diverse range of industries and applications.

Market Research Overview

Grinding wheels are essential tools in various industries for grinding, polishing, and cleaning surfaces to achieve optimal surface quality. Made of bonded abrasive grains such as aluminum oxide, silicon carbide, and diamond, these wheels cater to diverse applications in the metalworking and woodworking industries. Material innovations continue to shape the market with the use of composite materials, artificial aggregates, and natural composite stones. The transport industry, construction, and steel industry heavily rely on grinding wheels for precision machining and wear resistance. Safety regulations are paramount to prevent mishaps and damage during grinding operations. Grinding machines, cylindrical, cup, and disc wheels, are used for different applications, including abrasive cutting and machining operations. Innovative materials and sustainable manufacturing techniques ensure accuracy, dimensional accuracy, and surface finish while reducing waste and improving efficiency. Abrasive compounds, coarse-particle aggregate, cementing matrix, and bond types further enhance the functionality and performance of grinding wheels.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Straight Wheels
• Cylindrical Wheels
• Diamond Wheels
• Others
• Material
• Artificial Abrasives
• Natural Abrasives
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio