Resin Bonded Diamond Grinding Wheel Market was valued at USD 1.45 Billion in 2022 and is projected to reach USD 2.35 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The global resin bonded diamond grinding wheel market was valued at approximately USD 2.5 billion in 2022. The market is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030. This growth is driven by increasing industrial applications in sectors such as automotive, aerospace, and metalworking, where precision and durability are paramount. As of 2022, the market's robust expansion reflects the rising demand for high-performance grinding solutions that offer superior material removal rates and enhanced surface finishes.
Opportunity analysis indicates that emerging markets in Asia-Pacific, particularly India and China, present significant growth potential due to rapid industrialization and infrastructure development. Additionally, advancements in diamond wheel technology and increased adoption of resin-bonded wheels in precision grinding applications offer lucrative opportunities for market expansion. The ongoing trends towards automation and increased investment in manufacturing capabilities are expected to further propel market growth in these regions. The evolving market dynamics highlight the potential for substantial gains in resin bonded diamond grinding wheel applications globally.
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Saint-Gobain
Klingspor
3M
Mirka
Noritake
Northern Grinding Wheels
Kure Grinding Wheel
Camel Grinding Wheels
Tyrolit Group
SHIN-EI Grinding Wheels
Andre Abrasive
DK Holdings
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Resin Bonded Diamond Grinding Wheel Market
Transport Industry
Construction
Bearing & Machinery
Steel Industry
Others
Based on Types the Market is categorized into Below types that held the largest Resin Bonded Diamond Grinding Wheel market share In 2023.
Parallel Grinding Wheel
Parallel Belt Arc Grinding Wheel
Double Sided Concave Grinding Wheel
Double Bevel Grinding Wheel
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Resin Bonded Diamond Grinding Wheel Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Resin Bonded Diamond Grinding Wheel Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Resin Bonded Diamond Grinding Wheel Market, By Type
6. Global Resin Bonded Diamond Grinding Wheel Market, By Application
7. Global Resin Bonded Diamond Grinding Wheel Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Resin Bonded Diamond Grinding Wheel Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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