As per the latest report published by Fact.MR, a market research and competitive intelligence provider, the global Cutting Wheels market is expected to have value of US$ 2.24 Bn in 2022 at a CAGR of 4.5% from 2022 to 2032. With increasing consumption of cutting discs and the other industrial equipment.
Cutting wheels come across as thin discs made out of alloys or metals used for cutting. They are generally utilized with the grinding machines for performing various operations. The biggest advantage is that the cutting operations get performed with utmost precision, along with being cost-effective. Thus, the Cutting Wheels market is bound to reach US$ 3.48 Bn by the year 2032.
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Growing industrialization is expected to catalyse the manufacturing and industrial facilities, which would, in turn, drive utility of industrial equipment in the next few years.
Key Segments Covered in Cutting Wheels Industry Research
- Cutting Wheels Market by Wheel Type :
- Straight Cutting Wheels
- Depressed Center Cutting Wheels
- Cutting Wheels Market by Disc Material :
- Cast Iron
- Steel
- Other Materials (Nickel, Alloys, Titanium, Aluminium)
- Cutting Wheels Market by Abrasive Type :
- Aluminum Oxide
- Silicon Carbide
- Aluminum Zirconium
- Seeded Gel
- Diamond Cutting Wheels
- Cutting Wheels Market by Grit Size :
- Coarse (8-24 CAMI Units)
- Medium (30-60)
- Fine (70-180)
- Very Fine (220-600)
- Cutting Wheels Market by Application :
- Metal Cutting
- Masonry
- Ceramic Cutting
- Notching
- Cutting Wheels Market by End-use Industry :
- Transportation
- Automotive
- Aerospace
- Marine
- Construction
- Metal Working
- Shipbuilding
- Cutting Wheels Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Takeaways from Market Study
- North America holds close to 22% of the entire market.
- Europe leads with 26% of the overall market share.
Market Developments
The competitive market is into ushering new entrants, who could leverage new manufacturing technologies for creating better industrial equipment to cater to specific applications. .
- Foundation Alloy, a start-up founded in February 2022, specializes in high-performance metal manufacturing. It did raise US$ 10.5 Mn with regards to seed funding two months back. The Engine and Material Impact was co-leading this seed funding. As per the start-up, it is capable of manufacturing parts by optimum usage of energy with less dissipation.
- Saint-Gobain Abrasives announced launching the upgraded Norton Gemini grinding wheels. They carry a new-fangled premium alumina grain and have advanced bond technology ingrained in it.
