Properties such as durability, longevity, strength and performance have always boded well for super abrasives. It is mainly because the longer the shelf-life and the shorter the downtime of machines, the more the demand. After all it is with the help of these super abrasives that the initial high cost of machines is counter balanced.
An example that can help understand better is of metal bonded wheels. These are built for rugged activities, thereby having a very small cycle time. It thus, cuts down on expenses for users. It should come as no surprise then the market would see steady growth over the coming years. It would also translate to a notable value of market.
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Some of the developments that mark growth in the market, either regionally or globally, are outlined ahead. Firstly, the 2015 move by the Government of India, announcing ‘Housing for All’ has driven the market on an upward trajectory as construction leads to demand for super abrasives. Second, in 2017, Saint Gobain merged Winter and Norton to form a technologically advanced leader Norton Winter, that now caters to a wide audience base. In the same year, the brand launched Ultra-Thin Grinding Wheel – Norton Quantum3 UT. It provides traits like improved durability and comfort. These examples clearly denote how important is product development and mergers and acquisitions for players in the market.
One of the most solid drivers of growth as mentioned before is the growth in construction industry. As per a PwC sponsored report, the volumes will increase approximately 85% by 2030. This would lead to a market worth of USD 15.5 trillion. Also, three countries will have a majority share – India, China and the United States. Together, they will hold 57% of this growth. Other sectors that will propel super abrasive market forward are transportation and automotive.
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