Cutting Wheels Market
Cutting Wheels Market Analysis By Wheel (Straight Cutting Wheels, Depressed Center Cutting Wheels), By Disc Material (Cast Iron, Steel), By Abrasive Type (Aluminum Oxide, Silicon Carbide), By Grit Size (Coarse, Medium, Fine, Very Fine), By Application, By End-use - Global Insights 2032
Cutting Wheels Market Outlook (2022-2032)
In 2022, the global cutting wheels market stands at a valuation of US$ 2.24 billion and is predicted to reach US$ 3.48 billion by the end of 2032. Worldwide demand for cutting wheels is anticipated to increase at a CAGR of 4.5% from 2022 to 2032.
Increasing industrialization across regions is expected to bolster the consumption of cutting discs and other industrial equipment over the years to come.
Cutting Wheels Market Size (2022E)
US$ 2.24 Billion
Forecasted Market Value (2032F)
US$ 3.48 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
Key Companies Profiled
Cutting Wheel Sales Analysis (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)
Cutting wheels are thin discs made of metals or alloys used for cutting purposes. They are mostly used with grinding machines to perform several operations. Cut-off wheels perform cutting operations in optimal time with high precision, they are cost-effective hence reducing overall production cost, and have a lower downtime for changeover.
The aforementioned factors are expected to drive the popularity of cutting wheels across several industry verticals. The high rate of replacement is also a major factor will drive the market potential of cutting discs.
Increasing construction activity, rising metal cutting activities in several industry verticals such as aerospace, marine, automotive, and increasing technological advancements in grinding wheel manufacturing are other factors that favour cutting wheels market growth.
However, increasing popularity of other cutting procedures such as laser cutting, water jet, and plasma cutting is expected to have a restraining effect on overall cutting wheels market growth.
Nevertheless, from 2022 to 2032, the cutting wheels market is predicted to expand at a CAGR of 4.5%.
An Adaptive Approach to Modern-day Research Needs
What Factors Play Pivotal Roles Shaping Demand for Cutting Wheels?
“Shipments of Cutting Wheels to Increase in Parallel with Rising Industrialization”
Increasing industrialization is expected to boost the establishment of manufacturing and industrial facilities which in turn will drive consumption of industrial equipment over the years to come. Governments across the world are launching supportive initiatives to boost economic development through industrialization. The aforementioned factors are expected to result in increased metal working activity and hence are anticipated to favor cutting wheels market growth potential.
Diamond cutting wheels, steel cutting discs, porcelain cutting discs, aluminum cutting discs, wood cutting discs, and fabric cutting wheels are some major products that are anticipated to witness high demand across the forecast period.
“Increasing Popularity of Alternative Cutting Procedures Hinders Growth”
Over the past few years, the popularity of plasma cutting, laser cutting, and water jet cutting has been increasing due to their ease of use. Increasing research and development activities are expected to result in new cutting technologies which could result in a drop in demand for cutting wheels.
These factors are expected to have a hindering effect on the cutting wheels market growth through 2032.
How Can New Entrants Earn a Place for Themselves in the Global Marketplace?
“New Companies Can Focus on Developing Novel Manufacturing Processes for Industrial Equipment”
The cutting wheels market is competitive and fragmented in nature and this provides equal opportunities for established as well as new market players in the industry landscape. New entrants can leverage the use of new manufacturing technologies to create better industrial equipment for specific applications in several industry verticals.
- Founded in February 2022, Foundation Alloy, a start-up specializing in high-performance metal manufacturing, raised US$ 10.5 million in seed funding in May 2022. The seed funding round was co-led by The Engine and Material Impact. The start-up claims that its technologies can manufacture parts by using less energy and create less waste, thereby making the process more sustainable.
New entrants can focus on creating manufacturing processes that are more sustainable in nature as stringent mandates to conserve the environment are being implemented across the world.
Which Regional Markets Should Cutting Wheel Suppliers Invest In?
“Asia Pacific to Provide Highly-Rewarding Business Opportunities”
The cutting wheels market in the APAC region is anticipated to be a highly lucrative one owing to the presence of robust industrial activity in this region. Low production and labour costs in this region have fuelled the establishment of major manufacturing facilities and uplifted the industrial sector which is expected to drive the demand for industrial equipment through 2032.
China cutting wheels market in 2022 stands at a valuation of US$ 188 million and holds a significant market share of 8% in the global cutting wheels industry landscape.
Supportive government initiatives to promote industrialization in economies such as India, China, and Japan are expected to prominently drive sales of industrial abrasives in these countries.
The market for cutting wheels in Europe accounts for a 26% market share in 2022 and holds a revenue total of US$ 575 million. Increasing investments in the manufacturing sector and rising industrialization in this region are expected to influentially drive cutting wheels market growth in this region.
Countries such as Germany, France, and the U.K. are expected to be at the forefront of the Europe cutting wheels industry throughout the forecast period.
More valuable regional insights can be obtained in this latest cutting wheels market research report released by Fact.MR, a market research and competitive intelligence provider.
Cutting wheel manufacturers are focusing on launching more efficient cutting discs to enhance productivity. Cutting wheel vendors are also investing in the development of more durable wheels that can last longer and make faster cuts.
- In June 2022, Saint-Gobain Abrasives, a leading industrial equipment provider, announced the launch of its newly upgraded Norton Gemini grinding wheels. These cutting discs don a new premium alumina grain and are made from advanced bond technology.
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
- 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
- Ceramic Cutting
Cutting Wheels Market by End-use Industry :
- Metal Working
Cutting Wheels Market by Region :
- North America
- Latin America
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