According to Fact.MR, a market research and competitive intelligence provider, the global Cutting Wheels market is expected to be worth US$ 2.24 billion in 2022, with a CAGR of 4.5% from 2022 to 2032. With rising demand for cutting discs and other industrial equipment.
Cutting wheels are thin discs made of alloys or metals that are used for cutting. They are typically used in conjunction with grinding machines to perform a variety of operations. The main advantage is that cutting operations are performed with extreme precision while remaining cost-effective. As a result, the Cutting Wheels market is expected to reach $3.48 billion by 2032. Growing industrialization is expected to catalyse manufacturing and industrial facilities, driving utility of industrial equipment in the coming years.
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Key Segments Covered in Cutting Wheels Industry Research
- Cutting Wheels Market by Wheel Type :
- Straight Cutting Wheels
- Depressed Center Cutting Wheels
- Cutting Wheels Market by Disc Material :
- Cast Iron
- Other Materials (Nickel, Alloys, Titanium, Aluminium)
- Cutting Wheels Market by Abrasive Type :
- Aluminum Oxide
- Silicon Carbide
- Aluminum Zirconium
- Seeded Gel
- Diamond Cutting Wheels
- Cutting Wheels Market by Grit Size :
- Coarse (8-24 CAMI Units)
- Medium (30-60)
- Fine (70-180)
- Very Fine (220-600)
- Cutting Wheels Market by Application :
- Metal Cutting
- Ceramic Cutting
- Cutting Wheels Market by End-use Industry :
- Metal Working
- Cutting Wheels Market by Region :
- North America
- Latin America
Key Takeaways from Market Study
- North America holds close to 22% of the entire market.
- Europe leads with 26% of the overall market share.
The competitive market is into ushering new entrants, who could leverage new manufacturing technologies for creating better industrial equipment to cater to specific applications. .
- Foundation Alloy, a start-up founded in February 2022, specializes in high-performance metal manufacturing. It did raise US$ 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.