Precision Grinding Wheels Market Size, Share, and Industry Analysis, By Product Type (Super Abrasive Grinding Wheels and Conventional Abrasive Grinding Wheels), By Material Type (Diamond, Cubic Boron Nitride (CBN), Aluminium Oxide, Silicon Carbide, and Others), By Grain Size (Coarse, Medium, Fine, and Extra Fine), By End User (Automotive, Aerospace, Medical, Precision Machinery, Tools & Dies, and Others), and Regional Forecast, 2024-2032

Precision grinding wheels are specialized grinding wheels manufactured and designed to meet the stringent requirements of precision grinding operations. These wheels are used in applications where high accuracy, tight tolerances, and superior surface finishes are essential, such as in the aerospace, medical, precision machinery, and tooling industries. The wheels exhibit characteristics such as high-quality abrasive grains, tight dimensional tolerances, precise cutting ability, and durability.

Rising investment for construction, infrastructure development, and rapid industrial growth are some of the factors that drive the expansion of the market. According to the Oxford Economic Report, the global construction sector investment stood at USD 9.7 trillion in 2022 and is projected to reach USD 13.9 trillion by 2037. Moreover, growth in the automotive industry across Germany, Italy, India, and China, among others, which augments the demand for precision grinding wheels, fuels the industry expansion. For instance, according to the China Association of Automobile Manufacturers (CAAM), the automotive sector in China rose by 12% in 2023 compared to the year 2022. All such factor drives the growth of global precision grinding wheels market.

The COVID-19 pandemic negatively impacted the market owing to disruptions in the raw material supply chain and fluctuations in product demand from the automotive, aerospace, precision machinery, and tools sectors, which restrict the growth of the market. However, the pandemic accelerated the adoption of automation, digitalization, and remote monitoring technologies in manufacturing facilities, including those producing precision grinding wheels, to ensure business continuity and reduce reliance on manual labor.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis by Product Type:

Based on product type, the market is segmented into super abrasive grinding wheels and conventional abrasive grinding wheels.

The super abrasive grinding wheels segment is projected to dominate the market. Rising demand for high-precision components in medical, aerospace, and precision machinery fuels the market growth. Additionally, the rising adoption of advanced manufacturing techniques and technological advancements in grinding wheels will drive the market growth.

The conventional abrasive grinding wheels segment is projected to grow moderately owing to the escalating demand for metalworking, construction, and automotive sectors. These wheels are less expensive than super abrasive grinding wheels. Additionally, key players are bringing technologically advanced new products, which fuels the market growth.

Regional Analysis

The global precision grinding wheels market is distributed into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific market is projected to grow significantly during the forecast period owing to growth in the automotive and aerospace sectors. The resultant rise in the demand for precision grinding wheels will drive the market growth.

The North America market is projected to grow steadily during the forecast period, owing to stringent quality standards and regulatory environment in industries such as medical, automotive, and aerospace. In addition, growth in sectors such as additive manufacturing and advanced materials processing, which require precision grinding operations across the U.S. and Canada, fuels the market growth.

The European market is expected to grow moderately during the forecast period, owing to strong growth in the automotive sector across Germany, France, Italy, and Spain. The rising demand for grinding wheels will, in turn, drive the growth of the precision grinding wheels market.

The Middle East & Africa and South America markets are projected to grow decently during the forecast period. This is due to strong product demand from oil & gas, mining sector, and automotive sectors in precision operations.

Distribution of the Global Precision Grinding Wheels Market, By Region of Origin:

• North America – 22%


• Europe  – 28%


• Asia Pacific – 37%


• Middle East & Africa – 8%


• South America – 5%

Key Players Covered

The key players in this market include 3M Company, Saint-Gobain Abrasives Inc, Tyrolit Group, Klingspor AG, Krebs & Riedel, Asahi Diamond Industrial Co. Ltd, Danobat Group, Deerfos Co. Ltd, Falcon Abrasive Manufacturing Inc, and Keihin Kogyosho Co. Ltd.

Key Industry Developments

• February 2024: Krebs & Riedel signed a collaboration with GYSL Abrasives, which deals in precision grinding wheels. The main aim of the collaboration was to introduce a new series of Proteus Abrasive to the market and improve the product portfolio of grinding wheels.


• December 2023:  3M launched a new Cubitron series of abrasive wheels for welding, cutting, and grinding activities. These wheels offer advantages such as durability,  faster cutting rate, and ease of use. They can be used in the automotive, metalworking, and aerospace sectors.