Vulcanized Fiber Market Share

Vulcanized fiber discs, circular grinding wheels featuring a backing made of vulcanized fiber, have emerged as indispensable tools primarily utilized with angle grinders for metal machining. These discs are coated on one side with a resin or abrasive grain, offering a versatile solution for a range of applications, from rough machining to surface finishing. The popularity of vulcanized fiber as a backing in fiber discs is on the rise due to its elasticity and adaptability, providing advantages such as fine and uniform scratch patterns at a lower cost compared to abrasive mop discs and grinding discs.

The applications of vulcanized fiber discs are diverse, with a predominant focus on metal machining, especially stainless steel, steel, cast iron, sheet steel, and high-alloy steel. As steel continues to find extensive use in various automotive components, including body structures, panels, doors, engine blocks, gears, suspension, wheels, fuel tanks, steering, and braking systems, the demand for vulcanized fiber in the manufacturing process is expected to grow. Additionally, the increased demand for metal fabrication across industries such as automotive, architecture, and aerospace further contributes to the market growth.

The automotive industry is undergoing significant transformations, driven by stricter emission regulations, decreasing battery costs, a more widespread charging infrastructure, and increasing consumer acceptance of electrified vehicles. This shift toward electrified vehicles, including hybrids, plug-in hybrids, battery electric vehicles, and fuel cells, is creating a robust momentum for the penetration of such vehicles in the market. Vulcanized fiber, playing a crucial role in various grades of Advanced High-Strength Steel (AHSS) used in automobile manufacturing, is poised to witness increased demand. The push for vehicular emission reduction, guided by stringent regulations from entities like the US Environmental Protection Agency and European Legislation, is propelling the adoption of electric and hybrid vehicles. This, in turn, boosts the production of steel and augments the demand for vulcanized fiber in the automotive sector.

The global automotive market is experiencing robust growth, with a Compound Annual Growth Rate (CAGR) of 5.67% in production, projected to reach 122.83 million units by 2030. Notably, the Asia-Pacific (APAC) region, especially India's passenger car market, is witnessing accelerated growth. The passenger car market in India, valued at US$ 32.70 billion in 2021, is expected to reach US$ 54.84 billion by 2027, demonstrating a CAGR of over 9% between 2022 and 2030, according to the Indian Brand Equity Foundation (IBEF). This growth trajectory further emphasizes the potential for vulcanized fiber in supporting automotive manufacturing.

In the construction industry, vulcanized fiber discs play a crucial role in grinding operations involving the cutting of reinforcement bars (rebar), protruding bolts, and other tasks requiring immediate removal or trimming. The construction sector is witnessing growth driven by substantial infrastructural development worldwide, supported by government initiatives and policies. The surge in construction activities is anticipated to bolster the demand for vulcanized fiber discs, consequently driving the overall growth of the vulcanized fiber market.