Cutting Wheels Market Report, By Wheel Type (Straight Cutting Wheels, Depressed Center Cutting Wheels), Disc Material (Cast Iron, Steel, Other Materials (Nickel, Alloys, Titanium, Aluminium), Application (Metal Cutting, Masonry, Ceramic Cutting, Notching), End-Use Industry (Transportation, Automotive, Aerospace, Marine, Construction, Metal Working, Shipbuilding), and Regions 2024-2032

Market Overview:

"The global cutting wheels markеt size reached US$ 2.3 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 3.8 billion in 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032."

Report Attributes	Details
Base Year	2023
Forecast Years	2024-2032
Historical Years	2021-2023
Market Growth Rate (2024-2032)	5.6%

Cutting wheels or cutting discs are tools used in various industries for cutting, grinding, and finishing applications on metals, steel, stainless steel, and other materials. The wheels are typically composed of aluminium oxide, silicon carbide, and zirconia alumina and are attached to machines or varying types and sizes, hand-held or stationary. Aluminium oxide is more commonly used for general-purpose cutting, while silicon carbide is suitable for cutting non-ferrous metals. Zirconia alumina is favored for high performance and durability in heavy-duty cutting tasks, and these cutting wheels find extensive applications in metal fabrication, construction, automotive, and manufacturing industries, among others. Some advantages of cutting wheels include precise cuts, reduced material wastage, and enhanced productivity, and the tools offer versatility, allowing users to perform various cutting and grinding tasks with a single tool.

Cutting Wheels Market Trends and Drivers:

Steady expansion of the construction and manufacturing sectors worldwide and initiation of various smart city initiatives and infrastructure development and expansion are driving demand for cutting wheels and discs across relevant sectors and industries. Also, continuous change across the automotive industry and pursuit of more lightweight materials, including advanced alloys and composites, is driving demand for specialized cutting wheels for working these materials. Diamond cutting wheels are registering inclining demand due to increasing use in industries such as automotive manufacturing and aerospace.

Technological advancements play a crucial role in shaping the market trajectory, and innovations like laser-cutting and abrasive waterjet cutting gaining prominence is driving changes in cutting technologies and techniques. The integration of Internet of Things (IoT) for real-time monitoring of tool performance is another trend enhancing efficiency, and this coupled with growing emphasis on sustainability is having a positive impact on the market, with demand for eco-friendly cutting wheel materials gaining traction.

Cutting Wheels Market Restraining Factors:

Stringent regulations and safety norms in various industries limit the use of cutting wheels due to worker safety and environmental impact. Emissions and environmental concerns as the abrasive materials used in cutting wheels may produce harmful emissions during the cutting and grinding processes, leads to environmental scrutiny and potential restrictions on their usage. This has prompted a shift towards more eco-friendly and sustainable abrasive materials, which may come with higher production costs. Also, some disadvantages associated with the use of cutting wheels, such as heat generation, noise, and vibrations, dust and harmful particles, can limit their acceptance in certain applications. Moreover, economic downturns and uncertainties can impact construction and manufacturing activities, leading to a decrease in demand for cutting wheels as a result of slowdown of projects and initiatives.

Furthermore, threat of substitute cutting and grinding tools and technologies and the emergence of advanced cutting technologies, such as laser and waterjet cutting, presents challenges to traditional abrasive cutting wheels. These alternatives offer precision cutting with minimal material wastage and may be preferred in specific applications, and can have a negative impact on growth of the market.

Cutting Wheels Market Player Opportunities:

Leading players in the global cutting wheels market can create additional revenue streams through innovation in materials and manufacturing processes. Companies can invest in research and development to create cutting wheels with enhanced durability, performance, and eco-friendly attributes. For instance, the development of composite materials or advanced bonding technologies can set products apart in terms of quality and efficiency, attracting a broader customer base. Also, strategic partnerships and collaborations can help cutting wheel manufacturers expand their market presence. Partnering with industry leaders or distributors can also open up new channels for sales and distribution, facilitating access to a wider customer network.

In addition, customization and specialization in cutting wheel solutions for specific industries or applications can be a lucrative avenue. Tailoring products to meet the unique requirements of sectors such as aerospace, automotive, or renewable energy can attract niche markets and command premium pricing. Another opportunity is through adoption of digital technologies, such as IoT-enabled smart cutting wheels and integrating sensors for real-time monitoring of wear and performance, to enhance predictive maintenance capabilities, reduce downtime, and increase overall operational efficiency. Moreover, companies can explore international markets for expansion as the global manufacturing landscape continues to evolve and present untapped potential for cutting wheel demand in emerging economies.

Cutting Wheels Market Segmentation:

By Wheel Type

• Straight Cutting Wheels
• Depressed Center Cutting Wheels

Among the wheel type segments, the depressed center cutting wheels segment is projected to account for largest revenue share, due to its versatility in various application. Depressed center cutting wheels excel in a diverse range of applications, including cutting concrete, building materials, bricks, cast iron, marble, and stone. These tools are equally effective in smoothing welds, notching, beveling, cleaning pipes, and performing cut-off operations on various masonry materials. Also, these wheels are highly versatile for tasks such as de-burring, edge preparation, removing rolling cracks, cutting runners and raisers, as well as grooving and chamfering.

By Disc Material

• Cast Iron
• Steel
• Other Materials
  • Nickel
  • Alloys
  • Titanium
  • Aluminium

Among the disc materials segments, the steel segment is expected to account for largest revenue share. Steel cutting discs are utilized for cutting steel sections on mini grinders, angle grinders, and cut-off machines, steel cutting discs demonstrate versatility across various materials such as metal, plastics, wood, pipework, sheet materials, and concrete. Commonly employed in construction, fabrication, sheet metal, and manufacturing applications, these discs enable swift and precise cuts without causing damage to the material.

By Abrasive Type

• Aluminium Oxide
• Silicon Carbide
• Aluminium Zirconium
• Seeded Gel
• Diamond Cutting Wheels

Among the abrasive type segments, the aluminium oxide segment is expected to lead in terms of revenue share. This abrasive cutter and grinding disc type is favored for effectiveness in cutting ferrous metals, grinding and shaping of different metals, sharpening blades and tools, removal of rust or paint, and surface preparation for welding or painting. Utility of this abrasive extends to precision machining and fabrication processes as well.

By Grit Size

• Coarse (8-24 CAMI Units)
• Medium (30-60)
• Fine (70-180)
• Very Fine (220-600)

The medium grit size segment is expected to account for largest revenue share among the other grit size segments. Falling within a versatile range, medium grit size cutting wheels find applications across diverse industries, and strike a balance between coarse and fine grit sizes, offering optimal performance in metal cutting, masonry, and ceramic cutting applications, among others.

By Application

• Metal Cutting
• Masonry
• Ceramic Cutting
• Notching

The metal cutting segment is expected to dominate other application segments in terms of revenue share over the forecast period. These wheels are crafted from abrasive elements like aluminum oxide or silicon carbide, and find application in handheld grinders, chop saws, and various other power tools. Metal cutting wheels are widely used in metal fabrication, automotive, and aerospace industries, where precise and efficient metal cutting is crucial.

By End-Use Industry

• Transportation
• Automotive
• Aerospace
• Marine
• Construction
• Metal Working
• Shipbuilding

The construction segment is projected to account for largest revenue share among the other end-use industry segments. Cutting wheels play a pivotal role in construction activities, including for cutting metal and masonry, and wood and other materials used in construction activities. The rapidly growing construction sector globally, coupled with increasing infrastructure development projects, are expected to continue to support adoption of cutting wheels in this industry over the forecast period.

By Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Russia
• Poland
• Benelux
• Nordic
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• ASEAN
• Australia New Zealand
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Argentina

Middle East Africa

• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA

The global cutting wheels market is divided into five key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America, Asia Pacific, and Europe have been significant contributors to the Cutting Wheels Market. North America has a robust industrial sector, and countries such as the United States and Canada are leading in the adoption of advanced cutting technologies. In Asia Pacific, countries such as China and India are major players due to booming manufacturing industries. Europe market growth is supported significantly by revenue from markets in Germany and the United Kingdom, which are known for strong emphasis on precision engineering.

Some common factors driving overall market growth in these regions include industrialization, infrastructure development, and advancements in manufacturing technologies. The demand for cutting wheels is closely tied to these factors as they are essential tools in various sectors such as construction, automotive, and metalworking. Additionally, economic policies, trade dynamics, and technological innovations significantly influence regional market trends.

Leading Key Players in Cutting Wheels Market & Competitive Landscape:

The global cutting wheels market exhibits a competitive landscape with leading companies adopting strategic approaches to maintain and enhance their positions. Key players such as Makita Corporation, 3M, and DEWALT are focusing on innovation in materials and manufacturing processes to introduce cutting wheels with improved performance and durability. These companies are also engaging in strategic partnerships and collaborations to expand their market presence and cater to a broader consumer base.

In addition, efforts are directed towards customization, where companies like Lenox Tools tailor cutting wheel solutions for specific industries, meeting unique requirements and gaining a competitive edge. Embracing digital technologies and incorporating smart features in cutting wheels for real-time monitoring and predictive maintenance is another strategy to enhance market share. Overall, the competitive landscape is marked by a combination of technological innovation, strategic collaborations, and customer-centric approaches to sustain and grow in the global cutting wheels market.

These companies include:

• Makita Corporation
• Walter Surface Technologies Inc.
• Dremel
• 3M
• Grindwell Norton Ltd.
• Lenox Tools
• Ryobi Limited
• DEWALT
• Shark Industries LTD.
• Forney Industries Inc.

Recent Developments:

• February 2023: WALTER Surface Technologies introduced a new cut-off wheel designed to last longer and to increase productivity. The ZIP XX outlasts other industry-leading ceramic wheels by at least 30% and delivers, the most cuts per wheel, thus reducing changeovers and downtime. The ZIP XX is a slightly thick 1/16” ceramic wheel with premium reinforcements that make it safer and more durable, all while not compromising speed.  The unique formulation of 100% self-sharpening ceramic grain, enables cuts up to 10% faster than aluminium oxide wheels. It was engineered with the company’s latest proprietary SMART RESIN technology which allows the wheel to expose the fresh grains at the optimal moment to maximize longevity & sharpness.
• July 2022: The Dremel brand expanded its line of rotary tool accessories with the introduction of its Max Life premium accessories line. Designed to deliver exceptional long-term performance and durability, the nine new Max Life rotary accessories offer more robust options for already versatile Dremel tool systems. For various tasks such as multi-purpose cutting, metal cutting, sanding, carving and engraving Max Life makes high-performance products to help users with many applications at home.

Cutting Wheels Market Research Scope

Report Metric	Report Details
Market size available for the years	2021-2023
Base Year	2023
Forecast Period	2024-2032
Compound Annual Growth Rate (CAGR)	5.6%
Segment covered	Wheel Type, Disc Material, Abrasive Type, Grit Size, Application, End-Use Industry, and Region
Regions Covered	North America: The U.S. Canada Latin America: Brazil, Mexico, Argentina, Rest of Latin America Asia Pacific: China, India, Japan, Australia New Zealand, ASEAN, Rest of Asia Pacific Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, Rest of Europe The Middle East & Africa: Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA
Fastest Growing Country in Europe	Germany
Largest Market in Asia Pacific	China
Key Players	Makita Corporation, Walter Surface Technologies Inc., Dremel, 3M, Grindwell Norton Ltd., Lenox Tools, Ryobi Limited, DEWALT, Shark Industries LTD., Forney Industries Inc.