World Sanding Pads Market to Reach 3,874.4 Mln by 2023, Forecasts MRFR in Its In-Demand Study Available at MarketPublishers.com18 Dec 2017 • by Natalie Aster
LONDON – The world sanding pads market is poised to gain momentum and be worth USD 3,874.4 million by end-2023, fuelled chiefly by the growth in the DIY market. Meantime, stiff government regulations on the usage of silica could hinder the sector’s growth.
By product, the discs segment takes the lead in the world sanding pads market grabbing a share of 37% as of 2015, in value terms; and the segment is set to see a 4.48% CAGR in the offing.
Based on backing material, velcro/hook and loop segment captured the largest share (50%) of the total market value in 2015. It is likely to expand at a CAGR of 4.25% till 2023.
APAC is forecast to be the largest sanding pad market over the projected period, driven mainly by industrialisation and urbanisation growth, especially in the high-growth India, China, and Japan. The growth in the manufacturing, automobile, and construction industries and the rise of industrial production have given a boost to the region’s sanding pad market. APAC is likely to grab the largest market share in the total sanding pads market, with North America following after.
3M Company, Robert Bosch Tool Corporation, Klingspor AG, SAIT Abrasivi S.p.A,Saint-Gobain Abrasives, Abcon industrial products, Keystone Abrasives, Mirka, and Abrasiflex, amid others, are the prominent players in the market.
In-demand research study “Global Sanding Pads Market Research Report- Forecast 2023” drawn up by Market Research Future (MRFR) offers a deep, unbiased analysis and forecast of the marketplace worldwide. The report explores the market structure, and carefully segments the market by product, backing material, end-user sector, and region-wise. It sheds light on high growth regions and countries, gives true insights into market demand and provides forecast of the sector across key regions and countries. It examines key market drivers, restraints and opportunities; offers a market factor assessment covering the value chain and Porter’s five forces model. Furthermore, the research report explores the competitive environment and provides detailed profiles of the dominant market players.
Many other research reports by this publisher are available in the MRFR online catalogue.