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Global sanding pads market is projected to grow at the CAGR of 3.72% by 2023; key players are Robert Bosch Tool Corporation (U.S.), 3M Company (U.S.), Saint-Gobain Abrasives (U.S.), SAIT Abrasivi S.p.A (Italy)

02-04-2019 07:22 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Kenneth Research

Global sanding pads market is projected to grow at the CAGR

Sanding can be done by machine or by hand. A power or electric sander undoubtedly provides the fastest sanding. There are only two type of power sanders: The vibrating sander gives very short, fast in-line strokes, which will result in beautifully smooth surfaces. The vibrating sander is excellent for the final sanding. The finishing sander is the best for all around use.

According to the MRFR team, one of the major drivers for this market is growth in DIY activities. The growth in the DIY market is a key driver of the global sanding pad market. DIY practices encourage household consumers to manufacture and create products from scratch. Sanding pad is a raw material used for smoothening, removal of materials, and scraping off layers from surfaces. Advancement towards precise, flat, laser-cut holes, instead of die-punched holes, dramatically increases surface area contact.

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Sanding pads are largely used in the construction industry for various applications such as smoothening a surface or scraping off layers of a surface, mainly during painting. The construction industry is expanding across the globe and is a major driver for the growth of the global sanding pad market. The construction industry in developed and emerging markets is expected to grow in the forecasted period. However, the sanding pads market has various restraints that hinder the market growth such as stringent government regulations on the use of silica.

A global sanding pad has very broad market in coming recent years. MRFR analysts has predicted that sanding pads market are about to grow at a rapid pace, moreover, the speedy rising construction & mining activities has also been a growth momentum which means more demand for these industrial equipment and in turn for sanding pads market. The global sanding pads market has been segmented based on product, backing material, end-user and region. On the basis of product, Discs accounted for the largest market share of 37.2% in 2015 and is projected to grow at the highest CAGR of 4.48% during the forecast period. Based on backing material, Velcro or Hook and Loop accounted for the largest market share of 49.6%. Based on end-user, Construction accounted for the largest market share of 35% in 2015, and is projected to grow at the highest CAGR of 3.72% during the forecast period.

Key-Players

Robert Bosch Tool Corporation (U.S.), 3M Company (U.S.), Saint-Gobain Abrasives (U.S.), SAIT Abrasivi S.p.A (Italy), Keystone Abrasives (U.S.), Klingspor AG (Germany), Mirka Ltd. (Finland), Abrasiflex Pty Ltd (Australia), Abcon industrial products Ltd (Ireland), Astro Pneumatic Tool Company (U.S.) and others.

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Objective of Global Sanding Pads Market Analysis & Forecast, from 2017 to 2023

• To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global sanding pads market with analysis of its development and demand in the market

• High growth geographies and countries were identified

• Regional and country specific demand and forecast for global Sanding Pads were studied

• Key segments covered in the report are: products, backing material, end-user and region

• Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor

• For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size

• Historical trend is identified to forecast and estimate the future value data

Target Audience

• Manufactures

• Raw materials suppliers

• Aftermarket suppliers

• Research institute & education institute

• Potential investors

• Key executive (CEO and COO) and strategy growth manager

Key Findings

• Global sanding pads market is expected to reach USD 3,874.4 million by 2023.

•By Product, Discs segment dominate the global sanding pads market with share of 37% in 2015, in terms of value. It is expected to grow at 4.48% CAGR during the forecast period

• By backing material, Velcro/ hook and loop segment dominate the global sanding pads market with share of 50% in 2015, in terms of value. It is expected to grow at 4.25% CAGR during the forecast period.

By end user, Construction segment dominate the global sanding pads market with a share of 35% in 2015, in terms of value.

• Geographically, Asia Pacific region has been projected to have the largest market share in global Sanding pads market followed by North America.

Regional and country analysis of global sanding pads market estimation and forecast

Asia-Pacific is projected to dominate the sanding pad market during the forecast period. Rapid industrialization and urbanization, especially in India, China, and Japan are the key contributors of the market growth in the region. The growth in the manufacturing, automotive, and construction industries and the increase in industrial production have boosted the growth of the sanding pad market in Asia-Pacific.

The reports also cover country level analysis:

• North America

o US
o Canada

• Europe

o Germany
o UK
o France
o Spain
o Rest of the Europe

• Asia – Pacific

o China
o India
o Japan
o Rest of Asia-Pacific

• Rest of the World

Read More @ https://www.kennethresearch.com/report-details/global-sanding-pads-market/10042816

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

1412 Broadway,
21st Floor Suite MA111,
New York, NY 10018

Name:David
Email:sales@kennethresearch.com
Phone: +1 313 462

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