Sanding Pads Market Is Projected To Reach USD 2,764 Million By 2023

Market Highlights:
Sanding pads are coated abrasives that are used with sander power tool to smoothen surfaces. They are majorly used in industrial and commercial sanding applications. Increasing in global industrial production is the factor driving the demand of the market. However, stringent government regulations on the use of silica may hamper the growth of the market.

Global sanding pads market is projected to reach USD 2,764 million by 2023, at a CAGR of 4.19% from 2017 to 2023.

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Key Players of Sanding Pads Market:
• 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.)

Brief TOC:
1 Executive Summary
2 Introductions
2.1 Definition
2.2 Scope of the Study
2.3 Assumptions
2.4 Market Structure
3 Research Methodologies
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continue…

Market Research Analysis:
On the basis of regions, the global sanding pads market is segmented as North America, Europe, Asia-Pacific and RoW. Asia-Pacific accounted for the largest market share of 40% in 2015, followed by North America. 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 Pads Market in Asia-Pacific. Asia-Pacific is expected to grow at a CAGR of 3.82% during the forecast period.
North America was the second-largest for the market, and it was valued at USD 563.5 million in 2016. The U.S. government has taken initiatives for the growth of the construction sector by building dam, airports, and roads, which have been the major factors for the growth of the market. The rest of the world accounted for a market share of 11% in 2015 and is expected to grow at a CAGR of 3.91% during the forecast period.

Scope of the Report:
This study provides an overview of the global sanding pads market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global sanding pads market as product type, backing material and end-user.

By Product Type
• Discs
• Wheels
• Rolls
• Others

By Backing Material
• Velcro / Hook and Loop
• Pressure Sensitive Adhesive
• Others

By End-User
• Construction
• Automotive
• Metal fabrication
• Others

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This release was published on openPR.