Sanding Pads Market Size To Expand at a Notable CAGR Of 4.19% During 2018 - 2023

Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Sanding Pads Market.

Overview:

The sanding pads market is growing in sync with the construction sector. A coated abrasive, sanding pad has a sander power tool that assists in smoothening of the surface area. It has several industrial and commercial applications, and variety to serve multiple purposes. Much of the global traction sanding pads are gaining is from the construction sector, where it has prolific use in plaining surface area or removing scrapes. Painting industry is also providing necessary thrust. In addition, market innovation is providing greater scope for sanding pads. Latest models from 3M to remove dust from machines are a good example of that. The global sanding pads market is all set to score a moderate 4.19% CAGR during the forecast period (2017-2023) and surpass a market valuation of USD 2,764 million by 2023.

Market Research Future’s (MRFR’s) report encompasses segmental analysis and drivers that can impact the sanding pads market considerably. Among the drivers, the construction industry is proving to be the main booster. Other industries are also creating scope for market growth. The versatile product range is also helping the industry gain much foothold by diversifying its utility across verticals.

However, the sanding pads market can face some heat from the stringent regulations regarding the use of silica. This can have a plateaued effect on the market,but product innovation can guarantee safe passage for the sanding pads market growth in the coming years.Browse Complete Report @ Sanding Pads Market Research Report

Segmentation:

The global sanding pads market can be segmented by product, backing material, and end-users.

Product-wise, the sanding pads market include disc, wheels, rolls, and others.

Based on the backing material, the sanding pads market can be segmented into velcro/hook and loop.

Based on the end-users, the sanding pads market can be segmented into automotive, construction, metal fabrication, and others. Wet sanding pad’s ability to provide scratch-free smoothening has a lot of impact in the automobile sector. In addition, in 3D prints, it is often used for a mirror-smooth look.

Regional Analysis:

Geographically, the sanding pads market can be segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

The APAC region is, at present, dominating the market with substantial revenue. The regional market is getting the benefits of robust construction industry in the region which is getting ample back up from the local governments. Emerging economies of the region require the construction sector to have a solid foothold which is proving beneficial for the sanding pads market. Automobile sector, on the other hand, is having a great run as the market behemoths are seeking out spaces in the region to extend their production facilities and satisfy their growth desire. The region accounts for almost 40% of the global market as per the reports published in 2015. Among the major contributors, India, China, and Japan can be named. A 3.82% CAGR is written on the cards for the sector during the forecast period.

North America is also gaining much limelight. With the revamping automobile sector and robust construction sector, the region can expect significant mileage during the forecast period. The forecast suggests a leap from USD 546.6 million in 2015 to USD 728 million by 2023.

Competitive Landscape:

Prominent players of the global sanding pads market profiled in the report are 3M Company (U.S.), Robert Bosch Tool Corporation (U.S.), SAIT Abrasivi S.p.A (Italy), Keystone Abrasives (U.S.), Saint-Gobain Abrasives (U.S.), Mirka Ltd. (Finland), Abrasiflex Pty Ltd (Australia), Klingspor AG (Germany), Abcon industrial products Ltd (Ireland), Astro Pneumatic Tool Company (U.S.) and others.

In June 2018, Festool USA and Festool Canada introduced their new abrasive product Multi-Jetstream 2 with a variety of 150mm/6” pads, from ultra-soft to hard. The product has an active dust conveying system. Its advanced exhaust air system increases suction power and ensures a virtually dust-free abrasion system.

In September 2018, TruCut introduced a new sanding pad which can add shine to a bowling ball. Manufactured from the naturally sourced silicon carbide, the material can perfectly work with 500, 1000, 1500, and 2000 grit pads.