Non-Woven Abrasives Market to Witness Steady 6.5% CAGR Growth, Propelled by Demand from Growing Industries

News provided by

Oct 09, 2023, 06:00 ET

DUBLIN, Oct. 9, 2023 /PRNewswire/ -- The "Non-Woven Abrasives Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.

The non-woven abrasives market is anticipated to experience steady growth at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period.

Non-woven abrasives refer to products made from a web of nylon fibers or synthetic materials impregnated with abrasive grains and bonded with synthetic resins. These versatile products find applications in cleaning, deburring, blending, finishing, grinding, sanding, and surface preparation across various industries, including automotive and construction.

Market Segmentation

The non-woven abrasives market is categorized based on product types, substrates, application areas, and geographic regions.

Product Types:

Hand Pads
Belts
Discs
Rolls
Wheels
Others

Among these, non-woven discs are particularly prominent and are commonly used as backing material for abrasive products, offering excellent surface conditioning and polishing capabilities for personal and commercial use.

Applications:

The growth of the non-woven abrasives market is driven by increased demand from several industries, including electronics, electrical, construction, textiles, manufacturing, and industrial machinery. Factors such as urbanization, rising living standards, and the need for infrastructural development contribute to the growing demand for non-woven abrasives.

Market Drivers

Demand from Growing Industries: The electronics and electrical industries, in particular, are driving the demand for non-woven materials, as some electronic devices and electrical applications incorporate non-woven abrasive materials. Additionally, increased urbanization and improved living standards boost demand for infrastructural development, spurring the use of non-woven abrasives in construction, manufacturing, and other industries.
Demand from the Automotive Industry: Non-woven abrasives are extensively used in various automotive applications, including engine manufacturing, interior and exterior bodywork, and more. As the demand for automobiles rises, so does the need for non-woven abrasives, benefiting both automobile manufacturers and automotive parts suppliers.

Market Restraint

Fluctuations in the prices of abrasive materials and other components pose a significant challenge to the non-woven abrasives market. Resin prices, which are linked to crude oil prices, can be volatile due to macroeconomic factors, leading to price instability for non-woven abrasives. This instability can impact the profitability of suppliers and restrain market expansion.

Regional Outlook: Asia-Pacific

The Asia-Pacific region is poised to hold a significant share of the non-woven abrasives market. Countries like China, India, and Japan, known for their robust automotive and industrial sectors, are expected to drive demand. China, in particular, is a major manufacturing hub and a leader in electronics production. Additionally, India's focus on self-reliance has fueled industrial growth and increased construction activities.

Market Developments

In February 2022, CUMI Abrasives, a subsidiary of Carborundum Universal Ltd, acquired Rhodius Abrasives in Germany for €55 million to enhance its technological and geographical reach.
In May 2023, Sak Abrasives acquired Jowitt and Rodgers Co., based in Philadelphia, U.S., to strengthen its presence in the American market.

Companies Mentioned

3M
ARC ABRASIVES, INC.
Kanai Juyo Kogyo Co., Ltd.
Mirka Ltd.
Compagnie de Saint-Gobain
sia Abrasives Industries AG
Tailin Abrasives Corporation
Valgro Engineers Pvt. Ltd.
Even Cut Abrasives Company

For more information about this report visit https://www.researchandmarkets.com/r/sjl8jy

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets