The global abrasive paper market is experiencing growth driven by factors such as increase in use across diverse industrial sectors such as automotive, metalworking, woodworking, and electronics. Industries require precision in surface preparation and finishing. Abrasive paper, available in various grit sizes and types, allows users to achieve the desired level of precision and consistency in the quality of the finished surfaces
WILMINGTON, Del., Jan. 29, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Abrasive Paper Market by Type (Dry Abrasive Paper, Sponge Abrasive Paper, Wet Abrasive Paper, Dust Free, Others), Abrasive Grain (Aluminum Oxide, Silicon Carbide, Zirconia Alumina, Diamond, Others), and Application (Wood Processing, Automotive Polishing, Metal Polishing, Painting and Finishing, Electronic Product, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global abrasive paper market was valued at $4,404.21 million in 2022, and is projected to reach $6,583.65 million by 2032, registering a CAGR of 4.32% from 2023 to 2032.
Prime determinants of growth
The global abrasive paper market is experiencing growth due to several factors such as surge in metal fabrication and metalworking industries, and expansion in automotive and aerospace sectors However, raw material price volatility in abrasive paper hinders the market growth to some extent. Moreover, the abrasive paper market is witnessing promising opportunities propelled by ongoing advancements in abrasive technology. These innovations represent a pivotal force that drive the market growth and offers enhanced performance, efficiency, and versatility in abrasive paper applications across various industries. In addition, the continuous evolution of abrasive materials and manufacturing processes contributes to the development of high-performance abrasive papers which meets the evolving needs of end-users.
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Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$4,404.21 million |
|
Market Size in 2032 |
$6,583.65 million |
|
CAGR |
4.32 % |
|
No. of Pages in Report |
270 |
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Segments Covered |
Type, Abrasive Grain, Application, and Region. |
|
Drivers |
Surge in metal fabrication and metalworking industries Expansion in automotive and aerospace sectors |
|
Opportunity |
Integration of abrasives in 3D printing |
|
Restraint |
Raw material price volatility |
Dry abrasive paper segment to maintain its dominance throughout the forecast period
By type, the dry abrasive segment held the highest market share in 2022, accounting for one-third of the global abrasive paper market revenue and is estimated to maintain its leadership status throughout the forecast period. The continuous evolution and innovation in manufacturing processes increase the demand for dry abrasive paper. As industries such as automotive, woodworking, and metalworking, adopt advanced technologies and machinery, the demand for dry abrasive paper with improved abrasion properties, durability, and precision increases. In addition, the compatibility of dry abrasive paper with automated systems and high-speed machinery is crucial for enhancing overall efficiency in industrial applications.
Aluminum oxide segment is expected to lead the trail throughout the forecast period
Based on the abrasive grain, aluminum oxide segment held the highest market share in 2022, accounting for less than two-fifths of the global abrasive paper market revenue and is estimated to dominate during the forecast period. Aluminum oxide has a crucial role in its prominence in abrasive paper manufacturing. It is available in various grit sizes, enabling the production of abrasive papers suitable for tasks ranging from coarse material removal to fine finishing. This versatility makes aluminum oxide abrasive paper adaptable to diverse applications within industries such as metalworking, woodworking, and automotive, meeting the specific requirements of each task.
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Wood processing segment to maintain its dominance throughout the forecast period
Based on the application, wood processing segment held the highest market share in 2022, accounting for more than one-fourth of the global abrasive paper market revenue and is estimated to dominate during the forecast period. The versatility of abrasive paper makes it an indispensable tool in wood processing applications. Whether its sanding, polishing, or removing imperfections, abrasive papers are tailored to address diverse requirements across different wood types and manufacturing stages. This adaptability enhances the overall flexibility of wood processing operations that allow manufacturers to achieve a wide range of finishes and textures.
Asia-Pacific is expected to grow faster throughout the forecast period
Based on region, Asia-Pacific was the fastest growing region in terms of revenue in 2022 representing 4.63% of the CAGR. The increase in adoption of advanced technologies and automation in manufacturing processes across Asia-Pacific has led to a higher demand for precision and efficiency in surface treatment. This drives the need for abrasive papers with specific characteristics such as consistent grit size, durability, and suitability for automated machinery. In addition, the expansion in automotive industry plays a significant role in the demand for abrasive paper. As the automotive sector continues to grow and upgrade its manufacturing processes, there is a heightened requirement for abrasive papers used in tasks such as paint preparation, bodywork finishing, and polishing.
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Leading Market Players:
3M
Bosch Limited
Deerfos
Hermes Schleifmittel GmbH
Klingspor AG
Mirka Ltd
MISUMI Corporation
Saint-Gobain
sia Abrasives Industries AG
VSM AG
The report provides a detailed analysis of these key players in the global abrasive paper market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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