ID: MRFR/CnM/3103-HCR | 140 Pages | Published By Anshula Mandaokar on March 2023
Non-Woven Abrasive Market is projected to be worth USD 194.3 million by 2030, registering a CAGR of 4.6% during the forecast period (2022 - 2030).
It has been found that the non-woven abrasive industry covers a non-woven abrasive market value of USD 17.45 billion where it ranges to USD 194.3 million during the market forecast period 2030.
Non- Woven abrasive materials are the 3D abrasive materials that are manufactured when abrasives get bonded with nylon in the presence of synthetic resins like phenolic, epoxy, and many more. They are manufactured from an open nylon filament web, which is made up of aluminum oxide, carbides, diamonds, and zirconia. It has many advantages like it is great resilience, much more comfortable, water-resistant, and does not rust. Its main application is that it is used for portable grinding, sanding, finishing, and also for various other operations. It is also used for several industrial processes like cleaning and foe giving a finishing look to the metal parts. It has a major role in giving a finishing look and for giving a definite shape to the metal. The non-woven abrasive material is classified into bonded, coated, loose abrasive materials, super abrasive materials, nonwoven materials, and many more.
Globally the transportation market has occupied a high CAGR value and has been used in some of the end-users industries during the very forecast period. This helps in increasing trade throughout the world. Some of the electricity markets have experienced exponential growth due to the growth in environmental concerns and the regulatory norms put forward against the conventional fuel-based vehicles present in the whole of the world. From the analysis of the market, you will mark the contribution of the key players for the development of the market.
The outbreak of COVID harmed public health. It has also affected the industry growth whereas its long-term effects have affected the non-woven abrasive industry. The research framework of the analysts showed that their research ensures the inclusion of COVID. COVID led to the change in consumer behavior and the supply chain was hampered. A change in purchasing patterns was marked. The economic condition of the industry was hampered. As per the strict conditions of lockdown and shutdown so imposed by the government, some of the manufacturing units suffered shutdowns.
The government has imposed certain guidelines and strict rules and regulations for the nationwide people.
Some of the major key players operating in the market are
These industries are competitive and cover huge non-woven abrasive market share along with playing various strategies to come to the top-notch position in the market.
DriversThe electrical and electronic industry plays a great role in raising the demand of the non-woven abrasive industry. The market flourished during this period due to growth in portable and some other electronic devices and the electrical applications made up of non-woven abrasive materials in the electrical units. This raises the demand for non-woven materials thus raising the non-woven abrasive market growth.
OpportunitiesSome of the emerging countries having a well-developed economy are contributing towards the rise of infrastructural developments where non-woven abrasives are majorly used. The setup of the numerous automotive industries around the world is helping in steering up the demand for vehicles majorly in the rising countries.
ChallengesThe high price of the raw materials so manufactured by the non-woven abrasive materials is the most challenging factor for non-woven abrasives market size. Lack of labor force has deteriorated the non-woven abrasive market size.
Cumulative growthRise in industrial output had helped in raising the non-woven abrasive market value and also led to the revenue growth in the market. Growth in indisposable income solutions in the emerging countries fuels up and finally boosts up the non-woven abrasive market size. Growth in industrial and manufacturing activities performed under the Central Government has helped in driving up the market demand and market growth.
RestraintsThe use of bottlenecks during the growth of the market so taken into considerations is expected to be the continuous volatility in the petroleum prices which hampers the resin prices and indirectly the non-woven abrasive industry.
Globally from the non-woven abrasive market trends, it has been marked that the market expands its business to five of its regions which include Asia-Pacific, European region, Latin American areas, North American region, some of the Middle East and African region. Asia Pacific region is expected to occupy 40% of the non-woven abrasive market share. Indian and Chinese regions have been said to be the leading regions thus owing to the rise in non-woven abrasive market growth. This raises the demand in the end-users industries which includes electrical, electronic, automotive, and both building and construction industries. The North American region holds to be the most significant second region throughout the globe followed by the United States. The growth in transportation activities and the reconstruction activities in this region propel up the non-woven abrasive market size. After the North American region, the European region is the most advanced region concerning the expansion of market size.Recent DevelopmentJanuary 2022: 3M, the world's largest manufacturer of nonwoven abrasives, announced its entrance in the food industry. NEOGEN Corporation and 3M India-led 3M Company USA announced the signing of a formal agreement under which 3M will spin off its Food Safety business and join it with NEOGEN in a tax-efficient transaction for 3M and its shareholders in the United States. The combination will create an innovative leader in the food safety industry with a broad product portfolio and a strategy focus on long-term growth prospects in the category.
The report highlights the market size and the forecast period. It will make the vendors take the right decision. From the report analysis, you will find 2018-2019 to be the most historical period where 2020 is said to be the base year and 2022-2030 is said to be the forecast period. From the report, you will find about the competitive scenario which gives good analysis about the business strategies so adopted by the key players. The report highlights certain recent developments and the innovative techniques so carried out by the market. It gives in-depth information about the new product launches, and the investments so carried out by the key players. It also gives insights into the technological trends and the application of these new non-woven abrasive market trends for future benefits. It strives for revenue potential and future growth prospects. It gives details about the market scenario and the idea of revenue generation from the market. It also gives details about the market segmentation and the forces that either promote or deteriorate the market growth.
|Market Size||2030: Significant Value|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Target Substrate, End Use and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M (U.S.), Saint-Gobain 1998-2017 (U.S.), Mirka Ltd. (Canada), sia Abrasives Industries AG (U.K.), DEWALT (U.S.), Hermes Schleifmittel GmbH (Germany), ARC ABRASIVES, INC. (U.S.), Zhengzhou Kingshark Abrasives Co., Ltd. (China), NIHON KENSHI Co., LTD (Japan), Kanai Juyo Kogyo Co.,Ltd (Japan), Jiangsu Sanling Abrasive Co., Ltd. (China),and Tailin (Philippines)|
|Key Market Opportunities||the continuous volatility in crude oil prices which may negatively affect resin prices and indirectly affects Non-Woven Abrasives Industry|
|Key Market Drivers||
They are used for several commercial purposes in some of the industries like aerospace, automotive industry, construction industry, cookware industry, some sectors of the medical unit. It has also been used for polishing the surfaces, for buffing, honing, and for sanding purposes.
The CAGR value of the industry is projected at 4.6% during the forecast period of 2022 to 2030. This drives up the demand for the end products in the whole of the world.
Some of the countries like Germany, United Kingdom, France and some of the European region cover the major market share. The European region is the high growth region due to its high production of vehicles and will increase during the market forecast period. Some of the Middle East and African regions are expected to grow at a high CAGR in the upcoming years. The rise in construction activities helps in flourishing the tourism industry. Some of the Latin American regions will emerge politically and economically for joining the mainstream with some of the leading regions of the Non-abrasive market.
Some of the audience includes non-woven abrasive manufacturers and suppliers, traders and distributors present in the non-woven market, research and developmental activities performed by various institutes, investors investing much sum potentially, suppliers of raw materials, and the nationalized laboratory present worldwide.
The expected base year is 2021, where you can find maximum growth in the non-woven business sector which led to the expansion of non-woven abrasive market size.