Home > Pressrelease > Non-woven Abrasives Market size to surpass $3 Bn by 2032
Non-woven Abrasives Market size to surpass $3 Bn by 2032
- Published Date: March 29, 2023
Non-woven Abrasives Market size is set to exceed USD 3 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
The ongoing upsurge in automobile demand around the world is poised to have a positive impact on the non-woven abrasives industry outlook. Countries such as China, Japan, and India, are witnessing growing demand for passenger cars and automotive parts, which has fueled the need for non-woven abrasives. In general production, these non-woven abrasives are frequently used for metal blending, cutting, deburring, heavy grinding, medium to light grinding, and other purposes.
Supportive investment in housing infrastructure to augment construction segment revenues
The non-woven abrasives market from the construction end-use segment is primed to be worth more than USD 1 billion by 2032. Several developing nations, such as Singapore in the Asian subcontinent, are increasing their investments in new housing and infrastructure projects, fueling architectural constructions. For instance, ADDP, an architecture studio, plans to construct the world’s tallest prefabricated skyscrapers in Singapore. Recently, in January 2023, South Korea’s Samsung C&T Group and Saudi Arabia’s Public Investment Fund (PIF) signed an MoU to build modular homes in Saudi Arabia.
Browse key industry insights spread across 265 pages with 312 market data tables & 41 figures & charts from the report, “Non-woven Abrasives Market - By Product (Hand Pads and Rolls, Belts, Discs, Rolls, Wheels), By End-user (Household, Electronics & Semiconductor, Transportation, Construction), By Region & Global Forecast to 2032”, in detail along with the table of contents:
Superior polishing qualities to push non-woven abrasive wheels demand
The non-woven abrasive wheels market is speculated to progress at a 5.5% CAGR through 2032. Their wide applicability in debarring, base polishing, chamfering, metal finishing, auto polishing for the glass & sunglasses flame, satin finishing, and polishing of steel coils are complementing segment growth. Non-woven abrasive wheels are easier to use than grinding stone wheels and result in smoother polished surfaces. Moreover, several online learning programs by abrasive method proceeding experts are improving product awareness, benefitting the overall segment standing.
Mounting construction projects to support North America industry expansion
The North America non-woven abrasives market size is projected to reach USD 930 million by 2032, attributed to the booming hybrid and electric motor vehicles industry, which is expected to grow by 22% in revenue in 2024 compared to 2023, constituting 23% growth in unmanned aerial vehicles, 20.6% in sightseeing transportation, and 24.4% in tour operators. In addition, the rapidly expanding construction sector has bolstered the use of non-woven abrasives, promoting product adoption in the regional transportation and construction sectors.
Promising acquisitions for portfolio expansion to remain a key growth prospect
The key players operating the non-woven abrasives market are Saint-Gobain, DEWALT, 3M, Carborundum Universal Limited (CUMI), Sia Abrasives, Osborn, Discon Products Limited, AE Abrasives Edge Pvt. Ltd., and WEILER Abrasives d.o.o., among others. The primary strategic tactics followed by these firms are product range diversification and mergers & partnerships. With this deal, the companies aimed to enhance surface technology operations and expand their abrasives portfolio.