Abrasive Paper Market Size, Share, Growth, and Industry Analysis, By Type (Dry, Wet, Sponge, Dust Free and Others), By Application (Wood Processing, Metal Polishing, Auto Beauty, Furniture Manufacturing, Electronic Product, Home Decoration, Shipbuilding Industry, Musical Instrument, Jewelry and Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Abrasive Paper Market REPORT OVERVIEW

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The global abrasive paper market size was USD 2549.9 million in 2022 and is projected to touch USD 3692.7 million by 2031, exhibiting a CAGR of 4.2% during the forecast period. 

The global COVID-19 pandemic has been unprecedented and staggering, with the abrasive paper market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The abrasive paper market refers to the industry that manufactures and distributes abrasive paper, popularly known as sandpaper. It is a form of coated abrasive material used for sanding, polishing, and finishing operations in sectors such as woodworking, metalworking, automotive, and construction. The global abrasive paper market has experienced tremendous growth in recent years and is projected to continue on its upward trend in the coming years. Several factors are driving this expansion, including increased demand for Abrasive products and services across multiple industries. The rise in technical developments and digitalization has propelled the adoption of abrasive solutions, resulting in market expansion.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The worldwide market cap suffered severely during the pandemic, which was a direct result of the lockdown impositions, which resulted in the temporary shutdown of production units. Demand for the product was also rather low, due to a lack of fresh orders from major polishing units or other non-essential areas. Another key element contributing to the loss was the scarcity of craftsmen who specialize in using the product as a result of domestic and regional migration.

LATEST TRENDS

"The Waterproofing and Roofing Applications to Grow Market Potentially"

Abrasive technology advancements have resulted in the launch of novel goods such as long-lasting and high-performance abrasive papers. These developments propel market expansion by improving efficiency, durability, and cost-effectiveness. Furthermore, the increased emphasis on sustainability and energy efficiency has fueled demand for environmentally acceptable alternatives to Abrasive Paper. This has opened up significant prospects for industry participants to produce novel and long-lasting Abrasive Paper solutions.

Abrasive Paper Market SEGMENTATION

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• By Type

Based on type the market is classified as dry, wet, sponge, dust-free and others.

The part dry is the leading of all other types.

• By Application

Based on application the market is classified as wood processing, metal polishing, auto beauty, furniture manufacturing, electronic product, home decoration, shipbuilding industry, musical instrument, jewelry and paint and others.

The part wood processing is the leading type of the application segment.

DRIVING FACTORS

"The Applications in the Building and Construction Sector is Viable to Boost the Market Growth "

Abrasives are used in the building and construction sector for demanding tasks like grinding, drilling, cutting, and sanding. The demand for abrasive paper is significantly influenced by the construction industry, particularly the residential and commercial sectors. It is used to sand wood, prepare surfaces for painting or varnishing, and scrape off existing coats.They are employed for cutting tile, stone, granite, and reinforced concrete. Consequently, they are included into machine tools such as masonry, floor, tile, handheld saws, core drilling machinery, floor grinders, and power trowels.

"Growing Demand for Woodworking Industry to Multiply the Production and Market Growth"

For tasks including sanding and smoothing wood surfaces, shaping and finishing furniture, and preparing surfaces for staining or painting, the woodworking sector is a significant consumer of abrasive paper. The adoption of wood-based interior design items is predicted to increase, which would be beneficial for the global market for abrasive paper. In contrast to the other segment of individuals who prefer using mass-produced products, there is a sizable group of people who solely prefer vintage or specially created items to decorate personal or professional living spaces.

RESTRAINING FACTORS

"Several Challenges Associated with the Temperature Sensitivity to Restrain the Market Growth"

Abrasive Paper Market REGIONAL INSIGHTS

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"Asia Pacific Region to Dominate the Market with Developing Industrial and Automotive Sector"

In the future, the abrasive paper market share is anticipated to be dominated by the Asia-Pacific region. The large demand in the market is being fueled in part by the expanding construction, automotive, aerospace, and electronics sectors. Rapid industrialization and urbanization are taking place in the developing nations of Asia-Pacific and Latin America, which is boosting the demand for the abrasives. There is a significant demand for abrasives products and services in these regions because to rising infrastructure development spending. The fastest-growing sector, Electronics System Design and Manufacturing (ESDM), is constantly changing economies and business models around the world. The Asia-Pacific region is therefore anticipated to rule the abrasives market during the forecast period as a result of the point mentioned above.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is an extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Klingspor (Germany)
• 3M (U.S.A)
• Mirka (Finland)
• Hermes (France)
• SIA (Singapore)
• Ekamant (Sweden)
• Nihon Kenshi (Japan)
• Saint-Gobain (France)
• Sankyo-Rikagaku (Japan)
• Carborundum Universal (India)
• Uneeda (U.S.A)
• Kovax (India)
• Dongguan Golden Sun Abrasives (China)
• Tung Jinn (China)
• Hubei Yuli (China).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.