Overview of the global sanding pad market
Technavio’s market research analyst predicts the global sanding pad market to grow steadily at a CAGR of around 6% by 2021. One of the primary growth drivers for this market is the exponential growth in the do-it-yourself (DIY) activities. DIY practices encourage household consumers to manufacture and create products from scratch. As the sanding pad is imperative for smoothing of surfaces, removal of materials, and scraping off layers from surfaces, the growth of DIY activities will influence the growth of sanding pad market. Home improvement activities such as renovating and remodelling is a key segment of the global DIY market. Also, the growth in the global DIY market can be attributed to the increase in the number of retail stores such as hypermarkets, supermarkets, and specialty stores. These stores enhance the availability of raw materials such as abrasive sanding pads to consumers. The growth of the market is further supported by media presence through traditional media such as television or online formats like videos or social media.
One of the latest trends gaining traction in this market is the increase in the use of garnet. Garnet is a precious stone, consisting of deep red vitreous silicate minerals and is used for various commercial and industrial purposes. In the sanding pad industry, garnet is used as a replacement for silica sand in sanding purposes. The factors influencing this shift are lesser cost of garnet than silica, and its round grains, which makes it a suitable material for many industrial applications. With an increasing number of vendors manufacturing sanding pad with garnet, the adoption of these sanding pads is expected to rise in the coming years.
Competitive landscape and key vendors
The global sanding pad market is expecting intense competition due to the presence of few players. Vendors compete on the basis of price, quality, branding, and customer service. As, the differentiation between the sanding pads available in the market is minimal, vendors are focusing on securing long-term contracts with end-users. To gain a competitive advantage, vendors cater to diversified segments and offer a variety of abrasives for sanding and grinding, including sanding pads and sanding disks.
Leading vendors in the market are -
- Bosch
- 3M
- Saint-Gobain
- Stanley Black & Decker
Other prominent vendors in the sanding pad market include Astro Pneumatic, CGW, FastCap, Klingspor, Mirka, Nitto Kohki, and PineCar.
Segmentation by end-user and analysis of the sanding pad market
- Automotive
- Machinery
- Metal fabrication
- Electrical and electronic equipment
During 2016, the automotive segment dominated the sanding pad market and accounted for a major part of the overall market share. In the automotive industry, abrasives like sanding pads are used to provide precision, shine, and glossy finish to automotive parts. Sanding is also employed to smoothen rough surfaces after assembling automotive components and in preparation for welding work. With the rapid growth of the automotive sector across the globe, the market share of sanding pad in this segment is expected to increase exponentially over the coming years.
Geographical segmentation and analysis of the sanding pad market
- APAC
- North America
- Europe
- ROW
In this market study, analysts have estimated APAC to dominate the sanding pad market during the forecast period. Rapid industrialization and urbanization, especially in India, China, and Japan are the key contributor to the growth of this market in the region. The growth in the manufacturing, automotive, and construction industries and the increase in industrial production have boosted the growth of the sanding pad market in APAC.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global sanding pad market?
- What are the key market trends impacting the growth of the global sanding pad market?
- What are the challenges to market growth?
- Who are the key vendors in the global sanding pad market?
- What are the market opportunities and threats faced by the vendors in the global sanding pad market?
- Trending factors influencing the market shares of the APAC, North America, Europe and ROW.
- What are the key outcomes of the five forces analysis of the global sanding pad market?
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