London, 20 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the global non-woven abrasives market 2015-2019, which is estimated to grow at a CAGR of 4.94% during 2014 and 2019.
The demand for non-woven abrasives is continuously rising because of the growing requirements of end-user industries (construction, transportation, and durable goods) in APAC, Europe, and North America. Technavio analysts believe that APAC will be the most attractive market over the forecast period because of its increasing infrastructural spending on and expansion of end-user industries, which in turn drive the demand for manufacturing and fabrication machinery and goods.
“India is another promising market for abrasives products because of increased demand from automotive, rail, and construction end-users,” says Faisal Ghaus, Vice President of Technavio.
“Driven by federal initiatives such as Make in India and the favorable regulatory environment for foreign investors, India is expected to post high manufacturing growth over the coming five years.”
Key Market Drivers
- Growth in global industrial production driven by emerging economies
- Lower price of and wide range of uses for non-woven abrasives
- Rising demand from automotive sector, especially in China
- Technological advances and low entry barriers
Key Market Trends
- Energy efficiency and sustainability
- Emergence of China and India as major producers-cum-consumers
- Forward integration and strategic distribution partnerships
- Increased emphasis on near net shape manufacturing
Key Market Vendors
- 3M
- CAEC
- DEWALT
- Hermes Abrasives
- KWH Mirka
- Osborn
- Saint-Gobain
- Sia Abrasives
- Tyrolit Schleifmittelwerke
- Walter Surface Technologies
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
