Non-Woven Abrasives Market Set for Rapid Growth by 2021

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Non-Woven Abrasives Market - Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021


City, State, India., December 6, 2017 - (PressReleasePoint) -

According to the report, the India non-woven abrasives market was valued at USD 125.68 million in 2015 is expected to reach USD 176.72 million in 2021 and is anticipated to grow at a CAGR of 5.69% between 2016 and 2021. In term of volume, Indian non woven abrasives market stood at 54.65-kilo tons in 2015.

 

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Abrasives are commonly used in the variety of applications such as grinding, abrading, and cleaning of objects to give them a proper shape and finish. Bonded, non-woven, coated, loose abrasive grains are the different types of abrasives. Non-woven abrasives play vital role in metal finishing. Technological advancements and increase in overall trade and transportation globally are expected to fuel the non-woven abrasives market to a great extent particularly in budding economies of China and India. Resilient, comfortable, waterproof, non-loading and non-rusting are some advantages posses by non-woven abrasives.

 

The major driving factor for non-woven abrasives market is the growth of transportation, construction and manufacturing sectors in India. Increasing construction activities in India over the past couple of years increases the demand of non-woven abrasives rapidly. Moreover, initiatives taken by Indian government under ‘Make in India’ project to grow industrial and manufacturing activities in the region is expected to drive this market in coming year. Growing demand of non-woven abrasives from automotive sector fueled the non-woven abrasives market. However, this market is experiencing low-profit margins due to volatility in crude oil prices.

 

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Construction, household, transportation, electronics & semiconductors and other such as industrial application that is. machinery, medical devices etc. are the end-user segment of non-woven abrasives market. Among all, other segments which include the industrial application such as machinery, and medical devices accounted for the largest share of the non-woven abrasives market in 2015. It accounted for 35.14% share of the market in terms of volume.

 

Asia Pacific dominated the global abrasives market in 2015 and is expected to lead the market during the forecast period. Due to rising demand of abrasives in developing economies like India and China, Asia Pacific dominated the overall abrasives market. Indian non-woven abrasives market is expected to grow due to the rising population coupled with rising demand for transportation.

 

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Some of the key player for Indian non-woven abrasives market includes AE Abrasives Edge Pvt. Ltd, Osborn, Steel Shine (Uppal India), Sia Abrasive (A Bosch Company), Samadhan Group, Stacke Abrasives India Pvt. Ltd, Saint-Gobain (Grindwell Norton), Wolcut Abrasives Private Limited, Scrubex Corporation, Amazon Brush Company, Humac Abrasives Private Limited and Mirka Ltd. Grindwell Norton ( the same subsidiary of Saint-Gobain) and Carborundum Universal are some of the leading companies in Indian Non-woven abrasives market and have established their long-term standing in this business. In 2014, Carborundum suffered with fall in its margin due to rising power and fuel costs, while Grindwell effectively saves their margin ration by purchasing key raw material silicon carbide from their supplier.

 

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