Global Abrasive Paper Market Share Is Expected To Grow At A CAGR Of 4.25% By 2028

30-Sep-2022 | Facts and Factors

According to Facts and Factors, the global abrasive paper market size was worth around USD 2550 million in 2021 and is predicted to grow to around USD 3264 million by 2028 with a compound annual growth rate (CAGR) of roughly 4.25% between 2022 and 2028.

Abrasive papers are coated abrasives which refer to an abrasive grain integrated into a substrate with high flexibility using some form of adhesive. The structure consists of a bundle of cloth or paper consisting of the abrasive material of any of the two sides. Abrasive papers are used to polish different materials, for modifying the size of the product or removing any coating of material from a given surface. Some abrasive materials used to create abrasive paper include emery, garnet, glass, chromium oxide, and flint. Out of these glass and flint have become redundant and are no longer used in the global market. Wet & dry papers have wide applications in the automobile sector and are basically sheets of paper with one waterproof side allowing the use of a lubricant, which in most cases is water. When the product is dry, it is capable of decapitating rough surfaces, and if used in a wet format, it can produce a satin finish in a semi-polished form. Emery papers are used in case the surface to be scrubbed has extremely high abrasions. It is used extensively in the watch-making process.

Browse the full “Abrasive Paper Market Size, Share, Growth Analysis Report By Application (Furniture Manufacturing, Home Decoration, Metal Polishing, Shipping Industry, Jewelry, Music Industry, Electronic Product, and Others), By Type (Dust-Free Abrasive Paper, Wet & Dry Abrasive Paper, Sponge Abrasive Paper), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/abrasive-paper-market

The global market size witnessed massive losses during the pandemic since it fell under the non-essential segment. The highest consumers of the product including the furniture market, home decor, and automobile sector recorded a loss in revenue which subsequently impacted the revenue level in the global market cap as well.

The global abrasive paper market is projected to grow because of wide applications in the automobile segment, especially the decoration sub-segment. With the growth in the electric vehicles market, the demand for abrasive papers is projected to grow tremendously as it is predicted to be one of the fastest-growing segments in the automobile industry. Abrasive papers are used to remove rust spots or to bring a certain shine to the vehicle. The demand is fueled by the presence of multiple types of abrasive papers for different functions. For instance, low-grit abrasive papers are recommended in case of repair jobs related to auto body parts requiring rough surfaces to be flattened. Medium grit is preferred for activities that require vehicle smoothening before applying the base coat, whole high-grit abrasive papers work best for removing minor imperfections as well as eradicating scratches. The automobile segment is projected to fuel the demand for one specific type of abrasive paper which is aluminum oxide with a closed coat since the grains installed can cover around 94.5% of the disc surface, allowing excellent work on non-ferrous and ferrous metals.

The temperature sensitivity may restrict market expansion, but growth opportunities can be expected due to an increase in new entrants in the wood furniture market while the global market may face challenges due to high dependency on human resources.

The global abrasive paper market is segmented based on type, application, and region.

Based on type, the global market is divided into dust-free abrasive paper, wet & dry abrasive paper, and spine abrasive paper. The global market is led by wet & dry abrasive papers as they have high application in the expanding automobile segment, where they have decorative applications. The automotive interior market was valued at USD 154 billion in 2021 and may grow at a CAGR of 5.65% in the coming years driving the demand for abrasive papers.

Based on application, the global market segments are furniture manufacturing, home decoration, metal polishing, shipping industry, jewelry, music industry, electronic product, and others. The global market is led by the home decoration segment since the product has wide applications ranging from paint removal to modifying the interior decorating objects in the living space. It is also used for polishing, corrosion removal, deburring, and sizing. The growing real estate market is a key consumer of abrasive papers. For instance, as per a report published by Boston.com, spending on home improvement in the United States increased by 3% in 2021, nearing USD 420 billion.

Asia-Pacific is projected to grow at the highest CAGR in the global abrasive paper market propelled by the growing automobile segment in economies like India, China, South Korea, and Japan to name a few. The growing number of domestic and international players as well as foreign investor-friendly policies may drive the demand for more automobiles in the coming years further imparting the same trend on abrasive papers. The Indian economy is investing heavily in the e-vehicles segment with many domestic players providing budget-friendly vehicles to the growing population and subsequent demand in the regional market. As per the official website, India’s automotive industry is currently valued at more than USD 221.9 billion and is projected to become the third largest in the global market by the end of the decade.

Report Scope

The global abrasive paper market is dominated by players like Saint-Gobain, Ekamant, Carborundum Universal, SIA, Uneeda, and Dongguan Golden Sun Abrasives amongst others.

Recent Developments:

• In January 2021, Mirka announced the launch of a new abrasive drive by high technology termed Mirka® Galaxy.
• In September 2020, RPM completed the acquisition of Ali Industries LLC., a leading abrasives manufacturer.

The global abrasive paper market is segmented as follows:

By Application

• Furniture Manufacturing
• Home Decoration
• Metal Polishing
• Shipping Industry
• Jewelry
• Music Industry
• Electronic Product
• Others

By Type

• Dust-Free Abrasive Paper
• Wet & Dry Abrasive Paper
• Sponge Abrasive Paper

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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