IndustryARC, in one of its latest reports, predicted that the sanding belts market size is estimated to reach US$270.6 million by 2027 after growing at a CAGR of around 7.5% from 2022 to 2027. The increasing demand of sanding belts for usage in the metal industry is driving the sanding belts market. Furthermore, the rising application of sanding belts in hardwood and metal finishing, fabrication and others usage in automotive, construction, and furniture end use industry is offering growth in the global sanding belts industry. The sanding belts market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the Sanding Belts industry are –
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1. By material, the ceramic grit segment held the largest sanding belts market share and will grow at a CAGR of 6.9% during the forecast period. The demand for ceramic grit material type for is rising owing to its diverse applications range in metal and hard wood.
2. By end use industry, the metal segment held the largest sanding belts market share and will grow at a CAGR of around 7.7% during the forecast period. The sanding belts have growing application in the metal industry for smoothening and finishing the metals such as stainless steel, aluminum, and others.
3. By geographical analysis, the Asia Pacific held the largest market share and is expected to grow at 7.9% in the sanding belts market during the forecast period. The demand of sanding belts in this region is rising due to various applications in furniture, metal, construction, and automotive sector.
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Market Drivers and Challenges:
1. The increasing application of sanding belts in the furniture sector for smoothing and grinding the wood surfaces is offering major growth in the global sanding belts market. Furthermore, the increased production in the furniture sector for home, office spaces, wood crafts, and others led to major growth in sanding belts market. The increasing production activities and growth of furniture sector is driving the sanding belts market and providing major growth opportunities in the market.
2. The high demand of ceramic resin bond sanding belts for stainless steel finishing, aluminum castings and others in the metal fabrication and polishing applications is driving the market. The growth of metal processing and fabrication activities is boosting the demand of sanding belts, thereby offering major growth opportunities in the global sanding belts industry.
3. The sanding belts have rising application in various industrial verticals. The demand for aluminum oxide material is high in the market. However, the prices of aluminum are rising, which is creating major challenge for the growth in the market.
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