Flap Discs Market Scope
The global flap discs market is expected to grow at a moderate pace during the forecast period, according to the AMA study. The rising demand for metal fabrication across different industries propelled by the rising production of automobiles, aircraft, and defense equipment is expected to be one of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | 3M (United States), BLUESHARK Abrasives Co., Ltd. (China), Camel Grinding Wheels (Israel), CIBO (United States), Deerfos (South Korea), Dronco GmbH (Germany), Henan Sanders Abrasives CO., Ltd. (China), Klingspor AG (Germany), Metabowerke GmbH (Germany), Rigo Abrasives Co., Ltd. (China), Saint-Gobain (France) and Tyrolit (Austria) |
CAGR | 6.6% |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Flap Discs market throughout the predicted period.
3M (United States), BLUESHARK Abrasives Co., Ltd. (China), Camel Grinding Wheels (Israel), CIBO (United States), Deerfos (South Korea), Dronco GmbH (Germany), Henan Sanders Abrasives CO., Ltd. (China), Klingspor AG (Germany), Metabowerke GmbH (Germany), Rigo Abrasives Co., Ltd. (China), Saint-Gobain (France) and Tyrolit (Austria) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Weiler Abrasives Group (United States), Wurth Industry of Canada Ltd. (Canada) and Zhejiang Yida Abrasive Co.,Ltd (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Flap Discs market by Type , by Application (Mining Operations, Tire Manufacturing, Equipment Manufacturing and Others) and Region with country level break-up.
On the basis of geography, the market of Flap Discs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2022,Norton’s Vortex agglomerated aluminum-oxide grain technology enables the cutting power of a coarser grit, while producing a finer finish in one abrasive disc solution. The company reports that, based on tests performed, the new non-woven discs can increase material removal rates (MRR) over 50% compared to non-woven medium grit flap discs.
In November 2020,Norton abrasives introduces the latest addition to their ‘best’ tier flap disc range; Norton X-Treme R860 A new development in the recipe related to the zirconia grain and bond are key components of the high performance and aggressive cutting action shown by the disc.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Flap Discs
Influencing Trend:
Increasing Automation Across Different Industries
Market Growth Drivers:
Rising Demand for Metal Fabrication Across Different Industries and Increasing Usage of Metals Owingfg to Rising Aircraft & Automobile Production
Challenges:
Reduced Industrial Operations in the FY 2020 Leading to Economical Crisis Due to COVID-19 Pandemic
Restraints:
Increasing Adoption of Metal Alloys and Composite Materials Across Different Industries
Opportunities:
Industry 4.0 is Expected to Create Huge Opportunities for the Market Vendors During the Forecast Period
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the global flap discs market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.