July 21, 2024

Rising demand from furniture industry to drive the growth of Sanding Block Market

The global Sanding Block Market is estimated to be valued at US$ 363.1 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Sanding blocks are used as an abrasive tool in various industries such as construction, furniture, and automotive among others. Sanding blocks are available in different shapes and sizes depending on the application. They have sandpaper attached to their surface which helps smoothen surfaces during sanding process. Some key advantages of using sanding blocks are precision sanding, control over pressure application, and uniform sanding. Growing construction and furniture industries are majorly driving the demand for sanding blocks.

Market key trends:
One of the key trends in the sanding block market is growing demand from furniture industry. Sanding blocks are extensively used in furniture industry during wood finishing processes. Growing urbanization and rising disposable incomes have been driving the demand for wooden furniture globally. This in turn is augmenting the sales of sanding blocks. According to data, global furniture market is estimated to reach over US$ 1 trillion by 2025. Another major trend is increasing consumption of electric sanding blocks. Compared to manual sanding blocks, electric variants provide greater control, consistency and precision during sanding. With advancements in battery technology, cordless electric sanding blocks are gaining traction in the market.

Porter’s Analysis

  • Threat of new entrants: The sanding block market has moderate threat of new entrants due to high initial capital requirement and presence of dominant vendors.
  • Bargaining power of buyers: Buyers have low to moderate bargaining power due to availability of alternatives provided by multiple vendors.
  • Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power in this market due to high switching costs for vendors.
  • Threat of new substitutes: There is moderate threat of substitutes like sandpaper sheets in this market.
  • Competitive rivalry: The market is moderately competitive due to high intensity of competition among 3M, Bosch Power Tools, Festool GmbH and other vendors.

Key Takeaways

The global sanding block market is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing applications in woodwork, metalwork and repair & refurbishment projects.

Regional analysis
The Asia Pacific market dominates the global sanding block market and is expected to continue its dominance over the forecast period. China accounts for the fastest growth rate in the region owing to rise in construction activities. Europe is another major market for sanding blocks due to large number of woodwork and automotive refinishing activities.

Key players
Key players operating in the sanding block market are 3M, Bosch Power Tools, Festool GmbH, Klingspor AG, Mirka Ltd., Saint-Gobain Abrasives, Sankyo Rikagaku Co. Ltd., sia Abrasives Industries AG, Hermes Schleifmittel GmbH, Uneeda Enterprizes Inc., Keystone Abrasives, Indasa USA Inc., Sungold Abrasives, Abcon Industrial Products Ltd., Superior Abrasives LLC