NEWARK, Del., April 25, 2022 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) study, the global mass finishing consumables market is projected to be valued at US$ 206.8 Mn by the end of 2022, demonstrating moderate growth at a less than 5% CAGR during the forecast period, 2022 - 2029.
Sales of mass finishing consumables are primarily driven by the increasing demand for surface finishing from various end-use industries such as automotive, aerospace, and general and industrial engineering. The mass finishing consumables market in North America is anticipated to hold a market share of 18.7% by the end of 2029.
The U.S. is projected to account for approximately 67.5% of the North America mass finishing consumables market in 2029. In 2022, the market is expected to grow by 4.9% year-on-year, reaching a valuation of US$ 26.1 Mn by the end of 2and 022, and is anticipated to hold a market share of 12.6% in the global mass finishing consumables market share by 2029.
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A list of Key Players Covered in the Mass Finishing Consumables Market Are:
- Rösler Oberflächentechnik GmbH
- Norican Group
- Sintokogio, Ltd.
- Washington Mills
- Kramer Industries Inc.
- OTEC Präzisionsfinish GmbH
- Abrasive Finishing Inc.
- UM Abrasives Co.
- Vibra Finish Company
- Walther Trowal LLC
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Key Takeaways - Global Mass Finishing Consumables Market
- Non-metallic abrasives provide more contact area during the finishing process than metallic ones, thus enabling the dimensions of parts to stay intact. Furthermore, non-metallic abrasives are best suited for both wet and dry applications. This leads to the growing preference for non-metallic abrasives (ceramic, plastic, and porcelain) over metallic abrasives (such as steel).
- Ceramic and plastic mass finishing consumables are estimated to account for more than 70% of total mass finishing consumables worldwide.
- Plastic mass finishing consumables are generally recommended for use with softer metals, such as aluminium, brass, and zinc.
- Use of fixtures is an upcoming trend. This process increases the flow of media onto the component surface, thereby contributing to an increased finishing action.
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New entrants in the global mass finishing consumables market can benefit by penetrating emerging economies in East Asia, where substantial growth is seen in the manufacturing sector.
Implementation of digitization and automation technologies over conventional technologies in the production line, product innovation, and footprint expansion remain key strategies followed by mass finishing consumables manufacturers to enhance productivity and capture new market opportunities.
Reducing Third-party Dependence on Finishing Services to Propel Market Growth
Sustainable growth of investment in the manufacturing sector is expected to play a key role in driving the growth of the mass finishing consumables market across the globe. From the perspective of end-use industries, surface finishing is used in almost every industry for cleaning and refurbishing metallic and non-metallic parts.
End users are dependent on third-party service providers, which increases production costs and negatively impacts profitable margins. The high cost involved influences such end-users to opt for in-house surface and finishing technologies and to enhance productivity along with reducing cost and time.
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Interested in More Information?
A new market report on mass finishing consumables published by Future Market Insights brings to the fore a pinpoint analysis of the market and offers comprehensive information with historical demand data for 2014 - 2021 and forecast statistics for 2022 - 2029. The study offers insightful information on the global mass finishing consumables market based on various categories - media type (ceramic, plastic, steel, aluminium oxide, and others), application (deburring, pressure deburring, grinding, polishing, and ball furnishing, among others), and end-use industry (automotive, aerospace, machine tooling, general manufacturing, construction, healthcare, and jewellery & accessories), across seven regions.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Overview
1.3. Demand Side Trends
1.4. Supply-Side Trends
1.5. Analysis and Recommendations
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
4. Key Success Factors
5. Global Mass Finishing Consumables Market Demand Analysis 2014-2018 and Forecast, 2019-2029
5.1. Historical Market Volume (TONS) Analysis, 2014-2018
5.2. Current and Future Market Volume (TONS) Projections, 2019-2029
5.3. Y-o-Y Growth Trend Analysis
6. Global Mass Finishing Consumables Market –Pricing Analysis
6.1. Regional Pricing Analysis By Region
6.2. Pricing Break-up
6.2.1. Manufacturer Level Pricing
6.3. Global Average Pricing Analysis Benchmark
TOC Continued…!
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