Global Industrial Polishing Pads Market Analysis 2024
Monday,09 Sep,2024
Industrial polishing pads are key tools used to smooth and improve the surface of various materials and are widely used in industries such as semiconductor, automotive, aerospace, and metalworking.
The pads are usually made up of microfibers, natural fibers, or synthetic resins that provide efficient and precise polishing results. By 2024, the performance and durability of industrial polishing pads have been significantly enhanced with technological advancements and optimization of material processes.
According to the study, the industrial polishing pads market is expected to grow from USD 120 million in 2019 to USD 165 million by 2024, at a CAGR of 6.5%. The growth drivers are mainly derived from the robust growth of the global manufacturing industry, especially on the back of the increasing demand for high-precision machining.
Upstream Industry: The upstream supply chain of industrial polishing pads mainly includes raw material suppliers, such as manufacturers of polyurethane, nylon and other synthetic materials. The quality of these materials directly affects the performance of polishing pads. Global chemical material suppliers such as BASF and Dow Chemical play an important role in providing high-quality raw materials.
Midstream: The midstream industry is involved in the design, manufacture and distribution of polishing pads. Major manufacturers such as 3M, Saint-Gobain and Nitto Denko are leading the global market with advanced manufacturing technologies and extensive distribution networks. These companies continue to invest in product development to meet the changing market demands.
Downstream industries: Downstream users mainly include semiconductor manufacturers, automobile manufacturers, and metal processing companies. These industries demand the highest quality and performance from polishing pads, as this is directly related to the quality of the final product and its competitiveness in the market. For example, the miniaturization trend in the semiconductor industry requires polishing pads to be able to provide extremely high precision and consistency.
From the perspective of industry experts, the industrial polishing pads market will continue to see technological innovations and market expansion in 2024.
Klaus Schmidt, a former senior consultant at the German Association for Industrial Manufacturing Technology, said, “Advancements in industrial polishing technology, especially breakthroughs in materials and precision machining techniques, will open up new growth opportunities for the polishing pads market.”
The pads are usually made up of microfibers, natural fibers, or synthetic resins that provide efficient and precise polishing results. By 2024, the performance and durability of industrial polishing pads have been significantly enhanced with technological advancements and optimization of material processes.
According to the study, the industrial polishing pads market is expected to grow from USD 120 million in 2019 to USD 165 million by 2024, at a CAGR of 6.5%. The growth drivers are mainly derived from the robust growth of the global manufacturing industry, especially on the back of the increasing demand for high-precision machining.
Comprehensive Analysis of Industry Chain
Upstream Industry: The upstream supply chain of industrial polishing pads mainly includes raw material suppliers, such as manufacturers of polyurethane, nylon and other synthetic materials. The quality of these materials directly affects the performance of polishing pads. Global chemical material suppliers such as BASF and Dow Chemical play an important role in providing high-quality raw materials.
Midstream: The midstream industry is involved in the design, manufacture and distribution of polishing pads. Major manufacturers such as 3M, Saint-Gobain and Nitto Denko are leading the global market with advanced manufacturing technologies and extensive distribution networks. These companies continue to invest in product development to meet the changing market demands.
Downstream industries: Downstream users mainly include semiconductor manufacturers, automobile manufacturers, and metal processing companies. These industries demand the highest quality and performance from polishing pads, as this is directly related to the quality of the final product and its competitiveness in the market. For example, the miniaturization trend in the semiconductor industry requires polishing pads to be able to provide extremely high precision and consistency.
From the perspective of industry experts, the industrial polishing pads market will continue to see technological innovations and market expansion in 2024.
Klaus Schmidt, a former senior consultant at the German Association for Industrial Manufacturing Technology, said, “Advancements in industrial polishing technology, especially breakthroughs in materials and precision machining techniques, will open up new growth opportunities for the polishing pads market.”
