The global liquid sandpaper market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand from the chemical and material industry.
Liquid sandpaper, also known as deglosser or wet sanding, is a useful product. Sand paper is a type of coated abrasive that consists of paper or fabric sheet with abrasive material glued on one of its sides. It is useful in removing rust and paints from surfaces. Liquid sand paper is a chemical solution that eliminates the glossy layer from any painted item, enables painting over the object by preventing the paint from dripping.
The liquid sand paper doesn't smooth the surface or correct the imperfections on the surface. It is most suitable for complicated surfaces such as crown molding, nooks and crannies. The liquid application eases to reach to intricate parts and other areas, which are beyond the reach of sand papers. Better adhesion for gloss paints and increment in the number of do it yourself home owners has increased the demand for liquid sand paper.
Amidst the COVID-19 pandemic, according to world bank statistics, the global GDP has shrunk by about 3.5% in 2020. Since 2021, the economic activity in many countries has started to recover and partially adapted to pandemic restrictions. The research and development of vaccines has made breakthrough progress, and many governments have also issued various policies to stimulate economic recovery, particularly in the US, is likely to provide a strong boost to economic activity but prospects for sustainable growth vary widely between countries and sectors.
Although the global economy is recovering from the great depression caused by COVID-19, it can remain below pre-pandemic trends for a prolonged period. The pandemic has exacerbated the risks associated with the decade-long wave of global debt accumulation. It is also likely to steepen the long-expected slowdown in potential growth over the next decade.
Market Trends, Drivers, Restraints, and Opportunities
- The rise in the suitability of liquid sand paper for objects with grooves and intricate design and its various application as a substitute for sandpaper can bolster the growth of the market in the near future.
- Increasing demand for easy to use and safety characteristics of liquid sand paper is expected to boost the liquid sandpaper market.
- Rising numbers of home owners and buyers is fueling the market growth.
- Highly volatile nature of liquid sandpaper can restrain the growth of the market.
- Growing number of products lunches and maintenance work of infrastructure in residential construction activities is estimated to foster the market growth.
Scope of Liquid Sandpaper Market Report
The report on the liquid sandpaper market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Liquid sandpaper Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Home, Offices, and Industries)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
RPM International Inc; Heinrich König & Co. KG; WM Barr.; AkzoNobel N.V and JASCO.
Liquid Sandpaper Market Segment Insights
Based on applications, the market is divided home, offices, and industries. The home segment is estimated to expand at a rapid pace due to increased demand for easier applicability. The suitability of liquid sand paper for objects with grooves and intricate designs is spurring the segment growth. On the other hand, the offices segment is estimated to grow at a rapid pace in the near future.
In terms of regions, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to account for a large market share due the increasing demand for home refurbishment, wherein liquid sandpaper is used frequently. On the other hand, the market in Asia Pacific is anticipated to constitute a large market share owing to high rate of urbanization, growth in infrastructure, and increase in population.
The global liquid sandpaper market has been segmented on the basis of
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the liquid sandpaper market are RPM International Inc; Heinrich König & Co. KG; WM Barr.; AkzoNobel N.V.; and JASCO.