The global market for the felt bobs market is estimated to be worth USD 2,754.7 million in 2021 and is anticipated to reach a value of USD 3,848.4 million by 2031. Sales are projected to rise at a CAGR of 3.4% over the forecast period between 2021 and 2031. The revenue generated by the felt bobs market in 2020 was USD 2,687.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 2.5% in 2021.
Global Felt Bobs Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 (A) | USD 2,687.5 million |
| Estimated Size, 2021 (E) | USD 2,754.7 million |
| Projected Size, 2031 (F) | USD 3,848.4 million |
| Value-based CAGR (2021 to 2031) | 3.4% |
The target market is segmented under shape, product type, application, and distribution channel. The market is further sub-categorized under these segments to provide a granular aspect that will benefit the businesses operating in the market, improve their products, gain a competitive edge over other players, and grasp a major portion of the market.
The general felt bob's market is experiencing growth in demand because of the various industries such as metalworking, jewellery, and crafts. When it comes to delicate polishing applications such as metal ceramics or glass then felt bobs used in polishing and buffing applications give an excellent finish.
Due to the options they give and the effectiveness that has been seen in rendering nice finishes on different materials, it has become a common tool for specialized users as well as amateurs. These are also complemented by the development of new felt material technologies for increased durability and for segments of the market necessitating felt of a more suitable type, thereby stimulating the market.
The competitive landscape of the felt bobs market is characterized by a mix of established players and emerging brands, each vying to capture a share of this growing segment. Key players in the market include Spartan Felt, Gesswein, Molerado Finishing Systems, and Walter Surface Technologies, among others. Key companies compete on factors such as design innovation, material quality, and brand reputation.
The industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 1,093.7 million and is predicted to rise approximately 1.4 times the current market value through 2031.
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The felt bobs market is set to witness steady growth during 2021 to 2031, with a CAGR of around 4.5%.
Felt bobs market experiences varying demand outlook. Moreover, the recovering construction industry and the growing demand among customers for an aesthetic and premium look in residential sectors are likely to boost the demand for the felt bobs industry.
With the growing construction industry, the residential areas are expanding with time and thus, demand for the use of special tools in order to bring shine and enhance the life of furniture with the help of polishing the surface is projected to increase the demand for felt bobs.
The demand for coating operation of furniture in the residential sectors has been forever, therefore, evolving the felt bob industry.
Additionally, felt bobs serves the purpose of coating and providing with fine detailed and tight corners.
Wool is used in felt bobs, due to its ability to deliver a rich look to the surface polished. Further, the innovation in tools has eased the applicability of felt bobs, reducing input time without compromising the output.
Moreover, using felt bobs on the surface make it easy to clean the surface.
The application of felt bobs enhances the strength of material especially metals, therefore, sealing the surface and preventing the actions of microorganisms, and protecting from corrosion for a longer duration. Such positive factors are anticipated to grow the felt bobs industry.
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Considering the developments in the construction industry under the residential areas, the need and demand to innovate the furniture industry has been growing consistently.
Further, the growing demands and economic strength of the customers require delivering fast and productive solutions in all sectors without affecting the quality of the product.
Additionally, the availability of various varnishes that are applied using felt bobs on different kinds of metal alloys on machines and furniture has created a vast growth opportunity for the felt bobs industry.
Moreover, the growing demand for an aesthetic look in every segment is favoring as an important factor for the growth of the felt bob industry.
The countries of North America are estimated to contribute maximum to the felt bobs industry owing to the rise in the number of the requirement of durable, wear-resistant, and long-lasting metal products in residential and commercial sectors.
Moreover, the presence of an adaptive mindset allows the consumers and manufacturers to shift from traditional technologies to modern technologies that help create new opportunities for all industries; therefore, growing the felt bobs industry.
The USA felt bobs sales were impacted by the construction sector in 2020, as the industry faces a challenging year. However, low mortgage rates will lead a growing optimism and new opportunities in early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction materials, including felt bobs.
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The presence of various prominent manufacturers and dealers of the automotive industry in the countries of Europe is likely to augment the sales of felt bobs.
Consumption of metal and metal alloys in automotive is high and thus, is the need to protect them from damage due to rain and heat. Additionally, the manufactures in Europe believe in providing the customer with satisfying and long-lasting products, thereby, growing the sale of felt bobs industry.
Many countries in Europe have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, the automotive spending in the countries of Europe are likely to compensate the sales and continue to drive demand for felt bobs.
Some of the leading manufacturers and suppliers of felt bobs include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Shape 6.2. Product Type 6.3. Application 6.4. Distribution Channel 7. Global Market Analysis and Forecast, By Shape 7.1. Conical 7.2. Cylindrical 8. Global Market Analysis and Forecast, By Product Type 8.1. Low Density 8.2. High Density 9. Global Market Analysis and Forecast, By Application 9.1. Metals 9.2. Wooden Furniture’s 9.3. Jewelry 9.4. Others 10. Global Market Analysis and Forecast, By Distribution Channel 10.1. Wholesalers/ Distributors 10.2. Specialty Stores 10.3. Independent Polishing Equipment Stores 10.4. Online Retailers 10.5. Others 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. Asia Pacific 11.6. Japan 11.7. Middle East & Africa 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Europe Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. Japan Sales Analysis and Forecast, by Key Segments and Countries 18. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 19. Sales Forecast by Shape, Product Type, Application, and Distribution Channel for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Spartan Felt 21.2. Gesswein 21.3. Molerado Finishing Systems 21.4. Walter Surface Technologies 21.5. Forney Industries 21.6. Kemet International 21.7. Ningbo Helian Tools Co., Ltd. 21.8. Swmetal.com 21.9. Caswell Australia 21.10. Dico Products Corp 21.11. DISCO Corporation 21.12. BOKING INDUSTRY CO., LTD 21.13. Nangong Rolking Fet Co., Ltd. 21.14. Ningbo Beilum Purui Polishing Products Co., Ltd. 21.15. Metal Polishing Supplies UK Ltd 21.16. RS Components Pte Ltd
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Felt Bobs Market
