Report : Asia Pacific Bi-Metal Band Saw Blades Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Carbide Tipped and High Speed Steel), Application (Steel, Aluminum, Cast Iron, Non-Ferrous Material, and Others), and End Use Industry (Automotive, Aerospace and Defense, Machine Manufacturing, and Others)
Machine Manufacturing Segment to Dominate APAC Bi-Metal Band Saw Blades Market During 2021–2028
According to a new market research study on “APAC Bi-Metal Band Saw Blades Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End Use Industry” is expected to reach US$ 3,670.74 million by 2028 from US$ 2,320.38 million in 2021. The market is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report provides trends prevailing in the APAC bi-metal band saw blades market along with the drivers and restraints pertaining to the market growth. Burgeoning development of innovative products and growing customization of band saw blade products are the major factor driving the growth of the APAC bi-metal band saw blades market. However, expensive maintenance hinders the growth of APAC bi-metal band saw blades market.
In case of COVID-19, APAC is highly affected specially India. Automotive and construction industries in the country have been affected the most. The manufacturing sector in India has come to a near standstill. Movement restrictions and social distancing norms, owing to the rapid rise in COVID-19 cases, have led to a huge decline in manufacturing, which is anticipated to negatively impact the bi metal band saw blade market growth. The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants in has affected the global supply chain and negatively impacted the manufacturing capabilities, delivery schedules, and sales of various goods. The pandemic has directly affected the production and demand, which has led to supply chain and market disruption and has subsequently impacted the financial status of the firms and the global economy. Chemicals & materials is one of the major industries suffering serious disruptions such as supply chain breaks and shutdowns of production plants. However, vaccination drive across the APAC is anticipated to revive the economy and propel the APAC bi metal band saw blade market growth.
The APAC bi-metal band saw blades market is segmented based on product type, application, end use industry, and country. Based on product type, the market is bifurcated into carbide tipped and high speed steel. The high speed steel segment dominated the market in 2020 and carbide tipped segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into steel, aluminum, cast iron, non-ferrous material, and others. The steel segment dominated the market in 2020 and aluminum segment is expected to be fastest growing during forecast period. Based on end use industry, the market is segmented into automotive, aerospace and defense, machine manufacturing, and others. The machine manufacturing segment dominated the market in 2020 and automotive segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
AMADA MACHINERY CO., LTD.; BENXI TOOLS GROUP; BICHAMP CUTTING TECHNOLOGY CO(HUNAN).,LTD; EBERLE; Gebr. Lennartz GmbH & Co. KG; HAKANSSON SAWS INDIA PVT. LTD.; ROBERT RÖNTGEN GMBH & CO. KG; SNA Europe (BAHCO); Starrett; and WIKUS are among the leading companies in the APAC bi-metal band saw blades market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Bichamp Cutting Technology (Hunan) Co., Ltd has designed and introduced a sawing blade for aluminum with the cooperation of the Aluminum Association of China. The product consists of four width specifications of 34mm, 41mm, 54mm, and 80mm.
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