Report : South America 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)
Automotive Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to a new market research study on “SAM 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$ 348.78 million by 2028 from US$ 279.03 million in 2021. The market is estimated to grow at a CAGR of 3.2% from 2021 to 2028. The report provides trends prevailing in the SAM bi-metal band saw blades market along with the drivers and restraints pertaining to the market growth. The cost-effectiveness of tools that enable high-performance in-house metal sawing and rising demand from various end-user industries are the major factor driving the growth of the SAM bi-metal band saw blades market. However, high cost of maintenance required for bi metal band saw blades hinders the growth of SAM bi-metal band saw blades market.
In SAM, Brazil is the worst-affected country by the COVID-19 pandemic, followed by Ecuador, Chile, Peru, and Argentina. Governments of these countries have taken an array of actions to protect their citizens and contain the spread of COVID-19. The bi metal band saw blade market has been negatively affected by the lack of raw materials such as high-speed steel tooth tips and alloy steel, as well as disruptions in the blade manufacturing processes. Bi metal band saw blades are widely used in end-user industries such as automotive and machinery manufacturing. The COVID-19 pandemic severely affected the motor vehicles, metals, chemical products, textiles, and machinery and equipment manufacturing industries, among others, in 2020. The COVID-19 pandemic has had a significant impact on the automotive and chemicals & materials industries across SAM. Containment measures in several SAM countries have reduced economic activity in the chemicals & materials industry; however, the industry is likely to grow once the region manages to revive from the pandemic.
The SAM 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 Brazil, Argentina, and rest of SAM.
AMADA MACHINERY CO., LTD.; BICHAMP CUTTING TECHNOLOGY CO(HUNAN).,LTD; EBERLE; Gebr. Lennartz GmbH & Co. KG; ROBERT RÖNTGEN GMBH & CO. KG; SNA Europe (BAHCO); and Starrett are among the leading companies in the SAM 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 2021, Starrett has consolidated Jedburgh; Scotland and Mt. Airy, NC saw manufacturing operations into Brazil. This strategic restructuring is expected to improve the company's manufacturing utilization and is anticipated to create a global scale saw business.
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