The global cut wire shot market is expected to grow from USD 921.65 million in 2019 to USD 1269.65 million by 2027, at a CAGR of 4.07% during the forecast period from 2020-2027.
Cut wire shot is a mono gain size abrasive, which is used for cleaning, tumbling, and peening. It has a cylindrical shape with sharp edges and used in wheel blast equipment. Cut wire shot also used in the shot pinning application of the general industry, aerospace, automotive, and oil & gas. The cut wires are highly durable in nature and can be made up of many materials such as nickel, zinc, copper, aluminum, carbon steel, stainless, and steel.
The global cut wire shot market is witnessing steady growth, owing to the rise in demand for the cut wire from various end-use applications. Cut wire shots are commonly used in the machinery, equipment, metallurgy, building materials, and in the shipbuilding for steel derusting. Due to its advantages, including low cost, thorough derusting, and high roughness properties, the demand for cut wire shot is rising in the market. However, the fluctuation in the raw material prices could hamper the market growth over the forecast period.
This study delivers a comprehensive analysis of type, application, and region. The type segment includes nickel, zinc, copper, aluminum, carbon steel, and stainless steel. The stainless steel segment held the dominant market share of 31.21% in terms of value in the year 2019. Stainless steel cut wire shots are being widely used in the various applications where ferrous contamination in blasting could be harmful to titanium, aluminum, or other non-ferrous work objects. In addition to this, it has significantly longer durability than the carbon cut wire shot or cast steel shots. Thus, with these increasing benefits, the use of stainless steel cut wire shot is increasing in the market. The application segment is classified into shot blasting, surface finish medium, processing of stainless steel, wood & plastics, and others. Processing of stainless steel, wood, & plastics segment is projected to grow at the highest CAGR of 4.98% over the forecast period. The cut wire shot helps to prevent contamination and rusting during the processing of stainless steel and offers excellent results due to its uniformity and strength. It is also used in the shot pinning process to create the plastic deformation. Thus, the increasing use of cut wire shots in different applications is likely to drive market growth over the forecast period.
The cut wire shot market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia Pacific region dominated the global cut wire shot market and held 42.35% market share in the year 2019, due to the presence of many local and international manufacturers in countries such as China. China is the largest producer and supplier of the cut wire shot in the world as well as in the Asia Pacific region.
This study forecasts revenue growth at global, regional, and country levels from 2013 to 2027. Fior Markets has segmented the on the basis of below-mentioned segments:
- Global Cut Wire Shot Market Analysis And Forecast, By Type
- Nickel
- Zinc
- Copper
- Aluminum
- Carbon Steel
- Stainless Steel
- Global Cut Wire Shot Market Analysis And Forecast, By Application
- Shot Blasting
- Surface Finish Medium
- Processing of Stainless Steel, Wood & Plastics
- Others
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From Fior Markets
Published On: March 2020
Report ID:417821
Category: Chemicals and Materials
Page190
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Post time: Apr-02-2020