The new report by Expert Market Research titled, ‘Global Metal Finishing Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global metal finishing market, assessing the market based on its segments like major types, applications, regional markets, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 94.6 billion
- Forecast CAGR (2022-2027): 4%
Metal finishing's widespread use in the booming automobile industry is boosting the market’s growth. It is used in a variety of automobiles to avoid premature corrosion and to give the overall appearance a smooth and attractive finish. Furthermore, it is utilised as a protective layer on automotive components such as engines, power steering systems, shock absorbers, anti-vibration components, and fuel systems, among others. The smooth surface of the components helps the engine generate more horsepower, which improves the vehicle's overall performance. The metal finishing sector is also benefiting from this.
Metal plating market expansion is being aided by increased demand for robust, ductile, and corrosion-resistant metal products. Metal finishing is used in every sector of the aerospace industry, which is experiencing strong expansion, to meet tight regulations and provide optimum performance and operational security of aircraft. Furthermore, it improves corrosion resistance, high-temperature resistance, electrical conductivity, and the strength of the metal substrate, which is why it is often employed on titanium. Furthermore, the employment of metal finishing in tanks and armoured personnel carriers in the defence industry to meet the requirement for difficult weather conditions is boosting the market growth.
Industry Definition and Major Segments
The technique of applying a metal coating to an object to improve its aesthetic and durability is known as metal finishing. Electroplating is a method of cleaning, polishing, and enhancing a surface. It's utilised to change the surface characteristics of other metals or polymers.
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The major types of metal finishing are:
The market can be broadly categorised on the basis of its applications into:
- Automotive
- Appliances
- Aerospace and Defence
- Industry Machinery
- Medical Devices
- Electronics
- Construction
- Others
The Expert Market Research report looks into the regional markets of metal finishing like:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa
Market Trends
Technological improvements have led to the usage of metals such as titanium and magnesium rather than stainless steel. Metal finishing is critical in ensuring that goods reach the requisite quality and performance. It also assures that surgical instruments meet a high standard of hygiene, dependability, and safety. This is assisting the industry's development. Metal finishing is used to ensure smooth, rust-free surfaces when several medical equipments, such as prosthetic hips and heart pacemakers, are placed within the body to reduce the danger of infection, which is fueling market expansion. Furthermore, patients benefit from metal finishing since it uses minimally invasive medical treatments, which reduces patient recovery time and healthcare expenditures. This is also fueling the market's expansion.
Metal finishing is widely used in consumer electronics for corrosion resistance, stain resistance, ductility, and wear resistance, among other things. Furthermore, it is employed to enhance overall appearance and aesthetics, which is moving the sector forward. Furthermore, different advancements and improvements in metal finishing are increasing its use in a variety of industrial applications. It is used to increase electrical conductivity and torque resistance, among other things, as well as to reduce the wear and tear on metallic objects. Metal finishing in precision tools enhances the accuracy and longevity of the latter while also making cleaning easier, boosting the market growth.
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Key Market Players
The major players in the market are Honeywell International Inc., Atotech Deutschland GmbH, Uyemura, Auromex Co., Ltd., DuPont de Nemours, Inc., and TIB Chemicals AG. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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