Composite Metal Finishing Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Process (Electroplating and Electroless Composite Plating), Filler Used (Diamond, Boron Nitride, Silicon Carbide, Polytetrafluoroethylene, and Others), End-user Industry (Automotive, Electronics, Aerospace, Oil & Gas, Heavy Equipment, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

7 %

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Market Overview

The composite metal finishing market is estimated to witness a significant growth, at an estimated CAGR of over 7%, over the forecast period. Growing popularity of electroless nickel composite coatings and substitution of chrome (VI) plating in specific applications are expected to drive the market during the forecast period.

  • Increasing replacement of metal by plastics and premium costing of products are likely to hinder the market’s growth.
  • Development of trivalent chromium hard chrome plating process is likely to create opportunities for the market growth in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

Scope of the report

The composite metal finishing market report includes:

Process
Electroplating
Electroless Composite Plating
Filler Used
Diamond
Boron Nitride
Silicon Carbide
Polytetrafluoroethylene (PTFE)
Others
End-user Industry
Automotive
Electronics
Aerospace
Oil and Gas
Heavy Equipment
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Automotive Segment to Dominate the Market

  • Among applications, the automotive industry dominated the demand for composite metal finishes. Composite Metal finishing is one of the prominent methods used to provide a protective layer on the metal components of vehicles.
  • Composite Metal finishing is used in various vehicle parts, such as engines, other under-the-hood components, power steering systems, brake parts and systems, air conditioning components and systems, chassis hardware, climate control components, and fuel systems.
  • Composite Metal finishing also includes the application of paints or ceramics. Numerous small and large parts of the automobile require their contact surfaces to be smooth, stress relieved, and without burrs or defects. This enables the automotive engines to achieve a surface with less friction and heat, leading to the generation of more horsepower and overall better performance.
  • The market, however, has the potential for growth in the long term with the emergence of more technologically developed cars. If such a thing happens, the market for composite metal finishing will benefit from it.

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the market. The increasing investments and production in the automotive industry, rising electrical and electronics production, and surging demand for heavy equipment, with multinational companies investing in the industrial sector, are some of the major factors driving the demand for metal finishing in the region.
  • China is the largest manufacturer of automobiles in the world. The automotive sector in China has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and minimize emissions, owing to the increasing environmental concerns due to mounting pollution in the country.
  • The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
  • Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China’s geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
  • With the rising growing demand from various end-user industries in the region, the market for composite metal finishing is expected to grow during the forecast period.

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Competitive Landscape

The composite metal finishing market is partially consolidated in nature. Key players in the market include UYEMURA, DuPont, Incertec, and ENDURA COATINGS, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Popularity of Electroless Nickel Composite Coatings

      2. 4.1.2 Substitution of Chrome (VI) Plating in Specific Applications

    2. 4.2 Restraints

      1. 4.2.1 Increasing Replacement of Metal by Plastics

      2. 4.2.2 Premium Costing of Products

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Process

      1. 5.1.1 Electroplating

      2. 5.1.2 Electroless Composite Plating

    2. 5.2 Filler Used

      1. 5.2.1 Diamond

      2. 5.2.2 Boron Nitride

      3. 5.2.3 Silicon Carbide

      4. 5.2.4 Polytetrafluoroethylene (PTFE)

      5. 5.2.5 Others

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive

      2. 5.3.2 Electronics

      3. 5.3.3 Aerospace

      4. 5.3.4 Oil and Gas

      5. 5.3.5 Heavy Equipment

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Atotech

      2. 6.4.2 Classic Plating, Inc.

      3. 6.4.3 COVENTYA International

      4. 6.4.4 DuPont

      5. 6.4.5 ENDURA COATINGS

      6. 6.4.6 Honeywell International Inc.

      7. 6.4.7 Incertec

      8. 6.4.8 KC Jones Plating Company

      9. 6.4.9 MacDermid, Inc.

      10. 6.4.10 Pioneer Metal Finishing

      11. 6.4.11 Surface Technology, Inc.

      12. 6.4.12 UYEMURA

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Trivalent Chromium Hard Chrome Plating Process

** Subject to Availability

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