The market was valued at USD 1.5 billion in 2015, and is estimated to reach USD 2.16 billion by 2020, growing at a CAGR of 7.54%. We expect, Asia-Pacific will hold major share in the market followed by North America and Europe.
Composite Metal Finishing, is mixture of inorganic and organic metal finishing techniques. The prime advantage of this metal finishing technique is that it enhances the functional properties such as corrosion resistance, wear resistance, and tensile strength. This type of coating is applied by spraying the mixture over base metal.
In terms of technology, electroless plating dominated the market in 2015, as it helps in saving electricity, ensures flexibility in plating thickness, and aids in coating blind holes. In terms of fillers used in the metal finishing process, boron nitride and PTFE dominated the market in terms of volume.
The growing popularity of the electroless nickel composite coating is one of the major driver boosting the growth of the market. The technique offers various advantages such as cost and energy savings, automatic monitoring of chemical replenishment, semi-bright, matte, and bright finishing can be attained, and aids in plating blind holes with stable thickness.
In terms of geography, Asia-Pacific dominated the market in 2015, followed by North America. Some of the major players dominating the market are namely, Abakan Inc., Honeywell International Inc., Surface Technology, and Micro Plating Inc.
What the Report Contains
The report elucidates the situation of Composite Metal Finishing around the world and studies the markets of the filler used, which include Diamond, Boron Nitride, PTFE, and Silicon Carbide. Additionally, the market also studies the types of process, which include electroplating and electroless plating.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years.