Metal Finishing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Metal Finishing Market is segmented by Type (Inorganic Metal Finishing, Organic Metal Finishing, and Hybrid Metal Finishing), Application (Automotive, Appliances, Hardware, Jewelry, Aerospace, Heavy Equipment, Medical Devices, Electronics, Construction, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Metal Finishing Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The metal finishing market was estimated at USD 95,213.42 million in 2020, and the market is projected to register a CAGR of over 4% during the forecast period.

The market was negatively impacted by COVID-19. The COVID-19 pandemic had an adverse effect on the global economy, which includes the disruption of the supply chain. The supply of many components from China was delayed, which resulted in major end-user industries, globally, running out of materials for production. The supply chain is opening again now, but it is taking some time to fill due to the shortages of many market items. The lead times doubled, and that shortage is compounded by the shortage of air and ocean freight options to move products to and from manufacturing countries. China’s dominant role as the raw material supplier means that any major disruption puts global supply chains at risk. However, the condition is expected to recover in the year 2021.

  • Over the short term, increasing demand for durable, wear-resistant, and long-lasting metal products is driving the market's growth.
  • On the flip side, environmental restrictions on some metal finishing chemicals, increasing replacement of metal by plastics, and the impact of COVID-19 are somehow going to hinder the market growth.
  • By type, the inorganic metal finishing segment dominated the market, and it is expected to grow during the forecast period. Among various inorganic metal finishing types, pretreatment/surface preparation is expected to witness the highest growth during the forecast period.
  • The shift from traditional solvent-borne technologies to newer technologies is likely to provide opportunities for the market during the forecast period.
  • Asia-Pacific dominated the global market, with robust demand from end-user industries, such as automotive, construction, electronics, and hardware.

Scope of the Report

Metal finishing is a term used to describe the process of placing some type of metal coating on the surface of a metallic part, typically referred to as a substrate. It can also involve the implementation of a process for cleaning, polishing, or otherwise improving a surface. Metal finishing is a process of changing the surface of the object in order to improve its appearance and durability. The metal finishing market is segmented by type, application, and geography. By types, the market is segmented by inorganic metal finishing, organic metal finishing, and hybrid metal finishing. By application, the market is segmented by automotive, appliances, hardware, jewelry, aerospace, heavy equipment, medical devices, electronics, construction, and other applications. The report also covers the market size and forecasts for the metal finishing market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

Type
Inorganic Metal Finishing
Cladding
Pretreatment/Surface Preparation
Consumables and Spares
Electroplating
Galvanization
Electro Less Plating
Conversion Coatings
Thermal Spray Powder Coating
Anodizing
Electro Polishing
Organic Metal Finishing
Hybrid Metal Finishing
Application
Automotive
Appliances
Hardware
Jewellery
Aerospace
Heavy Equipment
Medical Devices
Electronics
Construction
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
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 metal finishes. Metal finishing is one of the prominent methods used to provide a protective layer on the metal components of vehicles.
  • 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.
  • 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.
  • However, after an encouraging term of growth in the automotive sector during the past decade, the momentum has slowed down over the recent years. Sales of new vehicles are going down in various parts of the world, including Europe and the United States. This has affected the previously growing automotive production in most countries, thereby affecting the metal finishing market, which finds major application in the automotive industry. According to OICA, in 2019, a total of 91.79 million vehicles were produced, which is down by 5.2% from the previous year.
  • The COVID -19 has further aggravated this decline in 2020. In the first three quarters of 2020 (Upto October), the global passenger vehicle production declined by more than 24.2% compared to the same period in 2019. In the first 9 months, the production declined from 4,87,61,096 units in 2019 to reach about 3,69,63,361 in 2020.
  • The market, however, has the potential for growth in the long term with the emergence of more technologically developed cars.
Metal Finishing Market Revenue Share

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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.
  • However, in 2018, the country witnessed about a 4.16% decline in the production of vehicles, accounting for 27,809,196 units of motor vehicles. The performance of the automotive industry was affected by the economic shifts and China's trade war with the United States. This trend sustained during 2019 as well, as the domestic automotive production and sales declined by 7.5% and 8.2%, respectively. In 2020, the number of passenger cars produced from January to September is down by 6.7% year-on-year compared to the same period last year, while the commercial vehicle production increased by 21.5%.
  • At the beginning of the COVID-19 pandemic, construction work had stopped across China. However, by the end of March, construction work resumed on 90% of the 11,000 key projects, according to reports by the National Development and Reform Commission (NDRC).
  • The Japanese metal finishing market is primarily driven by the increased usage in the aerospace sector, which increased significantly in the last few years due to the advancements in technology and R&D supported by the government.
  • The Japanese aerospace industry manufactures aircraft components for commercial and defense aircraft. The production of commercial aircraft has been increasing over the past couple of years, owing to the increasing cargo demands.
  • Japan focuses on manufacturing the F-35A next-generation fighter jet and other military aircraft, as well as strengthening the foundation of aerospace manufacturing in the country.
  • Hence, all such favorable trends and investments in the region are expected to drive the demand for the metal finishing market during the forecast period.
Metal Finishing Market Growth Rate By Region

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Competitive Landscape

The metal finishing market is highly fragmented, as the top players in the market contribute a low share to the market studied. The top five players of the market studied are OC Oerlikon Management AG, Atotech, Linde PLC, C.Uyemura & CO. LTD, and Honeywell International Inc.

Recent Developments

  • In August 2020, the Ministry of Steel in India had asked RINL (Rashtriya Ispat Nigam Limited) and South Korean player POSCO to form a joint working group to administer the plans of setting a green-field project in Andhra Pradesh.
  • In August 2019, Atotech acquired Sweden-based J-KEM International, which is a global supplier of high-quality chemical products and processes for the printed circuit board and general metal finishing industries. This acquisition is likely to strengthen the company's product portfolio.

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 Increasing Automotive Production in Africa

      2. 4.1.2 Increasing Requirement for Durable, Wear-resistant, and Long-lasting Metal Products

    2. 4.2 Restraints

      1. 4.2.1 Environmental Restrictions on Some Chemicals

      2. 4.2.2 Increasing Replacement of Metal by Plastics

      3. 4.2.3 Impact of COVID-19

    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 (Market Size by Value)

    1. 5.1 Type

      1. 5.1.1 Inorganic Metal Finishing

        1. 5.1.1.1 Cladding

        2. 5.1.1.2 Pretreatment/Surface Preparation

        3. 5.1.1.3 Consumables and Spares

        4. 5.1.1.4 Electroplating

        5. 5.1.1.5 Galvanization

        6. 5.1.1.6 Electro Less Plating

        7. 5.1.1.7 Conversion Coatings

        8. 5.1.1.8 Thermal Spray Powder Coating

        9. 5.1.1.9 Anodizing

        10. 5.1.1.10 Electro Polishing

      2. 5.1.2 Organic Metal Finishing

      3. 5.1.3 Hybrid Metal Finishing

    2. 5.2 Application

      1. 5.2.1 Automotive

      2. 5.2.2 Appliances

      3. 5.2.3 Hardware

      4. 5.2.4 Jewellery

      5. 5.2.5 Aerospace

      6. 5.2.6 Heavy Equipment

      7. 5.2.7 Medical Devices

      8. 5.2.8 Electronics

      9. 5.2.9 Construction

      10. 5.2.10 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 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 Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 A.E. Aubin Company

      2. 6.4.2 ALMCO

      3. 6.4.3 Altotech

      4. 6.4.4 Auromex Co. Ltd

      5. 6.4.5 Coral

      6. 6.4.6 C.Uyemura & Co. Ltd

      7. 6.4.7 DuPont

      8. 6.4.8 Guyson Corporation

      9. 6.4.9 Honeywell International Inc.

      10. 6.4.10 Linde PLC

      11. 6.4.11 OC Oerlikon Management AG

      12. 6.4.12 OTEC Precision Finish Inc.

      13. 6.4.13 Plating Equipment Ltd

      14. 6.4.14 POSCO

      15. 6.4.15 Sequa

      16. 6.4.16 TIB Chemicals AG

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

    1. 7.1 Shift from Traditional Solvent-borne Technologies to Newer Technologies

**Subject to Availability

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Frequently Asked Questions

The Metal Finishing Market market is studied from 2016 - 2026.

The Metal Finishing Market is growing at a CAGR of >4% over the next 5 years.

The Metal Finishing Market is valued at 95213 Million USD in 2016.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

OC Oerlikon Management AG, Honeywell International Inc., C.Uyemura & Co. Ltd, Atotech, Linde PLC are the major companies operating in Metal Finishing Market.

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