Metal Finishing Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
|CAGR:||> 4 %|
*Disclaimer: Major Players sorted in no particular order
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Metal Finishing Market Analysis
- The metal finishing market was valued at USD 90,973 million in 2021. It is projected to register a CAGR of over 4% during the forecast period (2022-2027).
- The market was negatively impacted by COVID-19. However, the market recovered in 2021 and is expected to grow at a steady rate.
- Over the short term, the increasing demand for durable, wear-resistant, and long-lasting metal products may drive the market's growth.
- On the other hand, the environmental restrictions on some metal finishing chemicals and the increasing replacement of metal with plastics are expected to hinder the market growth.
- 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.
Metal Finishing Industry Segments
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 the 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 type, the market is segmented into inorganic metal finishing, organic metal finishing, and hybrid metal finishing. By application, the market is segmented into automotive, appliances, hardware, aerospace, heavy equipment, electronics, construction, and other applications. The report also studies 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).
|Organic Metal Finishing|
|Hybrid Metal Finishing|
Metal Finishing Market Trends
This section covers the major market trends shaping the Metal Finishing Market according to our research experts:
Automotive Segment to Dominate the Market
- The automotive industry dominated the demand for metal finishes. Metal finishing is one of the most common methods used to provide a protective layer on the metal components of vehicles.
- Metal finishing is used in 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. Many 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.
- According to OICA, in 2021, a total of 80.145 million vehicles were produced, increasing by 3% from the previous year.
- The metal finishing market has the potential for growth in the long term with the emergence of more technologically developed cars.
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Asia-Pacific Region to Dominate the Market
- In the Asia-Pacific region, the increasing investments and production in the automotive industry, rising production of electricals and electronics, and surging demand for heavy equipment are some of the major factors driving the market for metal finishing. Multinational companies drive the industrial sector in this region.
- China is the largest manufacturer of automobiles in the world. The automotive sector in China focuses on product evolution by manufacturing products to ensure fuel economy and minimize emissions, owing to the increasing environmental concerns and mounting pollution in the country.
- The country produced 26.08 million vehicles in 2021, observing a growth of about 3% compared to the previous year.
- Right after the outbreak of COVID-19, construction work stopped across China. However, by the end of March 2020, construction work resumed on 90% of the 11,000 key projects in the country, according to reports by the National Development and Reform Commission (NDRC).
- The Japanese metal finishing market is primarily driven by the increased usage of metal finishings in the aerospace sector due to technological advancements and R&D.
- The Japanese aerospace industry manufactures aircraft components for commercial and defense aircraft. Commercial aircraft production has been increasing over the past couple of years, owing to the increasing cargo demand.
- Japan currently manufactures the F-35A next-generation fighter jet and other military aircraft. It also strengthens the foundation of aerospace manufacturing in the country.
- Hence, with such favorable trends and investments in the region, Asia-Pacific is expected to dominate the global market.
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Metal Finishing Market Competitor Analysis
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 in the market (in no particular order) studied are OC Oerlikon Management AG, Atotech, Linde PLC, C.Uyemura & Co. Ltd, and Honeywell International Inc.
Metal Finishing Market Top Players
OC Oerlikon Management AG
Honeywell International Inc.
C.Uyemura & Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Metal Finishing Market Recent Developments
- In December 2021, POSCO accelerated its commercialization of lithium hydroxide by establishing a lithium extraction plant near a salt lake in Argentina. This plant has an annual production capacity of 25,000 tons. POSCO was also considering investing in the expansion of the facility and adding 25,000 tons.
- In December 2021, General Motors and POSCO Chemical announced plans to form a joint venture. Through this, the parties will construct a factory in North America to process critical battery materials for GM's Ultium electric vehicle platform.
- In November 2021, DuPont announced the Acquisition of Rogers Corporation. Rogers was integrated into DuPont’s Electronics & Industrial business unit.
- In November 2021, Precoat Metals, a division of Sequa Corporation, expanded its Granite City manufacturing site by 53,000 sq. ft to meet the high demand for steel.
Metal Finishing Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Automotive Production in Africa
4.1.2 Increasing Requirement for Durable, Wear-resistant, and Long-lasting Metal Products
4.2.1 Environmental Restrictions on Some Chemicals
4.2.2 Increasing Replacement of Metal with Plastics
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Value)
5.1.1 Inorganic Metal Finishing
184.108.40.206 Pretreatment/Surface Preparation
220.127.116.11 Consumables and Spares
18.104.22.168 Electro-less Plating
22.214.171.124 Conversion Coatings
126.96.36.199 Thermal Spray Powder Coating
5.1.2 Organic Metal Finishing
5.1.3 Hybrid Metal Finishing
5.2.5 Heavy Equipment
5.2.8 Other Applications
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 A. E. Aubin Company
6.4.4 Auromex Co. Ltd
6.4.5 Quaker Chemical Corporation
6.4.6 C.Uyemura & Co. Ltd
6.4.8 Guyson Corporation
6.4.9 Honeywell International Inc.
6.4.10 Linde PLC
6.4.11 OC Oerlikon Management AG
6.4.12 OTEC Precision Finish Inc.
6.4.13 Plating Equipment Ltd
6.4.16 TIB Chemicals AG
6.4.17 Grind Master
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Shift from Traditional Solvent-borne Technologies to Newer Technologies
Metal Finishing Market Research FAQs
What is the study period of this market?
The Metal Finishing Market is studied from 2018 - 2028.
What is the growth rate of Metal Finishing Market?
The Metal Finishing Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Metal Finishing Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Metal Finishing Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Metal Finishing Market?
OC Oerlikon Management AG, Honeywell International Inc., C.Uyemura & Co. Ltd, Atotech, Linde PLC are the major companies operating in Metal Finishing Market.
Metal Finishing Industry Reports
In-depth industry statistics and market share insights of the Metal Finishing sector for 2020, 2021, and 2022. The Metal Finishing research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Metal Finishing report PDF.