|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The metal finishing market was estimated at USD 90,973 million in 2021, and the market 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 the year 2021, and is expected to grow at a steady rate.
- 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, is 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.
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, aerospace, heavy equipment, 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).
|Organic Metal Finishing|
|Hybrid Metal Finishing|
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.
- According to OICA, in 2021, a total of 80.145 million vehicles were produced, which is up by 3% from the previous year.
- The market, however, 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
- 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 country produced 26.08 million units of vehicles in 2021, observing a growth of about 3% in comparison to the previous year.
- 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, Asia-Pacific is expected to dominate the global market.
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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 (in no particular order) studied are OC Oerlikon Management AG, Atotech, Linde PLC, C.Uyemura & CO. LTD, and Honeywell International Inc.
- In Dec 2021 POSCO is accelerating its commercialization of lithium hydroxide by establishing a lithium extraction plant near a salt lake in Argentina which will have an annual production capacity of 25,000 tons. POSCO is also considering investing in the expansion of the facility to add an additional 25,000 tons.
- In Dec 2021, General Motors and POSCO Chemical today announced plans to form a joint venture through which the parties will construct a factory in North America to process critical battery materials for GM's Ultium electric vehicle platform.
- In Nov 2021 DuPont announced the Acquisition of Rogers Corporation, Rogers will be integrated into DuPont’s Electronics & Industrial business unit.
- In Nov 2021 Precoat metals a division of Sequa corporation is expanding its Granite City manufacturing site by 53,000 square feet to meet the higher demand for steel.
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 by 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
188.8.131.52 Electro Polishing
5.1.2 Organic Metal Finishing
5.1.3 Hybrid Metal Finishing
5.2.5 Heavy Equipment
5.2.8 Other Applications
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 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
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Frequently Asked Questions
What is the study period of this market?
The Metal Finishing Market market is studied from 2017 - 2027.
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 2021- 2026.
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.