North America Metal Finishing Market - Growth, Trends, and Forecast (2020 - 2025)
The 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 (United States, Canada, Mexico, and Rest of North America)
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Scope of the report
Key Market Trends
TABLE OF CONTENTS
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The North America metal finishing market is estimated to witness a significant growth, at an estimated CAGR of over 6%, over the forecast period. Increasing requirement for durable, wear-resistant, and long-lasting metal products are expected to drive the market during the forecast period.
Environmental restrictions on some chemicals and increasing replacement of metal by plastics are likely to hinder the market’s growth.
Shift from traditional solvent-borne technologies to newer technologies are likely to create opportunities for the market growth in the coming years.
United States is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
Scope of the report
The North America metal finishing market report includes:
Inorganic Metal Finishing
Consumables and Spares
Electro Less Plating
Organic Metal Finishing
Hybrid Metal Finishing
Rest of North America
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Key Market Trends
Automotive Segment to Dominate the Market
Coatings are applied to various automotive components, majorly to provide aesthetics, corrosion resistance, wear resistance, and lubricity and smooth finish. They also increase the life span or durability of the metal component.
Metal finishing is one of the prominent methods to provide a protective layer on metal automotive components; it involves applying one or more thin coats of a metal, such as gold, copper, silver, chromium or nickel, to a substrate.
Automobile manufacturers are always in search of better technologies to protect their products from the relentless forces of corrosion. Vehicles are constantly exposed to the moisture from rain and snow, which can cause the premature demise of metal car parts. Metal finishing comprises the application of a metal coating via inorganic metal finishing, such as electroplating. This prevents automobiles from both red and white rust from reaching the underlying metal surface.
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 generation of more horsepower and an overall better performance.
The market, however, has potential for growth in the long term with the emergence of more technologically developed cars. If such a thing happens, the market for metal finishing will benefit from it.
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United States to Dominate the Market
In the North America region, United States dominated the metal finishing market. United States is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year due to the existing fleet getting older. Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
Various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico. This factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of metal finishing in the automotive industry through the forecast period.
The growth in the United States residential sector is slower than the growth in the non-residential sector. The growing population is expected to boost the demand for housing in the country. Furthermore, about 20 million households are projected to be constructed over the next decade. The United States commercial construction sector is expected to witness a higher growth rate, in the next few years.
With the rising growing demand from various end-user industries, the market for metal finishing is expected to grow during the forecast period.
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The North America metal finishing market is fragmented as the top five players in the market contributed less share. Key players in the market include C. Uyemura & Co. Ltd, Honeywell International Inc., Linde plc, OC Oerlikon Management AG, and Sequa (The Carlyle Group), among others.