Metal Finishing Market - Segmented by Type, Application and Geography - Trends and Forecasts (2014-2020)
LONDON, Sept. 21, 2015 /PRNewswire/ --The Global metal finishing market is growing at a CAGR of 6.50% during the period 2014-2020. Among all the segments in the market the inorganic metal finishing market dominates the rest in terms of both market share and volume. Due to the increasing demand from end user industries such as Automotive, Electronics, Aerospace the global market for inorganic metal finishing technologies was worth $64.2 billion in 2014 and is expected to reach $95.8 billion with a CAGR of 6.91% by the end of 2020. Among the inorganic metal finishing technologies inorganic metal finishing processes have the largest share of market worth $42.1 billion in 2014. Surface preparation/pretreatment has the second largest market share worth$15.4 billion in 2014. Among all the regions Asia Pacific has the highest market share owing to a lot of developing countries in that which leads the growth of automobile, steel industries in that region.
Metal finishing is a surface process of applying a thin layer of another metal, alloy or polymer film. It includes three major processes namely surface pretreatment, surface preparation and the actual coating process. The coating process is categorized basing on which type of element is present in the final coating process either organic, inorganic or hybrid. Due to corrosion and wear of metals it reduces its lifespan. Hence metal finishing is done to improve the life of metals thereby also improving the bonding, electric, shaping and aesthetic properties of it. Metal finishing job may include paints, ceramic coatings, lacquer and other surface treatments. The factors which affect the nature of deposit on the metal surface include current density, metal ion concentration, electrolyte concentration, plating bath solution and temperature.
Metal finishing market is segmented based by type which include inorganic metal finishing market which is sub classified into Inorganic metal finishing process, Pretreatment/Surface preparation, Consumables and spares, Electroplating, Galvanizing, Electro less plating, Conversion coatings, Anodizing, Cladding Electro polishing. Organic finishing market and Hybrid finishing market are the remaining two classifications which come under the type of Metal finishing market. The market is also segmented by application which include appliances, automotive, hardware, jewelry, aerospace, heavy equipment, tires, electronics, telecommunication and others.
There has been a significant consolidation via merger and acquisition of participants at all levels of the value chain. On May 15, 2015 Chemetall which is a global business unit of Albemarle Corporation has announced that it has acquired the Chemal GmbH and Co.KG in Hamm, Germany. The company was founded in 1975 and specializes in research and development of surface finishing chemicals for aluminum and its alloys with emphasis on anodizing and pretreatment technologies. Among the others the Carlyle group has taken over DuPont performance coatings and Superior metal finishing of Portland was bought by Pioneer metal finishing of Green Bay.
Some of the key players in the Metal finishing market include Abakan Inc., Metal finishing technologies LLC, Sequa Corporation, TIB Chemicals AG, Elementis plc, Rockwood holdings Inc., Vanchem Performance Chemicals, Atotech Deutschland GmbH, Honeywell International Inc., Industrial Metal Finishing, Joshi Metal finishing industry, JMD industry, Delstar Metal Finishing Inc., Sifco Metal Industries, Mass finishing Inc., Plating Equipment ltd, Dalmar Plating and electroforming, Servi Sure Corp, L.S industries, Technic Inc.
DRIVERS:
Growth is largely fueled by increasing applications, technological advancements, and growing demand in the developing countries in Asia Pacific such as China, India due to the large setup of automotive, electronics, aerospace industries. A high demand for Metal finishing also rises due to the constant need of durable metals in metal industry which lasts long without corrosion, wear and tear and also serves the aesthetic purpose.
RESTRAINTS:
The constant push from regulatory authorities such as EPA (Environmental Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) will lessen the use Metal finishing products in order to reduce the impact on the environment since Volatile Organic Compounds (VOC) used in solvents are carcinogenic. Also chemical elements like chromium, Cyanide, cadmium and chlorinated solvents are toxic to health and these flows into the nearby lakes, oceans and water bodies thereby contaminating the environment. Apart from this Economic cycles in any end-user industry affect the demand pattern for Metal finishing market. It may result in high demand for Metal finishing products in one industry and relatively weak demand in another industry, based on the phase of the economic cycle of that industry.
What the report offers?
1) Market Definition for the Metal finishing market along with identification of key drivers and restraints for the market.
2) Market analysis for the Metal finishing market with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the Metal finishing market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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