Metal Finishing Market - Forecast(2024 - 2030)

Report Code: CMR 57102 Report Format: PDF + Excel

Metal Finishing Market Overview

The metal finishing market size is forecast to reach US$110.3 billion by 2027 after growing at a CAGR of 5.8% during 2022-2027. Metal finishing refers to the process of placing some type of metal coating onto a substrate to enhance corrosion protection, wear resistance, durability and add aesthetic qualities. Metal finishing is used in a wide array of industries. The automobile sector is one of the largest markets for metal finishing. This process is used for coating several auto components such as power steering systems, under the hood components, engines, and many other parts for providing the much-needed scratch resistance and enhancing their appearance. The automobile industry is booming globally with increasing production and sales and in turn, this is expected to drive the market’s growth during the forecast period. According to the July 2021 stats by the European Automobile Manufacturers Association, passenger car registrations jumped by 25.2% in the first half of 2021 in the European region. Furthermore, metal finishing finds its high uses in the electrical and electronics industry. This process is utilized in the manufacturing of various electrical parts such as semiconductors, contacts, circuits, connectors, among others to enhance electrical conductivity, wear-resistance and increase the solderability of the substrate. These electrical parts are integral components of several high-end electronic products. The demand for electronic products like televisions, smartphones, PCs, tablets, printer, microwave ovens, and refrigerators are increasing globally, increasing the demand for semiconductors, contacts, circuits, and connectors, and this is anticipated to propel the growth of the metal finishing market in the forecast period. For instance, as per the January 2022 report by China.org.cn, the revenue of China’s home appliance market touched USD 95.3 billion in the first ten months of 2021, increasing 7.1% compared to the same period in 2020. The electroplating process is projected to witness the highest demand during the forecast period. Abrasive blasting and powder coating will witness significant demand during the forecast period. The strict environmental regulations regarding the metal finishing process might hamper the market’s growth during the forecast period.

COVID-19 Impact

The metal finishing market was badly hit due to the COVID-19 pandemic as disturbances in the form of disruption in the supply chain, procurement of raw material, and shutdown of factories surfaced in the market. Market players incorporated new work strategies to withstand the unprecedented circumstances amid the pandemic. As per the first quarter 2020 results report by OC Oerlikon Management AG, the companies surface solutions segment performance was badly impacted due to the pandemic. The market experienced decent growth towards the end of 2020 with the increase in some end-use industries. Going forward, the metal finishing market is projected to witness significant demand due to the massive growth in end-use industries such as the automobile and electrical & electronics industries.

Metal Finishing Market Report Coverage 

The report: Metal Finishing Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Metal Finishing Industry.

By Process: Electroplating, Electroless Plating, Passivation, Cladding, Case Hardening, Hot Blackening, Powder Coating, Abrasive Blasting, Electropolishing, Others.
By End Use Industry: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Jewellery, Healthcare, Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Electrical and Electronics, Aerospace and Defense, Oil and Refinery, Construction, Industrial, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa). 

Key Takeaways: 

  • The electroplating process dominated the metal finishing market in 2021. This process offers efficient corrosion resistance, and improves electrical conductivity, making it a suitable choice in the market.
  •  The electrical and electronics industry is expected to drive the market’s growth during the forecast period. For instance, as per the data by India Brand Equity Foundation, 5G smartphones shipment crossed 4 million units in 2020 due to higher consumer demand post-lockdown.
  • The Asia-Pacific region will witness the highest demand for metal finishing during the forecast period owing to the booming automobile sector in the region. For instance, according to the stats by India Brand Equity Foundation, the passenger vehicle segment had a growth of 28.39% as sales touched 279,745 units in March 2021 which was 2,17,879 units in March 2020. 

Figure: Asia Pacific Metal Finishing Market Revenue, 2021-2027 (US$ Billion)

Metal Finishing Market Revenue

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Metal Finishing Market - By Process 

The electroplating process dominated the metal finishing market in 2021. This is one of the most popular metal finishing processes, used widely in a wide range of industries. Electroplating helps in enhancing corrosion resistance, improving wear resistance, and changing the aesthetic of an object. Accordingly, market players and research organizations are involved in the higher uses of this process for metal finishing. For instance, as per the March 2021 journal by SPECTA Journal of Technology, electroplating is one of the processes used for slowing down the corrosion initiation time with nickel being one of the most popular metals used for electroplating. Such high use of the electroplating metal finishing process is expected to increase its demand during the forecast period. 

Metal Finishing Market - By End Use Industry 

The automobile industry dominated the metal finishing market in 2021 and is growing at a CAGR of 6.2% during the forecast period. Metal finishing processes such as powder coating and electroplating are extensively utilized in the automobile industry to provide a protective layer on several metal and non-metallic parts of automobiles such as power steering systems, air conditioning components, chassis hardware, engines, and many other applications. The automobile industry is displaying enormous growth due to the increasing production and sales of automobiles and this, in turn, is expected to drive the market’s growth during the forecast period. For instance, as per the June 2021 stats by European Automobile Manufacturers Association, registrations in the European Union’s passenger car segment in May 2021 jumped by 53.4% compared to the registrations in May 2020. Similarly, according to the report by the China Association of Automobile Manufacturers, the annual sales volume of anew energy vehicles in China will reach 3 million units by 2025 which was 1.2 million units in 2019. Such a growing automobile industry globally is expected to increase the higher uses of metal finishing, driving the growth of the market during the forecast period. 

Metal Finishing Market - By Geography 

The Asia-Pacific region held the largest market share in the metal finishing market in 2021, up to 32%. The high demand for metal finishing is attributed to the booming automobile industry in the region. Metal finishing processes such as electroplating and powder coating are used to provide protection to multiple automobile components against premature wear and corrosion. The automobile industry is on a progressive track in the region with high production and sales of vehicles and this is anticipated to increase the demand for metal finishing during the forecast period. For instance, according to the data by India Brand Equity Foundation, Foreign Direct Investment received by India between April 2000 to March 2021 for the automotive development sector stood at US$ 25.85 billion. Similarly, as per the stats by the China Association of Automobile Manufacturers, in September 2021, the production of commercial vehicles in China reached 310000 units, increasing 35.5% month on month. Such massive growth in the region’s automobile sector is expected to increase the demand for metal finishing during the forecast period. 

Metal Finishing Market Drivers

Expanding electrical and electronics sector will drive the market’s growth 

Metal finishing is an important process in the manufacturing of various electrical and electronic components such as semiconductors, connectors, and printed circuit boards (PCBs). This process is utilized to limit the impact of corrosion, enhance electrical conductivity, provide wear resistance, and increase the solderability of the substrate. Electrical components like semiconductors, PCBs, contacts, and connectors are vital elements of several electronic products that include smartphones, laptops, tablets, microwaves, refrigerators, and many other products. The demand for electronic products is expanding globally and in turn, this is expected to drive the market’s growth during the forecast period. For instance, according to the October 2020 stats by Consumer Technology Association, smartphone sales will surge in 2022 and 76% of all smartphones will have 5G capabilities. Similarly, according to the Global Electric Market Outlook 2022 report by the German Electro and Digital Industry Association, the South Korean electronic market reached a volume of USD 218.01 billion in 2020, picking up by 4%. Such an increase in demand for electronic products globally is projected to increase the higher uses of metal finishing and this is anticipated to drive the market’s growth in the forecast period.

Booming automobile sector will drive the market’s growth 

The automobile sector is one of the most important markets for metal finishing where various processes such as electroplating and powder coating are used for coating and offering corrosion resistance to several metal and non-metallic parts of vehicles. The demand for automobiles is increasing and in turn, this is expected to drive the market’s growth during the forecast period. For instance, according to the European Automobile Manufacturers Association’s report, hybrid electric vehicles accounted for 11.9% of total cars sold in 2020 compared to the 5.7% in 2019. Similarly, according to data by India Brand Equity Foundation, India became the fifth-largest automobile market in 2020 with 3.49 million units of vehicles sold combinedly in the passenger and commercial vehicles segment. Such growth in the automobile sector globally is expected to increase the higher uses of metal finish and this is projected to drive the market’s growth during the forecast period. 

Metal Finishing Market Challenges 

Strict regulations regarding the metal finishing process might hamper the market’s growth

The metal finishing process is associated with the release of hazardous waste into the environment which is a key challenge and this might hamper the market’s growth during the forecast period. Various governing bodies globally strictly monitor the uses of the metal finishing process. For instance, the Environmental Protection Agency of the US closely monitors the discharge of wastewater coming out from plants operating multiple metal finishing processes as these wastes are hazardous to the environment. Such regulations regarding metal the finishing process might hamper the market’s growth during the forecast period. 

Metal Finishing Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the market. Major players in the metal finishing market include:

  1. OC Oerlikon Management AG
  2. Atotech
  3. Linde PLC
  4. C.Uyemura & Co. Ltd
  5. Honeywell International Inc.
  6. Grind Master
  7. Guyson Corporation
  8. A.E. Aubin Company
  9. Plating Equipment Ltd
  10.  Others 

Recent Developments

  • In August 2019, UK-based Atotech announced the acquisition of J-KEM International, a Sweden-based company that deals with metal finishing. This acquisition enabled Atotech to expand addressable markets and contribute to the company’s future growth.

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1. Metal Finishing Market - Market Overview
    1.1 Definitions and Scope
2. Metal Finishing Market - Executive Summary
    2.1 Key Trends by Process
    2.2 Key Trends by End Use Industry
    2.3 Key Trends by Geography
3. Metal Finishing Market - Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Metal Finishing Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Metal Finishing Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Metal Finishing Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Metal Finishing Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Metal Finishing Market – By Process (Market Size -US$ Million, Billion)
    8.1 Electroplating
    8.2 Electroless Plating
    8.3 Passivation
    8.4 Cladding
    8.5 Case Hardening
    8.6 Hot Blackening
    8.7 Powder Coating
    8.8 Abrasive Blasting
    8.9 Electropolishing
    8.10 Others
9. Metal Finishing Market – By End Use Industry (Market Size -US$ Million, Billion)
    9.1 Automotive
        9.1.1 Passenger Vehicle
        9.1.2 Commercial Vehicle
            9.1.2.1 Light Commercial Vehicle
            9.1.2.2 Heavy Commercial Vehicle
    9.2 Jewellery
    9.3 Healthcare
        9.3.1 Hospitals
        9.3.2 Long Term Care Facilities
        9.3.3 Clinics and Diagnostic Centers
        9.3.4 Others
    9.4 Electrical and Electronics
    9.5 Aerospace and Defense
    9.6 Oil and Refinery
    9.7 Construction
    9.8 Industrial
    9.9 Others
10. Metal Finishing Market - By Geography (Market Size -US$ Million / Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of Asia Pacific
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 ROW
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Metal Finishing Market -Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Metal Finishing Market - Industry/Segment Competition Landscape Premium
    12.1 Company Benchmarking Matrix- Major Companies
    12.2 Market Share at Global Level- Major companies
    12.3 Market Share by Key Region- Major companies
    12.4 Market Share by Key Country- Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category- Major companies
13. Metal Finishing Market - Key Company List by Country Premium Premium 
14. Metal Finishing Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global MARKET SEGMENTATION Market 2023-2030 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
2.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2023-2030 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2023-2030 (Volume/Units)
4.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2023-2030 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2023-2030 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2023-2030 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
10.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2023-2030 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
12.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2023-2030 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
14.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Metal Finishing Market Revenue, 2023-2030 ($M)
2.Canada Metal Finishing Market Revenue, 2023-2030 ($M)
3.Mexico Metal Finishing Market Revenue, 2023-2030 ($M)
4.Brazil Metal Finishing Market Revenue, 2023-2030 ($M)
5.Argentina Metal Finishing Market Revenue, 2023-2030 ($M)
6.Peru Metal Finishing Market Revenue, 2023-2030 ($M)
7.Colombia Metal Finishing Market Revenue, 2023-2030 ($M)
8.Chile Metal Finishing Market Revenue, 2023-2030 ($M)
9.Rest of South America Metal Finishing Market Revenue, 2023-2030 ($M)
10.UK Metal Finishing Market Revenue, 2023-2030 ($M)
11.Germany Metal Finishing Market Revenue, 2023-2030 ($M)
12.France Metal Finishing Market Revenue, 2023-2030 ($M)
13.Italy Metal Finishing Market Revenue, 2023-2030 ($M)
14.Spain Metal Finishing Market Revenue, 2023-2030 ($M)
15.Rest of Europe Metal Finishing Market Revenue, 2023-2030 ($M)
16.China Metal Finishing Market Revenue, 2023-2030 ($M)
17.India Metal Finishing Market Revenue, 2023-2030 ($M)
18.Japan Metal Finishing Market Revenue, 2023-2030 ($M)
19.South Korea Metal Finishing Market Revenue, 2023-2030 ($M)
20.South Africa Metal Finishing Market Revenue, 2023-2030 ($M)
21.North America Metal Finishing By Application
22.South America Metal Finishing By Application
23.Europe Metal Finishing By Application
24.APAC Metal Finishing By Application
25.MENA Metal Finishing By Application