Metal Plating and Finishing Market
Metal plating and finishing is an important process in fabrication for enhancing the longevity of components. The process involves adding a thin layer of metal coating and a smooth finish. This can bring down production costs and ups the profit margins by a considerable degree. Market Research Future (MRFR) has outlined several factors and threats to be faced by leaders in the global metal plating finishing market for the period between 2020 and 2027 (forecast period).
Competitive Outlook
Anoplate Corporation, Pioneer Metal Finishing, CECO Environmental Corporation, Atotech, SPC, Nassau Chromium Plating Co., American Plating Company, Platform Specialty Products Corporation, Dixie Industrial Finishing, Lincoln Industries, Incertec, Arlington Plating Company, Coastline Metal Finishing, DowDuPont, and Ctech Metal Finishing Inc. are prominent players of the global metal plating finishing market.
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Market Scope
The global metal plating and finishing market is anticipated to touch a compelling USD 11,490.7 million at a favorable 4.23% CAGR over the forecast period (2018-2023). High demand for wear-resistant and durable parts can drive the market growth. Applications in end-user industries of automotive, medical, aerospace, electrical and electronics can further the market demand. In addition, features of UV radiation resistance, high temperature, and corrosion resistance can bode well for the market.
The construction industry can play a vital role in driving the global metal plating and finishing market due to the various infrastructural projects. Manufacture of car parts such as piston rings, engine valves, cylinders, gears, engine parts, shock absorbers, and car door handles in the automotive industry can trigger the demand for the service. On the contrary, the plastic industry is likely to hamper the growth of the metal plating and finishing market by offering alternative parts and components at cheaper rates.
Segmentation
Based on type, the metal plating and finishing market is segmented by finishing protection, metal plating, cleaning surface preparation, and others. On the basis of material, the metal plating and finishing market includes gold, tin, zinc, nickel, bronze, and others. By process, the metal plating and finishing market is bifurcated into electroplating and electroless plating. Applications in the market include medical components, automotive components, machine components, aircraft components, and others.
By type, metal plating is expected to have the largest market share and eyeing to touch USD 5,143 million over 2023. The remaining segments however are anticipated to touch 5.27% CAGR over the forecast period.
Based on material, the metal plating and finishing market is segmented into tin, bronze, gold, nickel, zinc and others. Zinc will have the upper hand among materials and expects to touch USD 4,508.2 million by 2023. The ‘others’ segment can provide a stellar 5.20% CAGR over the forecast period.
Based on process, it is segmented into electroless plating and electroplating. Of these, the electroplating segment to grab the largest market share. It is expected to touch USD 6,589.9 million over 2023. It can capture a huge chunk of the demand share due to being an economic alternative to electroless plating. The electroless plating segment, on the other hand, is expected to grow at 4.72% CAGR over the forecast period.
Based on application, the metal plating and finishing market is segmented into medical components, aircraft components, machine components, automotive components and others. Of these, the automotive components will lead the market and is expected to surpass USD 4,536.2 million over 2023. The remaining segments will grow at 5.72% CAGR over the forecast period.
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