The North America metal finishing market size was valued at USD XX billion in 2022 and is expected to surpass USD XX billion by 2031, expanding at a CAGR of 5.6% during the forecast period, 2023–2031. Growth of the market is attributed to rising demand for strong, wear resistant, and durable metal products.
Metal processing is a general term used to describe the process of applying a certain type of metal coating to the surface of a metal part (usually called a substrate). It includes cleaning and polishing or some other process.
Surface modification metal processing typically includes electroplating, in which electric current is used to apply metal ions to the substrate. Metal finishing helps to reduce the wear and tear of steel products. It enables to enhance electric conductivity, resistance to torque, and growth solder ability of metals.
Metal Finishing Market Trends, Drivers, Restraints, and Opportunities
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Increasing investment and demand for heavy machinery in the industrial sector are expected to boost the market during the forecast period.
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Rapid growth of metal finishing industry due to increase in demand of technologically developed cars and growth of automotive industry are major factors fueling the market.
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Transition from traditional solvent-based technology to new technology is expected to drive the market during the forecast period.
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High maintenance cost of metal due to environmental effect and to prevent it from rusting is expected to hamper the market growth.
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Environmental restrictions on some chemicals and increasing replacement of metal by plastics act as major factors that can hamper the market growth during the forecast period.
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R&D investment and technological advancement in metal finishing for improving fuel efficiency and overall performance are expected to offer immense opportunities for the market players.
Scope of the Metal Finishing Market Report
The report on the North America metal finishing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Metal Finishing Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Inorganic Metal Finishing, Organic Metal Finishing, and Hybrid Metal Finishing), Applications (Automotive, Appliances, Hardware, Jewelry, Aerospace, Heavy Equipment, Medical Devices, Electronics, Construction, and Other Applications)
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Geographical scope
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United States, Canada, Mexico and Rest Of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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C. Uyemura & Co. Ltd, Honeywell international Inc., Linde PLC., and OC Oerlikon Management AG
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Metal Finishing Market Segment Insights
The inorganic metal finishing segment is projected to expand at a rapid pace during the forecast period
Based on types, the metal finishing market is segmented into inorganic metal finishing, organic metal finishing, and hybrid metal finishing. The inorganic metal finishing segment is expected to hold a key share of the market during the forecast period owing to applications such as electroplating; surface treatment, galvanizing, and electrode less coating are driving the development of the inorganic metal coating market.
The electroplating segment is estimated to expand at a high CAGR during the forecast period. It improves the appearance of the metal, reduces friction, is an effective conductive solution, improves the performance of the catalyst and prevents the formation of whiskers.
The automotive segment is expected to hold a major market share
Based on applications, the metal finishing market is fragmented into automotive, appliances, hardware, jewelry, aerospace, heavy equipment, medical devices, electronics, construction, and other applications. The automotive segment is expected to hold a key share of the market during the forecast period owing to metal processing as one of the most popular methods for applying protective coatings on metal automotive parts.
Metal surface treatment includes the use of inorganic metal surface treatment (such as electroplating) to apply a metal coating. Automotive industry uses metal panels on the engine and other components under the hood, power steering, brake components and systems, air conditioning components and systems.
The growth of the automotive industry is directly proportional to the growth of the metal finishing market; however, automotive production in the United States and Canada had declined in previous years, but the industry is expected to recover rapidly in the next few years.
The US is expected to dominate the market
On the basis of geography, the North America metal finishing market is classified as the United States, Canada, Mexico, and rest of North America. The market of United States is anticipated to hold a major market of around 78% during the forecast period. Metal processing technology is used in the fields of automobiles, electronics, construction, aerospace, and medical device manufacturing.
The United States is one of the fast growing emerging economies and has developed into one of the major manufacturer in the world. According to data from the federal aviation administration (FAA), the total number of commercial aircraft fleets is estimated to reach 8,270 by 2037.
Strong exports of aerospace components to countries such as France, China, Germany, and high consumer spending in the US are projected to drive the market. Several automakers plan to invest in aerospace industry in next few years because government threatens to increase taxes on imported cars, which is expected to fuel the market in Mexico.
Segments
The North America metal finishing market has been segmented on the basis of
Types
- Inorganic metal finishing
- Organic metal finishing
- Hybrid metal finishing
Applications
- Automotive
- Appliances Hardware
- Jewelry
- Aerospace
- Heavy Equipment
- Medical Devices
- Electronics
- Construction
- Other Applications
Geography
- United States
- Canada
- Mexico
- Rest of North America
Key Players
Competitive Landscape
Key players competing in the metal finishing market include C. Uyemura & Co. Ltd, Honeywell international Inc., Linde PLC, and OC Oerlikon Management AG
Some of these players use several business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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