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Global Metal Finishing Market to Grow at a CAGR of 4% During 2021-2026, Aided by the Flourishing Automotive Industry

According to a new report by EMR titled, ‘Global Metal Finishing Market Report and Forecast 2021-2026’, the market attained a value of about USD 94.6 billion in 2020. The industry is further expected to grow at a CAGR of 4% in the forecast period of 2021-2026.

The Asia Pacific is witnessing significant growth owing to the presence of the flourishing automotive sector in the region. Moreover, increasing production activities in India and China owing to rapid industrialisation are surging the demand for metal finishing in various industries, hence aiding the market growth. In addition, the presence of global companies is increasing investments in research and development (R&D) to develop more innovative metal finishing products, which are fuelling the market growth. India and China are some of the largest automotive manufacturers in the world. The rising demand for fuel-efficient vehicles due to escalating environmental consciousness is increasing the use of metal finishing in automobiles, providing further impetus to the market growth. Also, technological advancements and innovations in Japan, India, South Korea, and China are positively impacting the market growth for metal finishing.

Honeywell International Inc. (NASDAQ: HON), one of the leading players, entered into an agreement with Moore’s Industrial Service Ltd to distribute and apply its advanced electroplating coating for use in demanding conditions in the oil and gas industry in November 2019. The coating outperforms other materials to protect critical parts from wear and corrosion of longer operational life. It is applied using unique electroplating chemistry to protect the components from abrasion and corrosion while offering more wear resistance than other products. Moreover, the new coating is harder while being more durable and less expensive. It can also be used in various industries, including automotive and electric generation, among others. The development of such products is expected to fuel the growth of the metal finishing industry in the forecast period.

Market Analysis by Type, Application, and Region:

  • The market, on the basis of type, can be divided into inorganic, organic, and hybrid.
  • Based on applications, the industry can be divided into automotive, appliances, aerospace and defence, industry machinery, medical devices, electronics, and construction, among others.
  • The regional markets for metal finishing include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The use of metal finishing in the automotive industry to improve fuel economy and provide aesthetic appearance is aiding the market growth.
  • The market is being driven by the use of metal finishing in various aerospace and defence applications to function in challenging environments.
  • Various industrial uses of metal finishing to enhance corrosion protection and aid electrical conductivity are propelling the industry growth.
  • With the advancements in the medical industry, metal finishing is increasingly used to prevent the risk of infection and enhance sanitation, therefore augmenting the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global metal finishing market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types, applications, and regions of metal finishing.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for metal finishing are Honeywell International Inc., Atotech Deutschland GmbH, Uyemura, Auromex Co., Ltd., DuPont de Nemours, Inc., and TIB Chemicals AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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