Metal Finishing Equipment Market To Generate Revenue worth $19,554.7 Million by 2030

  • Published: December 2020

The rising need for metal finishing on vehicles is driving the demand for metal finishing equipment. This process offers a layer on metallic components to defend them against corrosion and wear & tear due to climatic conditions and regular usage of vehicles. Due to these factors, the global metal finishing equipment market is expected to generate $19,554.7 million revenue by 2030, advancing at a CAGR of 4.2% during the forecast period (2020–2030).

COVID-19 has negatively impacted the market for metal finishing equipment, as manufacturers of industrial-use metals, such as iron, steel, and aluminum, have been dealing with a pullback in demand from the manufacturing sector owing to the temporary shutdown of production facilities and disruptions in the supply chain. Since metal finishing is an integral part of numerous industries that use metallic components, the sluggish production of metals has led to the reduction in the need for the chemicals and equipment required to protect the metal from the external environment.

Electroplating Held Largest Share in Market owing to Rising Need for Zinc–Nickel Plating and Palladium Plating on Automotive Components

On the basis of process, the metal finishing equipment market is classified into galvanizing, anodizing, electropolishing, conversion coating, electroplating, electroless plating, vibratory/mass finishing, cladding, and others. Of these, the electroplating category led the market in 2019 owing to the widespread usage of this process in the automotive, aerospace, metal fabrication, and electronics industries. Here, the electroplating of critical metallic components protects them against corrosion and prevents premature failure.

Further, on the basis of end user, the metal finishing equipment market is categorized into automotive, construction, industrial equipment, electrical and electronics, aerospace, and others. Automotive is expected to be the fastest-growing category during the forecast period due to the rising demand for the small and large parts of automobiles to be smooth, stress-relieved, and burr- and defect-free. This enables the manufacturing of automotive engines that experience less effect of friction and heat on their surface, leading to more horsepower and better overall performance.

Geographically, the metal finishing equipment market in Asia-Pacific (APAC) is predicted to witness lucrative growth owing to the rising investment in the industrial sector by multinational companies. Additionally, China, which is the largest automobile manufacturer, focuses on product evolution to achieve higher fuel economy and minimize emissions, owing to the surging environmental concerns due the alarming levels of air pollution.

Mergers & Acquisitions Are Strongest Strategical Measures

Players in the metal finishing equipment market are acquiring and merging with each other to enhance their market presence. For instance, in August 2019, Atotech Deutschland GmbH announced the acquisition of J-KEM International AB (J-KEM), located in Rosenberg, Sweden, to expand its scope of technology and presence in the global business. J-KEM offers chemical products and processes for printed circuit board manufacturing and metal finishing industries.

Similarly, in January 2019, Jason Industries Inc. acquired Schaffner Manufacturing Company Inc., a North American manufacturer of polishing and finishing products, to expand its polishing product offerings in the region.

Some of the major players operating in the global metal finishing equipment market are Atotech Deutschland GmbH, Mass Finishing Inc., Rosler Oberflachentechnik GmbH, ClassOne Technology Inc., OTEC Prazisionsfinish GmbH, Nordson Corporation, Jason Group Inc., TITAN Metal Fabricators Inc., Finishing Systems Inc., and Techno-Commerz - Hau-Klenner GmbH.