Inorganic Metal Finishing Market
Inorganic Metal Finishing Market (Product Type - Pretreatment/Surface Preparation, Inorganic Metal Finishing Process, and Consumables and Spares; Application - Automotive, Electrical and Electronics, Industrial, Hardware, and Defense) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Global Inorganic Metal Finishing Market – Snapshot
Need for corrosion resistant and wear resistant metals is driving need for a number of industry verticals such as electronics, automotive, and steel is driving demand for inorganic moral finishing market. Besides, it is also demanded in the heavy industries and aerospace domain.
Between 2014 and 2020, the global inorganic metal finishing market would chart a steady 6.20 growth rate, compounded annually – CAGR – as per a Transparency Market Research (TMR) study report. That means from a market worth of USD 54.7 billion in 2013, the market would see an improvement to reach the valuation of USD 83.3 billion in 2020.
And, as stated above, certain industries are coextensive with this market. Thus, a growth in one leads to growth in demand for inorganic metal finishing market. Therefore, growth in steel and automotive will generate demand in the market over the forecast period. Additionally, experts predict heavy growth in the aerospace sector over the coming period.
The only factor that seems to hamper the global inorganic metal finishing market from reaching its full potential over the forecast period is strict regulatory framework around chromium emissions that are noted in a number of processes associated with inorganic metal finishing. This is makes it imperative to make a mention of EPA an REACH that are the underlying force behind these constraints.
However, this constraint will be offset by a number of other trends and drivers that are propelling the global inorganic metal finishing market forward over the forecast period. It is also worth noting here that the global inorganic metal finishing market is fragmented and players that have led the market to break new ground include the likes of Metal Finishing Technologies LLC, Abakan Inc., Sequa Corporation, Elementis plc, Rockwood Holdings Inc., Atotech Deutschland GmbH, Industrial Metal Finishing, and Honeywell International Inc., among others.
It is pertinent to note here that the global inorganic metal finishing market report is segmented by product and application and the former is sub segmented into pretreatment or surface preparation, inorganic metal finishing process, consumables and spares. On the other hand, the latter is sub divided into automotive, industrial, electrical and electronics, and others (including hardware and defense).
Inorganic Metal Finishing Processes to Dominate Product Category
By product, the inorganic metal finishing processes will dominate the segment owing to wide range of across industries, especially in electronic and electrical applications. The reason behind this is that this process allows for metals to gain high durability and resistance to corrosion, and wear and tear.
By application, automotive will top the charts. In 2013, the share was close to 50% and the trend is set to continue over the forecast period. This growth graph would be higher to electrical and electronics, which are closely following in the footsteps of automotive, to be the second largest sub segment in under the applications category.
Asia Pacific to Lead Global Inorganic Metal Finishing Market over the Forecast Period
The global inorganic metal finishing market report, as prepared by Transparency Market Research is segmented on the basis of region into the following zones – North America, Europe, Asia Pacific, and the Rest of the World (RoW). And, from these areas, Asia Pacific (APAC) will lead the global inorganic metal finishing market, owing to rapid industrialization. in the region. And, as the nations do well on the economic front, the region will only contribute more to the growth curve over the forecast period.
- Pretreatment/Surface Preparation
- Inorganic Metal Finishing Processes
- Consumables and Spares
- Electrical and Electronics
- Others (Including hardware and defense)
- North America
- Asia Pacific
- Rest of the World (RoW)