Global Inorganic Metal Finishing Market: Snapshot
Inorganic metal finishing technology is considered to play a vital role in a large number of industries across the globe. The growing use of components that have inorganic metal finishing in a wide range of applications is one of the main factors that is projected to encourage the growth of the global market throughout the forecast period. The emergence of innovative and eco-friendly technologies is predicted to generate promising opportunities for the leading players operating in the global inorganic metal finishing market in the next few years. The untapped opportunities in several developing economies across the globe are anticipated to supplement the development of the overall market in the near future.
According to the research report, in 2013, the global market for inorganic metal finishing market was worth US$54.7 bn. The market is estimated to register a healthy 6.20% CAGR between 2014 and 2020, reaching a value of US$83.3 bn by the end of 2020.
Expansion of Application Base to Encourage Growth of Global Market
The robust development of the automotive industry across the globe and the rising demand from the steel industry are some of the key factors that are likely to encourage the growth of the global inorganic metal finishing market in the near future. In addition, the increasing number of applications is expected to accelerate the market’s growth. On the other hand, stringent environmental regulations that are being imposed by REACH and EPA concerning chromium emissions during several processes of metal finishing are anticipated to restrict the growth of the global market in the coming years.
The global market has been categorized on the basis of application into automotive, electrical and electronics, industrial, and others. The other segment has been sub-segmented into defense and hardware. In 2013, the automotive segment led the overall market and accounted for a share of 50%. As per the study, this segment is anticipated to remain in the leading position in the next few years. Furthermore, the industrial and automotive segments are estimated to witness progressive growth in the next few years.
Asia Pacific to Maintain Dominance in Global Inorganic Metal Finishing Market
The research study has categorized the global inorganic metal finishing market on the basis of geography to offer a strong understanding of the market. Among the key segments, Asia Pacific is likely to lead the global market and hold a massive share in the next few years. The rising demand for inorganic metal finishing across diverse industries is one of the major factors that are predicted to fuel the growth of the Asia Pacific market in the coming years. In addition, the significant development of the automotive industry in this region is likely to accelerate the growth of the inorganic metal finishing market throughout the forecast period.
Furthermore, North America is projected to witness progressive growth and remain in the second position in the global inorganic metal finishing market. As per the research report, this region is expected to register a healthy 5.90% CAGR between 2014 and 2020. The rising focus of leading players on the expansion of the application base in order to increase their sales is anticipated to accelerate the growth of the inorganic metal finishing market in North America throughout the forecast period. Furthermore, some of the prominent players operating in the inorganic metal finishing market across the globe are Abakan Inc., Metal Finishing Technologies LLC, Industrial Metal Finishing, Elementis plc, Sequa Corporation, Honeywell International Inc., Atotech Deutschland GmbH, and Rockwood Holdings Inc.
- 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)