The global metal plating and finishing market is expecting a rise of 4.23% CAGR during the forecast period (2018-2023) to reach a compelling valuation of USD 11,490.7 million. A report published by Market Research Future (MRFR) delves deep into the segments and drivers to provide a comprehensive overview of the metal plating and finishing market foothold. The report further provides predictive demography of the market in the foreseeable future.
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The metal plating and finishing process involve the adding of a thin layer of metal as a coating to provide a smooth finish to components that extend their productive years. The process provides features such as corrosion resistance, decorative appearance, and increased solderability which is garnering accolades from end-user industries such as electrical & electronics, aerospace, medical, and automotive. In addition, it provides resistance against oxidation, water & chemicals, and high temperature or UV radiation. Developing countries registering heavy growth in the automotive sector can also be an imposing factor.
However, the metal plating and finishing market can find itself in a bottlenecked situation as the pervading plastic industry is narrowing down the openings by curbing the cost and weight of the end-product. But the aerospace sector is displaying an intense interest in the sector which can ensure affirmative growth for the metal plating & finishing market.
The global metal plating and finishing market can be segmented by type, material, process, and application.
Type-wise segmentation of the metal plating and finishing market includes metal plating, cleaning & surface preparation, finishing & protection, and others. Metal plating is in the charge with a valuation of USD 4,297.5 million in 2017 which can go up to USD 5,143 million by 2023. However, the others segment can score the highest CAGR of 5.27% during the forecast period.
Based on the material, the metal plating and finishing market includes zinc, nickel, gold, bronze, tin, and others. Zinc has the edge with its present valuation of USD 3,638.2 million in 2017 which can climb up to USD 4,508.2 million by 2023. But the ‘others’ segment can grow remarkably well with the highest CAGR of 5.20% during the forecast period.
Based on the process, the metal plating and finishing market comprises electroplating and electroless plating. Electroplating segment has the maximum market share. Electroplating segment has the lead with USD 5,349.4 million valuation in 2017 which can reach USD 6,589.9 million by 2023. However, and electroless plating segment is deemed to show the fastest CAGR of 4.72% during the forecast period.
Based on the application, the metal plating and finishing market includes automotive components, machine components, aircraft components, medical components, and others. Automotive components segment can surpass a valuation of USD 4,536.2 million by 2023 and lead the segment with considerable ease, whereas, the other segment can record the fastest growth rate of 5.72% over the assessment period.
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Geographic documentation of the global metal plating and finishing market includes namely by North America, Europe, Asia Pacific (APAC), South America, and Middle East & Africa (MEA).
North America is way ahead of its peers with 32.69% market share and a valuation of USD 2,986.6 million in 2017 which has the possibility of touching USD 3,555.4 million in 2023. The lead can be accredited to its robust infrastructure across industries.
However, the APAC market has the promise to rule the future market as it is inching forward to North America’s valuation. Currently, it has 27.61% of the market share. By 2023, it aims as high as a valuation of USD 3,520.9 million with the highest CAGR of 6.04% during the forecast period.
Prominent players profiled in the metal plating and finishing market are Atotech (Germany), DowDuPont (the U.S.), Pioneer Metal Finishing (the U.S.), Anoplate Corporation (the U.S.), Incertec (the U.S.), Arlington Plating Company (the U.S.), Platform Specialty Products Corporation (the U.S.), CECO Environmental Corporation (the U.S.), SPC (the U.S.) , Coastline Metal Finishing (the U.S.), Ctech Metal Finishing Inc. (the U.S.), Dixie Industrial Finishing (the U.S), American Plating Company (the U.S.), Nassau Chromium Plating Co. (the U.S.), Lincoln Industries (the U.S.), and others. Strategies often play well for both companies involved in it and the market. These include merger, acquisition, collaboration, and other methods.
In August 2018, Aterian Investment Partners took over Pioneer Metal Finishing, one of the largest providers of services such as anodizing, plating, hardcoat, adhesive, electroless nickel, and other in North America.
In March 2017, Arlington Plating Company announced their plan to expand their Palatine, Illinois headquarter which can facilitate better operations and production procedures.
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