Composite Metal Finishing Market size is projected to grow steadily during the forecast time span as it is widely used in automotive, electronics, aerospace, oil & gas and many other industries for improving the service life of components and to increase their productivity. Metal finishing is a process involving the placement of suitable metal coating on the metallic part surface, often called as a substrate. It improves corrosion and wear resistance, increases solderability, enhances the visual appearance of metal parts, minimizes the effects of friction, alters conductivity, promotes paint adhesion, improves infrared reflectivity and removes surface defects.
The composite metal finishing market will be driven by flourishing automotive industry within the forecast time span. Globalization, favorable economic conditions and changing consumer interests will increase the demand for automobiles in future. Additionally, technological progressions and government policies & legislations will support its growth. Such trends will facilitate the composite metal finishing market demand in upcoming years. Increasing number of passengers, large backlog of new aircraft orders, huge investments and research & development advancements will propel the aerospace industry in future. This in turn will spur the market growth from 2019 to 2025.
Increasing disposable income levels and lifestyle changes are the factors behind the growth of electronics sector. Continuous technological progressions, huge investments and trend of digitization will catapult the demand for electronics products over the forecast period. Hence, positive outlook of electronics industry will trigger the composite metal finishing market growth in future. However, the market growth may be hindered by high prices associated with composite metal finishing.
Based on method, the composite metal finishing market is classified into two segments such as electroplating and electroless plating. Electroplating, also known as electrodeposition, is the method in which metal or metal alloy is deposited on the surface of substrate. Electric current is passed through a bath solution containing dissolved ions of metal and substrate. The metal object to be plated acts as cathode and attracts the metal ions from the bath solution. This process is continuously monitored and regulated by controlling various parameters such as voltage, temperature, purity content of bath solution, etc. In electroless plating, metal coating is chemically deposited onto an object with the help of chemical reaction. This process does not involve usage of electricity. Electroless nickel plating reinforced with diamond, silicon carbide, boron nitride or polytetrafluoroethylene (PTFE) particles is used for a wide range of applications.
Based on end-use, the composite metal finishing market is divided into automotive, electronics, aerospace, oil & gas, heavy machinery and others. In automotive industry, composite metal finishing is used for carburetors, fuel pumps, fuel injection rails, shock absorbers, pistons, slip yokes, exhaust manifolds & pipes and many other components. In aerospace industry, it is used for engine main shafts and propellers, gyro parts, engine mounts, oil nozzle components, servo valves, shear bolts, landing gear components, flanges, engine oil feed tubes, etc. It is used for drilling components, ball valves, cable glands, gate plugs, tubular components, etc. in oil & gas industry. In electronics industry, it is used for Printed Circuit Boards (PCBs), connectors, interlocks, junction fittings, computer drive mechanisms, chassis memory drums and discs, terminals of lead wires, etc.
Asia Pacific region will capture a significant market share in composite metal finishing market owing to fast pacing industrialization and increasing manufacturing activities. This region accounted for more than half of worldwide automotive production in 2018 and these growth trends will remain solid in future. Such trends will drive the market within this region. North America and Europe will capture considerable market share due to positive trends associated aerospace industry, thereby triggering the demand for composite metal finishing. Moreover, rising crude oil production in U.S., Saudi Arabia, Russia and Canada will also bolster the market growth.
Some of the key players in composite metal finishing market are Atotech Deutschland GmbH, Endura Coatings, LLC, Honeywell Inc., Incertec, Pioneer Metal Finishing, LLC, Uyemura International Corporation, Surface Technology, Inc., KC Jones Plating Company, Inc., Classic Plating, Inc., Lovitt Technologies Australia, MacDermid Enthone Industrial Solutions, and others.
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