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Composite Metal Finishing Market size is projected to experience a healthy growth during 2023 to 2032, driven by its widescale use in high revenue industries such as automotive, electronics, aerospace, and oil & gas. Composite metal finishing helps these industries increase the service life of their components and improve productivity.
Metal finishing involves the placement of a suitable metal coating on the metallic part's surface, often called 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.
An increasing number of passengers, a large backlog of new aircraft orders, huge investments, and research and development advancements will propel the aerospace industry in the future. Increasing disposable income levels and lifestyle changes are the factors behind the growth of the electronics sector.
Continuous technological advancements, huge investments, and digitization will catapult the demand for electronics products over the forecast period. Hence, the electronics industry's positive outlook will trigger future market growth.
Based on end-use, the composite metal finishing market is divided into electronics, automotive, oil & gas, aerospace, and heavy machinery among others. The automotive industry uses composite metal finishing for carburetors, fuel pumps, fuel injection rails, shock absorbers, pistons, slip yokes, exhaust manifolds and pipes, and many other components.
In the aerospace industry, it is used for main engine 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, such as ball valves, cable glands, gate plugs, tubular components, etc., in the oil and gas industry.
In the electronics industry, it is used for Printed Circuit Boards (PCBs), connectors, interlocks, junction fittings, computer drive mechanisms, chassis memory drums, discs, terminals of lead wires, etc.
From a regional standpoint, Asia Pacific region will capture a significant revenue share in the composite metal finishing market due to the region’s fast-paced industrialization and increasing manufacturing activities. North America and Europe will capture considerable market share due to positive trends associated with the aerospace industry, triggering the demand for composite metal finishing. Moreover, rising crude oil production in the U.S., Saudi Arabia, and Canada will bolster the market growth.
Some of the key players in the composite metal finishing market are MKS (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, and MacDermid Enthone Industrial Solutions. These compaies are incorporating varied strategies such as M&As and business expansions to sustain their strong position across the global market.
For instance, in 2022, MKS Instruments, Inc., a global technology provider that enables advanced processes and improves productivity, acquired Atotech Limited, in a $4.4 billion cash and MKS common stock deal. With this acquisition, MKS plans to accelerate roadmaps for future generations of advanced electronic devices.
While all modern composite metal finishing techniques allow for extremely thin metal finishes, new technological innovations have enabled the field to go thinner with nano-scale coatings. For scale, a human hair has a width of approximately 80,000 to 100,000 nanometers, while nanotech finishes can be as thick as 1 and 100 nanometers. Such microscopic scales allow manufacturers better control over the metal’s properties, enabling desirable qualities with minimal increase in mass.
This composite metal finishing market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2018 to 2032, for the following segments:
Market, By Method
Market, By End-use
The above information has been provided for the following regions and countries: