- Report ID: BMRC 301 | Number of pages: 200 | Publish Date: Dec 2019
Status: Published | Category: Heavy Industry | Delivery Timeline:
Global Finishing Machinery Market is expected to grow with the CAGR of 12.95 % over the forecast period. – Increasing demand of accuracy & precision in the industrial sectors and rising demand for automotive textiles are expected to drive the growth of Global Finishing Machinery Market.
Finishing Machinery is comprised of two wheels that rotate continuously on the surface which is to finish. It consists of wheels, sanders, polishers, grinders, bench motors and sponge pads. Depending upon the type of application the wheels and sponge pads can be changed. Finishing is the method of developing the product by improving surface flaws, remove burrs, appearance wear-resistant, corrosion-resistant, & adhesion and modify electrical conductivity with the help of rotating wheels on the surface which is to finish. There are various types of finishing like lapping, buffing, honing, super-finishing, wire finishing, and polishing, electro-polishing and magnetic field-assisted polishing which is the most advanced technique of finishing. The finishing machinery uses different types of machines for different operation means for polishing and others. It’s increasing use in various industries such as textiles, shoes, furniture, garment, construction, 3D printing, glass, apparel, automotive and plastic for smoothening and shining of the surface or any products is one of the major factors driving the demand for finishing machinery. It may also help in enhancing the strength of the material, cleaning and deburring of the material.
Global Finishing Machinery Market report is segmented on the basis of technology, application and region & country level. Furthermore, based upon the technology, global finishing machinery market is classified into wet technology and dry technology. On the basis of application, the market is segmented into textile, furniture, apparel, manufacturing and others.
The regions covered in this global finishing machinery market report are North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. On the basis of country level, market of Global Finishing Machinery Market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for Finishing Machinery Market are Advanced Dyeing Solutions, Acme Machinery Industry, CHTC Fong's Industries, Fujifilm Dimatix, Karl Menzel Maschinen fabrik, Konica Minolta, Kyoto Textile Machinery, Sensient Imaging Technologies, J. Zimmer Maschinenbau, Benninger, Biancalani, Flainox, Kusters Zima, Loris Bellini, Navis TubeTex, Alliance Machines Textiles, Seiko, Murata Machinery, Shima Seiki, Epson, KYOCERA and others.
Increasing number of manufacturing units around the globe with sustainable industrial development which helps to make finished products is one of the primary factors driving the demand for finishing machinery. In addition, due to the rise of the fourth industrial revolution, demand for precise, finished and accurate products has also extensively increased. Manufacturing is the imminent factor to determine the economic development of any country. According to National Manufacturing policy, India’s 25% GDP growth depends on manufacturing which accounts for the creation of 100 million jobs where as China, the United States, and Japan comprises 48 percent of the world’s manufacturing output. Additionally, the automotive industry is a major customer of finishing machinery with a share of around 12.8% in 2017. One of the major challenges faced by finishing machinery is high cost due to the precise demand for products. As a result of this, the implementation of new and advanced technology in the finishing machinery market has emerged which uses the Internet of Things and AI technique to finish the products automatically. Moreover, the combination of high precision finishing machinery with high technology support can create great opportunities for the further growth of this market.
The global finishing machinery Market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. The Asia Pacific is emerged as a leading region in the global finishing machinery market throughout the forecast period, followed by North America and Europe. China is the top nation in terms of growth which accounts for 20% of global manufacturing units worldwide after that US with 18% and Japan 10%. North America’s manufacturing production has substantially dropped down by 0.5 percentages from 1.6 percent from fiscal year 2018 to 2019. Manufacturing production in the third quarter of the 2019 year has registered marginal contraction by 0.7% by countries like Germany, Japan, and the US. In the US the industries of fiber, yarn, fabric, and other non-apparel textile product manufacturing are up 79 percent from $960 million in 2009 to $1.7 billion in 2018. Developing economies in Asia and the Pacific recorded a year-over-year growth rate decrement of merely 0.6 percent in the third quarter of 2019 whereas China’s manufacturing output increased by 5.1 percent in the third quarter of 2019.
By Regional & Country Analysis:
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Finishing Machinery Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025