Global Metal Finishing Market is valued at USD 94.99 Billion in 2021 and is expected to reach USD 123.14 Billion by 2028 with a CAGR of 4.42% over the forecast period.
The growth in the automotive industries in the developing countries such as India, Mexico, Thailand, China and Indonesia has been expected to drive the growth of the global metal finishing market. The market of global metal finishing has been valued significantly in the last few years and has been expected to see growth in the forecast period.
The agencies like OSHA, EPA and REACH have been enforcing a lot of stringent regulations on the management of wastewater and the disposal of hazardous waste by the industry of metal finishing. There are guidelines for the wastewater as it contains a lot of contaminants like the organic substances, cyanides, heavy salts and the suspended solids. These contaminants are hazardous for the environment and are posing the risks to health potentially which is going to in all likelihood hamper the growth of the global metal finishing market in the future.
The largest segment which has emerged in the recent past in the global metal finishing market is the plating chemicals segment. These are known for the providing of surface properties which are superior like the resistance to corrosion and the wear resistance as well the hardness and electrical conductivity for the metal surfaces. The segment of cleaning chemicals has been touted at witnessing the greatest amount of growth in the period of forecast because of the increase in the use of these products in the application in a lot of the industries like construction, aerospace, electrical automation and also electronics.
The conversion coatings have been used in the electrochemical and chemical conversions for the providing of the metal coatings. The chemicals which are used in the conversion coatings include the black oxide, chromates and phosphates. The coatings are offering mild resistance to corrosion and they improve in the field performance as well as the paint adhesion.
The conversion of Chromate has been used mainly in the aluminum surfaces while the iron and zinc phosphate conversion has been used in the steel substrates. The increase in the use of the conversion and the increase in use of the conversion coatings for the metal pretreatment as it is inducing the anti-corrosive properties has been expected to see the market grow in the forecast period. Growth in the automotive market has also been expected to see a good amount of growth in the future for the global metal finishing market. There is a rise in the demand for these products which may be attributed to the chemicals of the metal finishing like the resistance to corrosion, wear, electrical, hardness as well as chemicals in addition to the conductivity, reflectivity and appearance to the metal surfaces.
The region which has been leading in the global metal finishing market because of the presence of the larger number of manufacturers as well as the automotive sector is North America. Though the biggest growth has been expected to be seen in the market of the Asia Pacific region. Europe has been expected to be the second largest segment in terms of the region and it has been expected to show good amount of growth in future too. Automated industry has been anticipated to be growing at the fastest rate in the application segment in the period of forecast because of the demand which is increasing everyday with the passengers growing in the countries like India and China.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 94.99 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 123.14 Billion|
|Tables, Charts & Figures:||175|
|Metal Finishing Companies||Dow Chemicals, Chemtall, Mc-Gean, Elementis, Coral Chemical Company, Quaker Chemicals, Platform Specialty Products, NOF corporation, A Brite company, HENKEL, Technic , NOF corporation|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|