Metal Plating and Finishing Market Size, Share, Growth, And Industry Analysis, By Type (Platings, Coatings, Polishing, Others) By Application (Aerospace & Defense, Oil & Gas, Medical, Automotive, Electronics, Power Generation, Others) and Regional Forecast By 2031

Updated On: 15 April 2024

Metal Plating and Finishing Market Report Overview

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The global metal plating and finishing market size was 16160 million in 2021. As per our research, the market is expected to reach USD 23767.17 million by 2031, exhibiting a CAGR of 3.9% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering; with the metal plating and finishing market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

 The process of adding a metal coating on the surface of a metallic item, often referred to as a substrate, is referred to as metal finishing. It could also require establishing a method for polishing, cleaning, or otherwise enhancing a surface. Since there is a growing need for protective and long-lasting solutions, which is driving the market expansion, metal plating and finishing are widely used in the automotive, electronica & electronics, and aerospace industries. Additionally, increased benefit awareness and technology advancements fuel the market's expansion.

The market expansion for metal plating is being favorably impacted by the increased need for strong, ductile, and corrosion-resistant metal goods. Metal finishing is used in every component of the aerospace sector, which is expanding rapidly, to fulfil strict rules, guarantee optimal performance, and assure operational security of aircraft. Additionally, it improves electrical conductivity, boosts resilience to high temperatures, and strengthens the metal substrate, which is why it is frequently used on titanium. Further boosting market expansion is the defense industry's usage of metal finishing in tanks and armored personnel carriers to satisfy the needs of harsh weather conditions.

COVID-19 Impact: COVID-19 pandemic hampered the supply chain, which restrained market expansion

Lockdowns, travel restrictions, and company closures caused by the coronavirus pandemic had an impact on the economy and sectors of many different nations. One of the primary businesses affected by this epidemic is the worldwide chemical and materials sector, which has seen supply chain delays, technology event cancellations, and workplace closures. And this had a detrimental impact on the worldwide electroplating market.

Latest Trends

"Rising adoption of metal plating due to wide applicability Leading Market Expansion "

Over the past few years, because there are more electronic components in various pieces of equipment and people are using safety managements more frequently. For the production of various components in the finished goods of industries like automotive and aerospace, where safety is important and widely implemented over various safety components that ensure the protection during critical periods, consumers and end users are adopting metal plating and finishing at an increasing rate. The metal finishing process also aids in enhancing aesthetic appeal, resistance to erosion, stain resistance, chemical resistance, wear resistance, and modifying conductivity of the substrate, which is expected to increase market demand for metal plating and finishing.

Metal Plating and Finishing Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into platings, coatings, polishing, others. Platings are anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into aerospace & defense, oil & gas, medical, automotive, electronics, power generation, others. aerospace & defense will be the dominating segment.

Driving Factors

"Utilizing Metal Finishing to Support the Growth of the Automotive Sector to Support the Metal Finishing Industry"

The extensive usage of metal finishing in the booming automobile industry is promoting market expansion. It is applied to a variety of automobiles to delay corrosion and give the outside a streamlined, appealing look. Additionally, it serves as a protective coating for a number of automotive items, including engines, power steering systems, shock absorbers, anti-vibration components, and fuel systems, among others. The components' smooth surfaces help the engine produce more horsepower, enhancing the car's overall performance. The metal finishing sector is expanding as a result of this.

"Medical Industry's Widespread Use of Metal Finishing Is Promoting the Growth of the Metal Finishing Industry"

Medical device manufacturers are now using metals like titanium and magnesium instead of stainless steel due to developments in technology. To ensure that items are of the requisite quality and performance, metal finishing is essential. Additionally, it makes sure that surgical tools are reliable, safe, and clean to a high level. This is promoting the expansion of the sector. Metal finishing is used to provide smooth, rust-free surfaces when several medical devices, such as prosthetic hips and cardiac pacemakers, are installed within the body, therefore reducing the risks of infection and boosting market growth. Additionally, because metal finishing uses minimally invasive medical techniques, it offers benefits for patients in terms of quicker recovery times and lower healthcare expenses. This is accelerating market expansion as well.

Restraining Factors

"Strict environmental regulations will restrict the market growth"

Strict environmental regulations, the replacement of metals with alternative goods like high performance plastics, and the absence of standardized criteria are the main barriers to industry expansion.

Metal Plating and Finishing Market Regional Insights

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"Asia Pacific region will dominate the market during forecast period"

With a sizable CAGR, Asia Pacific accounted for a higher revenue share in the worldwide market. The tremendous expansion of the fashion and sports sectors, as well as the adoption of more effective technologies and the rising need for metal plating and finishing, are some of the main driving forces behind this region's growth. In North America, the market is expanding significantly as a result of the development of several manufacturing sectors, which may also be linked to the extensive production of electric equipment to meet consumer demand.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Pioneer Metal Finishing (U.S.)
• Anoplate (U.S.)
• Lincoln Industries (U.S.)
• CECO Environmental (U.S.)
• Arlington Plating (U.S.)
• Incertec (U.S.)
• Sharretts Plating Company (SPC) (U.S.)
• Coastline Metal Finishing (U.S.)
• Dixie Industrial Finishing (U.S.)
• American Plating (U.S.)
• H&W Global Industries (U.S.)
• Ctech Metal Finishing (U.S.)
• Nassau Chromium Plating (U.S.)
• Valence Surface Technologies (U.S.)
• Allied Finishing (U.S.)
• Able Electropolishing (U.S.)
• American Metal Coatings (U.S.)
• Morrell’s Electro Plaating (U.S.)
• Durable Industrial Finishing (Difco) (U.S.)
• Micron Metal Finishing (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.