Global composite Metal Finishing Market - Forecast(2021 - 2026)

 Global Composite Metal Finishing Market size is forecast to reach $XX million by 2025, after growing at a CAGR of 7.2% during 2020-2025. There is an increasing demand for composite metal finishing as it improves chemical, wear, electrical, tarnish and corrosion resistance of the surface. Composite metal finishing even enhances solderability, visual appearance, conductivity, infrared reflectivity, hardness, and torque tolerance. Without metal finishing, products made from metals would last only a fraction of their present lifespan because of corrosion and wear. The rising demand for composite metal finishing to enhance electrical properties, form and shape components, and to augment the bonding of adhesives or organic coatings is driving the global composite metal finishing market during the forecast period. Its wide usage in automotive, electronics, aerospace and oil & gas industries is also driving the market growth. 

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Report Coverage

The report: “Global Composite Metal Finishing Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the global composite metal finishing Industry. 

By Process: Electroplating Process, and Electroless Composite Plating Process

By Filler Used: Diamond, Boron Nitride, Silicon Carbide, Polytetrafluoroethylene (PTFE), and Others

By End Use Industry: Aerospace, Automotive, Electronics, Oil & Gas, Heavy Machinery, and Others

By Geography: North-America, South-America, Europe, Asia Pacific, and RoW

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Key Takeaways

• Asia-Pacific dominates the global composite metal finishing market, owing to the rising demand for tough and corrosion resistant materials from the automotive, electronics and aviation sectors for applications such as pistons, shock absorbers, fuel injection rails, and fuel pumps in the region.
• Electroless composite coating technology has various advantages such as energy and cost savings, automatic monitoring of chemical replenishment, and also, it aids in plating blind holes with stable thickness which acts as a driver for global composite metal finishing market. 
• Development of trivalent chromium hard chrome plating process is anticipated to drive the global composite metal finishing market growth during the forecast period as the hazardous nature of hard chrome plating and the potential risks to the environment and personnel can be drastically reduced.
• Composite metal finishing market is driven by its wide usage in oil & gas sector for drilling components, ball valves, cable glands, gate plugs, tubular components and in electronic sector, for Printed Circuit Boards (PCBs), connectors, interlocks, junction fittings, computer drive mechanisms, chassis memory drums and discs, terminals of lead wires. 
• Due to the COVID-19 Pandemic, most of the countries has gone under lockdown, due to which operations of various industries has been negatively affected, which is hampering the global composite metal finishing market growth.

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By Process – Segment Analysis

The electroless composite plating process held the largest share in the global composite metal finishing market in 2019, owing to its extensive set of properties, such as improved corrosion resistance due to a more consistent thickness, the ability to plate complicated and irregular shapes, lower operating costs due to improved coating quality, improved mold and die release properties for stamping and drawing, uniform nickel coating composition for less waste and reduced downtime due to plating-related issues. The rising demand from automotive, oil & gas, and heavy machinery industries are expected to boost the market share of electroless composite plating process further during the forecast period. 

By End Use Industry – Segment Analysis

Automotive sector held the largest share in the global composite metal finishing market in 2019 and is growing at a CAGR of 7.8%, owing to its various applications in vehicle parts such as engines, other under-the-hood components, power steering systems, brake parts and systems, air conditioning components and systems, chassis hardware, climate control components, and fuel systems. Composite metal finishing is one of the prominent methods used to provide a protective layer on the metal components of vehicles. Various minor and major automotive parts need their contact surfaces to be smooth, stress relieved and without burrs or defects, which can be achieved by metal finishing. It is needed as it helps the automotive engines to achieve a surface with lower friction and heat, resulting in more horsepower generation and better overall performance. The constant demand for composite metal finishing from the automotive sector is anticipated to drive the global composite metal finishing market during the forecast period.

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