Global Composite Metal Finishing Market - Segmented by Process, Filler Used and Geography- Growth, Trends and Forecasts (2018 - 2023)
The global composite metal finishing market is expected to register a CAGR of 7.24% during the forecast period of 2018–2023. The market is majorly driven by the growing popularity of the electroless nickel composite coating, which is experiencing a huge global demand from automotive and heavy machinery industries.
Electroless Nickel Composite Coating Driving the Market
Electroless nickel 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. The increasing demand of this technology in automotive applications such as pistons, shock absorbers, fuel injection rails, and fuel pumps in the Asia-Pacific region, especially in India, China, and ASEAN countries is likely to drive the market.
Electroless Composite Plating to Dominate the Market
The global composite metal finishing market, based on the process types, can be broadly segmented into electroplating and electroless composite plating. Electroless composite plating is expected to dominate the composite metal finishing market owing to its advantages, like ensuring flexibility in plating thickness and saving electricity cost. The rising demand from automotive, oil & gas, and heavy machinery industries are expected to boost the market share of electroless composite plating further.
Automotive Manufacturing Driving the Asia-Pacific Market
The market, based on geographic area, is segmented into Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. In terms of consumption in 2017, Asia-Pacific held a significant market share, followed by North America. Asia-Pacific is also expected to be an emerging market during the forecast period with the increase in automotive manufacturing facilities in China, India, Indonesia, and Thailand. North America and Western Europe are mature markets. North America alone, currently has more than 1000 electroless nickel plating facilities.
In May 2017, Atotech launched a new electroplating technology named BluCr, which is the first trivalent chromium hard chrome plating process and an alternative to hexavalent hard chrome plating.
Major players are Atotech, DowDuPont, Honeywell International, Inc., Bales, and Coventya International, amongst others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
To understand the dominating process type and filler used in the market.
Identify the countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
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