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Metal Finishing Equipment Market

NEW YORK, Nov. 4, 2019 /PRNewswire/ --

Metal Finishing Equipment Market

The metal finishing equipment market is expected to advance at a 4.9% CAGR during the forecast period and reach $17,617.0 million by 2024. Owing to the increasing disposable income of the middle-class population in emerging countries, the purchasing power of individuals has improved. This is resulting in an increase in the demand for personal vehicles as well as affordability of air travel, thereby driving the requirement for metal finishing equipment in the automotive and aerospace industries, respectively.

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Due to the environment-friendliness of the metal finishing process reducing operational costs due to recent advancements in metal finishing technologies, the metal finishing equipment market is expected to witness significant growth in the forecast period. Few of these technologies are hot-dip galvanization and laser cladding technique, which provide metal components with resistance against wear and tear, corrosion, and tarnish. The deployment of these technologies in the growing manufacturing sectors in several developing countries, such as India and China, is projected to add to the growth of the market.

The metal finishing equipment market, based on type, is categorized into hybrid, inorganic, and organic metal finishing. As the inorganic metal finishing equipment is widely used in aerospace and automotive component finishing, this category accounted for the largest market share. To protect the critical aerospace components from damage, aerospace plating is done. Further, to protect vehicles from wear and tear associated with weather conditions and daily use, automotive manufacturers use the metal finishing process.

The subdivisions of the inorganic metal finishing equipment market are cladding, galvanization, electroless plating, vibratory/mass, electroplating, anodizing, conversion coating, electropolishing, and others. During the historical period, the largest market share was registered by the electroplating subdivision. Protection against premature failure of critical components and corrosion in the aerospace, electronics, and automotive industries and during metal fabrication is provided by electroplating. Therefore, the demand for electroplating equipment in various industries is set to experience growth in the forecast period owing to their need to keep up with the increasing demand for electroplating.

In 2018, more than 55.0% market share was held by APAC by generating the largest demand for metal finishing equipment. This can be attributed to the presence of large-scale manufacturing facilities in many regional countries. The advanced consumer electronics industry in countries such as South Korea, Taiwan, China, Malaysia, and Japan and the expanding automotive industry in Japan, China, and India have been the major influencers in the metal finishing equipment market growth. This is supported by the fact that China, Japan, and India held the 1st, 3rd, and 4th positions in motor vehicle production, respectively, in 2018.

The key players in the metal finishing equipment market are Nordson Corporation, Atotech Deutschland GmbH, OTEC Prazisionsfinish GmbH, Plating Equipment Ltd., Techno-Commerz Hau-Klenner GmbH, Garboli, Dey Brothers & Company, Mass Finishing Incorporated, ClassOne Technology Inc., Jason Industries Inc., and Rosler Oberflachentechnik GmbH.

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