The global market for equipment, consumables and spares for inorganic metal finishing processes is expected to reach $105 billion in 2021.
(PRWEB) September 23, 2015
Economic development is advancing rapidly on a global scale, evidenced by huge investments in infrastructure, transportation, manufacturing, energy production and transmission and construction. BCC Research reveals that increased globalization of businesses and markets for metal finishing equipment will determine the direction of the industry’s growth.
Metal finishing can be defined as the deposition of a coating, which may be metallic or non-metallic, onto a metallic substrate. The market for inorganic metal finishing process comprises three types of treatments/processes: surface preparation/pretreatment, inorganic metal finishing processes, and consumables and spares.
The global market for equipment, consumables and spares for inorganic metal finishing processes is expected to reach $73.6 billion and $105 billion in 2016 and 2021, respectively, reflecting a five-year (2016-2021) compound annual growth rate (CAGR) of 7.4%. During the forecast period, the consumables and spares segment will register the highest CAGR at 10.4%. Inorganic metal finishing processes, the largest segment, will grow from $47.2 billion in 2016 to $65.6 billion in the end year.
Worldwide activity in the energy production, transportation and storage sectors is a key driver of increased sales for major companies involved in inorganic metal finishing equipment and consumable manufacture. Major projects related to the production and transportation of energy, including traditional and alternative power generation facilities, oil and gas drilling and pipelines, infrastructure construction and shipbuilding are under way in all areas of the world, with a specific focus on the emerging markets of the Middle East, Russia, Latin America, Asia-Pacific and Eastern Europe. These developments require substantial amount of metal finishing and treatment, fueling widespread demand for metal finishing equipment and consumables, and global manufacturers are gearing up in key markets and locations around the world to meet this growing demand.
“These companies are capitalizing on positive trends in each of these markets to strengthen their leadership positions through ongoing global expansion, innovation, customer focus, strategic acquisitions and productivity improvement,” says BCC Research analyst Srinivasa Rajaram. “Most of the major companies are enhancing their capabilities to satisfy these needs through a combination of organic growth, acquisitions and geographic expansion. From a global perspective, these companies are strengthening their position in emerging markets while continuing to serve existing markets.”
Global Markets and Technologies for Inorganic Metal Finishing Processes (MFG019D) examines global and regional markets for various types of inorganic metal finishing technologies. The report evaluates various applications of inorganic metal finishing coatings and the markets for such applications, with emphasis on products in development. Market dynamics, growth drivers, inhibitors, opportunities, and forecasts trends and revenue through 2021 are provided.
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