Global Composite Metal Finishing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Composite Metal Finishing Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Composite Metal Finishing refers to the process of laying a layer of composite metal on any basic material. Composite Metal Finishing can improve the chemical, wear, electrical, tarnish and corrosion resistance of metal surfaces. Composite Metal Finishing even improves solderability, visual appearance, conductivity, infrared reflectivity, hardness, and torque tolerance.

Market Overview:

The latest research study on the global Composite Metal Finishing market finds that the global Composite Metal Finishing market reached a value of USD 270.94 million in 2022. It’s expected that the market will achieve USD 386.33 million by 2028, exhibiting a CAGR of 6.09% during the forecast period.

The transportation of goods is affected to some extent

Due to the particularity of the epidemic situation, governments and regions of various countries have introduced policies to restrict transportation. It is required to minimize travel, avoid crowds and reduce the spread of diseases. Different countries have different policies, cross-border trade is restricted, and the state controls import and export products more strictly, which increases the transportation time of raw materials. These measures make it more difficult to transport products, especially import and export products. Many modes of transportation are affected and some modes of transportation are canceled. The seller can only change the mode of transportation and shorten the transportation time as much as possible. For example, some sellers change railway transportation to air transportation, and the air transportation price is about 4-5 times that of railway transportation, which increases the transportation cost of raw materials. Therefore, providers of Composite Metal Finishing will naturally raise prices, which may reduce customers' demand, thus affecting the development of the Composite Metal Finishing industry.

Downstream demand is affected

COVID-19 affects all kinds of manufacturing industries because it leads to workplace closure, supply chain disruption, and labor constraints. Many countries and regions around the world imposed a blockade on this, resulting in the closure of manufacturing facilities in many industries. The revenue of the automobile manufacturing industry decreased, which in turn adversely affected the Composite Metal Finishing market. During COVID-19, the supply chain of many manufacturing units was adversely affected, resulting in a sharp drop in revenue and profits, thus reducing the demand for Composite Metal Finishing. Therefore, the unfavorable development of the downstream market in COVID-19 will hinder the development of Composite Metal Finishing.

The application of Composite Metal Finishing is increasingly popular

The extensive use of Composite Metal Finishing is one of the important factors in its development. Composite Metal Finishing is widely used in automobiles, electronics, aerospace, oil and gas, heavy machinery, etc. In the automobile industry, Composite Metal Finishing is used in carburetors, fuel pumps, fuel injection rails, shock absorbers, pistons, sliding yokes, exhaust manifolds and pipes, and many other components. In the aerospace industry, Composite Metal Finishing is used for engine spindles and propellers, gyro components, engine mounts, nozzle components, servo valves, shear bolts, landing gear components, flanges, engine oil supply pipes, etc. Composite Metal Finishing is used for drilling parts, ball valves, cable joints, brake plugs, tubular parts, etc. in the oil and gas industry. In the electronic industry, it is used in printed circuit boards (PCBs), connectors, interlocking devices, connectors, computer driving mechanisms, chassis memory drums and disks, lead terminals, etc. The extensive use of Composite Metal Finishing has brought a broad development space for the industry, which is conducive to the development of the industry.

The threat of substitutes

More and more plastics replace metals, which may hinder the growth of the Composite Metal Finishing market. It is beneficial to replace metal with plastic because plastic can save costs and improve product quality. The weight of products such as automobiles is significantly reduced by using plastic parts, so many automobile industries are turning to plastic instead of metal to manufacture light vehicles. Waste plastic parts or parts that need to be recycled can be ground into original shapes, and granules, and immediately reused in another process. With the continuous improvement of the quality of plastic parts, more and more plastic parts replace metals. The replacement of metals will directly affect the development of the Composite Metal Finishing market, which is not conducive to the development of the Composite Metal Finishing industry.

Region Overview:

Europe dominated the Composite Metal Finishing market in 2022, with a market share of 35.57%.

Company Overview:

Pioneer Metal Finishing, LLC is one of the major players operating in the Composite Metal Finishing market, holding a share of 2.95% in 2023.

Pioneer Metal Finishing, LLC

Founded in 1945, Pioneer Metal Finishing, LLC offers the widest array of metal finishing services including anodizing, electroless nickel, chromate, tin zinc and precious metal platings. Pioneer Metal Finishing, LLC's focus areas: ARP-Acid Etch, CastGuard, EnduraGuard, FrostKote, Hard Lube, Medi-Black Anodize, NorGuard, NorKote, Bright Dip, Phosphate and Anodizing.

OM Sangyo Co.,Ltd

Om Sangyo Co., Ltd. was founded in 1970. Om Sangyo Co., Ltd. develops technologies including environmentally friendly electroplating, and electroplates digital household appliances (LCD TVs, mobile phones, digital cameras, personal computers, etc.) and other electronic components as well as auto parts.

Segmentation Overview:

By type, Electroless plating segment accounted for the largest share of market in 2022.

Electroplating

Electroplating is a method that uses the principle of electrolysis to coat the conductor with a layer of metal. The main uses of electroplating include preventing metal oxidation (such as corrosion) and decoration. After electroplating, the beauty of the electroplated object is related to the current density. In the range of operable current density, the smaller the current density, the more beautiful the electroplated object will be. On the contrary, some uneven shapes will appear.

Electroless plating

Electroless plating is a class of industrial chemical processes that create metal coatings on various materials by autocatalytic chemical reduction of metal cations in a liquid bath. The main technical advantage of electroless plating is that it creates an even layer of metal regardless of the geometry of the surface. Moreover, electroless plating can be applied to non-conductive surfaces and parts of the object that cannot be connected to the current source.

Application Overview:

In the Composite Metal Finishing market, 37.87% of the total value was generated through the Automotive segment by application in 2022.

Key Companies in the global Composite Metal Finishing market covered in Chapter 3:

Reliable Plating Corp
Advanced Surface Technologies, Inc
Lovitt Technologies Australia
Dura-Tech
Micro Plating Inc
Nickel Composite Coatings, Inc.
Sheffield Platers
Pioneer Metal Finishing, LLC
Surface Technology, Inc.
US Chrome
OM Sangyo Co.,Ltd
Twin City Plating (TCP)

In Chapter 4 and Chapter 14.2, on the basis of types, the Composite Metal Finishing market from 2018 to 2029 is primarily split into:

Electroplating
Electroless plating

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Composite Metal Finishing market from 2018 to 2029 covers:

Automotive
Electronics
Aerospace
Oil & Gas
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)