Metal finishing is widely adopted in the automotive industry that contributes to the growth of the global metal finishing market. Metal finishing modifies the surface or layer of a workpiece to attain specific characteristics. It includes several operations such as surface pretreatment, preparation, and actual coating methods. In the automotive industry, metal finishing has a significant role in the production of automotive equipment. Automotive manufacturers are adopting metal finishing methods to protect their products from the relentless forces of corrosion. This led to the growing application of an automotive metal finishing technology called electroplating in the industry that propels the market growth.
Growing market opportunities in emerging economies
Emerging economies such as India and China are contributing significantly to the growth of the metal finishing market. Increasing industrialization, rising electronics, and automotive manufacturing industries in these economies are the prime factors that propel the growth of the market. China contributes significantly to the growth of the market. The government is also focusing on the growth of the automotive industry in the country and thus, introduced an initiative called Made in China (MIC) 2025. This initiative is meant to upgrade the China automotive industry from cost-effective mass production to value-added manufacturing. It has given priority to ten sectors, including auto sector and new energy vehicles (NEVs). The aim of this initiative is to sell one million units of nationally produced plug-in hybrid and pure electric cars in China by 2020. These initiatives by the government increase the automotive manufacturing that further increases the demand for metal finishing in the country.
Browse the full report description of Global Metal Finishing Market Size, Share & Trends Analysis Report by Type (Inorganic Metal Finishing, Organic Metal Finishing, and Hybrid Metal Finishing) and by Application (Automotive, Electrical and Electronics, Aerospace, Industrial, and Others) and Forecast 2019-2025 at https://www.omrglobal.com/industry-reports/metal-finishing-market
A significant rise in the industrialization has been witnessed in these emerging countries coupled with the increasing government initiatives to promote industrialization and the growing presence of multinationals in the country. For instance, MIC 2025 is a Chinese government initiative which was introduced in May 2015. The initiative includes a series of state-backed programs launched by the Government of China. This is intended to modernize the Chinese economy, leverage productivity and innovations that are a major driver for the country’s economic growth. MIC 2025 is the first stage of a three-step strategy for transforming China into a major manufacturing power. The first step is for China to improve the overall quality of manufacturing, boost innovation and labor productivity, and obtain an advanced level of IT integration, reduce energy and material consumption, and develop multinational enterprises and industrial clusters. This shows government support for the expansion of industrial facilities in the country and thereby, is boosting the global metal finishing market.
Global Metal Finishing Market- Segmentation
By Type
By Application
Global Metal Finishing Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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