Recent advancements in metal finishing technologies are expected to boost the market in the forthcoming years by reducing the operational costs and making the metal finishing process more environmentally friendly. Few of these new technologies include laser cladding technique and hot-dip galvanization, which give resistance power to metal component from corrosion, tarnish, and wear and tear. These technologies coupled with manufacturing sector growth in several emerging countries such as China and India are expected to fuel the metal finishing equipment market during the forecast period.
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Economic prosperity in developing nations, such as India and China, is boosting industries including automotive, electronics, and heavy machinery, thereby creating huge demands for metal finishing. In 2018, in India and China, 5.17 million and 27.8 million vehicles were manufactured, respectively, indicating a growing automotive sector, which heavily uses metal finishing equipment. As the requirement for enhancing the decorative appeal and durability of products increases, so will the prospects for the metal finishing equipment market players to augment their sales revenue.
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The expanding automotive industry is positively influencing the metal finishing equipment market growth. Vehicles are high in demand due to the improving economic conditions in developing economies, such as India, Mexico, Indonesia, and China. In 2017, with a sale of 29.2 million vehicles, China emerged as the largest automobile market worldwide. The increased vehicle sales have resulted in the growing demand for metal finishing solutions. Air-conditioning components, brake parts, and power steering systems are vulnerable to weather conditions and corrosion. Metal finishing helps increase their longevity, therefore is in high demand.
The metal finishing equipment market is observing the trend of electroless nickel plating. Even though electroplating is the most popularly used method for metal finishing, it has certain disadvantages, such as high process cost, non-uniform plating, and electroplating solution disposal issues. To take care of this, companies are switching to electroless nickel plating as it is cost-effective, creates less pollution, and applies the coating uniformly on the substrate. In electroless nickel plating, nickel is deposited on the substrate by an autocatalytic chemical reduction process.
This post was originally published on Raleigh Recorder