(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 10, 2021, 06:12 /Comserve / -- Middle-East and Africa Metal Finishing Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Middle-East and Africa metal finishing market is estimated to witness a significant growth, at an estimated CAGR of over 4%, over the forecast period. Increasing requirement for durable, wear-resistant, and long-lasting metal products are expected to drive the market during the forecast period.
- Environmental restrictions on some chemicals and increasing replacement of metal by plastics are likely to hinder the market's growth.
- Shift from traditional solvent-borne technologies to newer technologies are likely to create opportunities for the market growth in the coming years.
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- Saudi Arabia is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
Key Market Trends
Automotive Segment to Dominate the Market
- Coatings are applied to various automotive components, majorly to provide aesthetics, corrosion resistance, wear resistance, and lubricity and smooth finish. They also increase the life span or durability of the metal component.
- Metal finishing is one of the prominent methods to provide a protective layer on metal automotive components; it involves applying one or more thin coats of a metal, such as gold, copper, silver, chromium or nickel, to a substrate.
- Automobile manufacturers are always in search of better technologies to protect their products from the relentless forces of corrosion. Vehicles are constantly exposed to the moisture from rain and snow, which can cause the premature demise of metal car parts. Metal finishing comprises the application of a metal coating via inorganic metal finishing, such as electroplating. This prevents automobiles from both red and white rust from reaching the underlying metal surface.
- Metal finishing also includes the application of paints or ceramics. Numerous small and large parts of the automobile require their contact surfaces to be smooth, stress relieved, and without burrs or defects. This enables the automotive engines to achieve a surface with less friction and heat, leading to generation of more horsepower and an overall better performance.
- The market, however, has potential for growth in the long term with the emergence of more technologically developed cars. If such a thing happens, the market for metal finishing will benefit from it.
Saudi Arabia to Dominate the Market
- Saudi Arabia has been a focus area of growth for many Middle Eastern airline companies for many years, thus, making it the largest market for aerospace component imports in the Middle East region.
- The aircraft fleet in the Middle Eastern region is expected to be doubled in the next 10 years, owing to the increased air traffic, majorly from the Middle East to the African region. Infrastructure development and technological advances are primarily being focused on by the Saudi Arabian aerospace industry to smoothen the market entry for multinational players into the country.
- Major players, such as Bombardier, Bell, Cessna, and Rockwell Collins, have entered the Saudi Arabian aerospace sector and many other players have been entering the market by means of joint ventures with the domestic companies.
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- The Kingdom of Saudi Arabia does not have an automotive production base. The country imports majority of the automobile from other nations. However, there is presence of aftermarket services, which contributes a little to the market.
- Saudi Arabia is focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country, to develop the domestic auto industry.
- With the rising growing demand from various end-user industries, the market for metal finishing is expected to grow during the forecast period.
Competitive Landscape
The Middle-East and Africa metal finishing market is partially consolidated in nature. Key players in the market include Honeywell International Inc., Linde plc, OC Oerlikon Management AG, and Almco, among others.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Requirement for Durable, Wear-resistant, and Long-lasting Metal Products
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Environmental Restrictions on Some Chemicals
4.2.2 Increasing Replacement of Metal by Plastics
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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