Dublin, Dec. 26, 2022 (GLOBE NEWSWIRE) -- The "Finishing Lines Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
In 2021, the global market for finishing lines reached US$ 7.1 billion. It is anticipated to expand at a CAGR of 5% during the forecast period of 2022 to 2030.
Finishing lines are collections of different pieces of machinery that are utilized in the process of coating or otherwise treating the surfaces of items. Coatings find widespread application in a variety of end-use industries, including automotive and vehicle refinishing, electronics, aerospace, oil and gas, mining, maritime, and power generation, to name just a few.
For efficient mass manufacture of items, specialized machinery that combines speed and adaptability in surface treatment is essential. The global finishing lines market is anticipated to expand as a result of the growing need for bespoke designs and paints, particularly in the automotive finishing industry.
Companies are increasingly changing their facility plans and products to better meet the needs of their clients to deliver solutions such as integrated booth/ovens and pre-treatment and e-coat systems. The utilization of finishing lines is heavily influenced by several factors, including quality, cost, and the surrounding environment.
Companies that are active in the finishing lines market are working hard to develop novel goods and technologies, such as automatic cutting tape machines, to satisfy the requirements of end-users.
All-In-One Solution Feature to Drive the Market
The finishing line is equipped with features that render it the ideal machine for finishing components of varied sizes with the highest possible degree of accuracy. Finishing lines with high-quality features mean less rework, which in turn means less stress when it comes to fulfilling production deadlines.
Even in the most difficult of conditions, finishing lines continue to function 24 hours a day, seven days a week. They are constructed with a heavy-duty frame that is designed to give practically continuous functioning. This makes them suitable for businesses that run three shifts around the clock.
The Finishing Lines Market Driven by the Growth of the Metal Finishing Industry
In industries like plating and painting, metal finishing is an extremely significant step in the production process. The key motivation for research and development in technology within the plating and painting industries is an increase in worries regarding the environment. Within the plating industry, there is a significant demand for alternatives to cyanide, cadmium, and hexavalent chromium.
However, an increase in concerns over volatile organic compounds (VOCs) and harmful air pollutants has led to the development of a number of alternative technologies in the painting industry. In the not-too-distant future, powder coating is likely going to become an increasingly common form of finishing technology. The market for liquid coatings has already demonstrated significant progress. Additionally, it has made its way into the market for conventional decorative plating.
As a result, it is anticipated that growth in demand for metal finishing will boost the market for finishing lines worldwide. The market for finishing lines is a highly fragmented service industry that is dominated by small businesses that are often situated close to production sites.
The Finishing Lines Market Will Benefit from the Expansion of the Automotive Finishing Market
When it comes to demand for metal finishes, the automobile industry accounts for the majority of the market share. Providing a protective layer on the metal components of automobiles is typically accomplished by the application of automotive finishing, which is one of the most popular procedures employed. Coatings made of polyurethane, acrylics, or alkyds are examples of automotive refinish coatings. These coatings are typically employed in auto body shops and repair facilities.
These coatings are sprayed on new and used passenger and commercial cars to disguise body damage brought on by high temperatures, accidents, and stone chips created by the impact. The expansion of the automotive sector around the world is one of the primary factors that is driving the value of the finishing line market. The growing incidence of traffic mishaps and crashes has led to an increase in the importance of preventative and corrective measures, such as repair and maintenance work. This contributes to the continuation of the market's growth for finishing lines.
Demand for Industrial Ovens to Drive Market Growth
The market for finishing lines has been segmented into pre-treatment plants, ovens, paint booths, conveyor systems, and control systems, among other categories, based on the components that make up the market. In 2021, the ovens segment held a 35% share of the worldwide finishing lines market, making it the most profitable sub segment. When compared to the demand for other types of ovens, the demand for industrial ovens is very strong.
Ovens used in industries are called industrial ovens, and their functions include heating and drying. They are put to use in many different industries for heat-treating, curing, drying, and strengthening a large variety of different materials. Ovens designed for industrial use are also frequently put to use in the process of tempering metals and glass. Industrial ovens can be found in a variety of temperature ranges, sizes, and designs, all of which are determined by the application for which they are ultimately intended.
Automotive Remains the Dominant Application Market
In 2021, the automotive sector held a 31% share of the global finishing lines market, making it the market leader. The automotive sector makes substantial use of metal finishing in its processes. An automotive part's value can be increased if it is protected from rust and premature wear and if its appearance is improved thanks to the addition of this coating.
Companies in the business that perform either "high value-added" or "poor value-added" metal finishing is likely to have a significant impact on the competitive future of the other companies in the industry. The growth of the automotive sector and the conditions of the economy as a whole are predicted to be the primary factors influencing the demand for metal finishing services in the automobile industry.
APAC Remains as the Global Leader
In 2021, Asia Pacific held a significant portion of the market for finishing lines, accounting for 60% of the total revenue. It is anticipated that the market for finishing lines in Asia Pacific will expand at a rapid rate in the not-too-distant future. This growth is anticipated to be driven by an increase in the production of electrical and electronic goods as well as an increase in the demand for heavy equipment in the region.
Within the Asia-Pacific region, China is recognized as one of the most important markets for finishing lines. In 2021, Europe held a revenue share of about 18%. It is anticipated that developments in technology will drive growth in the finishing lines industry in the region in the not-too-distant future.
Market Remains Fragmented
The global market for finishing lines is made up of a number of different service providers, both large and small, that collectively hold the majority of the market share. The majority of companies are currently implementing business strategies along with extensive research and development operations. The primary goal of these endeavors is to create and place an emphasis on environmentally friendly finishing lines.
The finishing lines market has been analyzed, and the findings reveal that important methods implemented by key players include expanding their product portfolios and engaging in mergers and acquisitions. The most notable companies currently active in this industry are Graco Inc., J. Wagner GmbH, and Nordson Corporation
In January 2022, Ronatec announced that it would be acquiring Metalx Specialty Products Inc. The primary focus of Ronatec's operations is the production of specialist products for use in the metal finishing sector, in addition to the production of all of the associated process equipment.
Company Profiles
- Graco Inc.
- J. Wagner GmbH
- Nordson Corporation
- Metalx Specialty Products Inc.
Market Segmentation
Component
- Pre-treatment Plants
- Ovens
- Paint Booths
- Conveyor Systems
- Control Systems
- Others
Application
- Automotive Parts
- Engine and Motors
- Interior Parts
- Exterior Parts
- Others
- Electronics and Control Panels
- Furniture
- Machinery
- Household Appliances
- Others
End-use
- Automotive
- Building and Construction
- Aerospace and Aviation
- Consumer Goods
- Heavy Industries
- Electronics
- Others
For more information about this report visit https://www.researchandmarkets.com/r/knlw0s
