August 21, 2008
Wellesley, Mass—According to a new technical market research report, INORGANIC METAL FINISHING PROCESSES: THE GLOBAL MARKET (MFG019B) from BCC Research, the global market for inorganic metal finishing technologies is expected to grow from $42.3 billion in 2007 to an estimated $44.4 billion in 2008 and $61.1 billion in 2013, a compound annual growth rate (CAGR) of 6.6%.
The market is broken down into inorganic metal finishing processes, surface preparation/pretreatment, and consumables and spares. Of these, inorganic metal finishing processes have the largest market share, generating $29.0 billion in 2007. This is expected to increase to $30.1 billion in 2008 and $39.7 billion in 2013, for a CAGR of 5.7%.
Surface preparation/pretreatment has the second largest share of the market, worth $9.3 billion in 2007 and an estimated $9.8 billion in 2008. This should increase at a CAGR of 7.7% to reach $14.2 billion in 2013.
Consumables and spares represent the fastest growing market segment, expected to increase from $4.0 billion in 2007 to $4.5 billion in 2008 and $7.2 billion in 2013, a CAGR of 9.9%.
Growth in markets for inorganic metal finishing processes and technologies is due partly to the role these technologies play in improving a component’s capabilities in terms of corrosion or wear resistance, appearance and even performance. The rapid growth of the metal finishing industry is also due to the need for metal finishing in various applications. Metal finishing requirements have become very important to the computer, communications, electronics and appliances industries.
The demand for reducing environmental and health hazards caused by these metal finishing processes and technologies has led to an increase in research activities with constant attempts being made to bring about innovations and alternatives to these technologies. The main environmental impacts relate to energy and water consumption, the consumption of raw materials, emissions to surface and groundwater, solid and liquid wastes and the site condition upon cessation of activities.
Inorganic Metal Finishing Processes: The Global Market( MFG019B )
Publish Date: Aug 2008
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, Telephone: 866-285-7215; Email: email@example.com as the source and publisher. Thank you.