Metal finishing equipment industry growth spurred by global market expansion

The new report “Global Markets and Technologies for Inorganic Metal Finishing Processes (MFG019D)” from BCC Research reveals that increased globalization of businesses and markets for metal finishing equipment will determine the direction of the industry’s growth.

The global market for equipment, consumables, and spares for inorganic metal finishing processes is expected to reach $73.6 billion and $105 billion in 2016 and 2021, respectively, reflecting a five-year (2016-2021) compound annual growth rate (CAGR) of 7.4 percent. During the forecast period, the consumables and spares segment will register the highest CAGR at 10.4 percent. Inorganic metal finishing processes, the largest segment, will grow from $47.2 billion in 2016 to $65.6 billion in the end year.

Worldwide activity in the energy production, transportation, and storage sectors is a key driver of increased sales for major companies involved in inorganic metal finishing equipment and consumable manufacturing. Major projects related to the production and transportation of energy, including traditional and alternative power-generation facilities, oil and gas drilling and pipelines, infrastructure construction, and shipbuilding, are underway in all areas of the world, with a specific focus on the emerging markets of the Middle East, Russia, Latin America, Asia-Pacific, and Eastern Europe. These developments require a substantial amount of metal finishing and treatment, fueling widespread demand for metal finishing equipment and consumables.