Global metal finishing market to value at $101.89B

ACCORDING to Mordor Intelligence, the worldwide market for metal finishing is expected to reach $101.89 billion by 2020, growing at a CAGR of 6.5%. This market demand was mainly fuelled by Growth of Automotive and Steel industries.

 

A high demand for metal finishing rose due to the constant need of durable metals in metal industry which lasts long without corrosion, wear & tear and serves the aesthetic purpose.

 

The constant push from regulatory authorities such as EPA (Environmental Protection Agency) and REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) will lessen the use of metal finishing products in order to reduce the impact on the environment as Volatile Organic Compounds (VOC) used in solvents are carcinogenic. Also chemical elements such as chromium, cyanide, cadmium and chlorinated solvents are toxic to health; these elements are disposed in nearby lakes, oceans and water bodies thereby contaminating the environment.