Major companies in the coated, engraved and heat treated metal products market include Hy-Power Coatings Ltd; Tilton Industries Inc; Rewire Automation Inc; Metex Heat Treating Ltd and Metal Improvement Company Inc.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Coated, Engraved, And Heat Treated Metal Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018794/?utm_source=GNW
The global coated, engraved, and heat treated metal products market is expected to grow from $177.44 billion in 2020 to $193.84 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $247.71 billion in 2025 at a CAGR of 6%.
The coated, engraved and heat treated metal products market consists of sales of products derived from coating, engraving, heat treating, and allied activities by entities (organizations, sole traders or partnerships) that heat treat metals and metal products; enamel, lacquering, and varnishing metals and metal products; hot dip galvanize metals and metal products; engrave, chase or etch metals and metal products (except jewelry; personal goods carried on or about the person, such as compacts and cigarette cases, precious metal products (except precious plated flatware and other plated ware) and printing plates); powder coat metals and metal products; electroplate, plate, anodize, color, and finish metals and metal products; and/or provide other metal surfacing services for the trade. Establishments in this industry coat, engrave, and heat treat metals and metal formed products fabricated elsewhere. The coated, engraved and heat treated metal products market is segmented into heat treated metal products; coated, engraved metal products and allied services to manufacturers; and electroplated, plated, polished, anodized, and colored metal products.
Asia Pacific was the largest region in the global coated, engraved, and heat treated metal products market, accounting for 52% of the market in 2020. North America was the second largest region accounting for 19% of the global coated, engraved, and heat treated metal products market. South America was the smallest region in the global coated, engraved, and heat treated metal products market.
Laser engraving system technology is being highly used by the companies involved in the engraving etching and chasing of metals . Laser engraving and laser etching are contact-free, reduces the surface damage, are durable and are safer than toxic solvents, ink jet and acids. Laser engravings are faster than hand engraving, and dot-peen markings. Its applications comprise of product labeling and coding in the electronics industry (mobile phones, tables, etc.), tool construction, and medical technology.
Many developed and developing economies are considering imposing restrictions on free trade. Post Brexit, trade restrictions between the UK and other European countries are likely to increase. The US government has repealed the North American Free Trade Agreement (NAFTA) that created a trilateral trade block in North America. These changes can widen the trade competition between countries and reverse the trend towards global free trade. This will affect the demand for metal products, restricting the growth of the coating, engraving, heat treating, and allied activities market.
The coating, engraving, heat treating, and allied activities market have benefitted from the rapid growth in automotive industry during the historic period. For instance, steel, aluminum and magnesium are some of metals commonly used in the automotive industry for manufacturing body panels, engines, transmissions and numerous other parts. The global motor vehicles market grew from $1,477.2 billion in 2014 to $2,085.1 billion in 2018 at a compound annual growth rate (CAGR) of 9%. According to Deloitte, in 2016, 25% of the domestic steel demand in the US was coming from automotive industry and car sales in the US reached a record level of 17.6 million vehicles in 2016. Therefore, rise in demand for automobiles during this period, positively impacted the coating, engraving, heat treating, and allied activities market.
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