Over the next five years there will be a number of growing markets that will increase the demand for coated parts and require you to increase your plating and process control capacity. This interactive guide will tell you which industries you should secure relationships with in order to grow your business.
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Global home appliances market set to grow from $174 billion in 2017 to $203 billion in 2023. A growing global middle class is hungry for appliances and gadgets that make their increasingly busy lives easier.
Appliances are becoming more connected as part of the smart home movement. This has led to strong growth in plated components that support these electronics – particularly connectors. The global connectors market is projected to reach $80 billion in 2022.
Global Connectors projected market value by 2022.
Global home appliances projected market value by 2022i.
Providing new coatings for automotive is by far the biggest industry for metal finishing. Automotive coatings revenue, including paint and base coat, is expected to surpass $27 billion by 2022. There is currently a lot of innovation in this sector, particularly with regards to electric and autonomous vehicles. The growth of electric cars (projected to reach $28 billion by 2024v) will lead to a decline in combustion engines, as well as plated components that go with them.
Electric car projected
market by 2024
Number of electric
vehicles by 2030vi
Projected global sales of autonomous vehicles by 2035vii
Corrosion protection for components such as landing gear and fasteners. The aerospace market is similar to the automotive market in many ways. Companies are being challenged to find ways to carry more passengers with lower costs while reducing environmental impact. That’s achieved by using lightweight materials, advanced alloys and plated components throughout the craft. Plating on plastic supports this, as does the use of magnesium alloys.
Soon to be a $2 trillion global market, military and defence innovations are leading to new approaches in technologies used in aircraft, drones and guidance systems.
Aerospace landing gear
projected market by 2024viii
projected market by 2022 ix
Military drone projected
market by 2025x
Advances in medical technology and an ageing population mean that medical devices represent an area of sustained growth. Electroplated medical devices holds a number of benefits for the medical industry: sanitization, resistance to bacteria, biocompatibility, corrosion resistance and high strength.
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