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.
Sources: globenewswire.com
Electric car projected
market by 2024
Number of electric
vehicles by 2030vi
Source: IEA
Projected global sales of autonomous vehicles by 2035vii
Source: BCG
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
Commercial drone
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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Consumers demand the appliances in a variety of colours and textures, so they fit seamlessly into their living space. This is supported by plating on plastic (POP), which is expected to grow 60% to $750 million by 2024.
Smart home appliances are a big growth area. By 2020, it is estimated that there will be over 470 million smart connected home appliances installed around the worldii. The smart washing machine market alone is predicted to see a growth rate of 22% over the next five yearsiii.
Electroless nickel plating is increasingly used in the mechanical components for wear and corrosion resistance, as well as in electronics for increased performance of conductive circuit elementsiv.
The demand for better fuel economy is leading to the use of lighter components that still deliver high strength; this includes the growing use of magnesium alloys, which is the lightest structural metal in use today. Magnesium is reactive and corrodes, and therefore is commonly plated with nickel, chrome or zinc to protect the metal against wear and corrosion.
It is estimated that electric cars will have 30% fewer parts than those powered by combustion engines, mainly due to the design of the motor. Plated components like fuel injectors and valve stems will see reduced demand as electric vehicles grow in numbers. Demand for decorative trim and other in-cabin amenities will continue to grow as more automobiles hit the road.
Traditional conversion coatings are being replaced by pre-treatment chemistries based on zirconium or titanium. These may have lower costs and a smaller impact on the environment, including less waste water, eliminating phosphate-containing discharges and lower energy demands since they operate at ambient conditions instead of at high temperatures. These are applied at significantly lower coat weights and still provide similar performance for corrosion resistance, appearance and paintability.
Customers are looking for coatings that last longer, look better and protect the car from UV radiation, extreme temperature, acid rain and foreign particles. Auto manufacturers are looking to smart coatings to play a role in managing heat and generating solar power. These coatings are responsive to their environment, including some with self-healing properties.
Chromium is increasing the metal of choice for wheel covers, door handles, mirror housings, trims and logos and emblems. This is mainly due to its aesthetic qualities as well as its corrosion and wear resistance.
Where previously manufacturers have used cadmium coatings on landing gears, fasteners, and fittings, zinc-nickel plating is becoming the preferred option to replace cadmium for critical corrosion resistance. Zinc-nickel provides the same level of protection or more while eliminating concerns about carcinogenic exposure and meeting longer warranty requirements.
Nickel and zinc-nickel plated components can be found throughout in aircraft, including the main assembly (engine components, turbine blades, fasteners, harnesses) and in the passenger cabin (decorative trim, illumination, infotainment systems).
Electroless nickel plating can be applied directly to aluminium, nickel, copper, cobalt, iron, titanium and their alloys, as well as composite materials when using appropriate pre-treatments. Electroless nickel can be found in fasteners, engine parts, ordnance components and communication systems.
Global medical devices set to grow by 4.5% to $409 billion from 2018 – 2022xi. With advances in miniaturization and a drive to collect more data to make more informed and quicker decisions, devices will grow not only in surgical environments, but also in wearables, activity monitoring and handheld technologies to bring the doctor and hospital to the patient instead of vice versa.
Porous rough titanium coatings are increasingly being used for medical implants due to their greater surface roughness and larger pore size, both of which are believed to promote bone growth. The implants market is predicted to grow to $116 billion by 2022xii. Highest growth area will be in orthopaedics (missing joints or bones).
