Coated, Engraved, And Heat-Treated Metal Products Market Grows At 9% In Response To Rapid Growth In Automotive Industry
Coated, Engraved, And Heat Treated Metal Products Global Market Report 2021 - COVID-19 Impact And Recovery
The Business Research Company’s Coated, Engraved, And Heat-Treated Metal Products Global Market Report 2021 - COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 27, 2021 /EINPresswire.com/ -- The coating, engraving, heat treating, and allied activities market have benefitted from the rapid growth in the 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 size 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 the 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.
The global coated, engraved, and heat-treated metal products market size 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%.
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A laser engraving system technology is being highly used by 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.
Major players covered in the global coated, engraved, and heat-treated metal products industry are Hy-Power Coatings Ltd, Tilton Industries Inc, Rewire Automation Inc, Metex Heat Treating Ltd, Metal Improvement Company Inc.
TBRC’s global coated, engraved, and heat-treated metal products market report is segmented by type into heat treated metal products, coated, engraved metal products and allied services to manufacturers, electroplated, plated, polished, anodized, and colored metal products and by application into manufacturing, automotive, others.
Coated, Engraved, And Heat Treated Metal Products Global Market Report 2021 - By Type (Heat Treated Metal Products, Coated, Engraved Metal Products And Allied Services to Manufacturers, Electroplated, Plated, Polished, Anodized, And Colored Metal Products), By Application (Manufacturing, Automotive), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides coated, engraved, and heat treated metal products market overview, forecast coated, engraved, and heat treated metal products market size and growth for the whole market, coated, engraved, and heat treated metal products market segments, and geographies, coated, engraved, and heat treated metal products market trends, coated, engraved, and heat treated metal products market drivers, coated, engraved, and heat treated metal products market restraints, coated, engraved, and heat treated metal products market leading competitors’ revenues, profiles, and market shares.
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