Article from Future Market Insights
Sales of mass finishing consumables are primarily driven by the increasing demand for surface finishing from various end-use industries such as automotive, aerospace, and general and industrial engineering. As indicated in a new study, the global mass finishing consumables market is estimated to be valued at over US$180 million by the end of 2019, demonstrating moderate growth at a less than 5% CAGR during the forecast period, 2019 to 2029.
Key Takeaways - Global Mass Finishing Consumables Market
- Non-metallic abrasives provide more contact area during finishing process than metallic ones, thus enabling the dimensions of parts to stay intact. Furthermore, non-metallic abrasives are best suited for both wet and dry applications. This leads to growing preference for non-metallic abrasives (ceramic, plastic and porcelain) over metallic abrasives, such as steel.
- Ceramic and plastic mass finishing consumables are estimated to account for more than 70% of total mass finishing consumables worldwide.
- Plastic mass finishing consumables are generally recommended for use with softer metals, such as aluminum, brass, and zinc.
- Use of fixtures is an upcoming trend. This process increases flow of media onto component surface, thereby contributing to an increased finishing action.
New entrants in the global mass finishing consumables market can benefit by penetrating emerging economies in East Asia, where substantial growth is seen in the manufacturing sector.
Implementation of digitization and automation technologies over conventional technologies in the production line, product innovation and footprint expansion remain key strategies followed by mass finishing consumables manufacturers to enhance productivity and to capture new market opportunities.
Reducing Third-party Dependence for Finishing Services to Propel Market Growth
Sustainable growth of investment in the manufacturing sector is expected to play a key role in driving the growth of the mass finishing consumables market across the globe. From the perspective of end-use industries, surface finishing is used in almost in every industry for cleaning and refurbishing metallic and non-metallic parts. End users are dependent on third-party service providers, which increases production cost and negatively impacts profitable margins. The high cost involved influences such end users to opt for in-house surface and finishing technologies and to enhance productivity along with reducing cost and time.