Procurement Outlook
Metal finishing is the process of placing the metal coating on the surface of a metallic part, referred to as a substrate. It can also involve the implementation of a process for cleaning and polishing. Metal finishing chemicals are used to treat the surface of metal products by forming a thin coating to enhance the appearance, function, or performance of the product, and increase marketability. Electrolytic plating, electroless plating, and chemical and electrochemical conversion processes are widely used processes for metal finishing.
Demand Outlook
The global metal finishing market was estimated at ~USD 95 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027 due to increasing demand from end-use industries, such as automotive, aerospace, construction, and electrical and electronics. Automotive and electronics applications accounted for more than 60% share in the global metal finishing Industry. Moreover, increasing expenditure in aerospace R&D by various governments including the U.S., Germany, France, the U.K., Poland, and Sweden is expected to fuel the demand for metal finishing during the forecast period. APAC is expected to witness a CAGR of ~6% over the next five years, owing to growing automotive and construction spending coupled with rising disposable income in the region.
Cost Drivers
The cost of metal finishing depends on the process. In most metal finishing processes metal finishing chemicals are used. The cost of metal finishing chemicals is the major cost driver of metal finishing services. It accounted for more than 50% of the overall cost of metal finishing. Other key components include processing costs, machinery costs, utility costs, labor costs, etc. Metal finishing suppliers majorly outsource the operations to APAC due to the high availability of raw materials and low-cost labor. It also reduces the transportation and logistics cost of metal finishing and increases profitability.
Grab your copy, or request for a free sample of the “Metal Finishing Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Add-on Services provided by Grand View Research Pipeline:
Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
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