Surface Technology Market Analysis

Surface Technology Market Overview

Surface Technology Market Size was valued at 344718.60 million in 2023. The Surface Technology industry is projected to grow from 34862.02 million in 2024 to USD 493297.71 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.98% during the forecast period (2024–2032).

The prime drivers of the global surface technology market include the extensive demand from the aerospace and defense industry. The growth of the aerospace industry on the backdrop of increased tourism and business travels; both international and domestic, fuel the demand for surface technology to protect for corrosion, finishing and anodizing, as well as new aircraft manufacturing. The increasing demand from automotive industry due to the rising disposable income and rising trend of electric vehicle across the globe also drive the market. Apart from this, the use of Surface technology as an effective alternative of electroplating, electroless plating, and other coating processes, drive the global market.

COVID-19 Impact on the Surface Technology Market:

COVID-19 has had a substantial impact on the industrial sectors such as aerospace, automotive, food & beverages, building & construction, and others sectors as it is causing widespread concern and economic deprivation of industries and individuals all over the globe. As the demand for Surface technology has declined due to production shutdowns, lockdowns imposed in several countries, and disruptions in the supply chain, many OEM manufacturing companies have witnessed drastic declines in revenue. This has had a severe impact on economic activities, resulting in job losses and salary deductions of individuals across supply chains. The outbreak of COVID-19 across regions has resulted in a lockdown of cities, border restrictions, and breakdown of transportation networks. This is projected to have a significant impact on the chemicals & materials supply chains, international trade, and manufacturing operations across the world. All this has caused severe disruptions in production and trade restrictions, significantly affecting Surface technology demand into the market. However, the global Surface technology market had no significant impact as ceramics are one of Surface technology's major applications.

Market Dynamics

• High demand in the aerospace and defense industry: In the aerospace & defense industry, with the growing demand for fuel-efficient vehicles, the use of surface coating technology and materials is increasing. Surface technology are used in gas turbine engines, air vessels, rocket exhaust cones, insulating tiles, space shuttles, structural, hardware, engine components, etc. The surface coating technologies help to extend the operational life of the components in harsh environments. The most used Surface technology in the aerospace and defense industry include plasma transferred arc (PTA) welding, laser cladding, powder welding, flame spraying, high-velocity flame spraying (HVOF), and plasma spraying. The process protects air vessels from corrosion, icing, contaminants, and any accidental damage and thus helps save maintenance costs.

• Fluctuations in raw material availability: Coating materials available for surface technology include metals, alloys, ceramics, plastics, and composites. Metals such as aluminum, steel, nickel, and copper are used for producing surface technology. Alloys used for surface finishing include tungsten, chrome, titanium, and nickel carbides, while high-velocity oxygen fuel (HVOF) coatings, ceramics coatings and other processes include chrome oxide, pure alumina, alumina titanium dioxide, and zirconia yttria. The availability of these raw materials depends upon various factors such as environmental conditions, geopolitical issues, and regulations on mining and processing.

• Surface technology for additive manufacturing :Additive manufacturing (AM) as a high-tech industry is still evolving though it has already gained importance in the manufacturing sector. With the increased demand for meeting customer needs in terms of product quality and variety, AM technology has been upgraded from rapid prototyping to rapid manufacturing. Additive manufacturing is available for any material, including metals, plastics, and biomaterials. Metals have been the traditional materials in the manufacturing sector for centuries.

Segmentation

By Type

• High Velocity Oxygen Fuel (HVOF) Coatings


• Plasma


• Ceramic Coatings


• Anodizing


• Vapor Phase Aluminate


• Slurry Coatings


• Others

By Application

• Aerospace
  
  
  
  • Engine
  
  
  • Structural
  
  
  • Hardware
  
  
  • Others
  
  
  
  


• General Industrial
  
  
  
  • Wind Turbine
  
  
  • Land Bases
  
  
  • Marine & Defense
  
  
  
  


• Automotive


• Power Generation


• Building & Construction


• Oil & Gas Pipeline


• Food & Beverages


• Textile


• Paper & Packaging


• Metallurgy & Minerals


• Others

By Region

• North America


• Europe


• Asia-Pacific


• Latin America


• Middle East & Africa

Regional Analysis

Geographically, the global surface technology market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia-Pacific accounted for the second-largest share of the global market, wherein China, India, and Japan are the major contributors to the regional consumption. The market is primarily driven by the surge in demand for surface technology from the aerospace and automotive industries. Metallurgy industry in Asia-Pacific is being driven by the growth in demand for metal-based automobile parts as well as the growing demand for fuel-efficient automobiles. Over the forecast period, increased financing for research and development and standardization of technologies are expected to boost the surface technology market growth.

North America held the significant share in the market due to technical improvements and rising acceptance of technology in a diverse range of sectors. Furthermore, increasing demand from various end-use industries, particularly the aerospace and defense sector, increasing penetration of surface technology in power generation, oil & gas, and automotive, growth in demand for fuel-efficient vehicles, and rapidly increasing global industrialization are major growth drivers for the surface technology market.

The rising automotive industry in Latin America, the Middle East, and Africa is likely to offer attractive prospects over the forecast period. Booming demand for Surface technology, especially in countries such as Brazil, and Mexico, is expected to escalate the growth of the market. Further, the surging demand for high quality metal in the Middle East and Africa region is expected to propel the growth of the surface technology market. Metal is primarily used in the aerospace and automotive industry to give a great performance.

Competitive Landscape

The rising demand for surface treatments in industries such as automotive, heavy machinery, aerospace, and defense is propelling this market forward. The automotive industry is a significant end user of surface treatment services, accounting for more than 18% of the global surface technology services market. The global surface technology market is extremely lucrative, appealing, and profitable for both existing players and new entrants. Simultaneously, fierce rivalry among existing competitors has been observed. According to our findings, market participants have used various strategies such as strategic agreements, acquisition, and expansion to improve their business and position in the global surface technology market.

Key players in the surface technology market are Bodycote, DOWA Thermotech Co., Ltd., Schaeffler Group, Linde Plc, Aalberts Surface technology, Guangdong Strong Metal Technology Co., Ltd, Harterei Reese, FPM Heat Treating, Paulo, Surface Technology, Inc.

Report Recent Development

February 2023- BASF has announced the opening of the biggest surface technology site in China. The company stated that its Surface Treatment global business unit, which functions under the Chemetall brand, established its state-of-the-art surface treatment manufacturing facility in Pinghu, Zhejiang Province, China, on November 22, 2023. The 60,000 m2 facility in Pinghu is BASF's first manufacturing facility in the Dushan Port Economic Development Zone and the biggest surface technology site across the globe. The head of BASF's Coatings division, Uta Holzenkamp, said that in July 2023, the company grew its manufacturing capacity for automotive refinish coatings at its facility in Jiangmen, Guangdong Province. Now, the company is celebrating the inauguration of its latest surface technology facility in Pinghu. They are deliberately close to their clients, allowing them to cater to local demand with their advanced and proven solutions. The company focuses on being a growth-oriented leader in surface technology, offering sustainable solutions, expertise, services, and innovations that support their customers in several areas, including China, and in their key growth market. He further added that it is the world's most rapidly growing market for surface technology, and China contributes to nearly 50% of the market in Asia. They feel that the Chinese market will witness substantial development rates in the medium to long term. By confining its advanced solutions and processes like Oxsilan thin-film technology, the company plans to empower its prominence in China. It can substantially shorten delivery times for their domestic customers. The Pinghu site, built to be a smart factory, allows a high level of process automation and end-to-end digitalization of processes at the site for high efficiency in site logistics and production.

Objectives of the Study

• To get a comprehensive overview of the global surface technology market


• To get wide-ranging information about the key factors driving the market and market opportunities


• To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments


• To gain insights about the key country/region in which the market is growing

Intended Audience

• Industrial sector


• Automotive Industry


• Pakaging sector