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Coated Engraved And Heat Treated Metal Products Market Overview, Outlook, Size, Share, Demand 2024-2033
Coated Engraved And Heat Treated Metal Products Market Overview
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According to The Business Research Company's, The coated, engraved, and heat treated metal products market size has grown strongly in recent years. It will grow from $206.12 billion in 2023 to $217.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to industrialization, automotive industry growth, architectural applications, consumer electronics.
The coated, engraved, and heat treated metal products market size is expected to see strong growth in the next few years. It will grow to $266.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to sustainable manufacturing, customization and personalization, emerging technologies, lightweight materials, urbanization and infrastructure development. Major trends in the forecast period include nanocoatings, laser engraving, heat treatment automation, multi-material integration, recyclable and circular economy practices.
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Market Drivers and Trends:
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, aluminium, and magnesium are some of the metals commonly used in the automotive industry for manufacturing body panels, engines, transmissions, and numerous other parts. For instance, in April 2023, according to a report published by the Alliance for Automotive Innovation, a US-based trade association, sales of light trucks made up 79% of all sales in March 2023. Production of light vehicles in the United States rose by 6% from one month to the next in February 2023, totalling 873,247 vehicles (147,870 automobiles and 701,972 light trucks). Therefore, the rise in demand for automobiles during this period, positively impacted the coating, engraving, heat treating, and allied activities market.
Laser engraving system technology is being highly used by the companies involved in the engraving etching and chasing of metals. Laser engraving and laser etching are contact-free, reduce surface damage, are durable, and are safer than toxic solvents, inkjet, and acids. Laser engravings are faster than hand engraving, and dot-peen markings. Its applications comprise product labelling and coding in the electronics industry (mobile phones, tablets, etc.), tool construction, and medical technology.
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Major Key Players of the Market:
Bodycote plc, Valmont Industries Inc., Voestalpine AG, Womble Company Inc, NCI Building Systems Inc., Industrial Steel Treating Company, Foresight Finishing LLC, Queen City Steel Treating Co., S.M. Engineering & Heat Treating Inc., General Metal Heat Treating Inc., Scarrott Metallurgical Company, Accurate Steel Treating, Rizhao Steel, CITIC Limited, Fangda Steel, Liuzhou Steel, Inner Mongolia Baotou Steel Union Co. Ltd., Summit Stairs and Millwork of Charlotte Inc., Fini USA Corp., Qure Medical, Cap Yarns LLC, Oldcastle Glass, Wikoff Color Corporation, C-A-T Resources LLC, C.M. Steel Inc., Ambassador Packaging Inc., Superior Washer & Gasket Corp, PBI Products Inc., Hy-Power Coatings Ltd, Tilton Industries Inc, Aalberts Industries N.V., American Roller Company, ArcelorMittal, BlueScope Steel Limited, Canam Group Inc.
Coated Engraved And Heat Treated Metal Products Market 2024 Key Insights:
• The coated, engraved, and heat treated metal products market size is expected to see strong growth in the next few years. It will grow to $266.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
• Automotive Industry Growth Drives Prosperity In Coating, Engraving, Heat Treating, And Allied Activities Market
• Transformation Of Metal Engraving And Etching With Laser Technology
• The Asia-Pacific was the largest region in the coated, engraved, and heat-treated metal products marketing 2022
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