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Finishing Lines Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Finishing Lines Market 2024 Report
According to The Business Research Company's, The finishing lines market size has grown strongly in recent years. It will grow from $7.28 billion in 2023 to $7.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to customer expectations and industry shifts, advancements in application techniques, quality control and efficiency enhancement, globalization and market expansion, environmental regulations and sustainability..
The finishing lines market size is expected to see strong growth in the next few years. It will grow to $9.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to industry 4.0 and smart manufacturing, advancements in coating materials and techniques , rise in customization demands, automation and robotics integration, global market expansion.. Major trends in the forecast period include material innovation and adaptability, safety and compliance focus, digitalization and data-driven solutions, automation and robotics, advanced coating technologies..
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Market Drivers and Trends:
The growth of the automotive sector is expected to propel the growth of the finishing lines market going forward. The automotive sector is involved in the manufacturing and sale of vehicles and includes conventional as well as electric vehicles. Automotive body shops and repair facilities use coatings with polyurethane, acrylic, or alkyd bases as refinishing agents. In the automotive sector, finishing lines are utilized in the finishing of car parts such as bumpers, dashboards, and other components. For instance, in May 2022, according to the International Energy Agency's (IEA) report, a France-based autonomous intergovernmental organization, as per 2020 data, electric vehicle sales reached 6.6 million in 2021. Further, in the first quarter of 2022, EV sales reached 2 million, a 75% increase compared to the first three months of 2021. Therefore, the growth of the automotive sector is driving the growth of the finishing lines market going forward.
Technological advancements have emerged as a key trend gaining popularity in the finishing line market. Major companies operating in the finishing lines sector are focused on introducing new technologies to gain a competitive advantage. For instance, in May 2022, PRATI, an Italy-based finishing solutions provider, launched the DIGIFASTONE, a digital finishing line based on the FUTURA by Prati DIGIFASTone technology. This technology stands out for its entirely modular design, availability in S-D or D-S configurations, and ability to install digital finishing and laser die-cutting machines according to requirements. They are production lines built on the ""FUTURA by Prati"" technology, which establishes the benchmark for the next generation of finishing options in line with industry 4.0 requirements.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Graco Inc.; J. Wagner GmbH; Nordson Corporation; Spray Equipment & Service Center Inc.; Wewin Finishing Equipments Private Limited; Reliant Finishing Systems LLC; Blasdel Enterprises Inc.; Crescent Bronze Powder Co. Inc.; Finish Line Industries Inc.; Industrial Finishes and Systems Inc.; Valmont Industries Inc.; Cornerstone Building Brands Inc.; Steel Technologies LLC; Precoat Metals Inc.; Worthington Industries Inc.; ABB Ltd.; Fives Group; Bühler Group; Eisenmann SE; Andritz AG; Cefla Finishing Group S.p.A.; Dürr AG; Valco Melton Inc.; Colordyne Technologies LLC; Komax Holding AG; X-Rite Incorporated; KraussMaffei Group GmbH; Körber AG; Marel hf.; LVD Company nv; Autoliv Inc.; Atlas Copco AB; Metso Outotec Corporation; Reiter Group GmbH; FANUC Corporation; Fette Compacting GmbH; Müller Martini Holding AG; Rittal GmbH & Co. KG; Bystronic Laser AG; Krones AG; Marabu GmbH & Co. KG; The Bradbury Co. Inc.
Finishing Lines Market 2024 Key Insights:
• The finishing lines market will grow to $9.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Automotive Sector Surge Fuels Growth In The Finishing Lines Market
• Revolutionizing The Finishing Line Market
• Asia-Pacific was the largest region in the finishing lines market share in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide
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