Press release
Global Finishing Lines Market to Reach $10.38 Billion by 2029, Growing at 6% CAGR
Finishing Lines Market
The advancement of the automotive industry is anticipated to spur the expansion of the finishing lines market. Engaged in the production and selling of vehicles, the automotive industry encompasses both traditional and electric automobiles. Refinishing agents such as polyurethane, acrylic, or alkyd-based coatings are frequently in use by automotive body shops and repair centres. Within the automotive industry, finishing lines contribute to the completion of various car parts including bumpers, dashboards among others. For instance, the International Energy Agency (IEA), an autonomous organization based in France, reported that based on data from 2020, electric vehicle sales soared to 6.6 million in 2021. Moreover, in 2022's first quarter, EV sales escalated to 2 million, marking a 75% increase from the initial three months of 2021. Consequently, the flourishing automotive industry is bolstering the growth of the finishing lines market into the future.
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What Is the projected market size and growth rate for the finishing lines market?
In recent times, the market size of the finishing lines has experienced significant expansion. The forecast indicates that it will increase from $7.67 billion in 2024 to $8.12 billion in 2025, with a compound annual growth rate (CAGR) of 5.9%. Factors such as shifts in consumer expectations and industry, improvements in application methods, enhancement of quality control and efficiency, globalization and market growth, as well as environmental rules and sustainability, have contributed to the growth noted in the historic period.
In the coming years, a robust expansion is anticipated in the market size of finishing lines. It is projected to augment to $10.38 billion by 2029 with a CAGR of 6.3%. This escalation during the predicted period can be accorded to industry 4.0 and intelligent production, improvement in coating materials and methodologies, growing demands for customization, incorporation of automation and robotics, as well as global market extension. Key trends for the predicted period are innovation and adaptability of material, emphasis on safety and compliance, digitalization coupled with data-centric solutions, automation and robotics, along with cutting-edge coating technologies.
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What new trends are reshaping the finishing lines market and its opportunities?
The rising tide of technological innovation is recognized as a prevalent trend influencing the finishing line market. Key players in this industry are concentrating on the integration of advanced technologies to secure a competitive edge. A case in point is PRATI, a leading finishing solutions company based in Italy. In May 2022, PRATI unveiled its latest innovation, the DIGIFASTONE, an advanced digital finishing line employing the 'FUTURA by Prati' DIGIFASTone technology. What distinguishes this technology is its completely modular design along with the options for either S-D or D-S configurations. Moreover, it offers the convenience of fitting digital finishing and laser die-cutting machines as per the user's needs. These production lines are founded on the 'FUTURA by Prati' technology, setting a new standard for future finishing line options, in alignment with industry 4.0 demands.
What major market segments define the scope and growth of the finishing lines market?
The finishing lines market covered in this report is segmented -
1) By Component: Pre-Treatment Plants, Ovens, Paint Booths, Conveyor Systems, Control Systems, Other Components
2) By Application: Automotive Parts, Engine And Motors, Electronics And Control Panels, Furniture, Machinery, Household Appliances, Other Applications
Subsegments:
1) By Pre-Treatment Plants: Chemical Pre-Treatment Systems, Mechanical Pre-Treatment Systems
2) By Ovens: Drying Ovens, Curing Ovens
3) By Paint Booths: Crossdraft Paint Booths, Downdraft Paint Booths, Semi-Downdraft Paint Booths
4) By Conveyor Systems: Overhead Conveyor Systems, Floor-Mounted Conveyor Systems
5) By Control Systems: PLC-Based Control Systems, SCADA Systems
6) By Other Components: Filtration Systems, Exhaust Systems, Auxiliary Equipment
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Which region dominates the finishing lines market?
Asia-Pacific was the largest region in the finishing lines market share in 2024. The regions covered in the finishing lines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the finishing lines industry growth?
Major companies operating in the finishing lines market include 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, 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.
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What Is Covered In The Finishing Lines Global Market Report?
• Market Size Forecast: Examine the finishing lines market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the finishing lines market for a structured understanding.
• Key Players Overview: Analyze major players in the finishing lines market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the finishing lines market.
• Segment Contributions: Evaluate how different segments drive overall growth in the finishing lines market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the finishing lines market.
• Industry Challenges: Identify potential risks and obstacles affecting the finishing lines market.
• Competitive Landscape: Review strategic developments in the finishing lines market, including expansions, agreements, and new product launches.
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