According to Future Market Insights (FMI), the global mass finishing consumables market registered a year-on-year (YoY) growth of 4.7% in 2021. Demand in the mass finishing consumables market is projected to grow at a value of 4.9% CAGR between 2022 and 2029. Future Market Insights (FMI) forecasts the market value to top USD 206.8 Million in 2022.
| Attribute | Details |
|---|---|
| Mass finishing consumables Value (2021A) | USD 197.2 Million |
| Mass finishing consumables Value (2022E) | USD 206.8 Million |
| Mass finishing consumables Value (2029F) | USD 288.7 Million |
| Value CAGR (2022 to 2029) | 4.9% |
| Collective Value Share: Top 3 Countries (2021A) | 43.7% |
Heightened demand for surface finishing from end-use industries, along with a preference for in-house surface finishing with growing usage of digital control systems will continue pushing sales in the mass finishing consumables market. Considering this, FMI has forecast the global mass finishing consumables sales to reach a valuation of USD 288.7 Million in 2029.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 5.0% |
| H1,2022 Outlook (O) | 5.2% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 70 ↑ |
Future Market Insights presents a thorough study of the worldwide mass finishing consumables market for the preceding two years based on a six-month timeframe in this half-yearly research.
The study demonstrates how the anticipated CAGR from its previous report compares to the actual and updated CAGRs after taking into account all the macro-economic trends and industry trends changes that have occurred this year. According to the study, the business has grown quickly as a result of the increased demand for consumables for mass finishing across several end-use industries.
Sales of Mass Finishing consumables have recently surged as a result of the sharp growth in demand for surface-finishing products. According to FMI analysis, the variation between the BPS values observed in the mass finishing consumables market in H1, 2022 - Outlook over H1, 2022 Projected reflects a hike of 20 units. Moreover, compared to H1, 2021, the market is expected to spike by 70 BPS in H1 -2022.
Substantial growth in the manufacturing industry has been observed worldwide. Mass finishing consumables find a key role in metal production. Mass finishing operations are known to enhance the finishing of the metal products produced. With the increase in metal fabrication demand, sales of mass finishing consumables are also growing at a rapid pace.
Despite such high growth prospects of mass finishing consumables, certain challenges lie ahead in the success path for the growth of the market. Cutting-edge manufacturing technologies have made high-precision manufacturing possible which is expected to shrivel the growth rate of mass finishing consumables over the forecast period.
Sales of mass finishing consumables increased at a 4.7% CAGR, between 2014 and 2021, with countries such as the USA, China, Japan, Canada, and Germany accounting for a substantial portion of the global market. Sales prospects in 2020 and 2021 were dampened due to the outbreak of the COVID-19 pandemic, which reduced the demand for mass finishing consumables from several end-use domains such as automotive, aerospace, and construction.
Increasing demand for aesthetic and decorative as well as smooth finish parts and components for various operations and applications are likely to enhance the consumption of mass finishing media across various end-use industries.
Trade policy upgrades, increasing application areas, and advancing e-commerce are also expected to bode well for the global mass finishing consumables market in the forthcoming years. As a result, the mass finishing consumables market is projected to grow by value, at a 4.9% CAGR during the forecast period of 2022 to 2029.
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Across the globe, the manufacturing sector is an essential component of the gross domestic product and holds more than a 16% share of the global economy. According to the Manufacturers Alliance for Productivity and Innovation (MAPI) Foundation, manufacturing is forecasted to witness faster growth than the general economy. Moreover, increased capital growth and higher exports are also expected to boost manufacturing and product production.
Favorable government conditions for manufacturers such as tax cuts, increased productivity, rising wages in emerging markets, etc., will accelerate the manufacturing sector growth in the upcoming years. Mass finishing consumables are utilized across various industries for the metal finishing, which makes up a major chunk of manufacturing processes in different industries.
The surge in manufacturing to meet the constant demand from the population is expected to provide an impetus to the demand for mass finishing consumables and urge manufacturers to boost their production and supply of the consumables.
As per FMI, China is projected to account for nearly one-fourth of the global market share, creating an incremental opportunity of above USD 26.2 Million in 2029.
China is expected to remain the top-notch producer of mass finishing consumables across the globe. The country is a global leader in the automotive industry and is severely increasing production in the same, in the coming years. This is expected to augment the growth of the mass finishing consumables market in China.
The USA is projected to account for approximately 67.5% of the North American mass finishing consumables market in 2029. In 2022, the market is expected to grow by 4.9% year-on-year, reaching a valuation of USD 26.1 Million by the end of 2022.
In the USA, the domestic medical device manufacturing industry is very robust and hosts some of the largest med-tech corporations in the world. This is an important factor propelling the demand for mass finishing consumables in North America. Moreover, the presence of leading companies like Kramer Industries Inc. and Washington Mills is expected to bolster the growth of this chemical in the country.
Germany is projected to account for 28.5% of the Europe mass finishing consumables market share in 2029. The country is home to some leading players in the mass finishing consumables market. Companies such as Rösler Oberflächentechnik GmbH, and OTEC Präzisionsfinish GmbH, with their profit-bearing growth strategies and product innovations, are expected to propel sales of mass finishing consumables over the assessment period.
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Sales of ceramic mass finishing consumables are expected to grow at an impressive value of 5.2% CAGR, over the forecast period of 2022 to 2029.
Ceramic mass finishing consumables are becoming increasingly preferred with future projections of the market indicating a higher demand for the same in the near future. This increase in sales can be attributed to the excellent thermal and electrical insulation properties of ceramic mass finishing consumables.
Ceramic media are most commonly used for deburring, radioing, and descaling, but can be used for cleaning, burnishing, and surface refinement as well. These are available without abrasives for polishing, and with extremely aggressive abrasives to process parts with heavy burrs, sharp edges, or deep machine lines. Owing to these factors, sales of ceramic mass finishing consumables are projected to increase over the forecast period.
Amongst the various applications, the deburring segment is projected to create an absolute dollar opportunity of more than USD 25.4 Million during the period of 2022 to 2029 and account for close to two-fourths share in the global mass finishing consumables market.
Deburring has the widest application in the mass finishing process due to the must requirement of removing raised particles and shavings from the produced product surfaces. This will continue providing tailwinds to mass finishing consumables sales over the assessment period.
The automotive end-use industry segment is projected to account for more than 27.7% of the total market share by 2029. The sales are anticipated to experience a year-over-year rate of 5.6% in 2022.
The rising on-road fleet has created a surge in requirement for surface finishing for automotive, resulting in lucrative growth opportunities for the mass finishing equipment, which in turn, is expected to propel the demand for mass finishing consumables for various manufacturing operations. Moreover, robotic finishing machines are also used in manufacturing industries such as automotive manufacturing plants, the aerospace industry, and medical equipment, among others. Therefore, the growing demand for robots is expected to stimulate the sales of mass finishing equipment in the upcoming years.
Leading players operating in the mass finishing consumables market are investing in strategic acquisitions, and are focusing on the development and launch of new brands for mass finishing consumables. Apart from this, players are focusing on expanding their production capacities to serve more end users, in order to gain a competitive edge.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2016 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand, GCC Countries, Northern Africa, and South Africa |
| Key Segments Covered | Media Type, Application, End-use Industry, and Region |
| Key Companies Profiled | Rösler Oberflächentechnik GmbH; Norican Group; Sintokogio, Ltd.; Washington Mills; Kramer Industries Inc.; OTEC Präzisionsfinish GmbH; Abrasive Finishing Inc.; UM Abrasives Co.; Vibra Finish Company; Walther Trowal LLC; Advanced Finishing Technologies; Rotomex S.A. de C.V.; Spaleck Oberflächentechnik GmbH & Co. KG.; Tipton Corp. |
| Report Coverage | Market Forecast, Brand Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The mass finishing consumables market reached a valuation of USD 197.2 Million in 2021.
The mass finishing consumables market experienced moderate growth, exhibiting a 4.7% CAGR between 2014 and 2021.
An increase in strategic acquisitions, the adoption of new technologies to increase the flow of media, and a growing preference for non-metallic abrasives over metallic ones are driving sales of mass finishing consumables.
China's mass finishing consumables market is projected to grow at an impressive 6.3% CAGR during the forecast period.
The mass finishing consumables market in North America is anticipated to hold a market share of 18.7% by the end of 2029.
The USA is anticipated to hold a market share of 12.6% in the global mass finishing consumables market share by 2029.
1. Executive Summary 2. Market Introduction 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2014 to 2018 and Forecast, 2019 to 2029 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2014 to 2018 and Forecast, 2019 to 2029 8. Market Viewpoint 9. Global Market Analysis 2014 to 2018 and Forecast 2019 to 2029 By Media Type 9.1. Ceramic 9.2. Plastic 9.3. Steel 9.4. Aluminium Oxide 9.5. Others 10. Global Market Analysis 2014 to 2018 and Forecast 2019 to 2029 By Application 10.1. Deburring 10.2. Pressure Deburring 10.3. Grinding 10.4. Polishing 10.5. Cleaning & Degreasing 10.6. Descaling, Corrosion & Rust Removal 10.7. Ball Furnishing 10.8. Surface Finish & Refinement 11. Global Market Analysis 2014 to 2018 and Forecast 2019 to 2029 By End-Use Industry 11.1. Automotive 11.2. Aerospace 11.3. Construction 11.4. Machine Tooling 11.5. General Manufacturing 11.6. Jewelry and Accessories 11.7. Healthcare 12. Global Market Analysis 2014 to 2018 and Forecast 2019 to 2029 By Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. South Asia 12.5. East Asia 12.6. Oceania 12.7. Middle East and Africa 13. North America Market Analysis 2014 to 2018 and Forecast 2019 to 2029 14. Latin America Market Analysis 2014 to 2018 and Forecast 2019 to 2029 15. Europe Market Analysis 2014 to 2018 and Forecast 2019 to 2029 16. South Asia Market Analysis 2014 to 2018 and Forecast 2019 to 2029 17. East Asia Market Analysis 2014 to 2018 and Forecast 2019 to 2029 18. Oceania Market Analysis 2014 to 2018 and Forecast 2019 to 2029 19. Middle East and Africa Market Analysis 2014 to 2018 and Forecast 2019 to 2029 20. Emerging Countries Market Analysis 2014 to 2018 and Forecast 2019 to 2029 21. Market Structure Analysis 22. Company Profiles (Details – Overview, Financials, Strategy, Recent Developments) 22.1. Rösler Oberflächentechnik GmbH 22.2. Kramar Industries Inc. 22.3. Norican Group 22.4. Sintokogio, Ltd. 22.5. OTEC Präzisionsfinish GmbH 22.6. Abrasive Finishing Inc (Fortune) 22.7. UM Abrasives 22.8. Vibra Finish Company 22.9. Washington Mills 22.10. Walther Trowal, LLC 22.11. Advanced Finishing Technologies 22.12. Tipton Corp. 22.13. Rotomex S.A. de C.V. 22.14. Spaleck Oberflächentechnik GmbH & Co. KG 23. Assumptions & Acronyms 24. Research Methodology
Chemicals & Materials
October 2023
REP-GB-6134
309 pages
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Mass Finishing Consumables Market
