Global Market for Metal Finishing Chemicals
Dublin, May 26, 2022 (GLOBE NEWSWIRE) -- The "Metal Finishing Chemicals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Metal Finishing Chemicals Market to Reach $11.5 Billion by 2026
The global market for Metal Finishing Chemicals estimated at US$9 Billion in the year 2020, is projected to reach a revised size of US$11.5 Billion by 2026, growing at a CAGR of 4.2% over the analysis period.
Growth in the metal finishing market is closely linked to the pace of economic growth and level of manufacturing activity, along with end-use market dynamics such as CAPEX investments in plant expansions and upgrades. In the pre-COVID period, growth was led by growing demand for wear-resistant and durable products continues to grow from various end-use industries is expected to fuel metal finishing chemicals market.
The market benefited from stable automobile production trends, robust demand for consumer electronics/appliances and the parallel increase in production activity, steady recovery of the construction sector and the resulting improvement in business climate for related markets and technologies including heavy equipment and machinery.
There was growing adoption of eco-friendly measures to ensure compliance with stipulated regulations. After the temporary hiatus in growth caused by the pandemic, the market will bounce back given the already existing strong commercial value of environmentally safe industrial metal finishing chemicals like cleaners and degreasers.
Plating Chemicals, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$4.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cleaning Chemicals segment is readjusted to a revised 4.8% CAGR for the next 7-year period.
This segment currently accounts for a 25.9% share of the global Metal Finishing Chemicals market. Copper plating chemicals are expected to witness strong growth in demand, mainly due to the increasing use of copper interconnect technology. Cleaning chemicals segment is forecast to grow at the fastest led by their growing acceptance in several end-use sectors including industrial machinery, construction, aerospace, automotive, manufacturing and electrical & electronics. Cleaning chemicals continue to find increasing demand, due to their ability to remove metal oxides, carbon smut, lapping compounds, and oils and coolants that are deposited over metal surfaces during metal finishing processes.
The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $1.8 Billion by 2026
The Metal Finishing Chemicals market in the U.S. is estimated at US$2.2 Billion in the year 2021. The country currently accounts for a 24.27% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.8 Billion in the year 2026 trailing a CAGR of 6.6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR while Rest of European market (as defined in the study) will reach US$1.9 Billion by the end of the analysis period.
The US remains a major market for metal finishing chemicals due to the presence of a large number of production facilities operated by automobile and electronics industry participants. European metal finishing chemicals market is forecast to record stable growth led by countries such as France, Spain and Italy, and the steady growth being seen in the manufacturing industry. Asia-Pacific ranks as the fastest growing regional market driven by industrial machinery, aerospace and automotive industries which are in their developing phase.
Conversion Coatings Segment to Reach $2.4 Billion by 2026
Conversion coatings are usually thin layers, which make the metal surface highly corrosion resistant and allow applied coatings to persist. Conversion Coatings significantly enhances the adhesive property of the metal surface and also prevents degradation.
In the global Conversion Coatings segment, USA, Canada, Japan, China and Europe will drive the 3.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$265.3 Million by the year 2026, while Latin America will expand at a 5.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Surface Preparation: An Important Part of the Metal Products Manufacturing Process
These are Times When Questions Abound & Answers Are Few
So How Fast Or Slow Are We Moving?
A Strong 2021 Economic Rebound Based On Pent-Up Demand Comes as a Relief for Suffering Industries & Markets
Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes
A Retrospective Review of Year 2020 as the Worst Year in Humanity's History that Left the World in Shambles & Industries and Markets Upended
How Major End-Use Industries Are Impacted by the Pandemic & What's the New Normal?
Automotive End-Use Industry
Manufacturing & Machinery End-Use Industry
Semiconductor End-Use Industry
Electronics End-Use Industry
Aerospace Manufacturing End-Use Sector
How Will the Scenario in These End-Use Industries Pan Out for the Metalworking Industry Now & Going Forwards?
Metal Finishing Chemicals: Definition, Scope, Types & Applications
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 139 Featured)
Advanced Chemical Company
Atotech Deutschland GmbH
Coral Chemical Company
DuPont de Nemours, Inc.
Element Solutions Inc.
Houghton International, Inc.
NOF Metal Coatings North America
PPG Industries, Inc.
Quaker Chemical Corporation
3. MARKET TRENDS & DRIVERS
Here's What to Expect in the Post COVID-19 Market
Revival of Major End-Use Markets Will Spur Demand Recovery for Metal Finishing Chemicals
Aerospace Manufacturing to Revive as Travel Restrictions Ease
Increased Manufacturing Activity & MRO Operations Will Spur Parallel Increase in Demand for Metal Finishing Chemicals
Automobile Production to Recover as Economy Rebounds
Electronics Production to Jump Post Pandemic, Thanks to Pandemic Induced Digitalization & Electronification
Environmental Concerns & Strict Anti-Pollution Laws Plague Future Growth Outlook
Electroplating Chemicals Bear the Brunt of Growing Environmental Concerns
Hexavalent Chrome Plating Buckles Under Environmental Pressures
Non-Chrome Passivation (NCP) Emerges as an Alternative to Hexavalent Chromium
Migration to Eco-Friendly Metal Finishing Chemicals Catches Fire as the Heat Turns Up on Inorganic Chemical Solutions
Bio-Based Industrial Metal Cleaning Chemicals Witness Encouraging Gains
Environmental Advantages Spur the Popularity of Powder Coatings
Automation Trends Emerge High Over Surface Finishing Processes. Here is What the Market is Experiencing
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/h76yeq
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