The global metal finishing chemical market is expected to
reach USD 13.52 billion by 2025, according to a new report by Grand View
Research, Inc. Growing passenger car and commercial vehicle production in
countries including Spain, France, India, China, Indonesia and Mexico is expected
to drive market demand.
The increasing requirement for
protection against corrosion is likely to fuel the demand for metal finishing
chemicals. In addition, continuous investments in R&D for the development
of efficient, cost effective, environment friendly plating technologies by
various manufacturers including DOW Chemicals, Atotech Deutschland GmbH is
expected to create immense market potential over the forecast period.
Cleaning chemicals is expected to
witness the fastest growth at CAGR 5.1% from 2017 to 2025 owing to its rising
usage in automotive, construction, industrial, aerospace, electronic &
electrical and manufacturing sectors.
Asia Pacific was the third
largest market metal finishing chemicals and accounted for 27% of the overall
market revenue in 2016 and is anticipated to witness the fastest growth at a
CAGR 6.3% owing to increasing automotive manufacturing in various countries
including India, China, Indonesia and Thailand.
U.S. metal finishing chemicals
market revenue by application, 2014 - 2025 (USD Million)
Browse full research report on Metal Finishing Chemicals Market:
Further key findings from
the report suggest:
- Plating
chemicals were the dominant product segment and accounted for 40.9% of the
overall market revenue in 2016 owing to increasing usage in electroplating
and electroless plating processes.
- The demand
for metal finishing chemicals in the construction sector is expected to
witness reasonable growth at CAGR 4.3% from 2017-2025 owing to the rapid
industrialization and growing building & construction sector in
emerging economies including China, India and Mexico.
- North America
was the dominant region and accounted for 32.6% of the overall market
revenue in 2016 and is anticipated to show substantial growth considering
increasing automotive production and growing construction sector in Mexico
& U.S.
- Stringent
regulatory framework regarding toxicity of metal finishing chemicals has
compelled manufacturers to adopt environment-friendly, sustainable
materials & products and switch to greener process chemistries.
- In May 2017,
Atotech developed Nichem HP 1151. This product offers a lead & cadmium
free formulation and exhibits improved wear resistance, corrosion
resistance and quality.
- The presence
of major players in the market including Atotech Deutschland GmbH,
Chemetall (BASF), DOW Chemicals, Platform Specialty Products Corporation,
Elementis, Quaker Chemicals, Coventya, Houghton Inc and Advanced Chemical
Company is expected to augment industry size.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-metal-finishing-chemicals-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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