The Global Market for Metal Finishing Chemicals is Projected to Reach US$14.6 Billion by 2022

Demand for Eco-Friendly Solutions Spurs Opportunities for Growth in the Global Metal Finishing Chemicals Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Metal Finishing Chemicals market. The global market for Metal Finishing Chemicals is projected to reach US$14.6 billion by 2022, driven by stringent environmental legislations and the ensuing search for sustainable solutions.

Surface preparation is the staple of the modern metal processing sector. Metal products, parts and components manufactured need to be prepped and readied in the final stage of production for reliable and durable use across all end-use markets. Surface preparation, which includes metal finishing, is a process that involves the application of a thin layer of metal, polymer film or alloy deposit on the manufactured product. Surface preparation offers numerous benefits such as a smoother surface, corrosion protection, increase in product longevity and durability, and superior performance, effectiveness and aesthetic appeal, among numerous others. Longer metal life ranks as the most important benefit offered by metal finishing processes. Metal finishing also imparts brightness, color and shine, torque tolerance, solderability, tarnish resistance, chemical resistance, abrasion resistance, vulcanizing abilities, and hardness. Industries that widely use metal finishing as part of their manufacturing processes include automotive, electronics, aerospace, hardware, jewelry, heavy equipment, appliances, tires, and telecommunications. Few of the established processes for metal finishing include electroplating, electroless plating and immersion plating, chemical and electrochemical conversion, cladding, case hardening, dip/galvanized coatings, electropolishing, and metallic coatings.

Driven by stringent regulations, the environmental performance of the metal finishing industry has witnessed significant improvements. Strict penalty driven implementation of these regulations, specifically in the U.S. and Europe, is driving the phase out of chemicals that are regarded as toxic and hazardous to the health and environment. There is growing adoption of eco-friendly measures to ensure compliance with stipulated regulations. Other factors driving interest in sustainable solutions include increasing awareness and rise of voluntary environmental stewardship in the manufacturing sector. Against this backdrop, there currently exists strong commercial value for environmentally safe industrial metal finishing chemicals like cleaners and degreasers. Manufacturers are injecting resources into the development of worksafe solutions with organic acid blends that are non-toxic, non-caustic, and non-flammable. The trend is also benefiting the market prospects for powder coatings, which are known for their eco-friendly and resource efficiency benefits. Powder coatings are free of VOCs and solvents, a key feature supporting their popularity in a wide range of applications, especially those that are highly regulated. Despite the long-term opportunities for growth led by electronics production, growing demand for metal body smartphones, stable automobile production and projected gains in the aviation sector, the anemic YoY gains in global GDP and continuous trimming in growth forecasts is creating a taut and challenging business climate in the manufacturing industry. As the manufacturing industry walks an economic tight rope, metal finishing chemical manufacturers are treading on egg shells balancing volatility against growth.     

As stated by the new market research report on Metal Finishing Chemicals, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.7% over the analysis period, led by factors such as continued industrialization, expansion of the manufacturing base especially in the field of electronics and automobiles, and growing investments in modernization of manufacturing infrastructure in countries such as China, India, Taiwan to ensure global competitiveness.     

Major players in the market include Advanced Chemical Company, Atotech Deutschland GmbH, Chemetall, Coral Chemical Company, Dow Chemical Company, Elementis Chromium LP, Houghton International Inc., McGean-Rohco Inc., NOF Metal Coatings North America, Platform Specialty Products Corporation, Enthone Inc., MacDermid Incorporated, PPG Industries, and Quaker Chemical Corporation, among others.

The research report titled “Metal Finishing Chemicals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and Latin America. Product segments analyzed include Plating Chemicals, Conversion Coatings, Cleaning Chemicals, and Proprietary Additives & Others. Metal finishing chemicals market is also analyzed by the following end-use applications - Electronics & Electrical, Aerospace, Automotive, Industrial Machinery, Others.

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