The Global Metal Finishing Chemicals Market is Projected to Reach US$15.3 Billion by 2024

Rising Demand for Sustainable Solutions Continues to Stimulate 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 Metal Finishing Chemicals market is projected to reach US$15.3 billion by 2024, driven by the growing demand for wear resistant and durable products from various end-use markets. The implementation of strict environmental legislations and the ensuing focus on sustainable solutions also augurs well for the metal finishing chemicals market.

Surface preparation, comprising metal finishing, is the staple of modern metal manufacturing sector. The ability of metal finishing process, where a thin layer of metal, polymer film or alloy deposit is applied on manufactured product, to prevent corrosion, lengthen product life and durability, and enhance performance, effectiveness and aesthetic appeal continues to fuel demand for metal finishing chemicals. An array of metal finishing chemicals is currently available in the market that aid in metal surface preparation across a range of industries including automotive, electronics, aerospace, hardware, jewelry, heavy equipment, appliances, tires, and telecommunications.

The global market for metal finishing chemicals is witnessing stable growth, led by increasing demand for wear-resistant and durable products from various end-use industries. Market fortunes are 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. The market thereby stands to benefit 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. The growing need for long-lasting, durable, wear-resistant and aesthetically appealing metal-based products remains a major factor driving innovation in metal finishing chemicals.

Over the years, the environmental performance of metal finishing industry has witnessed significant improvements, driven by the adoption of stringent regulations. Strict penalty driven implementation of these regulations, specifically in the US and Europe, is driving the phase out of chemicals that are regarded as toxic and hazardous to the health and environment. Other factors driving interest in sustainable solutions include increasing awareness and rise of voluntary environmental stewardship in the manufacturing sector. Manufacturers are injecting resources into the development of solutions with organic acid blends that are non-toxic, non-caustic, and non-flammable.

As stated by the new market research report on Metal Finishing Chemicals, the United States represents the largest regional market, worldwide. The U.S. market benefits from the presence of a large number of production facilities operated by automobile and electronics industry participants. Further increasing investments into residential construction sectors, and rising demand from aerospace and electrical and electronics industries are also favoring market growth. Asia-Pacific is forecast to register the fastest CAGR of 6.3% over the analysis period, driven by the rapid growth of industrial machinery, aerospace and automotive industries. The increasing automotive manufacturing activity in countries such as China, Thailand, India and Indonesia, the expanding electrical and electronics sector in nations such as China, Taiwan, Japan, Korea and India, along with favorable government policies are expected to aid growth of metal finishing chemicals market in the region.

Major players in the market include Advanced Chemical Company, Atotech Deutschland GmbH, Chemetall, Coral Chemical Company, DowDuPont Inc., Elementis plc, Houghton International Inc., McGean-Rohco Inc., NOF Metal Coatings North America, Platform Specialty Products Corporation, MacDermid Performance Solutions, 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. The report analyzes the market by the Product Segments - Plating Chemicals, Conversion Coatings, Cleaning Chemicals and Proprietary Additives & Others. End-Use Applications analyzed include Electronics & Electrical, Aerospace, Automotive, Industrial Machinery and Others.

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