The global metal finishing chemicals market size is expected to reach USD 13.52 billion by 2025, according to a new report by Grand View Research, Inc. it is anticipated to expand at a CAGR of 4.5% during the forecast period. Increasing consumption from end use industries, such as automotive, aerospace, construction, and electrical and electronics coupled with the ability of these chemicals to impart superior properties on a metal surface is expected to drive the product demand.
Increasing expenditure in aerospace R&D by various governments including U.S., Germany, France, U.K., Poland, and Sweden is expected to fuel the demand for metal finishing chemicals. Moreover, the product innovation and development of large aircraft by major aerospace OEM’s including Boeing, Lockheed Martin, Airbus, Sikorsky, Northrop Grumman, and Raytheon and the rising aerospace maintenance, repair and overhaul industry is expected to contribute to the product demand from aerospace industry.
The plating industry is experiencing a dynamic transition from wet surface finishing to dry finishing processes, which will help in reducing waste generation, hazardous emissions, dangerous chemicals, and operator exposure. Manufacturers are developing non-metal substrates reinforced with carbon, glass, or Kevlar and these products are expected to offer more strength, durability and better corrosion resistance. This factor is anticipated to drive the metal finishing chemicals market in near future.
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Further key findings from the report suggest:
In terms of revenue, plating chemicals product segment is estimated to expand at a CAGR of 4.7% over the forecast period
The U.S. metal finishing chemicals market is anticipated to exceed USD 2.7 billion by 2025
Asia Pacific is expected to witness a significant CAGR of 6.3% over the next eight years, owing to growing automotive and construction spending coupled with rising disposable income
The market is led by Atotech Deutschland GmbH, Chemetall, Advanced Chemical Company among others
Grand View Research has segmented the global metal finishing chemicals market on the basis of product, process, application, and region:
Metal Finishing Chemicals Product Outlook (Revenue, USD Million, 2014 - 2025)
Metal Finishing Chemicals Process Outlook (Revenue, USD Million, 2014 - 2025)
Chemical & Electro Chemical Conversion
Metal Finishing Chemicals Application Outlook (Revenue, USD Million, 2014 - 2025)
Electrical & Electronics
Metal Finishing Chemicals Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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