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.
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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.
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)
Conversion Coating Chemicals
Metal Finishing Chemicals Process Outlook (Revenue, USD Million, 2014 - 2025)
Chemical & Electrochemical 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
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