Dublin, April 13, 2022 (GLOBE NEWSWIRE) -- The "Metal Finishing Chemicals Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The metal finishing chemicals market is expected to grow at a compound annual growth rate of 3.39% over the forecast period to reach a market size of US$11.338 billion in 2026 from US$8.978 billion in 2019.
Metal finishing chemicals are used to improve the physical appearance and characteristics of metallic surfaces by polishing, plating, and etching them. Metal finishing chemicals aid in the modification and control of surface characteristics such as corrosion resistance, tarnish resistance, electrical and wear resistance, reflectivity and appearance, hardness, chemical resistance, and electrical conductivity, among others.
The metal finishing chemicals market is expanding due to increased demand for wear-resistant and long-lasting products. The increasing number of applications from the automotive industry, the growth of the printed circuit board industry, rising chemical usages in aerospace maintenance, repair, and overhauls, and favorable government policies are all expected to boost the growth of the metal finishing chemicals market during the forecast period. On the other hand, the growing demand for bio-based cleaning chemicals, as well as rapid urbanisation and changing lifestyles, would provide sufficient possibilities for the metal finishing chemicals market to expand over the projected period.
However, hazardous waste disposal and wastewater management regulations, as well as the substitution of metals with inexpensive plastic, are acting as market constraints for the expansion of metal finishing chemicals.
Growth Factors:
Automotive industry expansion drives growth
The metal finishing process, particularly electroplating, is critical in the automobile industry. It employs electrodeposition, a low-cost method of providing thin wear and corrosion-resistant metal surface coating on automobile components. Various automobile components, such as gearbox parts, engines, drive axles, vehicle exteriors, and others, require corrosion-resistant, wear-resistant, and rust-resistant finishes, as well as a clean look. As the automobile sector expands, the metal finishing chemicals market is expected to develop more in the future years.
Restraints
Substitution of metals by plastics
Manufacturers benefit from replacing metal with plastic since it reduces costs and improves product quality. Because the weight of goods such as automobiles drops substantially when plastic parts are used, many automobile sectors are moving toward plastics rather than metals to manufacture lightweight vehicles. Plastics also assist in improving transportation for end-use industries by lowering shipping costs for automobile imports and exports. During the projected period, all of these superior properties of plastic serve as a restraint for the metal finishing chemical market.
COVID-19 Impact
The COVID-19 pandemic, on the other hand, is projected to restrict market development due to the temporary shutdown of industrial facilities all over the world, as well as the disruptions in the supply chain network induced by the lockdowns. These limitations hampered not only the operations of metal finishing chemical market participants, but also those of its end-use sectors, such as automotive and manufacturing.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Metal Finishing Chemicals Market Analysis, By Type
5.1. Introduction
5.2. Inorganic Chemicals
5.3. Organic Chemicals
5.4. Hybrid Chemicals
6. Metal Finishing Chemicals Market Analysis, By Application
6.1. Introduction
6.2. Conversion Coating
6.3. Cleaning
6.4. Rust Preventive
6.5. Plating
7. Metal Finishing Chemicals Market Analysis, By End-User Industry
7.1. Introduction
7.2. Manufacturing
7.3. Aerospace and Defense
7.4. Electrical and Electronics
7.5. Automotive
7.6. Others
8. Metal Finishing Chemicals Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. Italy
8.4.4. Spain
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Israel
8.5.2. Saudi Arabia
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. India
8.6.4. Australia
8.6.5. South Korea
8.6.6. Taiwan
8.6.7. Thailand
8.6.8. Indonesia
8.6.9. Others
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. The Dow Chemical Company
10.2. BASF SE
10.3. TIB Chemicals AG
10.4. Atotech
10.5. Technic, Inc.
10.6. Honeywell International, Inc.
10.7. Artek Surfin Chemicals, Ltd.
10.8. Gilbert and Jones
10.9. OS-TECH
10.10. Heatbath Corporation
For more information about this report visit https://www.researchandmarkets.com/r/6pdu3r
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