New York, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The growth of the global metal finishing chemicals market stands at US$ 11.2 Bn in 2022 and is predicted to reach US$ 18 Bn by 2032. Based on type, plating chemicals hold a dominating position with 39.7% share of the metal finishing chemicals market.
“Growing Use of Metal Finishing Chemicals for Degreasing and Cleaning of Metal Substrates”
Metal finishing chemicals are generally used at an increased rate to clean and degrease metal substrates, for instance, nickel, aluminum, and steel. In addition, there is a rising demand for metal finishing chemicals from aerospace and automotive equipment. So, based on these growing applications, the market is likely to progress at a significant speed in the coming years.
“Use in Aerospace Industry to Remain High”
Aerospace is anticipated to be the fastest-growing industry in the metal finishing chemicals market. The demand in the aerospace industry is huge owing to increased demand for cleaning and degreasing of equipment. Other end-user industries where metal finishing chemicals are used are industrial machinery and transportation equipment. However, environmental and workplace regulations associated with metal finishing chemicals, which are considered one of the most toxic industries are likely to hinder the growth of the market over the coming years.
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“Rising Demand for Products from Aerospace Industry in North America”
Based on demand, North America is anticipated to hold the leading position in the metal finishing chemicals market in the years ahead. The dominance of the region is attributed to the growing demand for these products from the aerospace industry. However, the implementation of stringent regulations in the region related to the industry of metal finishing because of its highly sensitive nature is expected to limit growth opportunities in the regional market.
Metal Finishing Chemicals Industry Research by Category
By Type:
- Plating Chemicals
- Cleaning Chemicals
- Conversion Coating
- Proprietary Chemicals
- Other Chemicals
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By Material:
- Zinc
- Nickel
- Chrome
- Copper
- Gold
- Silver
- Platinum
- Others
By Process:
- Electroplating
- Plating
- Polishing
- Anodizing
- Thermal or Plasma Spray Coating
- Others
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By End-use Industry:
- Automotive
- Electrical & Electronics
- Industrial Machinery
- Construction
- Aerospace & Defense
Key Industry Players
The market for metal finishing chemicals is fragmented. However, it is dominated by large manufacturers with a global presence. Some of the key manufacturers of metal finishing chemicals are Advanced Chemical Company, Atotech Deutschland GmbH, Coral Chemical Co., C. Uyemura & Co. Ltd., Lonza Group, McGean Specialty Chemicals Group, and Quaker Chemicals Corp.
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