According to the latest report by IMARC Group, titled "Metal Finishing Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global metal finishing chemicals market reached a value of US$ 10.8 Billion in 2022. Metal finishing chemicals are specialized formulations used to improve metal surfaces' appearance, durability, and functionality. These chemicals are typically applied to metal substrates through electroplating, electroless plating, or other coating techniques and can include a wide range of different compounds depending on the desired result. Some common types of metal finishing chemicals include surface cleaners, pre-treatments, plating solutions, conversion coatings, and post-treatments. These chemicals can remove impurities, improve adhesion, increase corrosion resistance, enhance conductivity, and provide decorative finishes. The use of metal finishing chemicals is critical in a wide range of industries, including automotive, aerospace, electronics, and medical device manufacturing. Metal finishing chemicals can provide a layer of protection against corrosion, which is particularly important in applications where the metal surface will be exposed to harsh environments. These chemicals play a critical role in improving the properties and functionality of metal surfaces in a wide range of applications.
Global Metal Finishing Chemicals Market Trends:
The global market is majorly driven by the increasing demand for high-quality metal surfaces in various industries, including automotive, aerospace, electronics, and medical devices. In line with this, the rising need for metal finishing chemicals to provide corrosion protection, increase durability, and enhance the aesthetic appearance of metal surfaces is significantly contributing to the market. Furthermore, rapid industrialization in developing countries is creating a significant demand for metal finishing chemicals in the automotive, construction, and electronics industries. Apart from this, the regulatory bodies in different countries have set stringent regulations regarding the use of hazardous chemicals. As a result, manufacturers are looking for alternatives to traditional metal finishing chemicals, which has driven the demand for newer, more eco-friendly products. Moreover, the development of newer and more sustainable metal finishing chemicals that are safer for the environment is expected to catalyze the market. Besides, the growing product utilization in the aerospace industry to improve the durability and strength of different parts is propelling the market. Additionally, the escalating sales of consumer electronics worldwide represent one of the key factors bolstering the market growth. Some of the other factors driving the market include the increasing sales of automobiles, the rising demand for durable and wear-resistant products, and the introduction of bio-based finishing chemicals. On account of the factors above, the market is anticipated to reach a value of US$ 14.0 Billion by 2028, exhibiting a CAGR of 4.7% during 2023-2028.
- On the basis of the product, the market has been categorized into plating chemicals, conversion coatings, cleaning chemicals, and others.
- Based on the process, the market has been classified into electroplating, electroless plating, chemical and electro chemical conversion, and others.
- Based on the material, the market has been segmented into zinc, nickel, chromium, aluminum, copper, precious metals, and others.
- Based on the application, the market has been categorized into automotive, electrical and electronics, aerospace, construction, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include A Brite Company, Advanced Chemical Company, Atotech Deutschland GmbH, Chemetall GmbH, Coral Chemical Company, Dow Inc., Element Solutions Inc, Elementis plc, Henkel AG & Co. KGaA., Houghton International Inc. (Quaker Chemical Corporation), McGean-Rohco Inc. and NOF Corporation.
|Base Year of the Analysis
||Product, Process, Material, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||A Brite Company, Advanced Chemical Company, Atotech Deutschland GmbH, Chemetall GmbH, Coral Chemical Company, Dow Inc., Element Solutions Inc, Elementis plc, Henkel AG & Co. KGaA., Houghton International Inc. (Quaker Chemical Corporation), McGean-Rohco Inc. and NOF Corporation
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