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We expect the global metal finishing chemicals market to exhibit a CAGR of around 5% during 2021-2026.
The rising utilization of metal finishing chemicals in the automotive industry to increase solderability, improve chemical resistance, and enhance surface electrical conductivity, is primarily driving the global metal finishing chemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of various end-use industries for metal finishing chemicals.
Based on the product, the global metal finishing chemicals market can be segmented into plating chemicals, conversion coatings, cleaning chemicals, and others. Currently, plating chemicals hold the majority of the total market share.
Based on the process, the global metal finishing chemicals market has been divided into electroplating, electroless plating, chemical and electro chemical conversion, and others, where electroplating currently exhibits a clear dominance in the market.
Based on the application, the global metal finishing chemicals market can be categorized into automotive, electrical and electronics, aerospace, construction, and others. Among these, the automotive sector currently accounts for the largest segment.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global metal finishing chemicals market 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.
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