Metal Finishing Chemicals Market Likely To Touch At $13.52 Billion By 2025: Grand View Research Inc.

 

The global metal finishing chemicals market size is expected to reach USD 13.52 billion by 2025, according to a new report by Grand View Research, Inc. it is anticipated to expand at a CAGR of 4.5% during the forecast period. Increasing consumption from end use industries, such as automotive, aerospace, construction, and electrical and electronics coupled with the ability of these chemicals to impart superior properties on a metal surface is expected to drive the product demand.

Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.

Increasing expenditure in aerospace R&D by various governments including U.S., Germany, France, U.K., Poland, and Sweden is expected to fuel the demand for metal finishing chemicals. Moreover, the product innovation and development of large aircraft by major aerospace OEM’s including Boeing, Lockheed Martin, Airbus, Sikorsky, Northrop Grumman, and Raytheon and the rising aerospace maintenance, repair and overhaul industry is expected to contribute to the product demand from aerospace industry.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/metal-finishing-chemicals-market/request/rs1

The plating industry is experiencing a dynamic transition from wet surface finishing to dry finishing processes, which will help in reducing waste generation, hazardous emissions, dangerous chemicals, and operator exposure. Manufacturers are developing non-metal substrates reinforced with carbon, glass, or Kevlar and these products are expected to offer more strength, durability and better corrosion resistance. This factor is anticipated to drive the metal finishing chemicals market in near future.

Further key findings from the report suggest:

• In terms of revenue, plating chemicals product segment is estimated to expand at a CAGR of 4.7% over the forecast period
• The U.S. metal finishing chemicals market is anticipated to exceed USD 2.7 billion by 2025
• Asia Pacific is expected to witness a significant CAGR of 6.3% over the next eight years, owing to growing automotive and construction spending coupled with rising disposable income
• The market is led by Atotech Deutschland GmbH, Chemetall, Advanced Chemical Company among others

Growing automotive production mainly in China, Indonesia, India, and Thailand is expected to propel the demand for these chemicals from the automotive sector. Increasing demand for passenger cars in India and China coupled with the rising disposable income is expected to further fuel the automotive market, which in turn will boost the demand over the forecast period.

Other industries that find significant application of metal finishing chemicals industrial machinery and transportation equipment. Growing demand from India, China, Japan, Korea, and Taiwan for manufacturing electrical components, such as connectors, semiconductor devices, and circuit boards are also anticipated to bolster the market over the forecast period.

Agencies, such as EPA, REACH, and OSHA has enforced strict regulations on wastewater management and hazardous waste disposal for metal finishing industries. The clean water act by the EPA developed strict guidelines for wastewater from the industries as it contains contaminants including cyanides, organic substances, suspended solids, and heavy salts. These contaminants are environmentally hazardous and pose potential health risks, which is likely to hamper the market growth over the forecast period.

Have a Query? Ask Our Expert:

https://www.grandviewresearch.com/inquiry/4632/ibb

Grand View Research has segmented the global metal finishing chemicals market on the basis of product, process, application:

Metal Finishing Chemicals Product Outlook (Revenue, USD Million, 2014 - 2025)

·         Plating Chemicals

·         Conversion Coatings

·         Cleaning Chemicals

·         Others

Metal Finishing Chemicals Process Outlook (Revenue, USD Million, 2014 - 2025)

·         Electroplating

·         Electroless Plating

·         Chemical & Electro Chemical Conversion

·         Others

Metal Finishing Chemicals Application Outlook (Revenue, USD Million, 2014 - 2025)

·         Automotive

·         Electrical & Electronics

·         Aerospace

·         Construction

·         Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com