Global Metal Finishing Chemicals Market, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Metal Finishing Chemicals Market


The global Metal Finishing Chemicals market size is projected to reach US$ 14.1 billion by 2026, from US$ 10.83 billion in 2020, at a CAGR of 4.5% during 2021-2026.Growing automotive industry in developing countries, such as Mexico, India, China, Thailand, and Indonesia is projected to drive the market. Moreover, government initiatives, such as the Make in India policy by the government of India are some of the major drivers for automotive manufacturing and development in these regions, which is likely to further fuel the growth.

Rising demand for the product can be attributed to the properties of metal finishing chemicals, such as resistance to corrosion, electrical, wear, torque, hardness, and chemicals coupled with electrical conductivity, appearance and reflectivity to metal surface.

Growing automotive production mainly in China, Indonesia, India, and Thailand is expected to propel demand for these chemicals from 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 is also anticipated to bolster the market over the forecast period.

Agencies, such as EPA, REACH, and OSHA have 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.

Market Segmentation, Outlook & Viewpoint: Global Metal Finishing Chemicals Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Plating Chemicals
  
Conversion Coatings
  
Cleaning Chemicals
  
Others

Process Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Electroplating
  
Electroless Plating
  
Chemical & Electro Chemical Conversion
  
Others

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Automotive
  
Electrical & Electronics
  
Aerospace
  
Construction
  
Others

Key Players, Recent Developments & Regional Insights: Global Metal Finishing Chemicals Market

Plating chemicals emerged as the largest product segment in 2017. These chemicals are known to provide superior surface properties, such as corrosion resistance, wear resistance, hardness as well as electrical conductivity to metal surface.

The cleaning chemicals segment is projected to witness the fastest growth over the forecast period on account of increasing usage of these products in application industries, such as aerospace, automotive, construction, and electrical and electronics.

Conversion coatings are used in chemical and electrochemical conversions for providing metal coatings. The chemicals used in conversion coatings include phosphates, chromates, and black oxide. These coatings offer mild corrosion resistance and improve field performance and paint adhesion.

Chromate conversion is mainly used on aluminum surfaces while zinc and iron phosphate conversion is used on steel substrates. Increasing usage of conversion coatings for metal pretreatment as it induces anti-corrosive properties on substrates is expected to drive the demand in the forthcoming years.

Process Insights

In 2017, electroplating emerged as the largest process segment and held approximately 40.0% of the total market share in terms of revenue. This process is majorly used in automotive plating and electrical and electronics plating. It is a cheaper alternative to electroless plating and galvanization, which is anticipated to be the major driving force for the segment. However, strict environmental regulations imposed on chromium and cadmium electroplating is expected to hamper the market expansion over the forecast period.

Electroless plating is likely to be the fastest growing process segment on account of increasing usage of the process in plating printed circuit boards and consumer durables. In addition, the ability of electroless plating process to provide an even finish without the use of electrical power is expected to drive the market growth.

Application Insights

Automotive is anticipated to be the fastest growing application segment over the forecast period on account of ever-increasing demand and production of commercial and passenger vehicles in emerging countries, such as India, China, Thailand, and Indonesia. Growing automotive industry is the result of increasing disposable income as well as government initiatives and policies encouraging the growth.

Moreover, the presence of major automotive OEMs including GM, CHRYSLER, BMW, Mercedes, Volvo, Ford Trucks & SUVs, Ford cars, AUDI, Jaguar, Porsche, Volkswagen, Land Rover, Toyota, Nissan, Honda and Mazda is expected to further fuel the metal finishing chemicals market in the future.

The global aerospace and defense industry is expected to witness steady growth over the forecast period owing to the increasing government expenditure on aircraft production and defense sectors. This growth has accelerated the equipment replacement cycle and has increased the passenger travel demand which is propelling the use of the product in aerospace maintenance, repair, and overhaul activities.

Demand from other applications, such as jewelry, consumer durables, recreational goods, job shops, machine tools, and medical equipment is expected to witness steady growth over the forecast period. Growing healthcare industry in countries, such as Germany, U.S., and India is expected to drive the demand from medical equipment industry. In addition, rising demand for ornamental jewelry from countries, such as U.S. is expected to fuel market growth over the forecast period.

Regional Insights

North America led the market in 2017 due to the presence of a large number of and growing manufacturing and automotive sector. However, Asia Pacific is expected to witness the fastest CAGR during the forecast period owing to increasing automotive manufacturing in countries, such as China, India, Indonesia, and Thailand. In addition, growing electronics and electrical sector in Korea, China, Japan, India, and Taiwan will fuel demand.
Europe was estimated to be the second largest regional segment in 2017 and held approximately 29.0% of the total market share in terms of revenue. It is likely to witness stable growth over the next few years on account of growing automotive development, manufacturing and demand from developed nations, such as Spain, France, and Italy. Moreover, the existence of numerous manufacturers, such as Coventya, BASF SE, Atotech Deutschland, Elementis, Henkel AG and Rashig, is expected to propel the regional growth in near future.

Metal Finishing Chemicals Market Share Insights

The market is fragmented in nature with the presence of many large and small companies who collectively captured the significant share in 2017. Key manufacturers include Atotech Deutschland GmbH; Advanced Chemical Company; Chemetall, Elementis; DOW Chemicals; Mc-Gean Rocho US; Coral Chemical Company; Platform Specialty Products Corporation; Quaker Chemicals; Houghton International Inc.; NOF Corporation; HENKEL Ag; Rashig GmbH; A Brite Company; and Technic.

Majority of manufacturers focus on Europe and North America while keeping the distribution networks across the other regions. As Europe and North America are estimated to be the largest markets for these chemicals on account of growing demand from aerospace, automotive, manufacturing, and electrical and electronics industries among others.

There is a significant presence of numerous regional industry players specifically those based in U.S., Canada, Germany, U.K., Japan, and China. This scenario is projected to fuel the overall competitive environment in near future.

Key Insights Covered: Global Metal Finishing Chemicals Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Metal Finishing Chemicals industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Metal Finishing Chemicals industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Metal Finishing Chemicals industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Metal Finishing Chemicals industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Metal Finishing Chemicals industry.

Research Methodology: Global Metal Finishing Chemicals Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other