The rise in the demand for metals and a surge in industrial cleaning and maintenance is driving the demand for the market.
Metal Cleaning Chemical Market Size – USD 18.50 billion in 2019, Growth - CAGR of 4.8%, trends – Increase in demand for sustainable, eco-friendly products.
The global Metal Cleaning Chemical Market is forecast to reach USD 27.03 Billion by 2027, according to a new report by Reports and Data. Chemicals used for metal cleaning are used to wash off inorganic and extraneous materials from the metal’s surface. They are used to remove any oil, unwanted surfaces, grease, corrosion oxides, and other particulates that can damage the performance efficiency of the metals. Cleaning of metals prevents the corrosion of the product and removes fouling by organic materials such as microbes, algae, animal fats, and hydrocarbons, and inorganic materials such as hydroxides, sulfides, silicates, carbonates, and phosphates, among others.
Chemicals used for metal cleaning are used to clean heavy machines and equipment in automotive, manufacturing, transportation, and aerospace. Heavy machinery and equipment being used in the transportation and manufacturing sector requires consistent maintenance and sustain performance efficiency. Major growth in the demand among end-users for these chemicals is propelling the market in the Asia Pacific region. However, stringent regulations regarding the usage of non-toxic chemicals will hamper the growth of the market. The emergence of environmentally sustainable and bio-based chemicals is expected to create ample growth opportunities during the forecast period
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Top Companies: Stepan Company, Houghton International Inc., Eastman Chemical Company, Air Products and Chemicals, Inc., The DOW Chemical Company, Quaker Chemical Corporation, Oxiteno, Rochester Midland Corporation, Emerson Electric, and Eastman Chemical Company, among others.
Further Key Finding from the Report Suggestion:
- Aqueous Cleaning Chemical consist of detergents containing surfactants such as alkylphenol ethoxylates, linear alkylbenzene sulphonates, or alcohol ethoxylates, and anticorrosives like ethanolamines. The cleaning efficiency of the product depends on physiochemical phenomena such as emulsification, sequestration, wetting, solubilization, dispersion, and saponification, and is enhanced by mechanical and thermal energy.
- The steel industry held a larger market share of 4.9% in the year 2019. Cleaning the metallic surface is a general quandary, and to resolve the issue, metal cleaners are used. The high level of production of steel is fostering the demand for the market. World Steel Association, in 2018, declared Asia produced 1278.0 Mt of crude steel, which was an increase of 5.6% as compared to 2017.
- The manufacturing sector has been witnessing an increase in the Asia Pacific region, especially in China, Japan, India, and Indonesia. The growth rate of manufacturing industries in China is expected to double in the coming years, according to the Chinese ministry of commerce. The Government of India released the same data, in which there is expected to be a 4% increase in the next two years in the manufacturing sector. This is expected to benefit the market for metal Cleaning Chemical.
- Europe is forecasted to hold the second-largest share in the market. The region will witness stable growth on account of growing manufacturing, automotive, and rising demand from nations such as Italy, France, and Spain. Moreover, the presence of key market players is also encouraging market demand.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Metal Cleaning Chemical market is segmented into:
Chemical Type Outlook (Revenue, USD Billion; 2017-2027)
- Aqueous
- Solvent
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Construction
- Manufacturing
- Appliances and Utensils
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Steel
- Copper
- Aluminum
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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