Metal Finishing Chemicals Market is set to record a CAGR of nearly 4.8% over the period from 2022 to 2028.

Report Summary

By 2028, the market for metal finishing chemicals will be worth USD 19.12 billion and is projected to expand at a compound annual growth rate (CAGR) of 4.8%. The market is expected to be driven by the expanding automotive sector in developing nations like Mexico, India, China, Thailand, and Indonesia. Additionally, government programmes like the Make in India policy are among the key factors promoting the development of the automotive industry in these areas, which is projected to continue the expansion.

The characteristics of metal finishing chemicals, such as resistance to corrosion, electrical, wear, torque, hardness, and chemicals combined with electrical conductivity, appearance, and reflectivity to the metal surface, can be ascribed to the product’s increasing demand.

Strict guidelines on wastewater management and hazardous waste disposal have been implemented by organisations like the EPA, REACH, and OSHA for the metal finishing industry. Because industrial wastewater contains toxins such cyanides, organic compounds, suspended particles, and heavy salts, the EPA created severe requirements for treating it. These contaminants are potentially harmful to human health and the environment, which is anticipated to impede market expansion throughout the projection period.

Market Trends for Metal Finishing Chemicals

The expansion of the automotive industry in developing countries like India, China, Thailand, Mexico, and Indonesia is driving the market. Additionally, the demand for electroplating has expanded as a result of the global vehicle industry’s continued growth. The market’s expansion is significantly impacted by this factor.

Chemical demand is anticipated to rise during the projection period as a result of the expanding demand for precisely polished metal in construction machinery, electrical equipment, and machinery components. The demand for durable and wear-resistant products, the growth of the printed circuit board industry, the increased use of metal finishing chemical compounds in aerospace repair, maintenance, and overhauls, and the rise in demand from Asia-Pacific economies are some of the factors driving the global market.

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Product Information.

In 2017, plating chemicals became the most popular product category. These substances are renowned for giving metal surfaces outstanding surface qualities like corrosion resistance, wear resistance, hardness, and electrical conductivity.

Due to the growing use of these goods in application industries including aerospace, automotive, construction, and electrical and electronics, the cleaning chemicals segment is anticipated to experience the quickest growth over the course of the forecast period.

Process Information

In terms of revenue, electroplating took the lead as the largest process category in 2017 and accounted for over 40.0% of the whole market. This method is mostly employed in the plating of electrical and electronic components and automobiles. It is a less expensive option than electroless plating and galvanization, which is predicted to be the segment’s main driver. However, throughout the course of the projection period, market growth is anticipated to be constrained by stringent environmental regulations placed on chromium and cadmium electroplating.

Application Perspectives

Due to the rising demand for and production of commercial and passenger automobiles in emerging nations like India, China, Thailand, and Indonesia, the automotive industry is predicted to have the fastest growth over the course of the forecast period. The expanding automobile sector is the outcome of rising disposable income as well as government growth-promoting programmes and regulations.

Regional Perspectives

North America dominated the market in 2017 as a result of the region’s extensive and expanding manufacturing and automotive industries. However, due to rising automobile production in nations like China, India, Indonesia, and Thailand, Asia Pacific is predicted to have the quickest CAGR during the projected period. Demand will also be fueled by the expanding electrical and electronics industries in Taiwan, Korea, China, and Japan.

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By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
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