Foundry Chemicals Market to Surpass US$ 2.9 Bn by 2027

Foundry Chemicals Market: Key Highlights

The global foundry chemicals market was valued at ~US$ 2.2 Bn in 2018, and is anticipated to expand at a CAGR of ~3% during the forecast period.
The global foundry chemicals market is driven by the rise in the demand for lightweight materials in the automotive industry.
The foundry industry in Asia Pacific is concentrated in China, India, and Japan. India is anticipated to lead the demand for foundry chemicals in Asia Pacific during the forecast period. The foundry industry in India is expanding at a rapid pace and this is estimated to boost the foundry chemicals market in the country during the forecast period.

Request A Sample of Foundry Chemicals Market -

Key Drivers of the Foundry Chemicals Market

Aluminum cast parts are light in weight and have the strength of steel. The appearance and esthetic value of aluminum-made parts is also superior to that of other metal alloys. Also, aluminum cast parts are cheaper, and, as such, end consumers can buy high quality metal products at affordable prices. Castings made from aluminum are versatile, corrosion resistant, and can be used for different purposes. These qualities allow manufacturers to produce multiple products using aluminum parts. The finished products also have a longer lifespan, thus giving consumers more value.
The Middle East & Africa offers immense potential for investors operating in the foundry chemicals industry. The market size is small in the region; however, there exists vast potential for casting products due to the growth in the automotive industry.

Top Five Players Account for Key Market Share

The global foundry chemicals market is highly fragmented, as a large number of small players operate in this market. Currently, the market is expanding at a steady pace, and key players are largely focusing on research and development activities. The top five players - Vesuvius, ASK Chemicals, IVP Limited, Imerys, and HÜTTENES-ALBERTUS Chemische Werke GmbH - cumulatively accounted for ~30% share of the global foundry chemicals market in 2018.

For More Information,Request Brochure@

Global Foundry Chemicals Market by Application