[161 Pages Report] The report "Metal Finishing Chemicals Market by Type (Cleaning, Conversion Coating), Process (Electroplating, Polishing, Anodizing), Material (ZN, NI, CR, CU, AU), End-Use Industry (Automotive, Electrical & Electronics), and Region - Global Forecast to 2027", The Metal Finishing Chemicals Market is projected to grow from USD 9.8 billion in 2018 to USD 16.9 billion by 2027.
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On the basis of material, the Zinc (Zn) material segment is estimated to lead the metal finishing chemicals market during the forecast period.
Various materials are being used in metal finishing, including zinc, nickel, chrome, copper, gold, silver, and platinum, among others. Among these, zinc is estimated to have accounted for the largest market share due to its easy availability and cost-efficiency. It is also suitable for various applications such as anchors, cleats bolts, coaxial cables, batteries, and plating on plumbing fixtures in the automotive, aerospace & defense, construction, and electrical & electronic industries. Zinc material coating provides benefits such as sacrificial corrosion protection, paint adhesion, decorative coating, and anti-galling to the base metal.
Increasing use of metal finishing chemicals in the automotive industry owing to its excellent properties, including corrosion resistance and wear resistance is projected to lead the metal finishing chemicals market during the forecast period.
Metal finishing chemicals are used in various end-use industries such as electrical & electronics, automotive, industrial machinery, construction, aerospace & defense, and others. The automotive end-use industry is estimated to have accounted for the largest market share due to the increasing usage of these chemicals in metal finishing for shock absorbers, heat sinks, gears, cylinders, and capacitors. The construction industry is projected to grow at the highest CAGR during forecast period, in terms of value among all the industries considered.
High economic growth rate and growing automotive and electrical & electronics industries in China, Japan, and India are projected to lead the metal finishing chemicals market in APAC during the forecast period.
The Asia-Pacific region is the fastest growing market for metal finishing chemicals. Factors driving the metal finishing chemicals market in the Asia-Pacific region are:
- Growing demand from the end-use industries, such as automotive, electrical & electronics, construction, and industrial machinery in major countries such as China and India
- Increasing investments in the metal finishing and plating market in the region
Key players in the metal finishing chemicals market are Atotech Deutschland GmbH (Germany), Chemetall (Germany), The Dow Chemical Company (U.S.), Elementis plc (U.K.), Platform Specialty Products Corporation (U.S.), Advanced Chemical Company (U.S.), Coral Chemical Company (U.S.), Houghton International, Inc. (U.S.), McGean-Rohco, Inc. (U.S.), and NOF Corporation (Japan).
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