Metal Cleaning Chemicals Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Metal Cleaning Chemicals by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Metal Cleaning Chemicals, The metal cleaning chemicals market size has grown strongly in recent years. It will grow from $16.93 billion in 2023 to $17.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to automotive industry expansion, stringent environmental regulations, rise in aerospace manufacturing, focus on product quality, growing electronics industry, oil and gas exploration activities..

The metal cleaning chemicals market size is expected to see strong growth in the next few years. It will grow to $22.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising demand for sustainable solutions, emergence of electric vehicles, global expansion of renewable energy projects, medical device manufacturing, focus on corrosion prevention.. Major trends in the forecast period include advancements in cleaning technologies, customized solutions for different metals, automation and industry 4.0 integration, market consolidation and strategic partnerships, water-based formulations..

The surging demand for metals is expected to propel the growth of the metal cleaning chemicals market going forward. Metals are naturally occurring substances characterized by high electrical and thermal conductivity. Metal cleaning chemicals are used for cleaning and protecting the surface of metals from rusting and corrosion. Hence, metal cleaning chemicals find application in metal manufacturing processes. For instance, according to the World Bank, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects, the global metal demand increased by nearly 4% in Q3 of 2021. The manufacturing PMI (Purchasing Managers Index) increased to 54.3 in October. Furthermore, according to Moody’s Investors Service, a US-based company providing bond credit rating services, steel demand in India is expected to increase by approximately 10% throughout 2022. Therefore, the increasing demand for metals is driving the growth of the metal cleaning chemicals market forward.

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The metal cleaning chemicals market covered in this report is segmented –

1) By Ingredients: Chelating Agent, Surfactant, Solvents, Solubilizers pH Regulators, Other Ingredients

2) By Cleaner: Aqueous, Solvents

3) By Applications: Steel, Aluminum, Copper Alloys, Brass, Other Applications

4) By End-Use Industry: Automotive and Aerospace, Manufacturing, Healthcare, Other End-Use Industries

Technology advancement is a key trend gaining popularity in the metal cleaning chemicals market. Major companies operating in the metal cleaning chemicals market are introducing new technologically advanced products to strengthen their market position. For instance, in June 2022, Oxiteno S.A., a Brazil-based manufacturing company of metal cleaning chemicals, announced that it would launch two product lines, the Reactive Surfactant OXIMULSION REACT, and the OXITIVE 8000 Dispersant Agent, at ABRAFATI 2022. The new solutions were developed after significant study and are intended to address formulators’ issues as well as market demands and trends. Oxiteno collaborates closely with clients to understand problems, develop solutions, and discover possibilities for existing technology to evolve. Oxiteno investigated and created the Reactive Dispersant and Surfactant lines that integrate performance with excellent sustainability.

The metal cleaning chemicals market report table of contents includes: