Overview and Scope
Metal cleaning chemicals are liquids such as surfactants that are used to clean the metal surface and remove any rust, scales, and welding scales off the metal surface.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the metal cleaning chemicals market in 2023. The regions covered in the metal cleaning chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
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Major companies operating in the metal cleaning chemicals market are adopting a strategic partnership approach, aiming to form a joint venture for the commercial manufacture of non-ionic surfactants. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in October 2022, BASF SE, a Germany-based manufacturing company of metal cleaning chemicals, announced a partnership with Hannong Chemicals Inc. to establish a joint venture. BASF will own 51% of the planned joint venture, while Hannong Chemicals will own 49%. The joint venture will bring together BASF’s strong technology and innovative product capabilities with Hannong’s highly effective manufacturing capabilities to deliver best-in-class non-ionic surfactant products with Hannong Chemicals and BASF, both of which have their own marketing and distribution networks, allowing the two companies to meet increasing customer demands.
The metal cleaning chemicals market report table of contents includes:
1. Executive Summary
2. Metal Cleaning Chemicals Market Characteristics
3. Metal Cleaning Chemicals Market Trends And Strategies
4. Metal Cleaning Chemicals Market – Macro Economic Scenario
5. Global Metal Cleaning Chemicals Market Size and Growth
….
31. Global Metal Cleaning Chemicals Market Competitive Benchmarking
32. Global Metal Cleaning Chemicals Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Metal Cleaning Chemicals Market
34. Metal Cleaning Chemicals Market Future Outlook and Potential Analysis
35. Appendix
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