The global metal finishing chemicals market is projected to reach USD 11.21 Billion by 2021 at a CAGR of 4.7%, in terms of value. The base year considered for the study is 2015 while the forecast period is from 2016 to 2021.
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The report "Metal Finishing Chemicals Market by Type (Cleaning, Conversion Coating, Proprietary), Process (Electroplating, Polishing, Anodizing), Material (ZN, NI, CR, CU, AU), End Use (Automotive, Electrical & Electronics), Region - Global Forecast to 2021", The metal finishing chemicals market is projected to grow from an estimated USD 8.91 Billion in 2016 to USD 11.21 Billion by 2021, at a CAGR of 4.7%.
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Objectives of the Study:
- To define, describe, and forecast the metal finishing chemicals market on the basis of type, process, material, end-use industry, and region
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies2
- Note1: Micromarkets are the subsegments of the metal finishing chemicals market included in the report.
- Note2: Core competencies of companies are determined in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain in the market.
Zinc (Zn): The largest material type segment in the metal finishing chemicals market
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.
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Automotive: The largest end-use industry in the metal finishing chemicals market
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 from 2016 to 2021, in terms of value, among all the industries considered.
Asia-Pacific: The fastest growing market for metal finishing chemicals
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
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