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Metal Finishing Chemicals Market: Trends, Analysis, and Growth Forecast 2033 || McGean-Rocho Inc., Atotech Deutschland GmbH
Metal Finishing Chemicals Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the metal finishing chemicals industry. This report on metal finishing chemicals market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The metal finishing chemicals market size has grown strongly in recent years. It will grow from $12.31 billion in 2023 to $13.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to manufacturing growth, renewable energy, environmental regulations, automotive industry, electronics.
The metal finishing chemicals market size is expected to see strong growth in the next few years. It will grow to $17.67 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to aerospace applications, consumer goods, healthcare equipment, additive manufacturing, space exploration. Major trends in the forecast period include advancements in corrosion protection, green technologies, electrification of vehicles, advanced alloys, microelectronics and nanotechnology.
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Key Market Players:
McGean-Rocho Inc., Atotech Deutschland GmbH, Advanced Chemical Company, Asterion LLC, Quaker Houghton Corporation, A Brite Company, DOW Chemicals are prominent players in the metal finishing chemicals industry.
Market Drivers:
According to the Metal Finishing Chemicals Market Report 2023 by The Business Research Company, the key factors driving the growth of the metal finishing chemicals increasing sales of automobiles worldwide. The growth in automobile sales is driven by rapid urbanization and the expansion of global auto manufacturers in developing nations. Automobile parts are finished using various coatings of metals such as zinc., and nickel that keeps the automotive parts corrosion-free and resistant to rubbing against each other. According to U.S. News & World Report, an American media company, in 2021, the number of new automobiles sold in the USA was slightly more than 15 million, a 3.4% increase over the year 2020.
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Market segments for the metal finishing chemicals include:
1) By Type: Plating Chemicals, Cleaning Chemicals, Conversion Coating, Proprietary Chemicals, Other Types
2) By Material: Zinc., Nickel, Chrome, Copper, Gold, Silver, Platinum, Other Materials
3) By Process: Electroplating, Chemical and Electro-chemical Conversion, Electroless Plating, Other Process
4) By End-Use Industry: Automotive, Electrical and Electronics, Industrial Machinery, Construction, Aerospace and Defense, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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