Aqueous-Based Metal Cleaners Global Market Report 2024, Demand, Size And Share

The aqueous-based metal cleaners market size has grown strongly in recent years. It will grow from $11.44 billion in 2023 to $12.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to safety and health concerns, supply chain considerations, rising waste disposal costs, rising population.

The aqueous-based metal cleaners market size is expected to see strong growth in the next few years. It will grow to $15.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing adoption of automation and industry 4.0, increasing customized solutions, increasing demand for cleaning industry, increasing awareness. Major trends in the forecast period include continuous innovation, technology advancements, performance improvements, product developments.

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Market Drivers and Trends:
The rapidly growing automotive and manufacturing industries are expected to propel the growth of the aqueous-based metal cleaner market going forward. The automotive industry refers to a business sector that involves the design, building, supply and trade of motor vehicles and manufacturing industries are sectors that convert commodities, primarily manufacturing enterprises. Aqueous-based metal cleaners provide a safe, environmentally friendly and cost-effective solution for removing contaminants and residues from metal surfaces in the automotive and manufacturing industries, ensuring manufactured products' optimal performance and longevity. For instance, in July 2022, according to a report published by the European Automobile Manufacturers Association (ACEA), a Belgium-based automobile lobbying and standards group, the automobile trade created an annual net profit of $82.6 billion (€79.5 billion) for the European Union in 2021, a 4.6% increase over the previous year's profit of $78.86 billion (€75.9 billion) in 2020. Further, in December 2022, according to a report published by the United Nations Industrial Development Organization (UNIDO), an Austria-based agency, global manufacturing production increased by 3.6% in the third quarter of 2022, following a 3.0% increase in the previous quarter and industrial economies expanded by 2.5% in the second quarter of 2022. Therefore, the rapidly growing automotive and manufacturing industries will drive the aqueous-based metal cleaner market.

Major companies operating in the aqueous-based metal cleaner market are focused on innovating advanced solutions to strengthen their position in the market. The use of advanced products can provide improved cleaning performance, allowing for more effective removal of grease, oil, dirt and other contaminants. For instance, in November 2022, Solvay SA, a Belgium-based manufacturer of chemical and plastic products, launched Reactsurf 2490, a new APE-free1 polymerizable water-soluble surfactant. It was explicitly designed to tackle the enduring problems of dirt absorption and water whitening for more effective coatings and pressure-sensitive adhesives. Additionally, Reactsurf 2490 guarantees adherence to the increasingly strict regulatory standards for APE-free products.

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Major Key Players of the Market:
BASF SE, Aervoe Industries Inc., Dow Inc., Henkel AG & Co. KGaA, Evonik Industries AG, Emerson Electric Co., Indorma Ventures Public Limited, Eastman Chemical Company, The Chemours Company, Clariant AG, Nouryon B.V., Stepan Company, Ashland Global Holdings Inc., Quaker Chemical Corp, Zep Inc., CRC Industries Inc., Crest Industrial Chemicals Inc., Ashburn Chemical Technologies Co, Claire Manufacturing Company, Dober Chemical Corp., KYZEN Corporation, PCC Chemax Inc., Nugeneration Technologies LLC, Hubbard-Hall Inc., Cavalier Chemicals Inc.

Aqueous-Based Metal Cleaners Market 2024 Key Insights:
• The Aqueous-Based Metal Cleaners Market is expected to grow to$15.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Aqueous-Based Metal Cleaner Market Poised For Growth Due To Expansion In Automotive And Manufacturing Sectors
• Leading Companies In The Aqueous-Based Metal Cleaner Market Drive Innovation With Advanced Cleaning Solutions
• Asia-Pacific was the largest region in the aqueous-based metal cleaners' market in 2023.

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