Global Metal Finishing Chemicals Market is expected to reach USD 13,608.90 Million by 2025 from USD 9,390.00 Million in 2017, at a CAGR of 4.9% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Global Metal Finishing Chemicals Market By Chemical Type (Plating Chemicals, Proprietary Chemicals, Cleaning Chemicals, Conversion Coating Chemicals), Process (Electroplating, Plating, Anodizing, Carbonizing, Polishing, Thermal or Plasma Spray Coating, Others), Material (Zinc, Nickel, Chromium, Aluminum, Copper, Precious Metals, Others), End-User (Automotive, Electricals & Electronics, Industrial Machinery, Aerospace & Defense, Construction, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)- Industry Trends and Forecast to 2025
Some of the major players operating in this market are As Follows:-
DowDuPont, PLATFORM SPECIALTY PRODUCTS CORPORATION, NOF Corporation, ELEMENTIS PLC. , Atotech, Chemetall GmbH, Houghton International Inc., Coventya International, Uyemura & Co., Ltd., McGean-Rohco, Inc., Raschig GmbH, Wuhan Jadechem International Trade Co., Ltd. , Grauer & Weil India Ltd., Henkel AG &Co. KGAA, Quaker Chemical Corporation, Advanced Chemical Company, Coral, A Brite Company, Industrial Metal Finishing Company among others.
The Global Metal Finishing Chemicals market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
One of the major factor driving the market for global metal finishing chemicals market is growing demand in automotive sector, growing printed circuit board (PCB) demand in the electronics industry and demand of metal finishing chemicals in aerospace maintenance, repair and overhauls are the factors which will boost the Global metal finishing chemicals market.
GROWING DEMAND IN AUTOMOTIVE SECTOR
At global level, the automobile industry is considered to be the one of the leading and the fastest growing industries due to the continuous upwards trend witnessed in demand and supply. According to Statista, in 2015, 32,732,473 units of passenger cars were sold in the Asia Pacific region which was relatively more as compared to 2014, which were 31,472,644 units. Continuous research and development activities along with the improvement in the auto industry’s technology cooperation, meeting up the regulatory and technical standards, energy security, and automatic robotic cars is leading to growth of the automotive sector.
GROWING PRINTED CIRCUIT BOARD (PCB) DEMAND IN THE ELECTRONICS INDUSTRY
A printed circuit board (PCB) is considered to be the board base for physically supporting as well as wiring of the socketed components and surface-mounted in most of the electronics. PCB can either be single layer or multiple layer each depending upon the devices. Due to the increasing production of electronic components and devices in Asia Pacific region is driving the demand of PCB. According to Malaysian Investment Development Authority (MIDA), in 2016, the electrical & electronics (E&E) industry is considered to be the top sector in Malaysia’s manufacturing sector, which contributes 36.6% to country’s exports and 25.3% in employment. Hence, the growth in the consumer electronic market will be due to rise in communication, consumer electronic products and computer or peripheral being propelled by increase in per capita income and urbanization, economic expansion and others. For instance, in Malaysia, 2017, electronics consumer production was USD 854.0 million, as stated by Yearbook of World Electronics Data 2016. Another example, According to Asian Development Bank (ADB), In Asia Pacific, Gross domestic product (GDP) will expand by 5.7% in 2016 and 2017 as compared to 2015 which has slow down from 5.9%.
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