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Metal Finishing Chemicals Market growth will be Rise in demand from the automobile and electronics & electrical industry by 2024

Author : Ronak Bora | Published Date : 2019-03-22 

Asia Pacific is the fastest growing metal finishing chemicals market. There is a rising demand for the product in countries such as India, China and Japan as these countries have a developing market for automobile, electronics and aerospace industry. Japan and China are the major consumers in the Asia Pacific market while India is projected to be the fastest growing metal finishing chemicals market in this region. Hence companies have a greater scope and future opportunity in this region owing to a growing market demand. Metal Finishing Chemicals Market size is estimated to grow at a moderate CAGR in the forecast period.

Rising demand from the automobile and electronics & electrical industry are the primary drivers for the global metal finishing chemicals market. The product has a huge demand in the aerospace and automobile equipment industry. Owing to this huge demand from the degreasing and cleaning of equipment, aerospace is projected to be a primary and fastest growing industry for this market. Moreover, considering the automotive industry, metal finishing chemicals impart resistance to chemicals, hardness, wear resistance, electrical resistance, electrical conductivity, corrosion resistance, torque tolerance, reflexivity & appearance. Also, other industries in which metal finishing chemicals are used by the end-users are the transportation equipment and industrial machinery.

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However, workplace and environmental regulations related to the metal finishing chemicals are likely to hinder the growth of this market in the coming years as it is considered as one of the most toxic industry. Moreover, stringent regulations of the U.S. government relating to metal finishing chemicals market, due to its chemical sensitive industry is projected to be the major restraint in future.

Some of the materials used in metal finishing are platinum, silver, gold, copper, chrome, nickel and zinc. Among these, zinc is expected to have accounted for a major chunk of the market share due to its cost efficiency and easy availability. It is also suitable for various applications namely plating, batteries, coaxial cables, cleats bolts and anchors on the plumbing fixtures in the electronics, electrical, construction, defense, aerospace and automotive industries. Moreover, zinc material coatings also provide benefits such as anti-galling to the base metal, decorative coating, paint adhesion and corrosion protection.

Metal finishing chemicals are used in the printed circuit boards and other electronic devices. Cleaning and etching of these surfaces is also done with the help of metal finishing chemicals. They are also used in the degreasing and cleaning of metal substrates such as nickel, aluminum and steel. Moreover, they are also used to etch, plate and clean metallic surfaces and augment their characteristics and physical appearance. They also help to control and alter several surface properties such as electrical conductivity, chemical resistance, hardness, reflectivity & appearance, wear resistance, electrical resistance, tarnish resistance, and corrosion resistance. In the metal finishing chemicals industry, electrochemical conversion, electroless plating, chemical conversion and electrolytic plating are the processes mainly used. The supportive processes used along with the processes mentioned above are cleaning, polishing, etching, pickling and degreasing. Metal finishing chemicals market is dominated by electroplating chemical process followed by galvanization process and electroless plating. Metal coating processes such as thermal spray coatings and vapor deposition are also likely gain importance in the coming years.

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North America is the leading region in terms of demand. North America is followed by Europe as the demand in this region is huge owing to the developing automotive and manufacturing market. Specific countries such as the UK and Germany in Europe have the largest demand for metal finishing chemicals. Furthermore, huge demand from the aerospace, electronics and electrical industry in the U.S. has the largest demand for this market. Rest of the globe is projected to have a stable demand for metals finishing chemicals market in the coming years.

The metal finishing chemicals market is fragmented. However, still, this sector is dominated by some key players with global presence. Some of the major manufacturers in the metal finishing chemicals market are Quaker Chemicals Corp., McGean Specialty Chemicals Group, Lonza Group, C. Uyemura & Co. Ltd., Coral Chemical Co., Atotech Deutschland GmbH and Advanced Chemical Company to name a few.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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