Aqueous Metal Cleaning Chemicals to Contribute Over 71.4% of Sales in Metal Cleaning Chemicals Market
In its latest study, Fact.MR offers an in-depth analysis on the global metal cleaning chemicals market for the upcoming decade. To gain a better understanding, the report also provides insights on latest trends, opportunities, and drivers affecting the sales in the market through various segments including product type, composition, metal type, end user, and regions.
NEW YORK, April 13, 2022 /PRNewswire/ -- Demand in the global metal cleaning chemicals market is projected to surpass US$ 18.9 Bn, registering growth at a CAGR of 3.5% during the forecast period (2022-2032).
Expansion of manufacturing sector across the globe has increased the need for maintenance of heavy equipment and machinery. Hence, demand for metal cleaning chemicals for upholding operational efficiency is expected to drive the market.
Use of traditional metal cleaning cleaners is affecting the environment negatively. Hence, on the back of growing environmental concerns, manufacturers are developing bio-based or green metal cleaning chemicals. This is projected to create lucrative opportunities for the market.
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Rising need to reduce industrial waste and maintain workplace safety has increased the adoption of aqueous-based cleaning chemicals. Such cleaning chemical alternatives are likely to bolster the growth in the market during the assessment period.
Further, stringent government regulations promoting the use of eco-friendly metal cleaning chemicals is likely to augment the sales of bio-based metal cleaning chemicals. This is projected to propel the growth in the market.
In addition to this, surging demand for surface cleaning of the vehicles to avoid corrosion and to increase their service life will spur the demand for metal cleaning chemicals. Subsequently, use of chemical solutions to remove fouling caused by denatured protein, oxides, and other materials is anticipated to push the demand in the market.
Report Attributes | Details |
Base Year Value (2021A) | US$ 12.9 Bn |
Estimated Year Value (2022E) | US$ 13.3 Bn |
Projected Year Value (2032F) | US$ 18.9 Bn |
Global Growth Rate (2022-2032) | CAGR 3.5% |
Key Takeaways:
- North America is projected to hold a maximum share of 25.8% in the metal cleaning chemicals market.
- East Asia metal cleaning chemicals market is projected to record growth at a CAGR of 4.1% during the forecast period.
- Sales of metal cleaning chemicals in South Asia & Oceania are expected to contribute over 20.1% of demand share in the global market
- Based on product type, the aqueous segment is expected to dominate the market, accounting for 71.4% of revenue in the global market.
- In terms of composition, the acid segment is estimated to lead the market, exhibiting growth at a CAGR of 3.9% during the forecast period.
Growth Drivers:
- Increasing demand for acid metal cleaning chemicals for surface cleaning of the equipment due to lubricating oils, hard water, and other strains is estimated to boost the market.
- Rising concern for industrial cleaning and maintenance of equipment coupled with worker safety will drive the demand for metal cleaning chemicals.
Restraints:
- Government regulations inhibiting the use of metal cleaning chemical solutions containing volatile organic compounds (VOCs) might restrain the growth in the market.
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Competitive Landscape:
Leading players profiled in the global metal cleaning chemical market are concentrating on advancing their product line to upscale their market presence among the consumers.
Apart from this, manufacturers are adopting various marketing strategies such collaborations, joint ventures, acquisitions, and others to gain a competitive edge in the market.
- In 2021, One Rock Capital Partners LLC acquired Eastman Chemical Company to switch from a corporate subsidiary to an independent and a strong business.
- In 2019, Brenntag acquired Crest Chemicals to expand its business and explore its growth potential. It also focused on advancing its product line by understanding the pricing and existing opportunities.
Key Companies Profiled by Fact.MR
- Eastman Chemical Company
- Crest Chemicals
- DST-Chemicals A/S
- NuGenTec
- Quaker Chemical Corporation
- KYZEN Corporation
- ZAVENIR DAUBERT
- SurTec
- Chautauqua Chemical Company
- Lincoln Chemical Corporation
- ZET-Chemie
- Enviro Serve Chemicals, Inc.
- Other Market Players
More Valuable Insights on Metal Cleaning Chemicals Market
In the latest study, Fact.MR provides detailed market study on the global metal cleaning chemicals market for the forecast period of 2022 to 2032. This report also covers the key trends promoting the sales in the metal cleaning chemicals market with detailed segmentation as follows:
By Product Type:
- Aqueous Metal Cleaning Chemicals
- Solvent Metal Cleaning Chemicals
By Composition:
- Acid Metal Cleaning Chemicals
- Alkali Metal Cleaning Chemicals
By Metal Type:
- Steel
- Iron
- Copper
- Metal Alloys
- Others
By End-User:
- Building & Construction
- Automotive & Transportation
- Industrial
- Healthcare
- Aerospace
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Key Questions Covered in the Metal Cleaning Chemicals Market Report
- What will be the market growth rate of metal cleaning chemicals market until 2032?
- What was the demand outlook for global metal cleaning chemicals between 2017 and 2021?
- What will be the market size of global metal cleaning chemicals market during the forecast period?
- Which region is considered to be the most lucrative in the global metal cleaning chemicals market?
- Which are the factors restraining the growth in the global metal cleaning chemicals market?
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Bio-based Surfactants Market: Growing environmental concern due to the use of hazardous chemicals is propelling the demand for non-toxic and highly biodegradable surfactants. In addition to this, use of bio-based surfactants as wetting agents, emulsifiers, and detergents for application in personal care, and oilfield chemicals is likely to bolster the growth in the market.
Agriculture Container and Tank Cleaning Market: Increasing risks of chemical or herbicide residues in agriculture container and tank is surging the demand for agriculture container and tank cleaning. Furthermore, the Food and Agricultural Organization (FAO) is regulating the use of agriculture container and tank cleaning equipment for the application of pesticides. This is likely to create lucrative opportunities for the market.
Industrial Cleaning Chemicals Market: Demand for periodic maintenance of heavy equipment and machinery for their efficient operation in various industries is likely to boost industrial cleaning chemicals market. Also, growing awareness about workplace safety is predicted to increase the application of industrial cleaning chemicals.
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