What Has Been The Evolution of the Metal Finishing Chemicals Market in Recent Years?
The metal finishing chemicals market has seen considerable growth due to a variety of factors.
• The market for metal finishing chemicals has seen substantial growth in the past few years. Its size is expected to increase from $13.15 billion in 2024 to $14.09 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
The historical growth in this market is largely due to factors such as advancements in manufacturing, the rise of renewable energy, the implementation of environmental regulations, and the growth in the automotive and electronics industries.
What Is the Forecasted Market Size and Growth Rate for The Metal Finishing Chemicals Market?
The metal finishing chemicals market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for metal finishing chemicals is projected to experience significant growth in the coming years, with an estimated value of $19.32 billion by 2029, and a compound annual growth rate of 8.2%.
This growth during the forecast period is largely attributed to aerospace applications, consumer goods, healthcare equipment, additive manufacturing, and space exploration. Key trends that are expected to characterize the forecast period include progress in corrosion protection, environmentally-friendly technologies, vehicle electrification, advanced alloys, microelectronics, and nanotechnology.
What Are The Core Factors Supporting Growth In The Metal Finishing Chemicals Market?
The rise in global vehicle sales is anticipated to significantly contribute to the expansion of the metal-finishing chemical market. This surge in vehicle sales is attributed to fast-paced urbanization and the proliferation of international automobile manufacturers in emerging economies. Various metal coatings, including zinc and nickel, are used to finish automobile components, ensuring they remain free from corrosion and resistance to friction. For instance, reports from the Society of Motor Manufacturers and Traders, a UK trade association, revealed an 11.7% production increase in UK cars in the first half of 2023, amounting to 450,168 units. Additionally, June witnessed a growth of 16.2%, representing the fifth month of consecutive growth. Since the start of the year, there's been production of an additional 47,037 units, mainly driven by a 13.6% jump in exports, which made up 359,940 units, or 80% of the total production. There was also an increase in domestic volumes, with UK production rising by 4.5% to 90,228 units. Consequently, the global increase in vehicle sales is fueling the growth of the metal finishing market.
What Are The Major Segments Within The Global Metal Finishing Chemicals Market?
The metal finishing chemicals market covered in this report is segmented –
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
Subsegments:
1) By Plating Chemicals: Electroplating Chemicals, Electroless Plating Chemicals, Zinc Plating Chemicals
2) By Cleaning Chemicals: Aqueous Cleaning Chemicals, Solvent-Based Cleaning Chemicals, Acidic Cleaning Chemicals
3) By Conversion Coating: Phosphate Coatings, Chromate Coatings, Anodizing Chemicals
4) By Proprietary Chemicals: Custom Formulated Chemicals, Specialty Coatings And Finishes
5) By Other Types: Rust Inhibitors, Surface Treatment Chemicals, Buffing And Polishing Compounds
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Which Trends Are Expected To Transform The Metal Finishing Chemicals Market?
The current key trend in the metal finishing chemicals market is product innovation, with companies focusing on enhancing and improving their product offerings. For example, SIFCO ASC, a company based in the US that provides electroplating and anodizing services, released a new and advanced version of their existing plating system in June 2022. This new, cutting-edge electroplating system is fully portable, allowing it to be directly brought to the part or component in need. It offers improved throughput and productivity, while also enhancing safety by reducing ergonomic risks for operators and other personnel. The system is available in two sizes, Nano and Prime, and emphasizes the benefits of selective plating, such as on-site repairs and reduced downtime.
Who Are the Key Players in the Metal Finishing Chemicals Market?
Major companies operating in the metal finishing chemicals market include:
• McGean-Rocho Inc.
• Atotech Deutschland GmbH
• Advanced Chemical Company
• Asterion LLC
• Quaker Houghton Corporation
• A Brite Company
• DOW Chemicals
• Coral Chemical Company
• Elementis plc
• Raschig GmbH
• Chemetall GmbH
• Coventya Chemical Company
• Platform Specialty Products Corporation
• BASF SE
• Element Solutions Inc.
• Henkel AG & Co. KGaA
• C. Uyemura & Co. Ltd.
• Honeywell International Inc.
• Linde plc
• OC Oerlikon Management AG
• Sequa GmbH
• Houghton InternationalIInc.
• Interplex Holdings Pte. Ltd.
• Kuntz Electroplating Inc.
• Pioneer Metal Finishing Inc.
• Roy Metal Finishing Inc.
• Bajaj Electroplaters Pvt. Ltd.
• MacDermid Enthone Industrial Solutions
• Pavco Inc.
• Technic Inc.
What Is The Most Dominant Region In The Metal Finishing Chemicals Market?
North America was the largest region in the metal finishing chemicals market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metal finishing chemicals market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
