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I AgreeAnalysis of Metal Cleaning Chemicals Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global metal cleaning chemicals market is estimated at USD 13.3 Billion in 2022 and is forecast to surpass USD 18.9 Billion by 2032, growing at a CAGR of 3.5% from 2022 to 2032.
Report Attributes |
Details |
Base Year Value (2021A) |
USD 12.9 Billion |
Estimated Year Value (2022E) |
USD 13.3 Billion |
Projected Year Value (2032F) |
USD 18.9 Billion |
Global Growth Rate (2022-2032) |
CAGR 3.5% |
North America Market Share in 2021 |
~26% |
North America Growth Rate (2022-2032) |
CAGR ~3.7% |
Collective Value Share (U.S, China, India) 2022: Top 3 Countries |
~43% |
Top 5 Companies Market Share in 2021 |
~23% |
Key Companies Profiled |
|
The growth in industrialization is leading to regular maintenance of heavy equipment’s and machinery and is thus, spurring demand for quality metal cleaning chemicals. The enhanced usage of metal cleaning chemicals in multiple end-use industries of aerospace, automotive, manufacturing etc. is estimated to provide a gain of 156 BPS to the metal cleaning chemicals market in coming years.
Manufacturers and key players in the cleaning products market are moving to the production of bio-based metal cleaning chemicals or green metal cleaning chemicals alternatives to prevent any hazardous impacts. The major factors driving the market are escalated demand from manufacturing and transportation industry and the rising concern for industrial maintenance and cleaning.
Fact.MR projects the metal cleaning chemicals market is expected to witness exhibiting growth at 3.5% CAGR during 2022 and 2032 in comparison to a CAGR of 2.2% with which it grew from 2017 and 2021.
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The augmented market for green metal cleaners is likely to propel the metal cleaning chemicals market owing to increase in global manufacturing industries. The transportation heavy equipment and machinery requires maintenance so that the performance of the machinery is not hampered. Thus, it requires the wide usage of metal cleaning chemicals for the smooth operational efficiency. Therefore, it is estimated to support market demand by 1/4th of current levels in coming years.
The use of trichloroethylene and other solvent chemicals poses numerous environmental and health risks and are not a preferred choice. Thus, companies are shifting towards safe and sustainable operating practices. The introduction of aqueous based technology and the rising demand for green chemical cleaning alternatives is an environment-friendly and cost-effective means for cleaning components and parts.
This helps in the reduction of industrial waste and improves workplace safety as well. Thus, these factors are likely to support market growth by 2.2X during the forecast years of 2022-2032.
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Animal or plant materials are the main ingredients of bio-based cleaning chemicals. As they are made from a renewable resources, they do not contain environmentally damaging substances like toxins, synthetics etc. Companies in the market are offering innovative bio-based alternatives as a suitable product for removing fuels, carbon, fluids, contaminants like sensitive magnesium, aluminium, etc.
Therefore, the use of bio-based alternatives to avoid hazardous conditions is likely to create lucrative opportunities for the manufacturers in the metal cleaning chemicals market in coming years. It is expected to enhance their sales by 1.3X over the assessment period.
Due to the VOCs content in the solvent based chemicals and usage of water in aqueous cleaners, most of the metal cleaning chemicals are subject to various government authorities and environmental regulations. As the VOCs contain carbon atoms having high vapor pressure, they evaporate rapidly in the air. And after evaporating they form ground-level ozone and are the chief ingredients of smog as well leading to an adverse impact on environment and human health. It leads to reduced growth and survivability of tree seedlings, reduction in crops, harsh weather conditions etc. Therefore, all these factors are likely to restrain the market growth by 0.5X over the assessment period.
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North America metal cleaning chemicals market accounts for the largest market share of 25.8%. The region is projected to register a CAGR of 3.7% during the forecast years. The enhanced usage of eco-friendly metal cleaning chemicals because of the rising consumer awareness with regard to environmental protection and the stringent regulations laid down by the government are some of the factors supporting market growth in North American region.
The East Asia metal cleaning chemicals market holds 21.2% of the overall market share and is projected to grow at a CAGR of 4.1% during the forecast years. The South Asia & Oceania metal cleaning chemicals market holds 20.1% of the overall market share and is projected to register a CAGR of 4.4% over the assessment years.
The high growth in the industrial production, rise in demand for vehicles and enhanced trade are some of the chief factors responsible for augmented usage of metal cleaning chemicals in the region. Moreover, the region presents lucrative opportunities for the manufacturers in the metal cleaning chemicals market for coming years, expected to support market demand in coming years.
The metal cleaning chemicals under product type is segmented into aqueous and solvent. The aqueous is the leading segment as it holds 71.4% of the overall metal cleaning chemicals market share and is projected to register CAGR of 3.8% during the forecast years. This is attributed to the increased awareness about the environmental regulations owing to which the companies are moving away from solvents to aqueous metal cleaning chemicals.
Moreover, the companies are adopting aqueous based cleaners in order to follow sustainable solutions, thereby driving market demand of aqueous based metal cleaning chemicals. The next leading segment is solvent which holds 28.6% of the market share and is likely to grow at a CAGR of 3.2% over the assessment period of 2022-2032.
Under the composition segment, the metal cleaning chemicals market is segmented into acid and alkali. The acid segment dominates the market by holding 68.7% of the overall market share and is projected to grow at a CAGR of 3.9%. This is attributed to the acidic cleaning chemicals being utilized to remove inorganic deposits like flaking.
Additionally, they are more versatile substances, and carries the ability to remove hard water deposits and tarnish from the surfaces along with the all kinds of deposits of ion from metals. Whilst, the alkali segment holds 31.3% of the market share and is projected to register CAGR of 3.1% over the assessment period.
The global metal cleaning chemicals market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the manufacturing of metal cleaning chemicals.
Fact.MR has provided detailed information about price points of key manufacturers in metal cleaning chemicals market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
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The global value of metal cleaning chemicals market is estimated to be worth over USD 13.3 Billion in 2022.
The demand is anticipated to surpass USD 18.9 Billion by 2032 end.
During 2017-2021, global metal cleaning chemicals market grew at 2.2% CAGR.
Some of the prominent players in metal cleaning chemicals market are Eastman Chemical Company, KYZEN Corporation, Crest Chemicals, Quaker Chemical Corporation, ZET-Chemie, etc.
North America tops the global metal cleaning chemicals market accounting for 25.8% of global market share in 2022.
Aqueous metal cleaning chemicals under the product type contributes 71.4% of market share in global sales of metal cleaning chemicals.