Metal Finishing Chemicals Market

Global Metal Finishing Chemicals Market Outlook

The global metal finishing chemicals market is estimated at USD 11.7 Billion in 2022 and is forecast to surpass USD 16.4 Billion by 2032, growing at a CAGR of 3.4% from 2022 to 2032.

Report Attributes	Details
Base Year Value (2021A)	USD 11.3 Billion
Estimated Year Value (2022E)	USD 11.7 Billion
Projected Year Value (2032F)	USD 16.4 Billion
Global Growth Rate (2022-2032)	CAGR 3.4%
North America Market Share in 2021	~26%
North America Growth Rate (2022-2032)	CAGR ~3.6%
Collective Value Share (U.S, China, India) 2022: Top 3 Countries	~39%
Top 5 Companies Market Share in 2021	~19%
Key Companies Profiled	A Brite Company PciChemicals.Com KCH Services Inc. Advanced Chemical Company DuPont Atotech BASF SE Coral Elements Plc McGean-Rohco Inc. Wuhan Jadechem International Trade Co. Ltd. Other Market Players

2017-2021 Global Metal Finishing Chemicals Market Outlook in Comparison to 2022-2032 Growth Forecast

The major driving factor in the metal finishing chemicals market is the escalating automotive fleet size and the augmented demand for durable and wear resistance products. The rising adoption of bio-based finishing chemicals is anticipated to create lucrative growth opportunities for the manufacturers in the metal finishing chemicals market in coming years of 2022-2032.

In addition to this, fueled usage of electroplating processes and polishing offering durability, wear resistance, and high corrosion thereby enhancing appearance is thriving metal finishing chemicals markets. The robust growth in the biopharmaceutical industry is leading to a spur in the metal finishing chemicals market growth and provide a gain of 156 BPS to the market during the forecast years of 2022-2032.

Fact.MR projects the metal finishing chemicals market is expected to witness exhibiting growth at 3.4% CAGR during 2022 and 2032 in comparison to a CAGR of 2.1% with which it grew from 2017 and 2021.

Growing Automotive Industry Propelling Market Growth

Electroplating plays an important role in the automotive industry in metal finishing process. A cost effective method of electrodeposition of provision of corrosion resistance thin wear coating of metal on automotive parts. Therefore, metal finishing chemicals like ammonia, phosphoric acid, nitric acid, sodium hydroxide etc. are in high demand. Thus, the growth in the automotive industry is anticipated to expand the market. This is therefore, estimated to support market growth by 1/5th of current levels in forecast years of 2022-2032.

Growth in Electrical & Electronics and Industrial Machinery to Fuel Market Growth

Electronics components and parts are coated and electroplated to improve corrosion resistance, enhance the electrical conductivity and escalate the solder ability of the component against wear. These chemicals are used in multiple applications in electrical & electronics industry like capacitators, resistors, PCB, semiconductors etc. and involves the usage of rhodium, copper, nickel, silver, platinum, etc. as materials for finishing electronics components. This is estimated to support market growth by 1/6th of current levels in coming years.

In addition to this, the use of metal finishing chemicals in industrial machinery for finishing industrial tools and components etc. is driving additional demand. Moreover, the entry into related industries and targeting new components and markets is likely to provide lucrative opportunities for the manufacturers in the metal finishing chemicals market. This is likely to enhance sales of manufacturers by 1.4X during the forecast years of 2022-2032.

Growth Opportunities in the Market

The substitution of metals by plastics is creating challenges for the growth of the market. However, the market has witnessed recent advancements in the space thereby presenting lucrative growth opportunities in the metal finishing chemicals market. These advancements are likely to enhance the sales in metal finishing chemicals market by 1.7X during the forecast years of 2022-2032.

Region-wise Insights

Which region accounts for more enhanced demand for Metal Finishing Chemicals Market?

North America metal finishing chemicals market accounts for the largest market share of 26.1%. The region is projected to register a CAGR of 3.6% during the forecast years. The demand in North American region is mainly driven by the escalating demand for metal finishing chemicals and their enhanced usage in electronics and electrical industries. In addition to this, the presence of well-established market players in the region is likely to support demand and growth in metal finishing chemicals market in coming years.

What is the market scenario in East Asia and South Asia & Oceania Metal Finishing Chemicals Market?

The East Asia metal finishing chemicals market holds 21.4% of the overall market share and is projected to grow at a CAGR of 3.9% during the forecast years. The South Asia & Oceania metal finishing chemicals market holds 20.5% of the overall market share and is projected to register a CAGR of 4.3% over the assessment years.

The demand in the regions are driven by the growing automotive industry and the growing industrial machinery end-use sector coupled with the growing electrical and electronics industry. In addition to this, the abundant availability of raw material, labor, presence of advanced manufacturing hubs coupled with higher spending power of consumers is to enable growth in the region in coming years.

Category-wise Insights

Which product type holds dominant market share and is likely to show higher growth in Metal Finishing Chemicals Market over the assessment period?

The metal finishing chemicals under product type is segmented into cleaning chemicals, plating chemicals, conversion coating chemicals, etc. Amongst them, the plating chemicals dominates the market by holding 39.8% of the overall market share and is projected to grow at a CAGR of 4.1% during the forecast years.

Effectiveness in enhancing product aesthetics, low friction, corrosion and dust resistance, abrasion resistance coupled with the high demand in end-user industrial application such as construction, automotive etc. is supporting additional demand. Moreover, these plating chemicals provide good electrical insulation and are cost-effective as well. Thus, these factors are leading to a spur in the demand of metal finishing chemicals market.

The next leading segment are cleaning chemicals and conversion coating chemicals which holds 26.5% and 21.2% of the overall market share and are projected to register a CAGR of 3.5% and 3.1% over the assessment period.

Which process segment is estimated to support market growth in the Metal Finishing Chemicals Market during the forecast period?

Under the process segment, the metal finishing chemicals market is segmented into electroplating, pre-treatment, electro-less plating, polishing, etching etc. Amongst them, the electroplating dominates the market by holding 24.5% of the overall metal finishing chemicals market and is projected to register CAGR of 4.9% over the forecast period.

The growth is mainly attributed to the electroplating being the key cost-effective method for deriving non-reactive and reactive materials. Moreover, it provides high resistance to corrosion and is used as a surface lubrication to reduce friction, thereby leading to growth of this segment in coming years.

The next leading segment in the market are electro-less plating and pre-treatment which holds 18.7% and 14.5% and are projected to grow at a CAGR of 4.5% and 4.1% over the assessment period of 2022-2032.

Competitive Landscape: Top Companies in Metal Finishing Chemicals Market

The global metal finishing 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 finishing chemicals.

Fact.MR has provided detailed information about price points of key manufacturers in metal finishing chemicals market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

1. DuPont acquired Laird Performance Materials in 2021. This acquisition will help in advancing the strategy and developing expertise in applications in engineering capabilities coupled with the adoption of high-performance computing, internet of things, 5G telecommunications, artificial intelligence etc.
2. KCH Services Inc. along with HEIL Engineered Products Equipment are being acquired by ECS Environmental Solutions in 2019. This will aid in forming a strong organization to meet odor and air pollution control needs of industrial and municipal customers

Global Metal Finishing Chemicals Market by Category

• By Product Type, Global Metal Finishing Chemicals Market is segmented as:

  • Plating Chemicals
  • Cleaning Chemicals
  • Conversion Coating Chemicals
  • Others

• By Process, Global Metal Finishing Chemicals Market is segmented as:

  • Pre-treatment
  • Electroplating
  • Electro-less Plating
  • De-greasing
  • Polishing
  • Etching
  • Cleaning
  • Chemical Conversion
  • Others

• By Material, Global Metal Finishing Chemicals Market is segmented as:

  • Aluminium
  • Chromium
  • Nickel
  • Zinc
  • Gold
  • Silver
  • Copper
  • Others

• By End-Use Industry, Global Metal Finishing Chemicals Market is segmented as:

  • Electrical & Electronics
  • Automotive & Transportation
  • Industrial Machinery
  • Building & Construction
  • Aerospace
  • Jewellery
  • Others

• By Region, Global Metal Finishing Chemicals Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA