by The global metal cleaning chemicals market is poised for significant growth, driven by soaring demand from manufacturing and aerospace industries. The importance of ensuring products are free from impurities, even fresh from the factory, cannot be overstated. Whether its shipping a brand-new product from a manufacturing plant or refurbishing reliable machinery, the removal of rust, chemicals, and unwanted lubricants is essential to ensure proper functionality upon arrival at their destinations.
Improperly functioning equipment can lead to production delays, increased labor hours, and missed opportunities, impacting clients bottom lines. Moreover, residues from chemicals, oils, and greases can compromise final products, hindering processes like industrial painting and introducing undesirable agents into controlled environments.
Asia Pacific Industrialization and Emerging Economies Fuel Market Expansion
The aftermath of the COVID-19 pandemic has witnessed robust industrialization in the Asia Pacific region, accompanied by a surge in emerging industries. These factors are projected to be key drivers of growth in the global metal cleaning chemicals market. Increased metal demand, rising requirements for industrial cleaning and maintenance, expanded use of large machinery, and the growth of automotive, aerospace, and manufacturing sectors are among the factors propelling this market forward.
The global manufacturing sectors expansion plays a pivotal role, with heavy machinery maintenance being a common practice to ensure peak performance. This has led to widespread usage of metal cleaning chemicals across various industries that heavily rely on large machinery. The demand for metals is rising, particularly in emerging economies, as the automotive and manufacturing industries expand. In 2020, global crude steel production reached 1,877.5 million metric tons, further emphasizing the need for metal cleaning chemicals to remove oil, grease, and corrosion and extend the lifespan of these valuable assets.
Aerospace Industry Growth Spurs Market
The aerospace industrys rapid expansion, where these chemicals are vital for preventing component corrosion, is another significant growth driver. Despite challenges posed by the COVID-19 pandemic, the global aviation fleet is expected to comprise 25,578 planes in service by 2022, a number projected to reach 38,189 by 2032. Consequently, the metal cleaning chemicals market is poised to benefit from this surge in emerging aerospace industries.
Aqueous Cleaners Dominate Market Share
Aqueous cleaners are forecasted to dominate the global metal cleaning chemicals market during the projection period. The increased awareness of environmental regulations has prompted industries to shift from solvent-based to aqueous-based metal cleaning solutions. Companies seeking sustainable options are turning to aqueous-based cleaners, which offer cost-effective and environmentally friendly methods for cleaning and degreasing metal components. This shift not only reduces industrial waste but also enhances workplace safety, driving market growth.
Asia Pacific Emerges as a Key Opportunity Hub
During the projected period, Asia Pacific is anticipated to lead in terms of both volume and value in the metal cleaning chemicals market. The regions rapid economic growth, rising disposable incomes, extensive industrial production, increasing trade, and surging automobile demand all contribute to its prominence. China, Japan, and India are the regions key markets for metal cleaning chemicals, with their booming industrial production, automobile demand, and trade activities driving substantial growth.
North Americas Eco-Friendly Shift Drives Demand
North America also presents a significant market for metal cleaning chemicals, driven by the increasing use of eco-friendly options due to heightened environmental awareness and stringent government regulations. The aerospace sectors growing demand, especially in the United States, is a notable contributor to market expansion. In 2020, the United States had an estimated commercial aircraft fleet of 5,882 aircraft, highlighting the sectors potential in supporting the growth of the metal cleaning chemicals market.
Competitive Landscape
Market players are actively introducing new products and forming alliances, collaborations, and partnership agreements to capitalize on these growth opportunities. For instance, in November 2020, Evonik completed its acquisition of the Porocel Group, expanding its catalyst range. Additionally, Firbimatic Spa introduced the SFK Evolution 50, a custom alcohol degreasing system designed for UTC / Collins Aerospace, highlighting the industrys commitment to innovation.
Key players in the global metal cleaning chemicals market include BASF SE (Germany), Evonik Industries AG (Germany), Stepan Company (US), Eastman Chemical Company (US), The Chemours Company (US), Quaker Houghton (US), The Dow Chemical Company (US), 3M Company (US), Nouryon (Netherlands), and Element Solutions (US).
The global metal cleaning chemicals market is poised for significant growth, driven by the growing demand from diverse industries and the shift toward eco-friendly cleaning solutions. As manufacturing, aerospace, and industrial sectors continue to expand, the need for high-quality metal cleaning chemicals remains paramount in ensuring operational excellence and product integrity.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/metal-cleaning-chemicals-market
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This press release first seen on Brilad
COMTEX_442085741/2840/2023-10-18T16:49:23
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.