PUNE, India, March 17, 2017 /PRNewswire/ --
The report "Metal Finishing Chemicals Market by Type (Cleaning, Conversion Coating, Proprietary), Process (Electroplating, Polishing, Anodizing), Material (ZN, NI, CR, CU, AU), End Use (Automotive, Electrical & Electronics), Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from an estimated USD 8.91 Billion in 2016 to USD 11.21 Billion by 2021, at a CAGR of 4.7%.
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Browse 73 market data Tables and 47 Figures spread through 161 Pages and in-depth TOC on "Metal Finishing Chemicals Market"
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The market is driven by the growing demand for metal finishing chemicals from the automotive industry, as these impart corrosion resistance, wear resistance, electrical conductivity, electrical resistance, reflexivity and appearance, torque tolerance, hardness, and chemical resistance properties for the metal substrate.
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Zinc (Zn): The largest material type segment in the metal finishing chemicals market
Various materials are being used in metal finishing, including zinc, nickel, chrome, copper, gold, silver, and platinum, among others. Among these, zinc is estimated to have accounted for the largest market share due to its easy availability and cost-efficiency. It is also suitable for various applications such as anchors, cleats bolts, coaxial cables, batteries, and plating on plumbing fixtures in the automotive, aerospace & defense, construction, and electrical & electronic industries. Zinc material coating provides benefits such as sacrificial corrosion protection, paint adhesion, decorative coating, and anti-galling to the base metal.
Automotive: The largest end-use industry in the metal finishing chemicals market
Metal finishing chemicals are used in various end-use industries such as electrical & electronics, automotive, industrial machinery, construction, aerospace & defense, and others. The automotive end-use industry is estimated to have accounted for the largest market share due to the increasing usage of these chemicals in metal finishing for shock absorbers, heat sinks, gears, cylinders, and capacitors. The construction industry is projected to grow at the highest CAGR from 2016 to 2021, in terms of value, among all the industries considered.
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Asia-Pacific: The fastest growing market for metal finishing chemicals
The Asia-Pacific region is the fastest growing market for metal finishing chemicals. Factors driving the metal finishing chemicals market in the Asia-Pacific region are:
Key players in the Metal Finishing Chemicals Market are, Atotech Deutschland GmbH (Germany), Chemetall (Germany), The Dow Chemical Company (U.S.), Elementis plc (U.K.), Platform Specialty Products Corporation (U.S.), Advanced Chemical Company (U.S.), Coral Chemical Company (U.S.), Houghton International, Inc. (U.S.), McGean-Rohco, Inc. (U.S.), and NOF Corporation (Japan).
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