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LONDON, GREATER LONDON, UNITED KINGDOM, September 25, 2024 /EINPresswire.com/ -- The metal cleaning chemicals market has experienced robust growth in recent years, expanding from $16.93 billion in 2023 to $17.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to automotive industry expansion, stringent environmental regulations, rise in aerospace manufacturing, focus on product quality, growing electronics industry, oil and gas exploration activities.
What Is The Estimated Market Size Of The Global Metal Cleaning Chemicals Market And Its Annual Growth Rate?
The metal cleaning chemicals market is projected to continue its strong growth, reaching $22.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising demand for sustainable solutions, emergence of electric vehicles, global expansion of renewable energy projects, medical device manufacturing, focus on corrosion prevention.
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Growth Driver Of The Metal Cleaning Chemicals Market
The surging demand for metals is expected to propel the growth of the metal cleaning chemicals market going forward. Metals are naturally occurring substances characterized by high electrical and thermal conductivity. Metal cleaning chemicals are used for cleaning and protecting the surface of metals from rusting and corrosion. Hence, metal cleaning chemicals find application in metal manufacturing processes.
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Which Market Players Are Driving The Metal Cleaning Chemicals Market Growth?
Key players in the tem market include Air Products and Chemicals Inc., DuPont de Nemours Inc., Emerson Electric Company, Houghton International Inc., Oxiteno SA, Rochester Midland Corporation, Stepan Company, The Chemours Company, Badische Anilin und Soda Fabrik, NuGenTec Company, KYZEN Corporation, Lincoln Chemical Corporation, Delstar Metal Finishing Inc., Crest Chemicals, Zavenir Daubert India Pvt. Ltd., Modern Chemical Inc., Hubbard Hall Inc., Israel Chemicals Ltd., PCC Chemax Inc., Zep Inc., Chemetall GmbH, Diversey Inc., Henkel AG & Co KGaA, 3M Company, Nihon Parkerizing Co. Ltd., Aervoe Industries Inc., Corrosion Reaction Consultants Ltd., Luster-On Products Inc., Metalloid Corporation, Oakite Products Inc., The DeBruce Companies, The HallStar Company, The Valspar Corporation, Troy Chemical Industries Inc., U.S. Polychemical Corporation, Valtech Corporation, Zaclon LLC.
What Are the Key Trends That Influence The Metal Cleaning Chemicals Market Size?
Major companies operating in the metal cleaning chemicals market are adopting a strategic partnership approach, aiming to form a joint venture for the commercial manufacture of non-ionic surfactants. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
How Is The Global Metal Cleaning Chemicals Market Segmented?
1) By Ingredients: Chelating Agent, Surfactant, Solvents, Solubilizers pH Regulators, Other Ingredients
2) By Cleaner: Aqueous, Solvents
3) By Applications: Steel, Aluminum, Copper Alloys, Brass, Other Applications
4) By End-Use Industry: Automotive and Aerospace, Manufacturing, Healthcare, Other End-Use Industries
Geographical Insights: Asia-Pacific Leading The Metal Cleaning Chemicals Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Metal Cleaning Chemicals Market Definition
Metal cleaning chemicals are liquids such as surfactants that are used to clean the metal surface and remove any rust, scales, and welding scales off the metal surface.
The ingredient involved in metal cleaning chemicals are chelating agent, surfactants, solvents, solubilizers pH regulators, and others. A chelating agent is a chemical component that reacts with metal ions to form metal complexes. The clear involved are aqueous, and solvents that are used for steel, aluminum, copper alloys, brass, and other applications by automotive and aerospace, manufacturing, healthcare, and other end-use industries.
Metal Cleaning Chemicals Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global metal cleaning chemicals market report covering trends, opportunities, strategies, and more
The Metal Cleaning Chemicals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on metal cleaning chemicals market size, metal cleaning chemicals market drivers and trends, metal cleaning chemicals market major players and metal cleaning chemicals market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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