NEW YORK, March 23, 2017 /PRNewswire/ -- "Growing use in the automotive and steel industries is a prime factor in the growth of the metal finishing chemicals market"
The global metal finishing chemicals market is projected to reach USD 11.21 billion by 2021, at a CAGR of 4.7%. Most of the growth is fueled by the rising investments in new manufacturing plants for automotive and aerospace development in various countries. This growth stems from a rise in the demand for the manufacture of interior and exterior components using metal finishing chemicals in the automotive and aerospace industries which provide superior wear resistance and corrosion resistance properties.
"Zinc (Zn) is the fastest-growing material type segment in the metal finishing chemicals market"
Zinc (Zn) is the fastest-growing type segment in terms of value in the metal finishing chemicals market. It possesses sacrificial corrosion protection, paint adhesion, decorative coating, and anti-galling. These properties make it suitable for a wide range of end-use industry applications such as the manufacture of shock absorbers, heat sinks, gears, cylinders, capacitors, and semiconductor components.
"Rising demand in Asia-Pacific is the major driver in the metal finishing chemicals market"
The Asia-Pacific region is the fastest-growing metal finishing chemicals market, in terms of value. High economic growth rate, growing manufacturing industries, cheap labor, increasing foreign investments, and rise in the applications of metal finishing chemicals across the automotive, industrial machinery, and electrical & electronics industries, are some of the major factors expected to fuel the growth of the market. Countries such as China, South Korea, and Japan, which are major hubs in the production of electronic components, are expected to drive the market in the Asia-Pacific region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type: Tier 1 – 33%, Tier 2 – 60%, and Others – 7%
- By Designation: C level – 56%, Director level – 33%, and Others – 11%
- By Region: North America – 25%, Europe – 17%, Asia-Pacific – 42%, Middle East & Africa – 8%, and South America – 8%
The key companies profiled in this report 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).
The market is segmented based on process, material, type, end-use industry, and region. This report covers the metal finishing chemicals market, in terms of value and forecasts its market size till 2021. The report also provides company profiles and competitive strategies adopted by the key players in the global metal finishing chemicals market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the metal finishing chemicals market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
2. It will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. It will help stakeholders understand competitors and gain more insights to better their positions in the business. The competitive landscape section includes new product developments, partnerships, and mergers & acquisitions.
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