PUNE, India, November 23, 2015 /PRNewswire/ --
The report "Metal Cleaning Chemicals Market by Type (Aqueous & Solvent), by Metal Type (Steel, Aluminum, Copper Alloys & Others), by Region - Global Trends & Forecasts to 2020", published by MarketsandMarkets, The Metal Cleaning Chemicals Market size by value is projected to reach USD 16.3 Billion by 2020, registering a CAGR of 4.9% between 2015 and 2020.
Browse 82 market data Tables and 52 Figures spread through 132 Pages and in-depth TOC on "Metal Cleaning Chemicals Market".
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"Asia-Pacific is the key market for metal cleaning chemicals"
Asia-Pacific dominated the metal cleaning chemicals market in 2014. China is the key market for metal cleaning chemicals and accounted for more than 22% of the global metal cleaning chemicals market. The demand is high due to huge demand from the automotive and industrial sectors. The growing manufacturing activities in China, India, and Japan are likely to be major boost to the growth of the metal cleaning chemicals market.
The European market for metal cleaning chemicals is growing from the residential and aerospace sectors. North America accounted for the third-largest market share for metal cleaning chemical in 2014 and is expected to show steady demand in the coming years. The metal cleaning chemicals market in the RoW, especially, in the Middle East & Africa is expected to grow at a good pace in next few years.
"Aqueous-based metal cleaners to dominate the global metal cleaning chemicals market"
The metal cleaning chemicals market is dominated by aqueous-based metal cleaners and accounted for 84% of the overall market in 2014. The market for aqueous metal cleaning chemicals is projected to register a CAGR of 5.3% between 2015 and 2020. While there was growth in sales of aqueous metal cleaning chemicals, there have been moves toward solvent-based metal cleaners. Recent technical advancement may make solvent cleaning a more cost-effective solution than aqueous cleaning in certain critical applications. Use of solvent-based metal cleaners is, especially, seen in the Asia-Pacific region due lax environmental regulations. Similarly, the Middle East & Africa also enjoys the use of solvent-based metal cleaners due to flexible regulations and policies.
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"Steel (metal type) to dominate the global metal cleaning chemicals market"
Steel is one of the most common materials used in the world and it accounted for more than 80% of the overall cleaning chemicals used in 2014. The Asia-Pacific region is experiencing record sales growth of cleaning chemicals for steel as the region is expected to see decent growth in steel demand. In Asia-Pacific, China, India, and other developing economies are expected to drive the metal cleaning chemicals.
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