Los Angeles, CA -- (SBWIRE) -- 10/04/2021 -- Rising automation, electronics, and aerospace industries is largely affecting demand of metal finishing chemicals as require regular maintenance of metals. QY Research recently published a report titled, "Global Metal Finishing Chemicals Market Research Report 2020". The global metal finishing chemicals market is valued at US$8909.9 mn in 2020 and is expected to reach US$8297.9 mn by the end of 2026, rising at a CAGR of -1.0% during 2021-2026.
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Demand for Metal Finishing Chemicals to Rise as they Protect and Enhance Appearance of Equipment
Metal finishing chemicals are used in automation, electronics & electricals, and aerospace industries. Automotive and aerospace industries holds a huge demand as it is used to protect equipment and vehicle's interior and exterior parts from premature wear, corrosion, and enhance the appearance. They are also being increasingly used in electronics & electricals for electrical conductivity, corrosion resistance, and solder ability of etching, printed circuit boards, and degreasing metal substrates.
Additionally, it is also used in industrial machinery and transportation equipment to enhance their chemical resistance, hardness, tarnish resistance, and torque tolerance. Aforementioned factors are expected to boost demand for metal finishing chemicals owing to its increasing applications in automation, electronics, and aerospace industries.
Motor Vehicle Equipment Segment to Grow Exponentially in Forecast Years
Electroplating and polishing are two processes that have been adopted by all the manufacturers in the automotive industry. These processes help them protect vehicle's interior and exterior parts from premature wear, corrosion, and also enhance the appearance. As both electroplating and polishing require heavy usage of metal finishing chemicals its demand is expected to grow exponentially from the motor vehicle equipment segment.
Asia Pacific Region to Observe Robust Demand for Metal Finishing Chemicals
Rise of automotive industry in countries like India and China is expected to report high demand for metal finishing chemicals. Additionally, rapid industrialization and automation is also accelerating demand of chemicals from different industries. Thus, increasing the demand of chemicals from Asia Pacific region.
Manufacturers to Focus on Developing and Expanding its Products in Aerospace Industry
Chemetall has recently started its operation of its new laboratory and office building in Langelsheim, Germany. They have completed the expansion of its new site in Lower Saxony. It will focus on developing and producing aerospace technologies and Naftoseal aircraft sealants. The company through its new laboratory is focusing at development and expansion of its products in aerospace industry.
The major players in the market include Aotco, JacksonLea, Atotech, Houghton, Kyzen, DowDuPont, JAX, BroCo, Quaker, Taiyo, PCI, Chenkai, Potencer, A Brite, TIB, Shinechem, Tenghui, Parkerizing, Heatbath, EPI, Asterion, Daiwa Kasei, and others.
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