Global Metal Finishing Chemicals Market 2017-2021
About Metal Finishing Chemicals
Metal finishing chemicals are used in both pre- and post-treatment of metals. Surface preparation is a mandatory step in the metal finishing process. Metal finishing imparts durability, abrasion resistance, torque resistance, brightness, color and shine, solderability, tarnish resistance, chemical resistance, and hardness in final-stage production-ready metal components.
Technavio’s analysts forecast the global metal finishing chemicals market to grow at a CAGR of 4.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global metal finishing chemicals market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Metal Finishing Chemicals Market 2017-2021
Technavio recognizes the following companies as the key players in the global metal finishing chemicals market: BASF, Elementis, NOF CORPORATION, Platform Speciality Products, and The Dow Chemical Company.
Other Prominent Vendors in the market are: A Brite Company, Coral, COVENTYA, Henkel, Houghton International, Industrial Metal Finishing, McGean-Rohco, and Metal Finishing Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing demand for powder coating. Powder coating falls under the category of metal conversion coatings in the metal finishing chemicals market. In recent years, powder coating is gaining popularity over other types of coatings due to its eco-friendly nature. It eliminates many issues related to liquid coating such as the emission of hazardous pollutant.”
According to the report, one of the major drivers for this market is growing demand from automotive industry. The global automotive industry is experiencing a steady growth with increasing sales automobiles. In the automotive industry, the small vehicle segment consisting of microcars, superminis, and subcompacts accounts for approximately 30.23% of global vehicle sales. It is expected to reach over 30.53 million units by 2020. Nearly 58.96% of the small car segment is occupied by emerging economies with growth expectation of 5.31%-6.28% per year till 2020.
Further, the report states that one of the major factors hindering the growth of this market is replacement of metals by plastics. The major challenge faced by metal finishing chemical manufacturers is the replacement of metals by plastics. Owing to easy availability and low cost, replacement of metals by plastics is taking place in various applications. For instance, the automotive and aerospace industries are actively substituting all metal products with plastics to aid in fuel efficiency by reducing the overall weight of the vehicle.
BASF, Elementis, NOF CORPORATION, Platform Speciality Products, and The Dow Chemical Company. Other Prominent Vendors in the market are: A Brite Company, Coral, COVENTYA, Henkel, Houghton International, Industrial Metal Finishing, McGean-Rohco, and Metal Finishing Technologies.
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