Global Metal Cleaning Chemicals Market Size Set to Cross USD 19 Billion by 2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates the Global Metal Cleaning Chemicals Market size at USD 13.73 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global metal cleaning chemicals market size to grow at a steady CAGR of 4.9% reaching a value of USD 19.07 billion by 2029.

Nov 30, 2022 07:31 131 0

Global Metal Cleaning Chemicals Market Size Set to Cross USD 19 Billion by 2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimates the Global Metal Cleaning Chemicals Market size at USD 13.73 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global metal cleaning chemicals market size to grow at a steady CAGR of 4.9% reaching a value of USD 19.07 billion by 2029. Major factors for the expansion of global metal cleaning chemicals market include increasing adoption of aqueous-based metal cleaning chemicals and a surging demand of the metal cleaning chemicals from manufacturing, aerospace, and transportation industries. In addition, industrialization is increasing the need for routine maintenance of heavy equipment and machinery, which is driving up demand for superior metal cleaning chemicals. The rising use of metal cleaning chemicals in a variety of end-use industries, such as aerospace, automotive, and manufacturing, is expected to boost the metal cleaning chemicals market in the coming years. To avoid any negative consequences, manufacturers and major players in the cleaning goods industry are transitioning to the manufacturing of bio-based metal cleaning chemicals or green metal cleaning chemicals alternatives. The primary drivers of the market include an increasing demand from the manufacturing and transportation industries, as well as rising concern for industrial maintenance and cleaning. However, government and environmental regulations are anticipated to limit the overall market growth.

Global Metal Cleaning Chemicals Market– Overview

Metal cleaning chemicals are employed to eliminate unwanted organic and inorganic material from metal surfaces, which are frequently contaminated over time by oil, grease, dirt and particle matter, corrosion oxides, and other contaminants. Surface cleaning is required to protect the metal from corrosion caused by the penetration of oxides and other impurities, hence extending service life. Hard water, biological materials, such as algae, microorganisms, denatured protein waste, animal fat, and hydrocarbons, and inorganic materials, such as carbonates, hydroxides, oxides, sulfides, sulfates, silicates, and phosphates, are all known to corrode metals. Metal cleaning solutions are also utilized in both industrial and domestic settings. They are extensively used in the cleaning of heavy machinery and equipment in industries, such as automotive and aerospace, electrical and electronics, and manufacturing industries, such as chemicals, healthcare, and food and beverages. Metal cleaning solutions are also used to clean kitchen appliances, such as copper and its alloys, silver, and cast iron.

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Opportunity: Increasing adoption of bio-based alternatives

Bio-based cleaning solutions are mostly composed of animal or plant resources. As they are manufactured from renewable resources, they do not include environmentally harmful compounds, such as toxins and synthetics. Companies in the global metal cleaning chemical market are introducing modern bio-based alternatives as a suitable solution for eliminating fuels, carbon, fluids, pollutants, such as sensitive magnesium and aluminum. As a result, the usage of bio-based substitutes to minimize unsafe conditions is projected to provide lucrative prospects for manufacturers of metal cleaning chemicals.

Impact of COVID-19 on Global Metal Cleaning Chemicals Market

Covid-19 had a detrimental effect on global metal cleaning chemicals market, due to lockdowns in several countries as well as the closure of several manufacturing firms. Among those affected were the aerospace, automobile, and electronics industries. Industrial usage decreased, with the exception of industries that offer crucial services, as a direct effect of the closure of production unit. However, due to Covid-19 pandemic, there has been an increase in the use of cleaning chemicals across a wide range of product categories, such as disinfectants, all-purpose cleaners, surface cleaners, detergents, soaps, body washes, and lotions, to prevent disease transmission from person to person and from the environment. The need of cleaning activities has grown dramatically. Personal hygiene and keeping surfaces clean were necessary steps to contain the virus, thereby resulting in the expansion of metal cleaning chemicals market.

Global Metal Cleaning Chemicals Market – By End-Use Industry

Based on end-use industry, global metal cleaning chemicals market is segmented into Automotive & Aerospace, Manufacturing, and Healthcare industries. Among these, the manufacturing end-use industry accounts for a sizable market share. Many metal components are employed in the manufacturing industry during the fabrication of final products, such as heavy machinery, and a considerable volume of metal cleaning chemicals are necessary to clean such components. Burgeoning manufacturing operations in emerging countries are driving up demand for metal cleaning chemical compounds.
Competitive Landscape

Major players operating in global metal cleaning chemicals market include BASF SE, Evonik Industries, Stepan Company, Eastman Chemical Company, The Chemours Company, The Dow Chemical Company, Quaker Chemical Corporation, Nouryon, 3M Company, Element Solutions, Hubbard-Hall Inc, Lincoln Chemical Corporation, Delstar Metal Finishing, Inc, LS Industries, and Cemastir Lavametalli SrL. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.