Metal Cleaning Chemicals Market Investment Strategies and Forecast Analysis 2020, Changing Consumer Demand During COVID-19 Pandemic, Says Fact.MR

Posted December 24, 2020 by factmr

Developing regions are likely to perform better in terms of sales of metal cleaning chemicals as compared to developed regions.
The global metal cleaning chemicals market will display moderate growth prospects of ~3.4% CAGR between the forecast years of 2020 and 2030, owing to growing awareness among manufacturers about the benefits of sustainable and safe operational practices. According to the Fact.MR market study, the use of water-based chemical solutions has proven cost-effective and environment-friendly, thereby generating lucrative growth opportunities in the long-term. The market is likely to be negatively affected by the ongoing pandemic owing to reduced activity in the manufacturing sector, and the resultant decline in demand for cleaning products.

"The metal cleaning chemicals market is positively influenced by a higher rate of metal consumption in manufacturing sectors. These include automotive, consumer appliances, aerospace, telecommunications, and electrical & electronics, which require a wide range of metal materials including titanium, steel, aluminum, and cast iron." says the FACT.MR analyst.

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Metal Cleaning Chemicals Market- Key Takeaways

Acidic variants of metal cleaning chemicals are expected to display faster growth, especially for copper cleaning applications in electrical and automotive sectors.
Appliance sector applications provide lucrative opportunities owing to the widespread popularity of steel and copper kitchenware.
Europe is a major regional market for metal cleaning chemicals led by Germany, and supported by construction and automotive sector applications.

Metal Cleaning Chemicals Market- Driving Factors

The introduction of bio-based cleaning chemicals is positively influencing developments in the metal cleaning chemicals market.
Demand for metal cleaning chemicals in heavy-duty equipment and machinery for the global manufacturing and aerospace sectors supports growth.

Metal Cleaning Chemicals Market- Major Restraints

Safety concerns and environment regulations are major factors limiting the adoption and use of conventional metal cleaning chemicals.
The harsh nature of many metal cleaning chemicals potentially damages metal surfaces, limiting scope of use.

COVID-19 Impact on Metal Cleaning Chemicals Market

The impact of the global coronavirus pandemic on the metal cleaning chemicals market has been negative. Reduced consumption of chemicals at an industrial level, and the shut down of production facilities owing to lockdown restrictions has hurt short-term prospects.

However, market players are likely to find lucrative opportunities in terms of cleaning and disinfecting applications, especially in the healthcare sector. The growth of industrialization of emerging economies in the post-pandemic period is likely to aid a faster recovery of the metal cleaning chemicals market.

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Competitive Landscape

Air Products and Chemicals Inc., The Chemours Company, Dow DuPont Inc., Stepan Compnay, Eastman Chemical Company, Rochestor Midland Corporation, Houghton International Inc., Quaker Chemical Corporation, and Oxiteno are some of the leaders in the metal cleaning chemicals market.

Metal cleaning chemicals market players have been displaying growing interest on the expansion of product portfolio along with strategic collaborations in the industry to consolidate supply chains and distribution.

For instance, In December 2020, Solvay Novecare entered into an agreement with Univar Solutions for the distribution of chemicals and coating products including metal cleaning chemicals for consumers in Canada and the United States.

In November 2020, AGC Chemicals Americas unveiled AMOLEA AT2 and AsahiKlin AE-3000 types of fluorinated metal cleaning solvents for the aerospace sector.

SMG Industries Inc. joined hands with Ashburn Chemical Technologies for distribution of chemical cleaning agents for hygiene and healthcare applications.

About the Report

This study offers readers a comprehensive market forecast of the metal cleaning chemicals market. Global, regional and country-level analysis of the top industry trends impacting the metal cleaning chemicals market is covered in this Fact.MR study. The report offers insights on the metal cleaning chemicals market on the basis of metal (steel, aluminum, copper alloys, and others), and type (aqueous metal cleaning chemicals and solvent metal cleaning chemicals), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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Last Updated December 24, 2020