Kenneth Research recently added a report on ‘Metal Cleaning Chemicals Market’ which offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. The report contains the market size and annual growth rate for a forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Metal Cleaning Chemicals Market products.
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The global Metal Cleaning Chemicalsmarket was valued at USD 13.56billion in 2016 and is projected to reach USD 20.51billion by 2025, growing at a CAGR of 4.7% from 2017 to 2025.
Metal Cleaning Chemicals has been gathering a lot of attention owing to increasing focus on product quality and shelf life. The use of metal cleaning chemicals on metal parts increases the shelf life of the machines. The advent of natural solvent based metal cleaning chemicals is expected to boost market demand.
1. Market Drivers
1.1 Increase in metal consumption
1.2 Increasing concern regarding cleaning and maintenance
2. Market Restraints
2.1 Stringent government and environment regulations
The global Metal Cleaning Chemicals market is segmented on the product, metal typeand region.
1. By Product:
1.1 Aqueous Metal Cleaning Chemicals
1.1.1 Surfactants, Builders
1.1.2 Emulsion Cleaners
1.1.3 Sequestrants and Inhibitors
1.2 Solvents Metal Cleaning Chemicals
1.2.1 Oxygenated Solvents
184.108.40.206 Glycol Ethers
1.3 Hydrocarbon solvents
1.4 Halogenated solvents
2. By Metal Type:
2.3 Copper Alloys
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Stepan Company
2. Air Products and Chemicals
3. Houghton Intenational
4. DOW Chemical Company
5. Eastman Chemical Company
6. Rochestor Midland Corporation
8. Emerson Electric
9. The Chemours Company
10. Quaker Chemical Company
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Metal Cleaning Chemicalsmarket was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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