Metal Finishing Chemicals Market size is set to record commendable growth between 2023 to 2032 in view of rising product usage in the electroplating and polishing processes.
These chemicals offer high corrosion and wear resistance while enhancing the material appearance. Expansive growth in the automotive sector will elevate the demand for wear-resistant and durable products. While robust growth in the biopharmaceutical sector is slated to boost the utilization of metal-finishing chemicals through 2032.
New R&D activities in the metal finishing chemicals space are likely to present lucrative growth opportunities for manufacturers.
PCBs are expected to make use of metal finishing chemicals in the coming years as these chemicals are used for cleaning and etching these surfaces. Furthermore, it also helps in controlling and altering several surface properties like electrical conductivity, chemical resistance, corrosion resistance, tarnish resistance, hardness, and more.
In terms of materials, the metal finishing chemicals market share from the zinc metal segment is anticipated to procure commendable growth through 2032. Zinc plating is considered to be a prominent process when it comes to metal finishing chemicals. It significantly increases the corrosion resistance of the underlying substrate as well as boasts other significant attributes like low-stress deposit, low cost, high-temperature tolerance, increased strength, ductility, flexibility, and more. These factors are expected to offer a boost to the zinc metal finishing market by 2032.
Metal finishing chemicals industry is likely to expand in the automotive sector as these chemicals are used to improve wear resistance and protection of metal components from corrosion. Along with this, metal finishing chemicals can enhance the finish on non-metal and metal parts and further metalize the plastic components to enhance durability.
North America metal finishing chemicals market size is recording expansive growth and is estimated to elevate further by 2032 due to increasing demand for these chemicals in the region. The thriving sectors of electrical and electronics, and automotive will have a major influence on the market growth. According to National Automobile Dealers Association, new light-vehicle sales in the US increased by 9.3% to an annual rate of 14.82 million units in March 2023.
Global metal finishing chemicals market key players include Quaker Chemicals Corp, Atotech Deutschland GmbH, C. Uyemura & Co. Ltd, McGean Specialty Chemicals Group, Lonza Group, amongst others. These industry players have been working towards bringing new innovations into the space by utilizing business strategies like collaborations, acquisitions, and partnerships. For instance, in 2022, Lonza announced the completion of the planned expansion of its facility in Visp, Switzerland.
The Russia-Ukraine war is expected to impact the metal-finishing chemicals market due to supply chain issues for automotive components and parts. Leading passenger vehicle (PV) automakers that produce and export from Russia are facing the heat of the conflict. Such a scenario could inflict revenue growth of the metal-finishing chemicals market. However, measure to improve economic conditions and attract business could favor the market over the ensuing years.