According to a report published by Fact.MR, the global metal cleaning chemicals market is growing at a moderate pace, and is anticipated to record a CAGR of 3.4% from 2020 to 2030. One of the crucial drivers influencing the growth of the metal cleaning chemicals market is the rise in demand for aqueous metal cleaners from end-use industries requiring maintenance for their machinery. On the other side, several studies have shed light on the VOC contents of these metal cleaning chemicals that lead to the production of smog. Smog is found to have ill-effects on the bodies of animals and human beings. Given this influence, governments of numerous countries, especially developed ones, have imposed bans or imposed limitations on the production of metal cleaning chemicals.
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Opportunities await for the metal cleaning chemicals market in the form of green and clean alternatives. Manufacturers have been considering the gravity of these impositions, and are striving to develop bio-based alternatives that are friendly to human beings and the environment. As a result, the metal cleaning chemicals market could witness an uptick in sales during the forecast period of 2020 to 2030.
Key Takeaways from Metal Cleaning Chemicals Market Study
- Among the metals, steel is set to contribute a significant share to the metal cleaning chemicals market during the forecast period, on account of the cleaning requisites for household and industrial machinery and equipment.
- Aqueous metal cleaning chemicals are likely to remain preferred cleaning agents over the solvent ones, owing to their degreasing and anti-corrosive properties, which are found to be favorable for cleaning hard surfaces and stains.
- Asia Pacific is anticipated to hold optimum opportunities for the advancement of the metal cleaning chemicals market during the forecast period. Growth will be underpinned by rapid rise in industrialization.
- The metal cleaning chemicals market will grow at a slow pace in North America and Europe, owing to strict impositions regarding the production of toxic cleaners that have an adverse impact on the surroundings.
- Increasing importance of hygiene, owing to the spread of coronavirus, is expected to push the growth of the metal cleaning chemicals market to a positive scale. On the flip side, lockdowns could deter demand coming in from various end-use industries.
“Looking at the current market scenario, growth of the metal cleaning chemicals market seems steady under the effect of the pandemic. However, green alternatives to these products and demand for metal cleaning chemicals from the transportation industry upon the commencement of industrial operations are likely to boost opportunities for the market,”opines a seasoned analyst at FACT.MR.
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Metal Cleaning Chemicals Market: Key Players
Chemicals market players have been leveraging both, organic as well as inorganic growth strategies to survive and grow in the industry. Organic strategies adopted by players in the metal cleaning chemicals market include product launches, development of patents, product approvals, and organization of events.
- For instance, Eastman Chemical Company has been operating as a specialist for the production of hard surface cleaners and industrial metal cleaners with its wide range of solvents used for metal cleaning.
Moreover, inorganic means of growth in the metal cleaning chemicals market are in the form of acquisitions, expansion, mergers, and increase in production capacity.
- For instance, Stephan Company has zoomed-in its focus on the acquisition strategy to supply the growing demand for the product. In March 2020, it announced that it had acquired NatSureFact Business from Logos Technologies for its rhamnolipid-based product line of bio-surfactants that are obtained from renewable sources.
- In addition, Evonik Industries, another key player operating in the metal cleaning chemicals market, announced that it had doubled its production capacity of polyamide Trogamid CX at its Marl facility based in Germany, as of April 2020.
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The report covers following Metal Cleaning Chemicals Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on Metal Cleaning Chemicals Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Metal Cleaning Chemicals Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Metal Cleaning Chemicals Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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