Global Metal Finishing Chemicals Market: Key Highlights
Global Metal Finishing Chemicals Market: Key Market Dynamics
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Global Metal Finishing Chemicals Market: Regional Overview
North America is anticipated to experience a substantial growth in the metal finishing chemicals market during the forecasted period forecasted period owing to growing aerospace and electrical & electronic industry. According to Aerospace Industries Association (AIA), in 2018, the U.S. Aerospace & Defense industry generated USD 929.5 billion in sales revenue and generated USD 151 billion worth export in 2018. However, stringent regulations in U.S. related to metal finishing industry, due to one of the highly chemical sensitive industry is likely to be major restraint for the metal finishing chemicals market in this region.
Asia Pacific is anticipated to be the fastest growing region in metal finishing chemicals market during the forecasted period. This is attributed to the extensive demand from automotive sector and increased regulations implemented by governing authorities in countries such as China, and India. For instance, Make in India initiative undertaken by Indian government has promoted the manufacturing unit and demand for vehicles in the country, escalating the demand for metal finishing market. Moreover, growing electronic and electrical sector in Taiwan, China, Korea, Japan and India has anticipated to further fuel the demand for market in the region.
Global Metal Finishing Chemicals Market: Key Players Overview
BASF SE is German-based company and one of the largest chemical producer across the globe. The company operates in six business segments including, Chemicals, Materials, Industrial Solution, Surface Technologies, Nutrition & Care, and Agriculture Solution. BASF SE generated sales of around USD 69.8 billion in 2019. In September 2019, the surface treatment business unit of coating division of BASF SE expanded its production capacity in China in order to support growing demand across multiple segments.
Atotech Deutschland GmbH is one of the leading surface finishing provider, delivering chemistry, equipment, and service to support various end-use industries. The company operates through industrial construction, sanitary, white goods, mobile device, computers, automobile, automobile electronics, furniture, and communication infrastructure. Atotech Deutschland GmbH has registered over 2,200 active patents registered of which 1,800 are for chemical processes. Atotech operates in more than 40 countries and has 14 production sites for chemistry, and 2 for equipment.
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