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LONDON, May 18, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the metal cleaning chemicals market forecast the market to grow at a compound annual growth rate (CAGR) of more than 5% from $16.16 billion in 2022 to $17.04 billion in 2023. Further, the metal cleaning chemicals market is expected to grow to $20.6 billion by 2027 at a CAGR of more than 4%, driven by increasing demand for metals. Asia-Pacific was the largest region in the metal cleaning chemicals market in 2022.

Metal Cleaning Chemicals are used in metal manufacturing processes to clean and protect surfaces from rust and corrosion. The World Bank reported a nearly 4% increase in global metal demand in Q3 of 2021, and the manufacturing PMI increased to 54.3 in October, indicating an upward trend in metal demand. Additionally, steel demand in India is projected to rise by approximately 10% in 2022.

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Major metal cleaning chemical companies include Air Products and Chemicals Inc., Dow Dupont Inc., and BASF SE, among others. These companies are investing in technology advancement to develop new products and strengthen their market position.

In November 2021, One Rock Capital Partners LLC acquired Eastman Chemical Company, a US-based manufacturer of specialty chemicals for metal cleaning, among other purposes, to expand its offerings to customers.

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The global metal cleaning chemicals market is segmented as-

1) By Ingredients: Chelating Agent, Surfactant, Solvents, Solubilizers pH Regulators, Other Ingredients

2) By Cleaner: Aqueous, Solvents

3) By Applications: Steel, Aluminum, Copper Alloys, Brass, Other Applications

4) By End-Use Industry: Automotive and Aerospace, Manufacturing, Healthcare, Other End-Use Industries.

This metal cleaning chemicals market report provides an in-depth analysis of the global metal cleaning chemicals market and its growth prospects. The report covers various factors driving the market growth, including the increasing demand for metals and technological advancements in the industry.

Metal Cleaning Chemicals Global Market Report 2023 by The Business Research Company provides insights on the metal cleaning chemicals market size, metal cleaning chemicals market segments, metal cleaning chemicals market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 4,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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