Aqueous-based Metal Cleaners Market worth $14.6 billion by 2027 Globally, at a CAGR of 5.4%, says MarketsandMarkets™
Chicago, Sept. 13, 2023 (GLOBE NEWSWIRE) — The Global Aqueous-based Metal Cleaners Market will grow to USD 14.6 billion by 2027, at a CAGR of 5.4% from USD 11.2 billion in 2022, as per the recent study by MarketsandMarkets™. The introduction of aqueous (water) based technology has offered cost-effective and environmentally friendly means for cleaning and degreasing metal parts and components. Green alternatives help to protect the environment, improve workplace safety, and reduce industrial waste and operating costs.
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327 – Market Data Tables
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List of Key Players in Aqueous-based Metal Cleaners Market:
- BASF SE (Germany)
- Dow Inc. (US)
- Stepan Company (US)
- Evonik Industries AG (Germany)
- Eastman Chemical Company (US)
- Nouryon (Netherlands)
- Clariant AG (Switzerland)
- The Chemours Company (US)
- Indorama Ventures Public Company Limited (Thailand)
- Ashland Global Holdings Inc. (US)
Drivers, Opportunities and Challenges in Aqueous-based Metal Cleaners Market:
- Drivers: Rapidly growing automotive and manufacturing industries
- Restraint: Factors pertaining to environmental responsibility
- Opportunity: Green and biobased alternatives to traditional metal cleaners
Key Findings of the Study:
- Rinse technology is the second-largest aqueous-based metal cleaner technology during the forecast period
- Alkaline is projected to be the fastest-growing chemistry type of the aqueous-based metal cleaners market during the forecast period
- Builders is the second-largest aqueous-based metal cleaner by cleaning chemicals during the forecast period
- Healthcare is projected to be the fastest-growing end-use industry during the forecast period
- South America is projected to be the second fastest-growing market -during the forecast period
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On the basis of technology, the aqueous-based metal cleaners’ market is segmented into ultrasonic, rinse, dip, and spray. Ultrasonic technology dominated the aqueous-based metal cleaners market. Ultrasonic cleaning technology is effective in cleaning small and intricate components. It is the best option when high cleanliness levels are needed, majorly in the healthcare industry. Government regulations are one of the major factors driving the demand for aqueous-based metal cleaning chemicals.
On the basis of chemistry type, the aqueous-based metal cleaners’ market is segmented into alkaline, acidic, and neutral. Ultrasonic technology dominated the aqueous-based metal cleaners market. Ultrasonic cleaning technology is effective in cleaning small and intricate components. It is the best option when high levels of cleanliness are needed, majorly in the healthcare industry. Government regulations are one of the major factors driving the demand for aqueous-based metal cleaning chemicals.
On the basis of cleaning chemicals, the aqueous-based metal cleaners’ market is segmented into builders, sequestrants and inhibitors, surfactants, and others. The surfactants segment is estimated to be the largest cleaning chemical in the overall aqueous-based metal cleaners market during the forecast period. Surfactants, or surface-active agents, are chemicals that tend to change the properties of water by lowering the surface tension of water. Surfactants help the cleaning solution wet a surface more quickly and enable the contaminants to be readily loosened and removed (usually with mechanical action). The high performance of surfactants drives the market for this segment.
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On the basis of end-use industries, the aqueous-based metal cleaners’ market is segmented into manufacturing, automotive & aerospace, healthcare, and others. The manufacturing segment is expected to account for the largest share, in terms of both value and volume, of the market during the forecast period. Aqueous-based metal cleaners help maintain cleanliness in the working environment in the manufacturing industry. The growing automotive industry in developing countries is also fueling the aqueous-based metal cleaners market.
Asia Pacific was the largest aqueous-based metal cleaners market in 2021 in terms of value, followed by North America and Europe. The enormous industrial growth in Asia Pacific has been fueling the aqueous-based metal cleaners market for the past few years, and this is expected to continue over the next five years. Domestic and foreign investments in critical sectors, such as energy, manufacturing, and construction, have consistently grown over the past decade. These factors are expected to drive the aqueous-based metal cleaners market between 2022 and 2027.
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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: firstname.lastname@example.org
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