The global metal cleaning chemicals market will grow to USD 18.2 billion by 2027, at a CAGR of 5.1% from USD 14.1 billion in 2022. Metal cleaning chemicals market is mainly driven by the growing preference for aqueous-based metal cleaning, need for metal precision cleaning, and rising need for industrial cleaning & maintenance are the major factors driving the metal cleaning chemicals market. The major restraints of this market are the toxicity and health issues caused by a few of these chemicals and the impact of these chemicals on the environment.
BASF SE (Germany), Evonik Industries AG (Germany), Eastman Chemical Company (US), Quaker Chemical Corporation (US), Stepan Company (US), The Chemours Company (US), and The Dow Chemical Company (US), among others are the major players in this market.
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BASF SE engages in the production and sales of a wide range of chemicals and intermediate solutions. The company operates its business through seven segments, namely, chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. The company provides metal cleaners through its surface technologies segment, which operates through two divisions- Catalysts and Coatings. The company acquired Albemarle's global surface treatment business, Chemetall, in 2016.
Stepan Company is a global producer of specialty and intermediate chemicals, which are sold to other manufacturers and used in various end products. The company's stocks are listed on New York Stock Exchange (NYSE). Metal cleaning chemicals form part of the surfactants business, which represent the major share of the company's revenues. Stepan Company has 10 subsidiaries worldwide in North America, Europe, South America, and Asia Pacific.
Metal Cleaning Chemicals Market by Cleaner Type (Aqueous, Solvent), Metal Type (Steel, Aluminum, Cooper), Ingredient (Surfactants, Chelating Agent, Solvent), End-use Industry (Manufacturing, Automotive & Aerospace, Healthcare), & Region - Global Forecast to 2027
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