The global metal cleaning chemical market size is projected to reach USD 16.5 billion by 2025 from USD 12.9 billion in 2020, growing at a CAGR of 5.0%, in terms of value during the forecast period. The anticipated growth in emerging economies post COVID-19 are expected to help the metal cleaning chemical demand growth. The demand for metal cleaning chemicals in countries such as China, India, Japan, and South Korea from various end-use industries is expected to fuel the growth of metal cleaning chemicals market in the region.
The metal cleaning chemicals market is evolving, with major players playing a crucial role in the development of new and advanced products. BASF SE (Germany), Evonik Industries AG (Germany), Stepan Company (US), Eastman Chemical Company (US), The Chemours Company (US), The Dow Chemical Company (US), Quaker Houghton (US), Nouryon (Netherland), 3M Company (US), Element Solutions (US), among othersare the major players in this market.
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Evonik Industries (US) is focused on expansions and acquisitions to meet the growing demand in the metal cleaning chemicals market. In April 2020, Evonik doubled its production capacity for its high-performance polyamide Trogamid CX at a facility in Marl, Germany. The expansion will help cater to customers from various sectors such as water management, filter technology, laboratory and medical engineering, and production of containers for the cosmetics industry. In February 2020, Evonik completed its acquisition of US-based chemical manufacturing firm PeroxyChem. The acquisition will create more opportunities in the market for environmentally-friendly disinfectants. In September 2019, Siemens is set to build an industrial power plant for Evonik in Germany. The power plant is expected to contain two units of 90 MW to produce electricity and to process steam for the chemical park.
Stepan Company (US) is focused on acquisition to meet the growing demand for metal cleaning chemicals. In March 2020, Stepan Company completed the acquisition of NatSurFact® Business, a rhamnolipid-based line of bio-surfactants derived from renewable sources from Logos Technologies. In March 2018, Stepan Company completed the acquisition of a surfactant production facility and part of the surfactant business from BASF in Mexico. The facility has 50,000 metric tons of capacity, 124,000 square feet of warehouse space, a large laboratory, and office space.
BASF SE (Germany) is focused on expansion to meet the growing demand for metal cleaning chemical market. In November 2019, A new laboratory and an office building were completed as part of its expansion process in Langelsheim, Germany. The site will focus on the development and production of aerospace technologies. In September 2019, The company started construction of its surface treatment site in the Dushan Port Economic Development Zone of Pinghu, Zhejiang province, China. The site will have production, administrative offices, a laboratory, and a warehouse. In January 2019, Chemetall came into a conclusive agreement with Polymer Ventures to acquire its automotive paint detackification business and shares of Galaxy Chemical Corporation.
The Chemours Company (US) focuses on expansions and acquisition to strengthen its market position in the global metal cleaning chemical market. In March 2020, The company inaugurated its new world-class innovation center, named The Chemours Discovery Hub at the University of Delaware's Science, Technology and Advanced Research (STAR) Campus, US. In August 2019, Chemours acquired Southern Ionics Minerals, which is involved in the business of mining and mineral exploration. Southern Ionics Minerals is a subsidiary of Southern Ionics Incorporated, a private chemical manufacturing company from West Point, Mississippi.
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