METAL FINISHING CHEMICALS MARKET – INDUSTRY OUTLOOK & KEY MARKET PLAYERS

New product launches, mergers, joint ventures, acquisitions, expansions, agreements, and collaborations are the key strategies adopted by industry players to achieve growth in the metal finishing chemicals market. Increasing industrial developments, technological advancements, and demand for metals with excellent physical properties such as high thermal stability, greater chemical resistance, and greater design flexibility have led to the high demand for metal finishing from various end-use industries, which in turn is leading to an increasing demand for metal finishing chemicals. Companies are therefore adopting strategies such as new product launches, expansions, mergers & acquisitions, and agreements. Some of the key players, such as Atotech Deutschland GmbH (Germany), Elementis plc (U.K.), Chemetall (Germany), Houghton International Inc. (U.S.), Platform Specialty Products Corporation (U.S.), and The Dow Chemical Company (U.S.) have adopted these strategies to develop their businesses, globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the metal finishing chemicals market between 2012 and 2016. 

Atotech Deutschland GmbH (Germany) is a leading player in the global metal finishing chemicals market. The company, as a major metal finishing chemicals manufacturer, aims to expand its market share and become one of the most innovative companies in the world. As a part of its growth strategy, in 2017, the company acquired the plating on plastics technology developed by Pegastech (France), which deals in specialty chemicals. This acquisition helped the company in promoting sustainable surface finishing technologies.

Advanced Chemical Company Inc. (U.S) is one of the largest metal finishing chemical manufacturers in the U.S. and one of the largest producers worldwide. As a part of its business strategy, the company focuses on new product development and research, and on the manufacture of superior quality products by employing the latest state-of-the-art technology and improving the efficiency of its operations. In 2016, the company introduced ContrAul - Gold Stripper II, which is designed to strip gold from base metal substrates and without affecting metals such as nickel, kovar, stainless steel, or steel.

Key companies, such as Atotech Deutschland GmbH (Germany), Chemetall (Germany), The Dow Chemical Company (U.S.), Elementis plc (U.K.), Platform Specialty Products Corporation (U.S.), Advanced Chemical Company (U.S.), Coral Chemical Company (U.S.), Houghton International, Inc. (U.S.), McGean-Rohco, Inc. (U.S.), and NOF Corporation (Japan) are the most active players in the global metal finishing chemicals market.

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ALUMINUM-EXTRUDED PRODUCTS MARKET - NEW REVENUE POCKETS

The market for aluminum-extruded products is segmented on the basis of products type into mill-finished, powder-coated, and anodized. The mill finished products segment is estimated to account for the largest share in the market for aluminum-extruded products in 2016, and this trend is projected to continue through the forecast period. Mill-finished aluminum-extruded products are highly preferred in the construction and automotive industries, because of their light-weight but highly durable properties. Increasing demand of sustainable aluminum-extruded materials in industries such as construction, automotive, and machinery & equipment; growing concern of greenhouse gas emission; and emerging economies around the world are the key drivers for the growth of the aluminum-extruded products market.

The aluminum-extruded products market is segmented on the basis of end-use industry into construction, automotive, mass transport, electrical & electronics, machinery & equipment, and others (energy, telecom, and consumer durables). The automotive segment accounted for the largest share, in terms of value, in 2015; it is also projected to grow at the highest CAGR during the forecast period. The key reasons behind the same are the increasing demand for light-weight cars, growing concern regarding greenhouse gas emissions from vehicles, and increasing trends in the automotive industry around the world.

The scope of the report also incorporates different alloy types that are being used to manufacture aluminum-extruded products. The different alloys that have been discussed in the report are 1000 series aluminum, 2000 series aluminum alloy, 3000 series aluminum alloy, 5000 series aluminum alloy, 6000 series aluminum alloy, and 7000 series aluminum alloy.

On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle-East & Africa. The Asia-Pacific market is projected to grow at the highest rate between 2016 and 2021. High growth potential in the emerging Asia-Pacific markets is expected to provide new growth opportunities to players in the aluminum-extruded products market. India is projected to be the fastest-growing market in this region. In terms of value, the region accounted for a maximum share of the overall aluminum-extruded products market in 2015. Rise in demand in industries such as construction and automotive, government initiatives to propel FDI opportunities, and focus on adopting latest technologies and processes to enhance business operations in a variety of industries in countries such as China, Japan, and India result in Asia-Pacific being the fastest-growing market for aluminum-extruded products.

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OVERVIEW OF THE FACTORS GOVERNING THE GLOBAL POLYETHER ETHER KETONE (PEEK) MARKET

The global Polyether Ether Ketone (PEEK) market is projected to reach USD 664.3 million by 2021, at a CAGR of 6.3% from 2016 to 2021. With its exceptional properties, including stiffness and strength at high temperatures, PEEK proves to be a tough contender to its substitutes or competitors in the high performance polymers family. It has been replacing several other polymers as well as traditional metals in a wide range of applications.

With the revolution in the manufacturing sector for the production of light weight products, the need for high performance polymers with exceptional weight reduction properties, such as PEEK, has increased significantly. This revolution for light weight products is expected to lead to the aerospace and automotive industries emerging as high end users of PEEK over the coming years.

From 2016 to 2021, electrical & electronics is projected to be the fastest growing end user segment in the PEEK market. This segment is expected to continue to lead in the coming years owing to the high demand from the Asia-Pacific region, Europe, and North America. Moreover, the increasing demand for electrical & electronics products from the emerging countries of the Asia-Pacific region is also boosting the growth of the PEEK market.

The Asia-Pacific region is projected to be the fastest-growing PEEK market from 2016 to 2021. The PEEK market is well established in Europe and North America, while in China, India, and other APAC countries, this market is projected to grow significantly from 2016 to 2021. The growth of the Asia-Pacific region is supplemented by the technological developments of the end user industries, growth of the transportation and electronics sectors, coupled with the growing medical/healthcare industry in emerging economies such as Indonesia, India, and China. The key players active in the PEEK market are focusing on the expansions strategy to strengthen their market penetration in the Asia-Pacific market.

On the basis of end users, the PEEK market has been categorized into electrical & electronics, aerospace, automotive, oil & gas, medical, and others. The others segment includes defense, building & construction, and food & beverage industries. The primary types of PEEK available in the marketplace are glass filled, carbon filled, and unfilled. The glass filled segment is projected to be the fastest-growing type segment from 2016 to 2021, owing to the high demand from the electrical & electronics industry.

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TRANSPARENT CONDUCTIVE FILMS MARKET - NEW REVENUE POCKETS

The transparent conductive films market is expected to reach USD 8.46 billion by 2026, at a CAGR of 9.4% from 2016 to 2026. Growth in this market can be attributed to the increasing demand for transparent conductive films for smartphones, tablets, LCDs, notebooks, and wearable devices, among others. Transparent conductive films, owing to their excellent properties such as high conductivity, low resistance, and high transparency are widely used in various electronic components.

Based on application, the transparent conductive films market has been segmented into smartphones, tablets, LCDs, notebooks, wearable devices, and others, which includes desktop PC and monitors.  The LCDs segment is expected to grow at the highest rate during the forecast period. This growth can be attributed to the significant demand for large screen display units from Asia-Pacific and Europe regions, and use of transparent conductive films in smartphones, notebooks, and wearable devices.

The Asia-Pacific transparent conductive films market is expected to grow at the highest CAGR between 2016 and 2026. The transparent conductive films market in the Asia-Pacific region has been studied for China, Japan, and India. The market in the region is witnessing increased consumption of transparent conductive films for use in smartphones, notebooks, and LCDs. A transparent conductive film is used as a thin film in different applications such as smartphones and tablets. Increasing investments in the production of flat panel display units have led to rise in demand for LCDs. In wearable devices, transparent conductive films are used in smartwatches. Shifting of trends and health awareness are the main reasons for rise in use of wearable devices.

Key manufacturers in the transparent conductive films market have their production units mainly in APAC, and sales offices in Europe, South America, and North America. The U.S. is the largest market for transparent conductive films in the North America region. Moreover, the transparent conductive films market in the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for transparent conductive films for various applications such as smartphones, tablets, and LCDs in this region. Major manufacturers and suppliers of transparent conductive films are expanding their capacities to reduce the turnaround time and enhance efficiency of product development.

Major market players covered in the report are Teijin Ltd (Japan), Toyobo Co., Ltd (Japan), Nitto Denko Corporation (Japan), TDK Corporation (Japan ), Canatu Oy (Finland), Cambrios Technologies Corporation (U.S.), C3Nano (U.S.), Gunze (Japan), Dontech Inc. (U.S.), and Blue Nano Inc. (U.S.).

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Macroeconomic Overview of Polyurethane Foam Market by 2023

The polyurethane foam market is estimated to be USD 54.19 billion in 2018 and is projected to reach USD 79.77 billion by 2023, at a CAGR of 8.0% from 2018 to 2023. Polyurethane foam is a widely used polymer and plastic. It is composed of a chain of organic units joined by urethane links. Polyurethane foam is commonly formed by reacting a di- or polyisocyanate with a polyol and is available in flexible, rigid, and spray forms.

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The growth of the polyurethane foam market is primarily driven by the rising demand for polyurethane foam from the building & construction industry. Polyurethane foam is also used in the bedding & furniture, electronics, automotive, and packaging industries. However, polyurethane foam is expensive due to the fluctuating raw material prices, which act as a major restraint for the market.

BASF SE (Germany), Covestro (Germany), The Dow Chemical Company (US), and Huntsman Corporation (US) are key players operating in the polyurethane foam market. These companies are focused on broadening their product portfolios to compete with other players and expanding their customer base.

BASF is a leading supplier of polyurethane solutions for systems, specialties, and PU basic products. The company has a global network of 39 polyurethane system houses with a comprehensive product and service portfolio. BASF provides immediate local support for technical services as well as sales, production, and marketing support during the development of customized solutions. Over the years, BASF has secured its market position as a leading producer of polyurethane products.

In January 2018, BASF established a new MDI synthesis unit in Geismar, Louisiana. MDI is a basic raw material for polyurethanes. The annual capacity of MDI will increase from 300,000 metric tons to 600,000 metric tons. In November 2017, BASF expanded its manufacturing capacity of Cellasto and ceased thermoplastic polyurethane manufacturing at its Dahej plant in Gujarat. This expansion strategy enabled the company to cater to the automotive market for both, 2 wheeler and 4 wheeler vehicles in India.

Covestro is one of the leading manufacturers of premium polymers. The company is engaged in various business activities that focus mainly on the manufacture of high-tech polymer materials and the development of innovative solutions. It has adopted key growth strategies, such as expansions and new product launches to strengthen its foothold in the polyurethane foam market. In December 2017, Covestro invested approximately USD 220 million to expand its operations at the Tarragona site by 2020. This expansion strategy enabled the company to increase its MDI production capacity from 50,000 metric tons to 220,000 metric tons per year. In June 2016, Covestro introduced a new product, Bayseal CCX closed-cell Spray Polyurethane Foam (SPF) insulation. It is an ideal insulation material for residential and commercial projects.

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Specialty Oilfield Chemicals: Market Leader & New Revenue Pockets

The specialty oilfield chemicals market is expected to grow from USD 11.36 billion in 2018 to USD 13.88 billion by 2023, at a CAGR of 4.1% between 2018 and 2023. Expansions, acquisitions, and new product launches are the key strategies adopted by the major players to strengthen their position in the specialty oilfield chemicals market. The North American and European regions witnessed the maximum number of strategic developments undertaken by various players between 2013 and 2017.

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The key players operating in the specialty oilfield chemicals market are BASF (Germany), Ecolab (US), Clariant (US), DowDuPont (US), Solvay (Belgium), Schlumberger (US), AkzoNobel (Netherlands), Halliburton (US), and Baker Hughes (US), among others.

BASF (Germany) is one of the leading manufacturers of specialty oilfield chemicals. The company offers products, which are used for the construction of oil wells and chemicals for the continuous and cost-effective production of oil & gas from these wells. The company has a strong presence in major regions, which helps it to enhance its penetration in the specialty oilfield chemicals market across the globe. In September 2015, the company launched a series of new chemical technologies for the upstream oil & gas industry. The company launched high-temperature performance enzymes, H2S scavengers, corrosion inhibitors, fluid loss additives, and enhanced oil recovery chemicals, which enabled it to establish a strong foothold in the specialty oilfield chemicals market.

Ecolab (US), and Clariant (US) are other major players in the specialty oilfield chemicals market. Nalco Champion, which operates under Ecolab, is a leading provider of high-performance chemicals for the oil & gas industry. Nalco Champion is known to be the fastest-growing specialty oilfield chemicals company in the world. It offers innovative and environmentally acceptable solutions to the oil & gas industry, thereby giving its parent company, Ecolab a strong growth opportunity in the specialty oilfield chemicals market. The company’s strong capability of providing on-site, technological solutions to the upstream and downstream market makes it a top player in the specialty oilfield chemicals market. In November 2016, Ecolab launched five unique chemistries to achieve production sustainability, reduce lease operating expenses, increase operational efficiency, and eliminate CAPEX.

Clariant (US) extensively focuses on the development of chemicals for varied applications in the upstream oil & gas industry. The company undertook several acquisitions and launched numerous new products to strengthen its position in the specialty oilfield chemicals market. The company has manufacturing capabilities spread across the world and operates in Europe, North America, Asia Pacific, and the Middle East & Africa. In September 2016, Clariant acquired Kel-Tech Inc. (US) and X-Chem LLC (US) to aid its oil & mining services, thereby becoming one of the leading oilfield chemicals providers in the North American region. This acquisition helped the company to gain a substantial share in the specialty oilfield chemicals market.

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SODIUM SILICATE MARKET - GLOBAL FORECAST TO 2022

The sodium silicate market size is projected to reach USD 11.03 billion by 2022, at a CAGR of 4.4% between 2017 and 2022. Sodium silicate is a versatile inorganic chemical. It is produced as a white crystalline powder or in the form of lumps that are soluble in water. It is manufactured by melting sand/silicon dioxide (SiO2) and soda ash/sodium carbonate (Na2CO3) at a temperature above 1800 °F in a closed end furnace. Caustic soda/sodium hydroxide is used instead of sodium carbonate for the direct production of liquid sodium silicate. Sodium silicate is a non-toxic, non-flammable, and non-explosive chemical. It is a strong alkaline chemical having high pH ranging from 10 to 13. Its alkaline nature makes it preferable for various applications such as detergents, precipitated silica, construction, pulp & paper, textiles, paints, foundry, and water treatment. The increasing use of sodium silicate in various applications, such as detergents, precipitated silica, and pulp & paper, is expected to drive the market.

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Expansions, acquisitions, and mergers were the key strategies adopted by the major players to achieve growth in the global sodium silicate market between 2015 and 2018. The major players in the sodium silicate market are PQ Corporation (US), Occidental Petroleum Corporation (US), Tokuyama Corporation (Japan), Nippon Chemical Industrial (Japan), BASF (Germany), Kiran Global Chem Limited (India), Sinchem Silica Gel (China), Shijiazhuang Shuanglian Chemical Industry (China), IQE Group (Spain), and CIECH (Poland).

Nippon Chemical Industrial used expansions as its major strategy to increase its presence in the Southeast Asian market. In August 2017, Nippon Chemical Industrial established a new company JCI in Thailand through a joint venture with local capital. With this expansion, the company aims to expand its business in Southeast Asia, majorly in Thailand.

Tokuyama Corporation used mergers as its major strategy to strengthen its sodium silicate business. In February 2017, Tokuyama Corporation made an absorption-type merger (simplified merger) with its wholly-owned subsidiary Tokuyama Siltech (Japan). The company expects to increase the business of sodium silicate with this merger.

IQE Group used acquisition as its major strategy to increase its sodium silicate production capacity. In November 2015, IQE Group acquired the silicate division of PeroxyChem (US) that includes the silicate production line located at the La Zaida plant and the Zamudio factory in Spain. With this acquisition, the company has increased its production capacity and reduced its competition in Spain.

Asia Pacific is estimated to be the largest market for sodium silicate. China is estimated to be the leading market for sodium silicate in Asia Pacific. India, Japan, and South Korea are the other major countries contributing to the growth of the sodium silicate market in the region. The increasing demand for sodium silicate from applications such as detergents and construction is expected to drive the sodium silicate market in these countries.

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