The Global Metal Carboxylate Market is estimated to be valued at USD 5,921 Million by 2025 and is expected to register a CAGR of over 4.5% during the forecast period.
The widespread use of metal carboxylate as a curing agent or drier for high-solid coatings, water-borne coatings, solvent-borne coatings, and printing inks is a key factor expected to drive the market growth during the review period. Increasing awareness regarding health and various government regulations across the globe are projected to drive the demand for waterborne and high-solid coatings.
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The Global Metal Carboxylate Market has been segmented on the basis of type, application, and region.
On the basis of type, the global market has been divided into primary drier metals, through drier metal, and auxiliary drier metals. The primary direr metals include cobalt, manganese, iron, vanadium while the through drier metals include zirconium, lithium, strontium, and others. Similarly, auxiliary drier metals include calcium, zinc, and barium.
The primary drier segment accounted for 40% of the global market share in 2018; and is projected to witness significant demand during the upcoming years. This is attributed to the fact that it is required in all types of formulations.
The global market, by application, has been categorized into catalysts, lubricant additives, drier, plastic stabilizer, polyester accelerators, fuel additives, and others. The drier segment is projected to register a healthy CAGR of 5.5% during the forecast period on account of increasing application of metal carboxylate as a drier in various types of coatings. The widespread use of paints & coatings across the automotive, construction, marine, aerospace, and packaging industries is fueling the demand for metal carboxylate driers
Market Research Future (MRFR) recognizes ORGANOMETAL SA (Greece), DIC CORPORATION (Japan), Borchers Inc (US), NICHIA CORPORATION (Japan), Comar Chemicals (South Africa), EGE KİMYA (Turkey), Chemelyne Sppecialities (India), Umicore N.V. (Belgium), MATSUO SANGYO CO., LTD. (Japan), and The Shepherd Chemical Company (US) as the key players in the Global Metal Carboxylate Market.
The global metal carboxylate market, by region, has been segmented into Asia-Pacific, Latin America, North America, Europe, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the leading market for metal carboxylate in 2018 and is expected to follow the trend during the review period. The North American market accounted for more than 20% of the global market share in 2018 owing to the high demand for metal carboxylate in synthetic rubber production, which is further used in tire making and the healthcare industry.
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Key Findings of the Study:
- The Global Metal Carboxylate Market is projected to reach USD 5,921 Million by 2025 at a CAGR of over 4.5% during the review period of 2018 to 2025.
- Asia-Pacific accounted for the largest market share with China being the major contributor to the growth of the regional market. China is also expected to exhibit the highest CAGR during the review period.
- The key manufacturers are focusing on strategic growth initiatives such as expansion, mergers & acquisitions, alliances, joint ventures, and expansion to maintain the position and increase the geographic presence. Expansion was the most widely employed growth strategy amongst many market players in 2018 to capture maximum market share.