Global Metal Modifiers Market Introduction
Metal modifiers are the type of surface modifiers added in other ingredients to modify surface properties of metals. Metal surface modifiers are generally used in manufacturing metal protective coatings. Metal modifiers enhances the metal surface properties such as corrosion resistance, abrasion resistance, lubrication and antifriction amongst others. Metal modifier also enhance adhesion between two surfaces. These are types of silanes having two functional groups, which helps in binding the two surfaces. Metal modifiers also improve lubricating properties of various metal parts in machines and automotive engines. Metal modifiers are used in various end use industries including automotive, aerospace, manufacturing and other industries. Increasing investment on the metal protection is pushing the use of metal modifiers in various industrial applications. Metal modifiers modifies the surface properties of the metals and indirectly increases shelf life of the metal part which saves the maintenance cost and time. Wide range of materials are being used as metal modifiers which has different functions including corrosion resistance, abrasion resistance, slip resistance, friction resistance, and others.
Market Dynamics of Metal modifiers Market
Rise in focus on quality improvement and increasing industrial standards is pushing use of metal modifiers
High growth in end use industry of the metal modifiers is expected to drive the market growth in an upward trend. Increasing focus on cost saving and quality improvement is also pushing the demand for metal modifiers from various applications. Corrosion costs a significant amount for the companies, not only in terms of money but also in terms of time. To save maintenance cost and downtime in the plants manufacturers various equipment users and machine manufacturers are preferring the use of metal modifiers for improving the properties of metals and protect them from the early break down or underperformance. Increasing standards by the environmental agencies and industrial associations for quality maintenance, is also driving the use of metal modifiers.
Increasing competition amongst the global players is a challenging factor for the market growth
Metal modifiers market is considered to be a fragmented type of market with few large scale/ tier-1 players and large concentration of small and medium players. Price competition in the market is affecting the growth of the market in terms of value, however the market in terms of volume is expected to grow at a high growth rate.
Research and development has been observed in the center of the all the growth strategies in the metal modifiers market
Product differentiation through research and development is the major growth strategy amongst the large players in the market. Along with this, players in the metal modifiers markets are forming joint ventures for the increasing their geographical reach and to sustain in the intensive competition in the market.
Global Metal Modifiers Market Segmentation
On the basis of types, the global metal modifiers market can be segmented as:
On the basis of application, the global metal modifiers market can be segmented as:
On the basis of end use industry, the global metal modifiers market can be segmented as:
Metal Modifiers Market: Regional Outlook
Large industrial infrastructure in the Asian region, makes it a leading regional market of metal modifiers. Owing to high growth of end use industries in this region. Asia Pacific Automotive market in particular is gaining significant traction for consumption of metal modifiers in the last few years, which is pushing the metal modifiers market at a significant rate. North America follows Asia Pacific, in terms of total demand for metal modifiers. Large industrial base significant industry growth and increasing standards in the industrial manufacturing, are some of the drivers for metal modifiers, in North America. Large automotive industry in Europe, makes it contribute a significant share in the global metal modifiers market. Stringent regulations in the European region and high focus on the sustainable practices by the industrial players in the European region is expected to push the metal modifiers market in this region. Latin America and Middle East & Africa collectively account for very small share compared to other regions, however high growth is expected in the metal modifiers market in Middle East & Africa.
Global Metal Modifiers Market Participants
Some of the market participants identified across the value chain of global metal modifiers market are:
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