A new report by FMI titled ‘Rust Remover Market: Global Industry Analysis 2012-2021 and Opportunity Assessment 2022-2032′ studies the various factors impacting revenue growth of the global rust remover market over a period of 10 years from 2022 to 2032 and presents both historical market size and volume as well as the current market forecast. The historical trend suggests that the global rust remover market is projected to grow owing to the increasing demand for corrosion removal, metal cleaning, and surface pre-treatment chemicals.
The period from 2012 to 2021 indicates actual market trends while forecast trends have been indicated for the years between 2022 and 2032.
The global rust remover market is estimated to be worth US$ 509.2 Mn in 2022 and this is expected to increase to US$ 775.8 Mn by the end of 2032, registering a CAGR of 4.3% in terms of value during the forecast period (2022 – 2032).
Global Rust Remover Market: Dynamics
The use of efficient alternatives of rust removal over conventional methods is boosting revenue growth of the rust remover market. An increasing number of renovation and restructuring activities, significant growth in the number of oil rigs across the globe, and rapid growth of end use industries such as automotive and construction is anticipated to act in favour of the global rust remover market growth.
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However, use of materials such as composites and fibres in several end use industries to improve corrosion resistance and an increasing penetration of laser and ultrasonic technologies for rust removal are likely to restrain market revenue growth over the forecast period.
The global market for rust removers is witnessing a steadily growing demand for bio based product offerings and manufacturers of rust removal products are engaging in structured product innovation to cement their place in the global market.
Global Rust Remover Market: Forecast by Product Type
• The global rust remover market is segmented by product type into Acid Rust Removers, Neutral Rust Removers, and Alkaline Rust Removers.
• Acid Rust Removers is the largest segment with an estimated market share of more than 60% throughout the forecast period
• Neutral Rust Removers segment is projected to become 1.7x of its current value by the end of the period of assessment
Global Rust Remover Market: Forecast by End Use Industry
• The global rust remover market is segmented on the basis of end use industry into Automotive, Aviation and Aerospace, Oil and Gas/Petrochemical, Marine, Construction & Infrastructure, Metal Machining, and Others.
• Construction & Infrastructure is the largest segment in terms of value, expected to reach a market valuation of US$ 112.5 Mn by the end of 2027
• Oil and Gas/Petrochemical is anticipated to remain a lucrative segment over the forecast period
Global Rust Remover Market: Key Players
Some of the key players profiled in the global rust remover market include Henkel AG & Co. KGaA, Quaker Chemical Corporation, PPG Industries, Inc., Fuchs Petrolub SE: FUCHS Group, Akzo Nobel N.V., The Sherwin-Williams Company, Harris International Laboratories, Inc., ZERUST EXCOR, Chempace Corporation, American Building Restoration Products, Inc., Jelmar LLC, and Corrosion Technologies, LLC.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
1. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
1. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
1. Key Success Factors
To be continued…!
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