NEWARK, Del, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global rust remover market is set to exhibit opulent growth opportunities by exhibiting a CAGR of 4.3% from 2022 to 2032. The global market is set to reach a valuation of US$ 509.2 Mn in 2022 and is anticipated to touch a valuation of US$ 775.8 Mn by the end of 2032. A significant increase in the demand for rust removers from several end0use industries is expected to bolster growth in the rust remover market across the globe.
The global rust remover market is anticipated to generate a CAGR of 3.9% over the historic period ranging from 2012 to 2021. According to the current estimations done by Future Market Insights, the market for rust removers is projected to grow at a CAGR of 4.3% during the forecast period of 2022 and 2032.
The ever-increasing renovation & reconstruction activities combined with increasing local & foreign investments in emerging economies such as China, India, Australia, and Brazil in the construction sector are fueling the demand for rust removers. The expansion of the automotive industry in the Asia Pacific along with the growth of the oil & gas industry especially in North America is excelling due to the manufacturing of shale gas by hydraulic fracturing and horizontal drilling are further expected to create significant opportunities in the rust remover market.
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Key Takeaways
- Physical rust removal methods require much more effort & time and are also considered less efficient when compared to the use of chemicals. In several cases, the finishing of the base metal also deteriorates with the use of physical methods. As a result, rust-removing chemicals have been prominently used as effective alternatives to physical rust removal methods. Rust remover chemicals are relatively more efficient and deliver the best results in both performance and cost, than conventional methods due to which their demand is expected to propel over the forecast period.
- The growth of rust removers in the assessment period is expected to spur due to continuous industrial expansion and improving regional infrastructure. A comprehensive investment is witnessed in both public and private sectors in construction projects such as roads, railways, dams, shopping complexes, tech parks, airports, and houses. In addition to that, surging government funding and budget allocation for the maintenance of infrastructure and various other public utilities, renovation, and restructuring activities, especially in developed countries such as the U.S., Germany, and Italy, are also anticipated to drive the rust remover market.
- Robust growth in various end-use industries has been witnessed, especially in automotive is anticipated to create high demand for rust removers. Rust removers will be primarily used in the automotive industry for metal surface cleaning and pretreatment before metal stamping and die casting for the manufacturing of automotive components.
- The aerospace industry is anticipated to grow significantly due to which maintenance activities of existing fleets have also increased which led to the surging use of rust removers for aerospace parts cleaning such as jet engines, body frames, and other parts. Thus, these aforementioned factors are set to drive the demand for rust removers across the globe.
- A significant rise in the number of construction activities is witnessed especially in emerging countries such as China, India, Brazil, and GCC countries are also estimated to drive the demand for rust removers for both new construction and repair & maintenance of the existing infrastructure. An increasing number of residential projects in these countries paired with rising investments in commercial infrastructures such as offices, hospitals, shopping complexes, hotels & restaurants, and educational infrastructure have been contributing to the expansion of cities and urban suburbs. Thus, the construction sector is a major consumer of rust removers.
Competitive Landscape
Prominent players in the rust remover market are focusing on the acquisition of several other key players in order to expand their consumer base. In addition to that, their expansion strategies incorporate capacity and geographical expansions in emerging economies to bolster their hold on the global market. Some of the other key players are also investing in research and innovations for product development. A few others are introducing numerous sustainable products to minimize carbon footprint.
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More Insights into the Rust Remover Market
India is predicted to remain one of the fastest growing countries in the global rust remover market. The country is anticipated to witness a robust CAGR of 6.3% over the estimation period. In emerging economies like India, a significant development in the construction and infrastructure sector has been witnessed along with growing industrialization influencing the Indian rust remover market. Rapidly increasing sales and production of automobiles are also expanding the country’s market size.
Rust Remover Market Outlook by Category
By Product Type:
- Acid Rust Removers
- Neutral Rust Removers
- Alkaline Rust Removers
By End-Use Industry:
- Automotive
- Aviation and Aerospace
- Oil and Gas/Petrochemical
- Marine
- Construction & Infrastructure
- Metal Machining
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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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
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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