Asia-Pacific Foundry Chemicals Market, By Type (Benzene, Formaldehyde, Naphthalene, Phenol, Xylene and Others), Product Type (Binders, Additive Agents, Coatings, Fluxes and Others), Foundry Type (Ferrous and Non-Ferrous), Foundry Tool Type (Showel, Trowels, Lifter, Hand Riddle, Vent Wire, Rammers, Swab, Sprue Pins and Cutters and Others), Foundry Process Type (Thermal galvanization and Electro Less Nickel Plating), Foundry System Type (Sand Cast Systems and Chemically Bonded Sand Cast Systems), Application (Cast Iron, Steel, Aluminium and Others), Distribution Channel (E-Commerce, Specialty Stores, B2B/Third Party Distributors and Others), Country (Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Market Analysis and Insights: Asia-Pacific Foundry Chemicals Market
The foundry chemicals market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing at a CAGR of 5.1% in the forecast period of 2021 to 2028 and is expected to reach USD 1,200.43 million by 2028. The increasing demand for metal casting in the automotive market is acting as a driver for the foundry chemicals market in the forecast period.
A foundry is defined as an industry that produces metal castings from metals, foundry chemicals are the chemical components that mediate this transition process. The metals and alloys utilized in foundry are classified into two segments namely ferrous or non-ferrous depending whether they have the presence of iron in them or not. These metals and alloys are melted into a liquid form with the help of foundry equipment that operates at extremely high temperature.
The growing demand for metal casting in the manufacturing of heavy machinery is boosting the foundry chemicals market growth. Corrodibility of ferrous metals under environmental conditions is hampering the demand for the foundry chemicals market. Increasing demand for steel in the market is acting as an opportunity for the foundry chemicals market. The stringent environmental regulation regarding chemicals released from foundries is acting as a challenge for hampering the demand of the foundry chemicals market.
This foundry chemicals market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the foundry chemicals market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Foundry Chemicals Market Scope and Market Size
The foundry chemicals market is segmented into eight notable segments which are based on the type, product type, foundry type, foundry tool type, foundry process type, foundry system type, distribution channel and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the foundry chemicals market is segmented into benzene, formaldehyde, naphthalene, phenol, xylene and others. In 2021, benzene segment is dominating in the foundry chemicals market because benzene based foundry chemicals are widely used in various types of applications.
- On the basis of product type, the foundry chemicals market is segmented into binders, additive agents, coatings, fluxes and others. In 2021, binders segment is dominating in the foundry chemicals market because binders based foundry chemicals are providing huge amount of core strength due to which it is highly demanded among the end users which helps to boost its demand in the forecast year.
- On the basis of foundry type, the foundry chemicals market is segmented into ferrous and non-ferrous. In 2021, ferrous segment is dominating in the foundry chemicals market because foundry chemicals are widely used in ferrous metal castings due to its high property which helps to boost its demand in the forecast year.
- On the basis of foundry tool type, the foundry chemicals market is segmented into showel, trowels, lifter, hand riddle, vent wire, rammers, swab, sprue pins and cutters and others. In 2021, showel segment is dominating in the foundry chemicals market because showel based foundry tool type consists of a square metal pan fitted with a wooden handle due to which it is highly used in wide applications which helps to boost its demand in the forecast year.
- On the basis of foundry process type, the foundry chemicals market is segmented into thermal galvanization and electro less nickel plating. In 2021, thermal galvanization segment is dominating in the foundry chemicals market because thermal galvanization is the appropriate process type in foundry chemicals due to which it is highly adopted among the end users which helps to boost its demand in the forecast year.
- On the basis of foundry system type, the foundry chemicals market is segmented into sand cast systems and chemically bonded sand cast systems. In 2021, chemically bonded sand cast systems segment is dominating in the foundry chemicals market because chemically bonded sand cast systems are mold / core strength based foundry system type, also it is re-used based bonded sand which helps to boost its demand in the forecast year.
- On the basis of application, the foundry chemicals market is segmented into cast iron, steel, aluminium and others. In 2021, cast iron segment is dominating in the foundry chemicals market because foundry chemicals are widely used in cast iron application due to its high property which helps to boost its demand in the forecast year.
- On the basis of distribution channel, the foundry chemicals market is segmented into e-commerce, specialty stores, B2B/third party distributors and others. In 2021, B2B/third party distributors segment is dominating in the foundry chemicals market because B2B/third party distributors based distribution channel are widely used in order to commercialization of foundry chemicals in the market which helps to boost its demand in the forecast year.
Asia-Pacific Foundry Chemicals Market Country Level Analysis
Asia-Pacific foundry chemicals market is analysed and market size information is provided by the country, type, product type, foundry type, foundry tool type, foundry process type, foundry system type, distribution channel and application as referenced above.
The countries covered in Asia-Pacific foundry chemicals market report are the Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines and rest of Asia-Pacific.
China is dominating in the Asia-Pacific foundry chemicals market due to the enormous population that creates a large demand for steel in building and automotive industry.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growths in the Foundry Chemicals Industry
The foundry chemicals market also provides you with detailed market analysis for every country growth in installed base of different kind of products for foundry chemicals market, impact of technology using life line curves and changes in infant formula regulatory scenarios and their impact on the foundry chemicals market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Foundry Chemicals Market Share Analysis
The foundry chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific foundry chemicals market.
The major players covered in the Asia-Pacific foundry chemicals market report are Vesuvius, ASK Chemicals (a subsidiary of Ashland), Imerys, Shandong Crownchem Industries Co., Ltd, Saint-Gobain Performance Ceramics & Refractories (PCR) (a division of Saint-Gobain), Compax Industrial Systems Pvt. Ltd, CS ADDITIVE GMBH, CAGroup (a subsidiary of AMC Group), Georgia-Pacific Chemicals, Ultraseal India Pvt. Ltd., Hüttenes-Albertus, CERAFLUX INDIA PVT.LTD., Forace Polymers (P) Ltd., Scottish Chemical, DuPont among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many expansions are also initiated by the companies worldwide which are also accelerating the growth of the foundry chemicals market.
For instance,
- In January 2021, ASK Chemicals (a subsidiary of Ashland) had introduced the new polyurethane binder system for self-curing which is environmentally friendly in nature which resulted in good casting results and high productivity. The update helps the company to increase the goodwill of the company which enhance sales in future.
Collaboration, joint ventures and other strategies by the market players is enhancing the company footprints in the foundry chemicals market which also provides the benefit for organisation in its growth pace.
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