NEWARK, Del., Sept. 21, 2022 (GLOBE NEWSWIRE) — The global rust remover market is expected to offer opulent growth opportunities by registering a CAGR of 4.3% from 2022 to 2032. The global market is expected to reach a valuation of US$509.2 million in 2022 and is expected to reach a valuation of US$775.8 million by the end of 2032. A significant increase in demand for rust removers from multiple end-use industries is expected to fuel the growth of the rust remover market globally.
The global rust remover market is expected to generate a CAGR of 3.9% over the historical period 2012-2021. According to the latest estimates from Future Market Insights, the rust remover market is expected to grow at a CAGR of 4.3%. in the forecast period 2022 and 2032.
The ever-increasing renovation and remodeling activity coupled with increasing local and foreign investment in the construction sector in emerging countries such as China, India, Australia and Brazil are fueling the demand for rust removers. The expansion of the automotive industry in Asia-Pacific, as well as the growth of the oil and gas industry, particularly in North America, is characterized by the production of shale gas through hydraulic fracturing, and horizontal drilling is expected to create further significant opportunities for the rust remover market.
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The central theses
- Physical rust removal methods require much more effort and time and are also considered to be less efficient compared to using chemicals. In some cases, the refining of the base metal also deteriorates due to the use of physical methods. As a result, rust removing chemicals have been used prominently as effective alternatives to physical rust removal methods. Rust remover chemicals are relatively more efficient and give the best results in terms of performance and cost than traditional methods due to which their demand is expected to increase over the forecast period.
- The growth of rust remover during the assessment period is expected to be driven by the continued industrial expansion and improvement of the regional infrastructure. Extensive investment in construction projects such as roads, railways, dams, shopping complexes, technology parks, airports and houses can be observed in both the public and private sectors. Furthermore, increasing government funding and budget allocation for infrastructure maintenance and various other public utility, renovation and restructuring activities, especially in developed countries like USA, Germany and Italy are expected to drive the rust remover market.
- Robust growth was recorded in various end-user industries, with high demand for rust removers expected in the automotive industry in particular. Rust removers are primarily used in the automotive industry to clean and pre-treat metal surfaces prior to metal stamping and die casting for the manufacture of automotive components.
- The aerospace industry is expected to grow significantly as maintenance activities of existing fleets have also increased, leading to increased use of rust removers for cleaning aerospace parts such as jet engines, body frames and other parts. Therefore, these factors mentioned above will drive the demand for rust remover all over the world.
- There has been a significant increase in construction activity, particularly in emerging markets such as China, India, Brazil and the GCC countries, which is estimated to drive demand for rust removers for both new construction and repair and maintenance of existing infrastructure. An increasing number of housing projects in these countries, coupled with increasing investments in commercial infrastructure such as offices, hospitals, shopping complexes, hotels and restaurants, and educational infrastructure, have contributed to the expansion of cities and urban suburbs. Therefore, the construction sector is a major consumer of rust removers.
Prominent players in the rust remover market are focused on acquiring several other major players to expand their customer base. In addition, their expansion strategies include capacity and geographic expansions in emerging markets to strengthen their position in the global market. Some of the other key players are also investing in research and innovation for product development. Some others are introducing numerous sustainable products to minimize their carbon footprint.
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More insights into Rust Remover market
India is expected to remain one of the fastest growing countries in the global rust remover market. The country is expected to experience a robust CAGR of 6.3% over the estimation period. In emerging markets like India there is significant development in the construction and infrastructure sectors along with increasing industrialization affecting the Indian rust remover market. The rapidly growing sales and production of automobiles are also expanding the country’s market size.
Rust Remover Market Outlook by Category
By product type:
- Acidic rust removers
- Neutral rust remover
- Alkaline rust remover
By end-user industry:
- Oil and Gas/Petrochemical
- Construction & Infrastructure
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Contents
1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Technological road map
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Major Market Trends
3.1. Key trends affecting the market
3.2. Product innovation / development trends
Table of contents continued
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