Metal Carboxylate Market To Reach USD 8.5 Billion By 2032 | DataHorizzon Research
The metal carboxylate market size was valued at USD 5.3 Billion in 2023 and is expected to reach a market size of USD 8.5 Billion by 2032 at a CAGR of 5.3%.
Fort Collins, Colorado, April 22, 2024 (GLOBE NEWSWIRE) —
Emerging opportunities across several industries to drive metal carboxylate market growth.
The metal carboxylate sector enjoys steady expansion propelled by heightened demand across various end-user sectors. Notably, the construction industry, which holds a substantial market share, is undergoing a surge fueled by rapid urbanization and infrastructure projects, particularly in emerging markets. Projections from the World Bank indicate a steady annual growth rate of 3.6% in the global construction sector until 2030. Furthermore, the automotive industry’s need for advanced lubricants and greases containing metal carboxylates drives further market advancement. The International Organization of Motor Vehicle Manufacturers (OICA) figures revealed that global vehicle production reached 80.1 million units in 2022, underscoring robust demand for automotive components and associated chemicals.
The metal carboxylate market will witness a new emergence of novel opportunities within the pharmaceutical and cosmetic sectors. Metal carboxylates are progressively utilized as building blocks for active pharmaceutical ingredients (APIs) and in crafting cosmetic blends.
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Segmentation Overview:
The metal carboxylate market has been segmented into type, end-use, application, and region.
Zinc carboxylates registered substantial growth in 2023
- Based on the market segmentation by type, the market is trifurcated into zinc carboxylates, calcium carboxylates, and cobalt carboxylates. Zinc carboxylates registered huge growth in 2023 and are projected to retain a leading position in the coming years. This can be attributed to the widespread use of zinc carboxylates as heat stabilizers and catalysts in the polymer industry, particularly in producing polyvinyl chloride (PVC) and polyolefins.
The construction sector accounted for prominent growth in the past
- The market is segmented by end-use into construction, automobile, packaging, and others. The construction sector accounted for the largest segment in the metal carboxylate market. The booming construction industry, driven by rapid urbanization and infrastructure development, particularly in emerging economies, has fueled the demand for metal carboxylates.
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Metal Carboxylate Market Report Highlights:
- The metal carboxylate market growth is anticipated at a CAGR of 5.3% by 2032.
- Growing industrial demand for metal carboxylates is expected to propel the industry’s growth.
- The Middle East and African regions are projected to lead the metal carboxylate industry in the near future. Increasing urbanization, government initiatives, and infrastructure development fuel the market’s growth.
- Some prominent players in the metal carboxylate market report include BASF SE, Chemtura Corporation, Morimura Group, Baerlocher GmbH, Valtris Specialty Chemicals, Arkema Group, Keramida Life Sciences, Fushida Group, Lintech International, Peter Greven GmbH & Co. KG, Linkers Chemie, and Dura Chemicals.
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