Metal carboxylates are chemical compounds used as catalysts, stabilizers, and driers in various industrial applications, especially in the production of coatings, paints, and polymers. They manufacture a wide range of metal carboxylates, including cobalt, manganese, and zinc derivatives, catering to the diverse needs of industries such as automotive, construction, and packaging.
The metal carboxylates market is a competitive and growing market with significant potential. Companies need to adopt a strategic approach to succeed in this market by focusing on product innovation, cost-reduction, sustainability, and customer service. The future of the metal carboxylates market is bright, with new applications and technologies emerging.
The competitive scenario in the metal carboxylates market is dynamic and evolving. Established players are facing competition from new and emerging companies offering innovative solutions. Companies are focusing on product diversification, geographic expansion, cost-reduction measures, and investments in research and development to gain a competitive edge. The market is expected to witness continued growth in the coming years, driven by increasing demand from various end-use industries and the growing focus on sustainability.
Key Companies in the Metal Carboxylates market include
Strategies Adopted:
Key players are adopting various strategies to gain a competitive edge in the market. These include:
Factors for Market Share Analysis:
Analyzing market share in the metal carboxylates market involves considering various factors, including:
Recent News
June 2023:
BASF SE: Reported the extension of its creation limit with regards to sodium stearate, a key metal carboxylate, at its Nanjing, China site. This extension is supposed to be finished by Q4 2024 and will fulfill the developing need for metal carboxylates in the Asia Pacific locale.
July 2023:
Evonik Enterprises AG: Sent off its new line of VESTINATÂŽ metal carboxylates for use in PVC applications. These new items offer superior handling properties and execution, prompting more savvy and supportable PVC creation.
August 2023:
Kingfa Innovation Gathering Co., Ltd.: Reported the fruitful improvement of another impetus innovation for the development of cobalt carboxylates. This new innovation is supposed to essentially diminish creation costs and work on the ecological impression of cobalt carboxylate creation.
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Metal Carboxylates Market Size was valued at USD 5,271 million in 2021. The Metal Carboxylates market is projected to grow from USD 5,271.6 million in 2022 to USD 7,964.2 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.28% during the forecast period (2022 - 2030). They have a major application in the building and construction industry, where they are used to protect structures from any external damage. The strongest surge in industrial coating demand in China and India, followed by moderate growth in Europe, are driving the demand for coatings, which in turn, drives the demand for metal carboxylates to a large extent. Additives are used to enhance performance and correct the deficiencies of fuels or lubricants used in several applications. Metal carboxylates of Manganese and iron are widely used as fuel additives.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
According to the U.S. EPA, the typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year. With passenger vehicles composing 93% of the estimated 1.2 billion vehicles globally, the amount of carbon emissions from passenger vehicles alone climbs to a concerning total. With carbon emissions rising rapidly since the Industrial Revolution, stringent environmental regulations are being enforced. Fuel additives demand is driven by increasing demand of hydrocarbon fuels for heat and power generation from transportation and power generation. Additives are used to enhance performance and correct the deficiencies of fuels or lubricants used in several applications. In addition, with the widespread inclusion of biodiesel as part of the diesel fuel blend due to the rising environmental concerns will also necessitate the use of fuel additives. Similarly, with the increase in use of marine and aviation transport, lubricant additives are also gaining an upsurge demand. moreover, with the aging transportation fleet, its demand will rise subsequently in the future. Thus, with growing demand for fuel and lubricant additives, the market for metal carboxylates such as iron and manganese carboxylates are likely to grow as metal carboxylate are vital functional additives. Thus, increasing demand in the lubricating oils and greases industry is a factor driving the growth of the metal carboxylates market revenue.
The Metal Carboxylates Market segmentation, based on product type, includes Primary Drier Metals, Through Drier Metals, Auxiliary Drier Metals, Cobalt, Manganese, Iron and others. The cobalt segment accounted for the largest market share in 2021, in the Metal Carboxylates Market revenue. As demand for cobalt-free alternatives has continued to accelerate across the industry due to Increasing regulations and rising cost of cobalt, the growth of the metal carboxylates market will be hampered to a large extent as cobalt carboxylates make up majority of the metal carboxylates market. Nevertheless, with the increasing research and development activities surrounding carboxylates, companies will see new opportunities for emerging applications.
The Metal Carboxylates Market segmentation, based on application, includes into catalysts, lubricant additives, driers, plastic stabilizers, polyester accelerators, fuel additives, and others. The metal carboxylates are used in various applications. They occupy the largest share among the drier applications and are used to accelerate the drying process, resist loss-of-dry, and improve the film properties as for instance gloss and film hardness. High-end coatings are widely used in the construction, automotive & transportation, and wood industries. They have a major application in the building and construction industry, where they are used to protect structures from any external damage.
Figure 2 Metal Carboxylates Market, by Application, 2021 & 2030 (USD Million)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Fuel additives demand is driven by increasing demand of hydrocarbon fuels for heat and power generation from transportation and power generation. Additives are used to enhance performance and correct the deficiencies of fuels or lubricants used in several applications. In addition, with the widespread inclusion of biodiesel as part of the diesel fuel blend due to the rising environmental concerns will also necessitate the use of fuel additives. Similarly, with the increase in use of marine and aviation transport, lubricant additives are also gaining an upsurge demand. moreover, with the aging transportation fleet, its demand will rise subsequently in the future. Thus, with growing demand for fuel and lubricant additives, the market for metal carboxylates such as iron and manganese carboxylates are likely to grow as metal carboxylate are vital functional additives.
By Region, the study segments the market into North America, Europe, Asia-Pacific and Rest of the World. Â Among these, Asia-Pacific dominated the market with a share of 44.0%, accounting for USD 2,320.5 million in 2021; it is expected to register the highest CAGR of 5.3% from 2022 to 2030. North America was the second largest with a share in 2021. The North American market is mainly driven by the availability of raw materials and increasing demand for Metal Carboxylates across the region for various applications.
Further, the major countries studied are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3 METAL CARBOXYLATES MARKET SHARE BY REGION 2021 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Major market players have large production bases and advanced manufacturing facilities at the domestic and international levels. This helps them supply the product to various end users across the globe within less time as compared to the small-scale manufacturers, providing a competitive edge in the global market. The leading producers of merchant Metal Carboxylates are US, and Canada. According to MRFR analysis, the Metal Carboxylates Market has a huge revenue base in European countries.
One of the primary business strategies adopted by manufacturers in the Metal Carboxylates Market to benefit clients and expand the metal carboxylates market sector is to manufacture locally to reduce operating costs. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth.
Organometals, DIC CORPORATION, DURA Chemicals, Inc., NICHIA CORPORATION, Comar Chemicals, EGE KIMYA, The Shepherd Chemical Company, Borchers Inc., Baerlocher, Patcham, and Nihon Kagayu Sangyo among others are the prominent players operating in the Metal Carboxylates Market. These players account for a significant share of the global market owing to their large production capabilities, global revenue base, and global distribution network.
Also, DIC was one of the first Japanese printing ink manufacturers to establish a presence in other parts of Asia. In 1986, Sun Chemical Corp., a leading manufacturer of printing inks, joined the DIC Group. Since then, additional acquisition-including the Coates Group in 1999- have reinforced DIC's position as one of the world's preeminent fine chemicals companies. The company has 189 group companies in 63 countries and territories worldwide. The Group also has operating sites all over the world including the PRC, Asia Pacific, Europe, and the Americas besides Japan where the DIC HQ is located. At present, DIC is focusing its expansion efforts on promising growth markets in Asia to strengthen core businesses, and is also establishing a presence in such emerging markets as Central and Eastern Europe, South America and the Middle East. Â
February 2021 DIC Corporation has commenced a partnership with Good Chemistry Companyâa Canadian start-up based in Vancouver, British Columbia. Good Chemistry is building a platform that integrates quantum computing, artificial intelligence (AI) and cloud computing, to perform quantum chemistry simulations, with the goal of leveraging quantum technology to expand its materials development business.
April 2021 Arxada, a leading global specialty chemicals business, has combined with Troy Corporation, a global leader in microbial control solutions and performance additives. The combination creates a comprehensive and innovative offering in Arxadaâs Microbial Control Solutions (âMCSâ) business, enabling the delivery of new solutions and value-added services to customers. Arxada will benefit from Troyâs technical expertise, trusted customer relationships and broad portfolio of performance products as well as its long history of innovation, including the invention of 3-iodo propynyl butyl carbamate (IPBC). Troy brings five new production sites across the world, four Research and Development centers, and approximately 650 employees, enhancing Arxadaâs commercial presence across the globe to further accelerate the Companyâs innovation capabilities and better serve customer needs.
March 2021 Baerlocher is expanding its production site in Dewas in the Indian state of Madhya Pradesh. After the last expansion at the beginning of the year 2020, this new expansion is a strong commitment for the engagement of the Baerlocher Group in India.
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East & Africa
Metal Carboxylates Market Highlights:
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