The demand for metal products to work under extreme pressure surges the necessity for elevated durability of such products, which elevates the importance of anti-seize compounds. Such importance of compounds will likely generate a rising demand for innovative and cost-effective products that can cater to the diversified requirements of consumers
WILMINGTON, Del., July 25, 2024 /PRNewswire/ -- The global anti-seize compound market will likely traverse a moderate progress path that will help the market reach USD 344 million by 2034. The last recorded valuation of the industry was USD 196.6 million in 2023. This advancement of the sector is attributed to a moderate CAGR of 5.2% [https://www.transparencymarketresearch.com/anti-seize-compounds-market.html] through the forecasted era.
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With the growing investments in the manufacturing sector spur the growth of different organizations in the industry. This factor has been pushing key players to innovate and develop new solutions for preventing metal corrosion. Product augmentation has been opening new market verticals, driving the industry.
The subsequent effect of monetary support is the growing research activities in the industry. With the spurring of research and development, precision has been elevated, which results in delivering better preventive solutions. This factor will likely drive the ecosystem.
The chance of food contamination due to the use of metal-oriented anti-seize compounds is higher. As a result, the demand for products that will not hamper the food quality is sought more has been growing rapidly. Lubricants, preventive measures for galling and corrosion, and seizing are growing in the industry. This is a key contributing factor to the anti-seize compound market propagation.
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Organizations in the food and beverage industry are emphasizing the reduction of maintenance and servicing of machinery. Along with this, the demand for safe and reliable food is a key concern for manufacturers. To cater to the need, key players focus on using machine-maintenance methods that will minimize the downtime of machines. Anti-seize compounds can provide suitable solutions to the issue, and hence, the demand for such solutions spikes.
Key Findings from the Market Report
-- The landscape of anti-seize compounds can be segmented into different
sub-segments. Depending on categories, the competitive landscape can be
segmented into metallic and non-metallic anti-seize compounds. In the
case of non-metallic anti-seize compounds, their ability to perform in
humid conditions is better, driving the demand in marine applications.
-- Based on the type of compounds, Aluminum-based anti-seize compounds are
widely used. The ability of compounds to reduce friction is great, and
hence, the demand for such solutions for friction reduction applications
is greater.
-- Pertaining to metal protection against salt water corrosion, copper and
graphite-based anti-seize compounds are widely used. This factor fuels
the demand for such compounds in marine engineering.
-- Along with the automotive and construction industry, the demand for
anti-seize compounds is surging in the food and beverage industry. With
the rising importance of reducing the downtime of machines and reducing
food contamination, more preference is given to such solutions.
Anti-Seize Compound Market Report Scope:
Report Coverage Details Forecast Period 2024-2034 Base Year 2020-2022 Size in 2023 US$ 196.6 Mn Forecast (Value) in 2034 US$ 344.0 Mn Growth Rate (CAGR) 5.2 % No. of Pages 245 Pages Segments covered By Category, By Type, By End-use, By Region
Regional Profile
-- The growing population in the Asia-Pacific is fueling the food industry.
This will drive the demand for anti-seize compounds, which will help the
ecosystem grow in this region.
-- With the robust technological infrastructure in North America,
innovation has been spurring in the region. This creates lucrative
prospects for key players in the region.
-- Europe is a central hub for the manufacturing sector, which drives the
demand for anti-seize compounds in the region.
Competitive Landscape
The global anti-seize compound market is cluttered with new entrants and key players. Organizations have been introducing new products to bolster positions in the industry.
-- 3M is a key player that operates in different verticals, including
abrasives, advanced materials, automotive parts, and hardware.
-- DuPont is another key player working in construction materials, consumer
products, and advanced printing solutions.
-- Chevron Corporation offers refined products, including marine and
aviation fuels, gasoline, fuel oil additives, and many more.
Key Players
-- FUCHS
-- Chevron Corporation
-- Bel-Ray
-- DuPont
-- 3M
-- Henkel AG & Co. KGaA
-- CSW Industrials, Inc.
-- CRC Industries
-- Permatex
-- Bostik
Key Developments in the Anti-seize Compound Market
-- In May 2023, DuPont acquired Spectrum Plastics Group. This strategic
move helped the firm diversify its capabilities.
-- In May 2024, 3M expanded the business in Nebraska. With the expansion of
90,000 square feet in the valley, the firm has consolidated its market
position.
Market Segmentation
By Category
-- Metallic Anti-seize Compounds
-- Non-metallic Anti-seize Compounds
By Type
-- Copper & Graphite Based
-- Aluminum Based
-- Zinc Based
-- Nickel & Graphite Based
-- Molybdenum Based
-- Others
By End Use
-- Food & Beverages
-- Power Generation
-- Automotive
-- Construction
-- Oil & Gas
-- Others
By Region
-- North America
-- Europe
-- Asia Pacific
-- Latin America
-- Middle East & Africa
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