Extensive Use of Metal Carboxylate as a Drier or Curing Agent is Expected to Propel the Growth of the Global Metal Carboxylate Market

Pune, India, March 2023, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Metal Carboxylate Market.

Metal Carboxylate Market Highlights

Global 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.

Competitive Landscape

The global Metal carboxylates market is characterized by the presence of many regional, and local vendors. The market is highly competitive with all the players competing to gain market share. Intense competition, rapid advances in technology, The vendors compete based on cost, product and quality. It is crucial for the vendors to provide cost-efficient and high-quality Metal carboxylates, in order to survive and succeed in an intensely competitive market environment.

The growth of market players depends on the market conditions and industry development. Thus, the vendor should focus on expansion and introduce advance products in the market. 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 major companies profiled in the market.

Segmentation

By Product Type

• Primary Drier Metals: Primary driers are autoxidation catalysts, and as such function predominantly as surface driers, where the dioxygen concentration is highest. They account for 17.4% of the global metal carboxylates market. Cobalt carboxylates is the principal cobalt drier used in the paint and ink industry.


• Through Drier Metals: Through driers ensure that a coating dries at a uniform rate throughout the film thickness. Without the use of through driers the paint will dry only at the surface and form a film and the coating underneath would remain wet. Among the thorough drier metals, lead was the most commonly used until the toxicity of lead became a major concern. Presently, Zirconium is the most commonly used metal due to its less toxicity and effectiveness.


• Auxiliary Drier Metals: Auxiliary drier metals modify the effect of other driers but do not demonstrate any drying action on their own. Calcium, Barium, and Zinc are the auxiliary drier metals. Among them, Calcium is the most commonly used as it is very effective when used in conjunction with cobalt and zirconium. It promotes drying under adverse weather conditions such as low temperature and high humidity. Zinc auxiliary drier is the second most commonly used auxiliary metal used in combination with Cobalt drier


• Cobalt: Cobalt carboxylates is the collective description for a range of partially soluble compounds formed by cobalt in combination with a range of organic acids. These substances make up about 30% of the market and are used widely for both decorative and functional end uses. They are used in various organic synthetic catalysts as an oxidation catalyst.


• Manganese: Manganese carboxylates include manganese laurate, manganese palmitate, and manganese stearate. Manganese is a metal carboxylate that can be used as a fuel additive. From the1950s, manganese-based additives were produced and marketed with the claim that they increase the octane value in gasoline. In addition, Manganese additives are not widely used because of the manganese neurotoxicity.


• Iron: Ferrous and ferric carboxylates are medium viscous dark red – brown solutions of the metallic soap with 2-ethyl hexanoic acid in mineral spirits. Iron carboxylates also function as pigment wetting agents and help the fast and better grinding of carbon black pigments.


• Others: Other metal carboxylates considered under the scope of the study includes Zinc, Copper, Zirconium, Barium, Calcium, Cerium, and Magnesium among others.

By Application

• Catalysts: Metal carboxylates are used as a curing agent of polyurethane which acts as a waterproofing layer and barrier. It is also used for the polymerization reaction such as synthetic rubber and the oxidation synthesis of various reactions. Cobalt carboxylates are used in various organic synthetic catalysts as an oxidation catalyst.


• Lubricant Additives: Metal carboxylates are used as extreme pressure additives and rust preventives of metal working fluid and grease. With increasing regulatory pressure on improving the fuel efficiency of vehicles and reducing greenhouse gas emissions, there has been a tremendous demand for lubricant additives.


• Driers: Metal carboxylates are added to drying oil coatings and printing inks. Among the applications, Metal carboxylates occupy the largest share among the drier applications. They are used to accelerate the drying process, resist loss-of-dry, and improve the film properties as for instance gloss and film hardness.


• Plastic Stabilizers: Plastic stabilizers are used in production of plastics to enhance its several properties including premature withering, improving shelf life and UV protection among several others. Calcium versalate, an eight-carbon carboxylate sold by the Shepherd Chemical Company, and Butyl tin carboxylates and Octyl tin carboxylates by Baerlocher Group of Companies are prime example of the plastic stabilizers.


• Polyester Accelerators: Metal carboxylates are used as an accelerator of unsaturated polyester resin which is used in the manufacturing of bathtubs and decorative boards; initiating radical polymerization. Accelerators are either single-metal or multi-metal metallic soaps based on synthetic monocarboxylic and naphtenic acids depending on the application The accelerators can be distinguished in to two product categories single metal and combination of metals.


• Fuel Additives: Metal carboxylates of Manganese and iron are used as fuel additives. Iron based fuel additives have been shown to reduce DMP emissions form Diesel engines and the carbon emissions on turbines. Iron based additives acting also as anti-knocking agents and as smoke reduction agents by catalytically enhancing the oxidation of carbon particles.


• Others: Other applications include the use of metal carboxylates as rubber adhesion promoters, fungicides and wood preservatives

By Region

• North America: North America occupies the second largest share in the global metal carboxylates market. Majority of the demand for metal carboxylates in the U.S. comes from the paints, coatings, and the rubber tire industry. Increasing commercial construction activities in the United States, and the increasing beverage can production in the region are anticipated to drive the demand for metal carboxylates in the region.


• Europe: In Europe, Germany occupies the dominant position as it is the leading European nation for manufacturing. Other large European economies include Switzerland, Poland, Sweden, Belgium, Austria, Norway, Ireland and Denmark. Europe occupies a leading position in numerous industrial manufacturing sectors, such as coatings and automotives. Several top players of the coatings industry such as Akzo Nobel, BASF, Jotun, Beckers Group are located all over the continent, which in turn increases the demand for metal carboxylates from these companies. However, with REACH regulations strengthening in Europe, the market demand for cobalt metal carboxylates will be affected.


• Asia Pacific: Asia Pacific is the largest market in the global metal carboxylate market, accounting for 44% of the global market in world markets. The Asia Pacific region is one of the global hubs for manufacturing and accounts for nearly 50% of the worldwide manufacturing output. The region accounts for the largest geographic market for paint & coatings in the world and remains a strong, robust and diverse market for paint coatings products.


• Latin America: Brazil and Mexico are the two main markets that show the largest participation in the manufacturing sector, followed by Argentina and Chile. Brazil is, as expected, relatively strong in chemical processing related to the oil industry, an activity that accounts for a significant portion of the country.


• Middle East & Africa: The Middle Eastern and African regions are relatively small in terms of metal carboxylate consumption. However, the demand has grown rapidly in recent decades as these economies continue to evolve. It is estimated that within the two sub-regions of the Middle East and Africa, the former accounts for a slightly larger share of demand.