During the forecast period of 2023–2035
Global Anti-Seize Compounds Market Key Insights
During the forecast period of 2023–2035, the global anti-seize compounds market is expected to reach an estimated value of ~USD 250 billion by 2035 by expanding at a CAGR of ~4%. The market further generated revenue of ~USD 180 billion in the year 2022. Major key factors propelling the growth of the anti-seize compounds market worldwide are the rising focus on developing robust infrastructures along with the increased investment in the construction sector for architectural development.
Market Definition of Anti-Seize Compounds
Anti-seize compounds are a special type of pastes, greases, and coatings that are applied to the surface of bolts, fasteners, flanges, and other clamped products to prevent them from galling, seizing, and corrosion. Also, the application of anti-seize compounds during assembling ensures that nuts and bolts are tightened without thread damage. They also act as lubricants that help in the process of disassembling.
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Global Anti-Seize Compounds Market: Growth Drivers
The growth of the global anti-seize compounds market can majorly be attributed to the rapid expansion of the construction sector across the world. The advantages of anti-seize compounds such as extended life, ease of assembling and disassembling, protection from harsh conditions, and provision of protective layers make it an ideal option for construction processes that use nickel, zinc, and lead products. Thus, the high expenditure made on the construction sector is anticipated to bring profitable growth opportunities for the market. Recent statistics stated that in June 2022, construction spending in the U.S. grew up to USD 930 billion for the residential sector, USD 490 billion for the nonresidential sector, and USD 345 billion for the public sector. Further, rapid urbanization and industrialization along with rising demand from end-use industries such as automotive and transportation, marine, mining, and others are other contributing factors for increasing the sales of anti-seize compounds in the forecast period.
The global anti-seize compounds market is also estimated to grow majorly on account of the following:
· Significant rise in mining activities
· A surge in oil & gas production
· Increased demand for copper-grade and nickel-grade compounds
· Rising concerns about the dispersal of heavy metals into the environment
· Growing government policies for infrastructure development
Global Anti-Seize Compounds Market: Restraining Factor
The low level of awareness about the advantages of anti-seize compounds along with the low adoption rate in developing nations is expected to be the major hindrance to the growth of the global anti-seize compounds market during the forecast period.
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Global Anti-Seize Compounds Market Segmentation
· By Type (Copper and Graphite Based, Aluminum, Copper and Graphite Based, Nickel and Graphite Based, Molybdenum Based, Non-Metallic, and Others)
· By End User (Food and Beverages, Automotive, Power Generation, Construction, Oil and Gas, and Others)
Out of these, the construction segment is expected to hold the largest segment share by 2035. The high focus on developing infrastructure projects is expected to increase the usage rate of bolts, nickels, and other clamped ingredients which in turn, is anticipated to generate the demand for anti-seize compounds to add protective layers and enhance the shelf life. Also, the burgeoning population has demanded a rise in residential construction along with commercial building construction. This trend is forecasted to drive segment growth in the assessment period. As per the United States Census Bureau, till June 2021, there were 142,153,010 housing units in the U.S. Further the building permit in the same period was 1,736,982 units.
· By Region
The Asia Pacific anti-seize compounds market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions on the back of an increase of anti-seize compounds in automotive and transportation applications. Thus, the rising automotive production in the region is expected to increase the sales of anti-seize compounds in the upcoming years. As per the International Organization of Motor Vehicles, the total production of vehicles in the region were 46,732,785 units in 2021, a rise from 44,276,549 units in 2020. Similarly, the total sales in the region were 42,663,736 units in 2021, a rise from 40,322,544 units in 2020. Further, the rising construction processes along with increased mining activities and high demand for oil & gas products are other growth factors for the market growth in the region.
The market research report on global anti-seize compounds also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa).
Key Market Players Featured in the Global Anti-Seize Compounds Market
Some of the key players in the global anti-seize compounds market are 3M Company, Henkel AG, Bel-Ray Company, SAF-T-LOK International Corporation, Molytech Lubes Private Ltd., CRC NZ, DuPont de Nemours, Inc., Bostik SA, Fuchs Petrolub SE, Calumet Specialty Products Partners, L.P., and others.
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