Growing Demand from Automotive Industry is set to boost the growth of the Surface Treatment Chemicals Market at a healthy CAGR

Posted November 12, 2018 by nikhilkhadilkar

Global Surface Treatment Chemicals Market Research Report by Type (Anodizing Solution, Paint Strippers), Substrate Type (Metal, Plastic, Wood), Application (Automotive & Transportation, Industrial Machinery, Construction), Region – Forecast till 2023
Surface Treatment is either a mechanical or a chemical process that is mainly deployed in order to improve the surface properties of different materials such as metal, plastics, and wood, among others. The Surface Treatment Chemicals confer some important physical advantages to the substrate and also add into the life span of the end product so manufactured. These chemicals help reducing or enhancing photosensitivity, striping of paints and other tough stains, corrosion curing, and most importantly electroplating of the metal surface. The major applications of surface Treatment Chemicals can be found in industrial machinery and metals to extend the durability and performance of the same. Moreover, automotive, construction and electrical industries are some of the other substantial end users of Surface Treatment Chemicals. The protuberant factors driving growth of the Global Surface Treatment Chemicals Market are the rising demand of passenger vehicles from developing countries, rapid urbanization, growing industrialization and increasing infrastructure development activities around the globe.

Competitive Analysis:

Some of the prominent players in the Global Surface Treatment Chemicals Market are PPG Industries (The U.S.), Henkel AG & Co. KGa (Germany), Nippon Paint Holdings Co., Ltd. (Japan), Solvay SA (Belgium), OC Oerlikon (Switzerland), McGean-Rohco Inc. (The U.S.), JCU CORPORATION (Japan), Platform Specialty Products Corporation (The U.S.), Quaker Chemical Corporation (The U.S.), and Nihon Parkerizing Co.,Ltd. (Japan), among others.

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Market Segmentation:

The Global Surface Treatment Chemicals Market has been segmented on the basis of type, substrate type, application and region.

Based on the Type, the market is categorized into anodizing solution, paint strippers, passivation, pickling, anti-corrosion, cleaners and others. Among these types, the anodizing chemicals, which are used as an electrolytic solution to provide protective covering on metals through an electrolysis process, is holding major share of the market. This is attributed to ease and effectiveness of the process in curing corrosion, other flaws.

By the Substrate Type, the market is categorized into metal, plastic, wood. The metal is the major substrate segment owing to the vast use in numerous end user industries such as automotive, construction and electrical. In coming years, the plastic substrate type is projected to grow at considerable CAGR with rising use of light weight yet stiff polymeric materials.

Lastly, Based on the Application, the Global Surface Treatment Chemicals Market classified into automotive & transportation, industrial machinery, construction, electrical & electronics, wherein the automotive & transportation is the largest application of surface treatment chemicals, holding over 40% share of the market in 2016. This is attributed to, growing demand of cars and rising global trade fuelling growth of the transportation sector during the years to follow.

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Regional Analysis:

The Global Surface Treatment Chemical Market consists of five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these regions, Asia Pacific is estimated to grow at the highest CAGR and holds over 45% share of the market on account of increasing construction activities, along with the steady growth in transportation and marine sector in this region. Countries namely, India, Japan, South Korea and China are the leading markets in this region. Following Asia Pacific, North America is the second most significant region in the Global Surface Treatment Chemicals Market. The U.S. is the major market in this region due to increasing demand for the product form well-established end use industries in this country, such as aerospace, construction, marine and defense. Europe is also a substantial region in the Global Surface Treatment Chemicals Market. The European automotive industry holds the major share of the global vehicle production, which drives the growth of the regional market. The U.K, France, Germany, and Italy are major contributors to the regional market. Latin America is expected to grow at a considerable CAGR during the forecast period, which is attributed to reviving economic scenario in various countries namely Brazil, Venezuela and Mexico. The Middle East & Africa are equipped with greater opportunities for the product owing to the growing construction industry, which is likely to boost the growth of the regional market during the forecast period.

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Last Updated November 12, 2018