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The surface treatment chemicals market is growing pervasively, mainly due to the paint and coating industry on which a number of burgeoning industries are depending upon such as automotive & transportation. Moreover, the additional applications of these chemicals in numerous industrial machinery and metals for extending the durability and performance of these machineries escalates the market on the global platform.Analyzing the factors substantiating the market growth and the extent the market is expected to expand further, Market Research Future (MRFR) in its recently published study report asserts that the global surface treatment chemicals market is estimated to reach exponential accruals by 2023, posting a phenomenal CAGR throughout the assessment period (2017 2023).
Additional factors propelling the growth of the market include the rising demand for metal and low density yet tough material which is expected to augment further due to the burgeoning industries such as construction, automotive, and transport. Furthermore, rapid industrialization, worldwide along with the growing international trade and expanding residential and commercial infrastructure is expected to propel the growth of the market, creating a substantial demand for surface treatment chemicals during the years to follow.
On the other hand, factors such as the stringent regulatory measures imposed in the manufacturing of these chemicals are expected to obstruct the growth of the market. Besides, the volatility in the price and demand & supply gap of the raw materials required for the production of surface treatment chemicals are posing challenges in the market growth.
Nevertheless, the major end-use industries such as aerospace, defense, and marine that will continue to use metal due to absence of any significant choice, will support the growth of the market over the assessment period.
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Global Surface Treatment Chemicals Market - Competitive Landscape
Highly competitive, the surface treatment chemicals market appears to be fragmented owing to a huge number of companies operating in the market, churning the market competition. Increasing innovations and technologies will generate strong investment opportunities for these players. They strive to continue to commercialize other techniques that can lower the production.
To gain the competitive advantage, these players try to attain expertise in developing techniques, managing supply chains and in-depth domain knowledge in a number of advanced materials in addition to the prevailing strategies such as acquisition, partnership, and expansion of manufacturing facilities.
The competitive landscape of the market is determined by evaluating numerous market participants along with their production chain, production capacities, and the revenue generated by the each manufacturer.
10 Major Players:
PPG Industries
Henkel AG & Co. KGa
Solvay SA
Nippon Paint Holdings Co., Ltd.
OC Oerlikon
McGean-Rohco Inc.
Platform Specialty Products Corporation
JCU Corporation
Quaker Chemical Corporation
Nihon Parkerizing Co., Ltd.
Surface Treatment Chemicals Market Segmentation
For enhanced understanding, the report has been segmented into four key dynamics.
By Type : Anodizing Solution, Paint Strippers, Passivation, Pickling, Anti-Corrosion, and Cleaners among others.
By Substrate Type: Metal, Plastic, and Wood.
By Application : Automotive & Transportation, Industrial Machinery, Construction, Electrical & Electronics.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Industry/Innovation/Related News-
February 19, 2019 --- Akzo Nobel N.V., trading as AkzoNobel (the Netherlands), a leading global paints & performance coatings and chemical company announced that its Asia Holdings has entered in an exclusive partnership deed with Nihon Parkerizing (japan), world s leading surface treatment chemicals provider to provide best in class technologies to the customers.
AkzoNobel s specialty coatings products deliver tailor-made coatings solutions that meet the specific needs of just about any automotive OEM manufacturers; passenger cars, commercial vehicles, tractors, motorcycles, aerospace, etc.
January 23, 2019 ---- The Surface Treatment global business unit of the Coatings division of the world s largest chemical company BASF SE (Germany), operating under the Chemetall brand, announced the acquisition of the automotive paint detackification business including all the shares of Galaxy Chemical Corporation of Polymer Ventures, Inc. (the US) that produces and distributes polymer additives.
The transaction culminates a long-standing partnership between the two organizations whose customer portfolios fully align. Chemetall s surface treatment products which are designed to optimally prepare metal surfaces for the painting process and ensure proper coating adhesion.
The acquisition is expected to provide customers with best-in-industry value: by streamlining the combined supply chain; enhancing service through the organizations mutual commitment, meeting technical requirements with expanded in-field representation and industry specialists; new products through global R&D resources, and stronger manufacturing and processing capabilities. The joined business, furthermore, represents a significant growth opportunity for both of the company s customers, and suppliers.
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Surface Treatment Chemicals Market - Regional Analysis
The Asia Pacific region heading with the availability of feedstock and cost-competitive labor force dominates the global surface treatment chemicals market with the significant share. The increasing development strategies drive the market growth in the region, fulfilling the demand for the product.
Moreover, the huge demand for these chemicals across the burgeoning end-use industries such as construction, automotive, and marine industry in the region fosters the growth of the regional surface treatment chemicals market. The largest number of manufacturing plants and consumption in the countries such as India, Taiwan, and South Korea is the key driving force for the market growth in the region.
The North American region is another lucrative market for surface treatment chemicals, accounting as a second-largest market, globally. Owing to the growing industrialization backed by the rising investments transpired in the field, this market is expected to witness a significant market growth over the forecast period.
The countries such as the US, Canada, and Mexico led by the huge demand from the automotive OEM market are further expected to drive the market growth in the region during the review period. Moreover, the increasing demand for the product from various industries such as aerospace, marine, and defense industries drive the growth of the regional market. Also, the growing reconstruction activities in this region positively impacts the market growth.
The surface treatment chemicals market in the European region, heading with its largest automotive industry in the world accounts for a profitable market, worldwide. Additional factors substantiating the growth in the regional market include the presence of well-established end-use industries and rising expenditures on R&D and innovation in the countries like the UK, France, Germany, and Italy.
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Release ID: 489013
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