Surface treatment of metals is undertaken in order to prevent or defer the corrosion, increasing its durability and makes it wear resistant. Surface of metals are treated chemically to improve their adhesive properties, along with wettability, solderability, corrosion resistance, tarnish resistance, chemical resistance, wear resistance, hardness and surface friction, and also to improve the overall appearance. The surface treatment chemicals are being widely used at present over a range of applications, moreover, its market is evolving rapidly with time. The dynamic growth rate is due to the wide variety of end-use applications of such as in automotive bodies and construction materials, which makes the components durable for a longer period of time.
The global surface treatment chemicals market is expected to grow at CAGR of 7.8% between 2017 and 2023. The increasing demand of surface treatment chemicals across various industry verticals and the increasing scope of research and development to develop eco-friendly chemicals are some of the major factors driving the growth of overall market. The rapid evolution of the market over the past few decades is attributed to the technological advancement in this field, increased application areas and growing range of end-use industries. The expanse of surface treatment chemicals market includes surface treatment chemical manufacturers, base material surface treatment companies, and end users.
At present, the major application areas for surface treatment chemicals include automotive industry, general industry, coil industry, industrial machinery, aerospace industry etc. Among these industries, automotive sector dominates the market because of an extensive use of surface treatment chemicals on various automotive components and in the aftermarket as well. Automotive industry is expected to show a similar trend in the future, closely followed by general industry. However, aerospace industry is anticipated to have the highest growth potential, owing to the escalating need of surface treatment in aluminium and steel parts used in airplanes.
The current market of surface treatment chemicals is dominated by metals as base materials, with the largest market share, and this trend is expected to continue in the coming years. However, the growth rate of other base materials is expected to be highest during 2017 to 2023. Among different types of chemicals used in the market, viz. corrosion protection chemicals, cleaners, anodizing chemical and passivation agents, corrosion protection chemicals hold the largest market share and are expected to continue their market hegemony in the future. Whereas, the rest of the chemical types are expected to grow at the highest rate during 2017 to 2023.
Some of the major players in the surface treatment chemicals market, such as Henkel AG, Chemetall, Nihon Parkerizing, PPG, Nippon Paint Holdings, Oerlikon Group, JCU Corporation, Derivados Del Fluor, Solvay, McGean, Yuken Industry, and PoliteknikMetal are undertaking different strategies to gain market presence. These companies are engaging in activities like new range of product launches and developments, partnerships, collaborations & agreements, and mergers & acquisitions in order to stay ahead in the competition. The landscape is quite competitive because of the presence of a large number of players in the market, fuelling innovation and development in the industry, which will boost the market growth.
BIS Research has compiled an extensive market research report on ‘Global Surface Treatment Chemicals Market - Analysis and Forecast, 2017-2023’. The market analysis report provides an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.
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