Global Surface Treatment Chemicals Market Size Growth 2021 Forecast Research Report
Posted 2021-11-22 09:31:06
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Market Scenario
Market Research Future (MRFR) asserts that the global treatment chemicals market is set to grow an exponential rate during the forecast period (2021-2030).
Key Players
The key players in the surface treatment chemicals market include Nippon Paint Holdings Co. Ltd. (Japan), McGean-Rohco Inc. (The U.S.), Solvay SA (Belgium), OC Oerlikon (Switzerland), Henkel AG & Co. KGa (Germany), PPG Industries (The U.S.), Quaker Chemical Corporation (The U.S.), JCU CORPORATION (Japan), Nihon Parkerizing Co. Ltd. (Japan), Platform Specialty Products Corporation (The U.S.), and others.
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Surface treatment refers to the process of altering the surface properties of a manufactured product to attain the desired characteristic features. It can be mechanical or a chemical process, which is primarily used to enhance appearance, improve adhesion or wettability, solderability, resistance to corrosion, wear & tear, tarnish and harmful chemicals.
Drivers and Restraints
With a large-scale application of surface treatment chemicals in the automotive coating, the flourishing global automobile and component production is predicted to create sustainable demand for the surface treatment chemical market, particularly etchants along with electrolytic coloring chemicals. Developing industrialization coupled with elevated heavy machinery demand in emerging market is set to offer various growth opportunities for domestic as well as global manufacturers during the review period.
However, the stringent environmental regulations regarding emissions could hamper the market growth, as the volume sales of some surface treatment chemicals get impacted negatively. Nevertheless, MRFR reports that the global sale of passenger cars is exhibited to register a massive 78.6 million units mark on account of growing demand from the regions of the Asia Pacific and North America, a factor that could propel the market to another dimension altogether.
Market Segmentation
The global market for surface treatment chemicals is segmented on the basis of type, substrate type, and application.
By type, the market is segmented into anodizing solution and paint strippers.
According to the substrate type, the market is segmented into metal, plastic, and wood.
Application-wise, the market is segmented into automotive & transportation, industrial machinery, and construction.
Regional Analysis
The global surface treatment chemicals market is spread across five main regions of Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific is the largest and also the fastest growing market because of the growth of the construction industry coupled with the rapidly growing automotive and marine industry in the region. Economies such as India, Japan, South Korea, and China are the primary markets as the public investment in infrastructure sector is steadily increasing.
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Just behind is North America, which is the second largest market in the global surface treatment chemicals market. In the region, the United States (U.S) is the largest market as a result of the augmented demand for the product from various industries, for instance, aerospace, marine and defense industries, and growing reconstruction activities.
Europe is another region where the surface treatment chemicals market is thriving, with the United Kingdom (U.K), France, Germany, and Italy being the major contributors to the growth of the regional market. Also, the automotive industry in the region is driving the growth of the market.
On the other hand, Latin America is experiencing a slow but steady rise in industrialization with countries like Brazil, Venezuela, and others on the backdrop to pacifying political turmoil and reviving economies. Further, in the foreseeable future, various growth opportunities in the construction industry in the countries of the Middle East & Africa are bound to bolster the growth of the regional market.
Industry Development
May 2018 – Maysville Road in Madison County has gotten safer for drivers, as a high friction surface treatment has been applied, which is designed to make the surface of the road safer during inclement weather.
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