Growing Industrial Sector in APAC to Drive Surface Treatment Chemicals Industry
The global Surface Treatment Chemicals Industry is profiled in detail in the latest research report from Market Research Future (MRFR). The Surface Treatment Chemicals Industry is mainly driven by the growing demand in the automotive, construction, and electrical and electronics industries, which have emerged as the major consumers of surface treatment chemicals. Surface treatment chemicals are chemicals used to alter the mechanical or chemical properties of various surfaces and have gained strong demand in various end use industries due to the growing demand for longer lasting, resistant products. The report presents a detailed review of the Surface Treatment Chemicals Industry’s historical growth trajectory and presents detailed forecasts for the market’s growth over the forecast period from 2022 to 2030.
The automotive industry is the major consumer of surface treatment chemicals and is likely to retain the position over the forecast period. The automotive industry is constantly on the lookout for products that enable longer operational lives for automotive components, due to the growing emphasis on longer lasting products and the growing demand from consumers for products that are resistant to chemicals and physical deformation. Automotive products are necessarily exposed to the elements, leading to a growing demand for products that last longer and can withstand natural extremes such as extreme heat and rainfall. The growing product innovation in the automotive industry has created a conducive environment for developments in various arms of the automotive industry. This has created highly promising conditions for the Surface Treatment Chemicals Industry to prosper. This is likely to remain a key driver for the Surface Treatment Chemicals Industry over the forecast period.
Industrial machinery is also a major consumer of surface treatment chemicals, due to the growing demand for longer-lasting industrial machinery that can withstand chemicals, heat, and moisture without rusting or corroding in other ways. The growing industrialization in regions such as Asia Pacific is thus likely to be a major driver for the global Surface Treatment Chemicals Industry over the forecast period, as this is likely to drive the demand for industrial machinery. The construction and electronics industries are also likely to remain important consumers of surface treatment chemicals in the coming years. The increasing popularity of consumer electronics is likely to be a major driver for the global Surface Treatment Chemicals Industry, as this has presented the consumer electronics industry with capital to provide added-on enhancements in electronic devices such as treated surfaces.
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Competitive Analysis:
Leading players in the global Surface Treatment Chemicals Industry include Nihon Parkerizing Co. Ltd., Quaker Chemical Corporation, Platform Specialty Products Corporation, JCU Corporation, McGean-Rohco Inc., OC Oerlikon, Solvay SA, Nippon Paint Holdings Co. Ltd., Henkel, and PPG Industries. Development of wide-ranging, application-specific product catalogues is likely to be a major objective for players in the Surface Treatment Chemicals Industry over the forecast period.
Segmentation:
The global Surface Treatment Chemicals Industry is segmented on the basis of type, substrate type, application, and region.
By type, the global Surface Treatment Chemicals Industry is segmented into anodizing solutions, paint strippers, passivation, pickling, anti-corrosion, cleaners, and others.
By substrate type, the global market is segmented into metal, plastic, and wood.
By application, the global Surface Treatment Chemicals Industry is segmented into automotive and transportation, industrial machinery, construction, electrical and electronics, and others. The automotive and transportation industry holds a dominant 43% share in the global Surface Treatment Chemicals Industry as of 2016 and is likely to remain the leading application segment of the market over the forecast period. Industrial machinery, construction, and electronics also hold significant shares in the global Surface Treatment Chemicals Industry.
Regional Analysis:
Asia Pacific is the largest and fastest growing regional market for surface treatment chemicals due to the growing industrial sector in the region, headlined by the growing automotive industry. The growing demand for treated automotive components and industrial machinery in Asia Pacific is likely to be a major driver for the Surface Treatment Chemicals Industry in the region.
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