Sarasota, FL -- (SBWire) -- 06/02/2018 --According to the report, global chemical surface treatment market was valued at USD 11.09 billion in 2017 and is expected to reach USD 15.30 billion in 2023, growing at a CAGR of 5.50% between 2018 and 2023.
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Chemical treatment can be utilized to progress the oxidization performance and hence its appearance in service takes place. Understanding how chemical and mechanical treatments will affect the characteristics of the surface and will enable the best possible result for the client and the structure. The regular feature of chemical treatments is that they all clean the surface. They may also smooth or roughen the surface, or leave it unaffected depending on which process is chosen. The surface treatment is the process whereby the adhered surface is cleaned and/or chemically treated to promote better adhesion. The surface treatment is majorly utilized for treatment of metals and alloys, though not only restricted to metal, but surface treatment are also utilized for treatment of printed circuit boards, which are composed of plastic and metal.
Major driving factors for the growth of chemical surface treatment market are increasing automobile industries and increasing demand for durable and wear-resistant products. Among metal application, the increasing residential and commercial infrastructure is propelling demand for anodized aluminum, which in turn creates strong demand for anodizing chemicals such as degreaser, additives, and etchants in the near future. However, stringent rules and regulations are likely to impede the growth of the market. Furthermore, the global chemical surface treatment market offers new growth opportunities for domestic and global manufacturers during the forecast period, due to expanding industrialization and rising heavy machinery demand in emerging market.
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The global chemical surface treatment market is segmented into plating chemicals, conversion coating, and cleaners. Plating chemicals were the largest type of global chemical surface treatment market in 2017. Owing to rapid industrialization, particularly in rising economies, the demand for these plating chemicals is constantly increasing. Moreover, cleaning chemicals segment of the chemical surface treatments market is projected to grow at highest CAGR during the years to come.
On the basis of end use, the global chemical surface treatment market is segmented into construction, transportation, and general technology. In 2017, transportation segment was the most attractive end use of the global chemical surface treatment market. Almost 30% of the total transportation industry held the highest market share by end use in 2017. Moreover, it is also predicted to be the fastest-growing segment of the market due to the ongoing urbanization, increasing number of vehicles, and improving road infrastructure across the globe is expected to result in improving a number of personal vehicles. Surface treatment chemicals are progressively establishing themselves in several more end employ industries like glass, wood, medical, jewelry, etc. and are predictable to cover a positive growth potential in these industries.
The Asia Pacific dominated the market of chemical surface treatments in 2017 and accounted the significant share of the market. Increasing industrial machinery and electronic components in China, South Korea, and Japan is expected to drive the growth of Asia Pacific chemical surface treatment market during the forecast period. Additionally, India, China, and Thailand have high economic growth rate with the increased number of manufacturing industries in the Asia Pacific region. In GCC and North Africa, the rising industrial machinery and construction sector growth are estimated to produce a sustainable demand for anodizing, paint strippers and corrosion protection chemicals for chemicals surface treatment market. Russia is estimated to project a relatively strong growth and thereby driving the revenue sales of the Eastern Europe surface treatment chemicals market.
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Some of the major players involved in the global chemical surface treatment include Platform Specialty Products Corporation, NOF Corporation, Atotech Deutschland GmbH, Henkel AG & Co. KGaA, Chemetall, Inc., Nihon Parkerizing Co., Ltd., and PPG Industries, Inc., A Brite Company, Advanced Chemical Company, and DOW.
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Chemical Surface Treatment Market Set for Rapid Growth, to Reach USD 15.30 Billion by 2023
Chemical Surface Treatment Market (Plating Chemicals, Conversion Coating and Cleaners) and by End Use (Construction, Transportation, and General Technology): Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023