Surface Treatment Chemicals Market : Growth Opportunities, Driving Factors by Manufacturers, Regions, Type and Application, Forecast Analysis to 2023

Pune, India -- (SBWire) -- 05/25/2018 --Industry Latest News:

June 2016- BASF SE, a leading manufacturer of specialty chemicals announced to acquire Albemarle's Chemetall. The company close the deal with USD 3.2 billion and acquire leading global surface treatment business for aerospace and auto industries. This deal will help company to strengthen its position among the surface treatment chemical manufacturers.

December 2017- BASF SE announced that their coating division operate as Chemetall brand will expand their manufacturing site in Langelsheim, Germany. This production capacity expansion will offer Chemetall enhanced scope and manufacturing of their aircraft sealants. This capacity expansion will help company to meet the rising demand from aerospace industry.

Surface Treatment Chemicals Market – Overview

Surface Treatment Chemicals which are used to change surface properties and are mainly utilized in various end use application such as industrial machinery, automotive & transportation, construction and others. The market is projected to witness significant growth due to their utilization in various end use industries specifically in building & construction, industrial machinery, and automotive industry. On the basis of the end use application segment, automotive & transportation is anticipated to register strong growth followed by industrial machinery on account of rising consumer's disposable income coupled with expanding automotive industry in developing countries across the globe. Furthermore, growing automotive and other transportation manufacturing base in emerging economies coupled with burgeoning need for high quality Surface Treatment Chemicals is expected to fuel the growth of the market over the estimated period.

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Geographically, Asia Pacific accounted for the largest market share for Surface Treatment Chemicals in 2016, followed by Europe which is further trailed by North America. The North American Surface Treatment Chemicals Market is anticipated to witness above average growth over the forecast period owing to substantial growth of marine and construction industry in this region. In North America, the market is further classified into Canada and the U.S., among these the U.S. is projected to hold key regional market share of Surface Treatment Chemicals owing to strong presence of key manufacturers in this region. Asia Pacific is predicted to witness tremendous growth over the assessment period in Surface Treatment Chemicals Market during 2017 to 2023. The demand for Surface Treatment Chemicals is predicted to raise in several countries of Asia Pacific such as South Korea, the Philippines, Japan, Indonesia, Malaysia, Taiwan, India, and China on account of growing population coupled with shifting of manufacturing base for most of the matured market players in this region. In Europe, Surface Treatment Chemicals Market is anticipated to register above average growth on account of shifting consumer preference towards the Surface Treatment Chemicals based products along with high adoption rate in various end use industries specifically in Poland, Italy, UK, Germany, Spain, and Russia. Furthermore, numerous countries of the Middle East & Africa and Latin America are expected to witness steady growth in surface treatment chemicals owing to increasing per capita disposable income combined with sales of Surface Treatment Chemicals based product specifically in Venezuela, Mexico, Argentina, and Brazil along with growing institutional, commercial, and residential construction activities specifically in Turkey, Qatar, Oman, Israel, Saudi Arabia, Kuwait, and the UAE.

Competitive Landscape

The Surface Treatment Chemicals report has analysed the level of competition among the key operating players in surface treatment chemicals market as well as sector growth and market scenario. The Global Surface Treatment Chemicals Market composed of large number of suppliers operating in the market which includes large scale and medium scale manufacturers. The noticeable manufacturers of Surface Treatment Chemicals and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from South Korea, Indonesia, India, Bangladesh, China, Thailand, the Philippines, Taiwan, Singapore, Malaysia, Australia, and Japan. Furthermore, the major manufacturers of surface treatment chemicals are observed to follow various strategic plans to improve their product portfolio such as distribution agreements, joint ventures, product launches, strategic acquisition and mergers, and exclusive agreements. Various major operating players in this market are expected to expand their manufacturing capacity of Surface Treatment Chemicals to meet the rising demand for Surface Treatment Chemicals across the globe.

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