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Report ID: CHM0024
Pages: 164
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
MARKET SCOPE:
The global Surface Treatment Chemicals market is projected to grow significantly, registering a CAGR of 4.4% during the forecast period (2024 – 2032).
Surface treatment chemicals refer to a category of chemical formulations designed for application on the surfaces of various materials to enhance their properties, improve performance, or provide specific functionalities. These chemicals are utilized across diverse industries, including manufacturing, automotive, aerospace, construction, electronics, and more. Surface treatment processes involve the application of these chemicals to modify the surface characteristics of materials such as metals, plastics, composites, and concrete. Increasing industrialization and manufacturing activities drive the demand for surface treatment chemicals to enhance the properties of materials used in production. The automotive and aerospace sectors, major consumers of these chemicals, contribute to demand as they expand globally. Growing infrastructure projects globally require surface treatment chemicals for construction materials to ensure durability and longevity. The electronics industry relies on these chemicals for applications such as PCB manufacturing, contributing to overall demand. Ongoing innovations in formulations and the adoption of advanced technologies contribute to increased demand for newer and more effective surface treatment chemicals. The emphasis on environmental compliance and the adoption of sustainable practices drive the development and use of eco-friendly surface treatment chemicals. The production of high-quality and aesthetically pleasing consumer goods relies on surface treatment chemicals, contributing to demand.
MARKET OVERVIEW:
Driver: Growing demand for surface treatment chemicals in construction and building sectors is driving the market growth.
Construction and Building Materials: Surface treatment chemicals are employed in the construction industry for enhancing the durability and performance of building materials. As infrastructure development projects increase globally, the demand for these chemicals rises. Surface treatment chemicals play a crucial role in the construction and building materials industry, contributing to the durability, performance, and overall quality of construction materials. As infrastructure development projects increase globally, the demand for these chemicals rises. Surface treatment chemicals are used to protect reinforced concrete structures from corrosion. These chemicals form a protective layer on the surface, enhancing the durability of the concrete and preventing corrosion of the embedded steel reinforcement. Surface treatment chemicals, such as water repellents and waterproofing agents, are applied to building materials to protect against water ingress. These chemicals help prevent damage caused by water, including cracking, spalling, and deterioration of structures. Surface treatment chemicals are used as adhesion promoters in construction materials. They enhance the bond between new and existing concrete surfaces, improving the overall strength and integrity of construction joints. Surface treatment chemicals contribute to achieving desired concrete surface finishes, enhancing the aesthetic appeal of architectural elements. This is important in both residential and commercial construction projects.
Opportunities: Rising need in automotive sectors is expected to pave the way for the market growth in the upcoming years.
The demand for coatings in the automotive industry is driven by various factors that contribute to the enhancement, protection, and aesthetic appeal of vehicles. Surface treatment chemicals play a crucial role in providing coatings with specific properties that meet the stringent requirements of the automotive sector. Surface treatment chemicals are used to formulate protective coatings that offer corrosion resistance. With vehicles exposed to various environmental conditions, including moisture, road salts, and pollutants, corrosion-resistant coatings are essential to prolong the lifespan of automotive components. Coatings in the automotive industry require excellent adhesion to ensure they adhere effectively to the vehicle’s surfaces. Surface treatment chemicals contribute to formulations that promote strong adhesion, preventing issues such as peeling or flaking over time. Automotive coatings need to withstand harsh conditions, including UV radiation, temperature variations, and mechanical wear. Surface treatment chemicals are utilized to enhance the durability and longevity of coatings, ensuring they maintain their protective and aesthetic properties. Aesthetic appeal is a significant factor in the automotive industry. Surface treatment chemicals contribute to coatings that provide a desired color, finish, and gloss, enhancing the visual appeal of vehicles. Aesthetic considerations are crucial for consumer preferences and brand image. Coatings on vehicles are exposed to sunlight, which can lead to fading and deterioration over time. Surface treatment chemicals are incorporated to provide UV resistance, protecting the coating and maintaining the appearance of the vehicle.
COVID IMPACT:
The COVID-19 pandemic has had various impacts on industries worldwide, including the sector of surface treatment chemicals. Some of the notable effects include disruptions in supply chains, changes in demand patterns, and shifts in manufacturing and construction activities. The pandemic led to disruptions in the global supply chain, affecting the availability of raw materials used in the production of surface treatment chemicals. This, in turn, impacted the manufacturing and distribution of these chemicals. Many industries that extensively use surface treatment chemicals, such as automotive and aerospace, experienced slowdowns or temporary shutdowns in production due to lockdowns and restrictions. This resulted in decreased demand for surface treatment chemicals during certain periods. The construction sector, a significant consumer of surface treatment chemicals, faced delays and disruptions due to the pandemic. Construction projects were halted or postponed, affecting the demand for chemicals used in surface treatments. The automotive industry, a major user of surface treatment chemicals, faced production halts and reduced demand for vehicles. This directly impacted the requirement for surface treatment chemicals used in automotive manufacturing processes. Changes in consumer behavior during the pandemic, such as reduced spending on non-essential goods, impacted industries that utilize surface treatment chemicals. Industries catering to essential products may have seen more stable demand. Economic uncertainties caused by the pandemic may have led to a cautious approach in terms of investments and expansion plans. This could have influenced decisions related to the adoption of surface treatment technologies. The shift to remote work and changes in operational dynamics impacted industries differently. Sectors that could adapt to remote work more easily might have experienced fewer disruptions compared to those relying heavily on physical operations.
SEGMENTATION ANALYSIS:
The Plating Chemicals segment is anticipated to grow significantly during the forecast period
The growth of manufacturing activities, particularly in industries such as electronics, automotive, and aerospace, is driving the demand for plating chemicals. These chemicals are essential for surface finishing and improving the properties of manufactured components. The electronics industry, a major consumer of plating chemicals, is witnessing growth in the Asia Pacific region. With the increasing demand for electronic devices and components, the need for plating chemicals for surface treatment is expected to rise significantly. The automotive sector is a key user of plating chemicals for surface treatment applications such as electroplating. The growth of the automotive industry in the Asia Pacific region is contributing to the increased demand for plating chemicals. Infrastructure development projects, including construction and urbanization, require surface treatment chemicals for applications such as corrosion protection and aesthetic enhancement. The growth of such projects is driving the demand for plating chemicals.
The Metals segment is anticipated to grow significantly during the forecast period
Growing industrialization and manufacturing activities contribute to increased demand for metals. Surface treatment chemicals, including those used for plating and coating, play a crucial role in enhancing the properties of metals, such as corrosion resistance and durability. The automotive and aerospace industries are major consumers of metals, and these sectors are experiencing significant growth in the Asia Pacific region. Surface treatment chemicals are utilized for metal finishing applications, ensuring high-performance and aesthetically pleasing components. The construction and infrastructure sectors, which heavily rely on metals, are witnessing substantial growth in the Asia Pacific region. Surface treatment chemicals are essential for protecting metals against corrosion and ensuring the longevity of structures and components. Metals are integral to the manufacturing of electronic components. Surface treatment chemicals are employed in the electronics and electrical industries to enhance the conductivity, solderability, and overall performance of metal components.
REGIONAL ANALYSIS:
The Asia Pacific region is set to witness significant growth during the forecast period.
Surface treatment chemicals play a crucial role in various industries across the Asia Pacific region, encompassing applications in manufacturing, automotive, electronics, construction, and more. These chemicals are utilized to modify the surface properties of materials, providing functionalities such as corrosion resistance, adhesion promotion, and improved appearance. Surface treatment chemicals are commonly used in metal processing industries to enhance the corrosion resistance and durability of metal components. The Asia Pacific region, with its significant manufacturing base, utilizes these chemicals in sectors such as automotive, aerospace, and machinery. The electronics industry, particularly in countries like China, Japan, South Korea, and Taiwan, extensively uses surface treatment chemicals in PCB manufacturing. These chemicals facilitate proper adhesion and ensure the functionality and reliability of electronic components. Surface treatment chemicals are applied in the automotive industry for processes like paint pretreatment, ensuring proper adhesion and corrosion resistance in vehicle components. The Asia Pacific region is a major hub for automotive manufacturing and assembly. Surface treatment chemicals find applications in the construction sector for concrete treatment. They enhance the durability and resistance of structures to environmental factors, contributing to the longevity of buildings and infrastructure projects in countries like China and India. In industries dealing with plastics and composites, surface treatment chemicals are employed to promote adhesion and improve bonding between different materials. This is particularly relevant in the production of automotive components and consumer goods.
COMPETITIVE ANALYSIS
The global Surface Treatment Chemicals market is reasonably competitive with mergers, acquisitions, and Chemical Type launches. See some of the major key players in the market.
Scope of the Report
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.