The advanced surface treatment chemical market is expected to be worth US$ 9,193.1 Million by end of the forecast period. The market is anticipated to witness a considerable growth rate of 6.3% over the forecast period. Advanced Surface Treatment Chemicals are widely used in various end use industries including automotive, aerospace, construction, packaging and so on. These chemicals are used for different purposes such as surface preparation, corrosion protection, enhanced surface properties and others.
One of the prominent reasons behind using advanced surface treatment chemicals is to protect surfaces from corrosion. These chemicals are primarily employed to protect surface, particularly metals from corrosion. As corrosion can cause damage, loss of functionality and reduced lifespan of the base material, use of surface treatment chemical is necessary.
Apart from the corrosion, they are also used to enhance the adhesion property. Surface treatment chemicals such as adhesion promotors are used to enhance the adhesion or bonding between two surfaces. Applications such as coatings, adhesives, paints, where adhesion is required and crucial for performance and durability, these promotors play a vital role in increasing the adhesion.
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Industries such as automotive, electronics, aerospace and others are key end use industries for these chemicals. Automotive industry is one of the key industries where these chemicals are being used to protect metal components from the corrosion. Car components which are made of metal such as engine parts, car bodies and others, to protect them from corrosion, these chemicals are used.
Advanced Surface Treatment Chemicals play a vital role in automotive industry as they are heavily employed in automotive seating, steering wheels, sound insulation components, interior rims and so on. On the other hand, these are used in the formulations of coatings and adhesives.
Advanced surface treatment chemicals are very crucial in end use industries from food, packaging, construction, automotive to high performance & demanding aerospace industry. These chemicals are also used in aerospace and defense industry, where these are used in different places such as aircraft structural parts, landing gears, turbine blades and others for various purposes.
Key Takeaways from the Advanced Surface Treatment Chemicals Market:
- The Advanced Surface Treatment Chemicals industry in the United States is predicted to reach US$ 1,359.8 million by 2033, increasing at a 5.1% CAGR.
- The Advanced Surface Treatment Chemicals industry in India is estimated to reach a market share of US$ 411.8 million, expanding at a CAGR of 5.6% by 2033.
- During the forecast period, the Advanced Surface Treatment Chemicals industry in China is expected to reach a market share of US$ 2,374.6 million, securing a 4.1% CAGR.
- Germany’s Advanced Surface Treatment Chemicals industry is predicted to achieve a market share of US$ 723.7 million, rising at a 4.6% CAGR during the forecast period.
- With a CAGR of 5.5% from 2023 to 2033, the Automotive Industry is expected to dominate the Advanced Surface Treatment Chemicals industry.
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How Does the Competition Look in the Advanced Surface Treatment Chemicals Market?
The Global Market is competitive in nature, where along with key players, small and medium scale players are also active in the market. Key players active in the market are focusing on the launching of new and customized products for different end use industries for instance aerospace industry. For the particular industry, the chemicals are being formulated as per the requirement as industry is highly demanding and materials used in the industry must comply with the guidelines.
Key market participants are also focused on the expansion of their production capacities to cater the growing demand and also to expand their global reach. Few key players are also establishing their production facilities in East and South Asia Pacific, as these regions have skilled workforce, less regulatory scenarios, relatively less expensive raw materials and other factors.
Few of the key players are also launching new technologies for advanced surface treatment chemicals along with the surface treatment sites. For Instance:
- On November, 2022, BASF inaugurated its largest surface treatment site in Pinghu, China. The Surface Treatment global business unit of BASF’s Coatings division, operating under the Chemetall brand, celebrated the inauguration of its state-of-the-art surface treatment production site in Pinghu City, Zhejiang Province, China. Spanning across 60,000 square meters, the Pinghu site is BASF’s first production site located in the Dushan Port Economic Development Zone and its largest surface treatment site globally.
Key Players in the Market
- NIHON PARKERIZING INDIA PVT. LTD.
- AD International
- Thermax Limited
- BCW Engineering
- Trocellen
- UACJ Corporation
- Henkel AG and Co. KGaA
- Keronite
- Elos Medtech AB
- Surface Technology
- Vantage Specialty Chemicals
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