Major players in the chemical surface treatment market are Platform Specialty Products Corporation, Atotech Deutschland GmbH, Nippon Paint Co Ltd., Nihon Parkerizing Co Ltd., NOF Corporation, Henkel AG & Co KGaA, Chemetall Inc.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Chemical Surface Treatment Global Market Report 2023" - https://www.reportlinker.com/p06424025/?utm_source=GNW
, PPG Industries, Solvay SA, Element Solutions Inc.,, Advanced Chemical Company, Houghton International Inc., OC Oerlikon, McGean-Rohco Inc., JCU CORPORATION, Quaker Chemical Corporation, BASF SE, Metal Finishing Technologies LLC, Raschig GmbH, Wuhan Jadechem International Trade Co. Ltd and Aalberts Surface Treatment GmbH.
The global chemical surface treatment market grew from $13.69 billion in 2022 to $15.32 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The chemical surface treatment market is expected to grow to $19.59 billion in 2027 at a CAGR of 6.3%.
The chemical surface treatment market includes revenues earned by entities by anodizing solution, paint strippers, passivation, pickling, and anti-corrosion.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Chemical surface treatment refers to a process applied to the surface of a material to add functions such as rust and wear resistance. The primary objective of surface treatment is to improve corrosion and wear resistance on various types of parts before final assembly and commissioning.
Asia-Pacific was the largest region in the chemical surface treatment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chemical surface treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of chemical surface treatment are cleaners, plating chemicals, conversion coatings, and other types.The cleaners type of chemical surface treatment are types of cleaners comprised of various chemicals and substances.
Cleansers are used to remove impurities like grease or oil from surfaces like those of mechanical parts or industrial machinery. They also clean or sterilize equipment in laboratories, cleanrooms, and similar settings. The chemical surface treatment base materials are metals, plastics, and others base materials, that are applied on metals coloring, corrosion inhibitors, post treatment, pretreatments cleaners, pretreatment conditioners, decorative, planting, and other applications, used by building and construction, transportation, aerospace and defense, non-ferrous metal, and household appliances
The rising automotive industry is expected to propel the chemical surface treatment market.The growing economy and rising standard of living have changed the purchasing power.
While the economic effect of COVID-19 has disrupted the way we live and move around the world, a new way of living is expected to emerge.With social distancing being the best line of defense against COVID-19, there is a sudden increased demand for personal mobility worldwide.
Furthermore, climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring.These adoptions also lead to increased production of EV and hybrid vehicles, a change from petroleum products to more locally produced power vehicles.
Such a surge in automotive demand has led to increased production and the need for chemical surface treatment to protect the material from corrosion and/or improve its in-use properties. For instance, In April 2022, In a report published by European Automobile Manufacturers Association, In 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the rising automotive industry will drive the chemical surface treatment market.
Technological advancements have emerged as the key trend gaining popularity in the chemical surface treatment market.The advanced surface coating treatment helps to protect against wear-prone applications.
They are intended to be wear-resistant, reduce friction, and protect against caustic/acidic materials and cleaning agents to improve line efficiencies.Major companies operating in the chemical surface treatment sector are focused on developing new technological solutions to meet customer demand.
For instance, In January 2022, ABB, a Switzerland-based automation company, launched low voltage flameproof motors for explosive environments.The advanced surface treatment on ABB’s low voltage flameproof motors makes them resistant to even the harshest environmental conditions.
The motors are built with a strong frame and integrated feet for rigidity and vibration-free operation in foot-mounted applications.
In January 2022, MacDermid Enthone Industrial Solutions, a US-based manufacturer of chemical compounds used in surface finishing applications, acquired HSO Herbert Schmidt GmbH & Co. KG. for an undisclosed amount. This acquisition contributes to the ongoing efforts to provide solutions for a sustainable future to customers, industry, and markets. HSO Herbert Schmidt GmbH & Co. KG. is a Germany-based manufacturer of innovative specialty chemicals for electroplating.
The countries covered in the chemical surface treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The chemical surface treatment market research report is one of a series of new reports that provides chemical surface treatment market statistics, including chemical surface treatment industry global market size, regional shares, competitors with a chemical surface treatment market share, detailed chemical surface treatment market segments, market trends and opportunities, and any further data you may need to thrive in the chemical surface treatment industry. This chemical surface treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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