Dublin, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The "Surface Treatment Chemicals Market - A Global and Regional Analysis: Focus on End User, Chemical Type, Base Material Type, Treatment Method, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global surface treatment chemicals market is projected to reach $11,889.2 million by 2031 from $5,623.3 million in 2021, growing at a CAGR of 8.0% during the forecast period 2022-2031.
The demand for surface treatment chemicals is anticipated to grow with the increasing demand from the end-user industries such as automotive, construction, electricals and electronics, aerospace, and others.
Furthermore, it is anticipated that during the projected period (2022-2031), the increasing adoption of chemicals in the automotive industry and the expansion of construction projects in several emerging economies, including China, India, and Thailand, are expected to further fuel the advancement of the global surface treatment chemicals market.
However, the rigorous environmental standards regarding the emission of hazardous compounds are anticipated to hinder market growth in the upcoming future.
Market Lifecycle Stage
The global surface treatment chemicals market is in the growth phase. Increased investment and research and development activities are expected to boost the market. Furthermore, due to high demand from the end-user industries and rising public concern, government regulations related to hazardous chromium component emissions are expected to increase the demand for eco-sustainable chemicals, thereby bolstering the global surface treatment chemicals market.
Moreover, the global surface treatment chemicals market is expected to benefit from the growing implementation of chemicals over etchants, facilitating workflow, which promotes market expansion. The requirement for surface treatment chemicals is being stimulated by heavy machinery advancement as well.
Industrial Impact
- Surface treatment chemicals continue to improve the toughness, rust and weathering resistance, aesthetics, and durability of the materials to which they are applied. As a result, these materials are getting prominence in a variety of industries, including automotive, construction, aerospace, and electricals and electronics. One area where implementation has been significantly greater is the automotive industry, which has created opportunities for both existing market participants and market entrants.
- Furthermore, surface treatment chemicals have a moderate to high impact on end-user industries; however, in the upcoming future, with increased production of automotive, aerospace, and other applications, the impact is anticipated to increase.
Impact of COVID-19
COVID-19 had an immediate and significant impact on the global surface treatment chemicals market because of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market.
The lockdowns imposed by the governments significantly reduced raw material productivity due to a shortage of operations in many regions throughout the world. The automotive, aerospace, and other end-user sectors have been in a slowdown for the last couple of years. The global demand for surface treatment chemicals has been severely impacted by these market downturns in the end-user industries. However, the market is anticipated to recover and is expected to rise gradually over the forecast period.
Recent Developments in the Global Surface Treatment Chemicals Market
- In September 2021, Henkel demonstrated advanced coating technologies for electric vehicle (EV) battery production and aluminum pre-treatment for automobile exteriors at SURCAR 2021. Aluminum's strong protection against corrosion and thermoelectric conductance greatly enhance reprocessing. Henkel, a pioneer in adhesives, lubricants, and functional coatings for the automobile industry, facilitates a wider utilization of aluminum for enhanced quality, ecology, and operational effectiveness.
- In February 2022, PPG announced the acquisition of Arsonsisi, the powder coatings division. Arsonsisi is a prominent exporter of residential and commercial specialized powder coatings. The acquisition allows PPG to broaden its powder coatings portfolio in Europe, the Middle East, and Africa (EMEA). It also includes metallic bonding, one of the fastest expanding areas for powder coatings that are frequently utilized in specialized treatments for automobile, household, and general industrial uses.
- In October 2021, Aalberts Surface Technologies GmbH announced a complete collaboration with Hoeller Electrolyzer GmbH in the domain of extremely effective electrolyzer surface treatment. The collaboration's objective was to substantially lower the expense of hydrogen generation while also increasing its accessibility. The extremely effective protracted coatings will be sprayed on in-line machines for massive yields in Lubeck, allowing Hoeller exposure to Europe's constrained manufacturing capacity.
Demand - Drivers and Limitations
Following are the demand drivers for the global surface treatment chemicals market:
- Rapid Expansion of Several End-Use Industries across Major Regions
- Introduction of Surface Treatment Chemical to Minimize the Impact of Infections
- Increasing Adoption of Plating Process for Metal Industries
The market is expected to face some limitations as well due to the following challenges:
- Rigorous Environmental Standards Regarding the Emission of Hazardous Chromium Components
- Price Volatility of Surface Treatment Chemicals
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.3 Startup Landscape
2 Application
3 Products
4 Regions
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis of Key Companies
5.2 Company Profiles
5.2.1 Solvay S.A.
5.2.1.1 Company Overview
5.2.1.1.1 Role of Solvay S.A. in the Global Surface Treatment Chemicals Market
5.2.1.1.2 Product Portfolio
5.2.1.1.3 Production Sites
5.2.1.2 Business Strategies
5.2.1.2.1 Product Developments
5.2.1.3 Corporate Strategies
5.2.1.3.1 Partnerships, Collaborations, and Joint Ventures
5.2.1.4 R&D Analysis
5.2.1.5 Analyst View
5.2.2 Henkel AG & Co. KGaA
5.2.3 Nippon Paint Holdings Co., Ltd.
5.2.4 OC Oerlikon Management AG
5.2.5 PPG Industries, Inc.
5.2.6 Quaker Chemical Corporation
5.2.7 The Sherwin-Williams Company
5.2.8 Nihon Parkerizing Co., Ltd.
5.2.9 ALANOD GmbH & Co. KG
5.2.10 Bulk Chemicals Inc.
5.2.11 Chemetall GmbH
5.2.12 Aalberts Surface Technologies
5.2.13 NOF CORPORATION
5.2.14 Atotech
5.2.15 JCU CORPORATION
5.2.16 Element Solutions Inc
5.2.17 Trion Coatings, LLC
5.2.18 ChemTech Surface Finishing Pvt. Ltd.
5.2.19 YUKEN Surface Technology, S.A. de C.V.
5.2.20 IONICS
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/rmnhok
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