What is the current size of the Surface Treatment Chemicals market?
The global surface treatment chemicals market size was US$ 7.1 billion in 2021. The global surface treatment chemicals market is forecast to grow to US$ 13.5 billion by 2030, registering a compound annual growth rate (CAGR) of 7.8% during the forecast period from 2022 to 2030.
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COVID-19 impact analysis
- The global surface treatment chemicals market is severely impacted due to the COVID-19 pandemic. The sudden onset of the pandemic is forecast to create a temporary downfall in terms of revenue. It is attributed to the sharp loss in the automotive, transport, and construction industry, which ultimately impacted the global surface treatment chemicals market.
- China and India account for a significant share in the automotive industry. Both the economies witnessed various disruptions and economic downfall. As a result, the global surface treatment chemicals market declined.
- Post pandemic, the global market will recover as the transport, automotive, industrial machinery, electrical & electronics, and construction industries resume the activities.
Factors Influencing the Market
- The demand for long-lasting and wear-resistant products is growing. Thus, it will increase the demand for corrosion-prevention surface treatment chemicals. As a result, the global surface treatment chemicals market will grow tremendously during the study period.
- Growing industrialization will fuel the demand for the surface treatment chemicals market. In addition, a spike in demand for bio-based cleaning chemicals in aerospace, industrial, construction, and others will drive the growth of the surface treatment chemicals market.
- Furthermore, the marine industry is expected to contribute significantly to the surface treatment chemicals market during the forecast period.
- Strict government guidelines related to the high emission rates of volatile organic compounds (VOCs) may limit the growth of the surface treatment chemicals market during the study period.
Regional Analysis
Due to the rising demand for surface treatment chemicals in industrial manufacturing, automotive, and electronics applications, the Asia-Pacific surface treatment chemicals market is expected to develop at a comparatively high rate in terms of both value and volume. The market for surface treatment chemicals in Russia is expected to grow rapidly due to the growing demand for the chemical. In addition, the presence of key automotive manufacturers in the region will significantly contribute to the growth of the market.
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Competitors in the Market
- Platform Specialty Products Corporation
- Atotech Deutschland GmbH
- NOF Corporation
- Henkel AG & Co. KGaA
- Chemetall, Inc.
- PPG Industries, Inc.
- Nihon Parkerizing Co., Ltd.
- Nippon Paint Co. Ltd.
- DOW Chemicals
- Elementis
- Metal Finishing Technologies LLC
- Other prominent players
Market Segmentation
The global surface treatment chemicals market segmentation focuses on Type, Base Material, End-Use Industry, and Region.
Surface Treatment Chemicals Market, By Type
• Cleaners
• Plating Chemicals
• Conversion Coatings
• Others
Surface Treatment Chemicals Market, By Base Material
• Metals
• Plastics
• Others
Surface Treatment Chemicals Market, By End-Use Industry
• Transportation
• Construction
• General Industry
• Industrial Machinery
• Packaging
• Others
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Surface Treatment Chemicals Market, By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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