BLOOMINGTON, Minnesota, May 9, 2017 /PRNewswire/ --
According to the latest report by BIS Research, titled "Global Surface Treatment Chemicals Market - Analysis and Forecast, 2017-2023", the global surface treatment chemicals market was worth $4.8 billion in 2016 and is expected to reach $8.1 billion by 2023, growing at a CAGR of 7.8% from 2017 to 2023. This rapid evolution of the market is due to the growing demand of surface treatment chemicals in various end-use industries such as automotive industry, general industry, coil industry, industrial machinery, aerospace industry etc. Moreover, the opportunities in emerging economies and increasing industrialisation in APAC region are further fuelling the market growth of surface treatment chemicals.
Browse 72 market data Tables and 97 Figures spread through 268 Pages and in-depth TOC on "Global Surface Treatment Chemicals Market- Analysis and Forecast, 2017-2023"
The surface treatment chemicals market has gained the attention of various industry verticals, making it a dynamic market for key market players. Among different industries which utilize surface treatment chemicals, the automotive industry dominates the market, and is expected to continue its market hegemony in the coming years. Furthermore, aerospace has emerged as a potential market for surface treatment chemicals and is poised to exhibit maximum growth during 2017 to 2023.
According to Monika Sahu, analyst at BIS Research, "The metal segment is acquiring the largest market share in surface treatment chemicals globally, this trend is expected to continue through forecast period. Corrosion protection chemicals are the leading chemical types that have been used in numerous base material (metal, plastic and others). The major types of corrosion protection chemicals currently popular include conversion coatings, which include oxide, phosphate and chromate coatings. Since, there are problems arising in the usage of chromate coatings due to their toxic effects, their use is slowly decreasing with the market trend shifting to more eco-friendly chemicals."
The shift towards eco-friendly chemicals has fuelled varied research and development activities in the industry, with increased investment from key market players. The landscape of the market is highly competitive because of the presence of a large number of companies, and thus, innovation and development by these companies have been a key factor in the significant growth of this market.
The market shift from phosphate to oxide and the increasing demand of eco-friendly chemicals are some of the future trends that are expected to trail in the forecast period.
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This report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments of the market. The report incorporates different segments of global surface treatment chemicals market including market breakdown by base material, chemical type, application and geographical location.
It also features a section on the leading players in the industry, along with their corporate overview, financials, financial summary and SWOT analysis. The report emphasises on the market share and size of automotive industry and general industry, owing to their large scale share in the current and upcoming market of surface treatment chemicals.
It has been observed that the most utilized strategies by various companies for strengthening their hold on the market are product launches and developments, and business expansions followed by mergers & acquisitions, partnerships, agreements and collaborations. To increase their presence in the global market, surface treatment chemical manufacturers are also engaging in strategic partnerships with different distribution networks and e-commerce portals to target a larger consumer base. Some of the key players influencing the market are Henkel AG, Chemetall, Nihon Parkerizing, PPG, Nippon Paint Holdings, Oerlikon Group, JCU Corporation, Derivados Del Fluor, Solvay, McGean Specialty Chemicals, Yuken Industry, PoliteknikMetal, Platform Specialty Products Corp, Quaker Chemical Corporation, Sugest, AHC Oberflächentechnik GmbH and TIB Chemicals.
The report addresses the following questions about the global surface treatment chemicals market:
- What is the global market size of surface treatment chemicals market?
- What are the different base material (metal, plastic and others) treated by surface treatment chemicals? What is their contribution in terms of revenue to the overall surface treatment chemicals revenue?
- What are the different chemical types of surface treatment chemicals? What is their contribution in terms of revenue to the overall surface treatment chemicals revenue?
- What are the different application areas of surface treatment chemicals? What is their contribution in terms of revenue to the overall surface treatment chemicals revenue? Which application will lead the global surface treatment chemicals market by the end of forecast period?
- What are the different factors driving and challenging the global surface treatment chemicals market in the forecast period?
- What are the different opportunities to look for investment in the global surface treatment chemicals market?
- Who are the leading players in the global surface treatment chemicals market? What are the key strategies they have followed to expand their market in surface treatment chemicals business?
- What kind of new strategies are being adopted by established and naive participants to make a mark in the industry?
- Which region will lead the global surface treatment chemicals market by the end of forecast period? Also which country in that specific region will have the largest and smallest market share by value in the forecast period?
- Which end-use industry will find the largest usage of surface treatment chemicals in the forecast period?
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