VANCOUVER, BC, Oct. 22, 2020 /PRNewswire/ -- The Global Surface Treatment Chemicals Market is forecast to be worth USD 19.90 Billion by 2027, according to a current analysis by Emergen Research. The market is witnessing growth owing to the rising demand for durable and wear-resistant products. These chemicals are used in different fields, such as wood, glass, jewelry, medical, and others. The product is widely used in automotive coatings. As the automotive sector is growing, surface treatment chemicals are also witnessing an increased growth.
Growth in industrialization has also impacted market demand. The heavy machinery requires constant protection, and manufacturers plate them with surface treating chemicals to protect them from rust and other issues.
Surface treatment has several benefits and extension in the life of mold and tools. The chemicals can help reduce the plant downtime, pay for expensive repair and maintenance, and enhance process performance. Factors such as strict regulations regarding high emission rates of volatile organic compounds will limit the growth of the market.
Growth in concerns regarding the effects of chemical surface treatment has led to the shift from chemicals to bio-based (green) products to abide by the regulations brought into the industry. This will impact the market negatively. However, the use of surface treating chemicals in construction for commercial as well as residential infrastructure will provide ample growth opportunities.
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Key Highlights from The Report
- In July 2020, AFFIX Labs launched a long-lasting surface treatment chemical to kill the COVID-19-causing virus. Si-Quat combines a safe and long-standing disinfectant and chemical bonding technique to kill active viruses such as SARS-CoV-2.
- Plating chemicals are done through a process of catalytic plating or galvanization to ensure a strong and superior tensile strength. It is a chief revenue generator, forecast to generate a revenue of USD 7.42 billion in 2027.
- In the industrial sector, surface treatment of plastic is not an uncommon process. Innumerable plastics are treated with the chemicals for enhanced wettability leading to proper adhesion of inks, paints, and coats.
- The transportation sector held the largest market share as the industry is experiencing significant growth. The usage of surface treatment chemical coating in the automotive industry is a trend that helps in maintaining the aesthetics and quality of exteriors of the vehicle.
- The Asia Pacific region is forecast to grow with a CAGR of 6.6% during the forecast period. Countries such as China, Japan, and India are growing rapidly in the automotive and industrial sectors, which is augmenting the demand for surface treatment chemicals product in the region.
- Key participants include NOF Corporation, Platform Specialty Products Corporation, Chemetall Inc., Atotech Deutschland GmbH, Henkel AG & Co. KGaA, A Brite Company, Nihon Parkerizing Co. Ltd., PPG Industries Inc., Advanced Chemical Company, and DOW, among others.
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For the purpose of this report, Emergen Research has segmented the Global Surface Treatment Chemicals Market on the basis of chemical type, base material type, industry vertical, and region:
- Chemical Type Outlook (Revenue, USD Billion; 2017-2027)
- Plating Chemicals
- Conversion Coating
- Base Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Industry Vertical Outlook (Revenue, USD Billion; 2017-2027)
- General Industry
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
5. Rest of Europe
- Asia Pacific
3. South Korea
4. Rest of APAC
- Latin America
2. Rest of LATAM
- Middle East & Africa
1. Saudi Arabia
3. Rest of MEA
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SOURCE Emergen Research