Global Surface Treatment Chemicals Market Report to 2031 - Rapid Expansion of Several End-Use Industries across Major Regions is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--

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.

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

Companies Mentioned

• Solvay S.A.
• Henkel AG & Co. KGaA
• Nippon Paint Holdings Co., Ltd.
• OC Oerlikon Management AG
• PPG Industries, Inc.
• Quaker Chemical Corporation
• The Sherwin-Williams Company
• Nihon Parkerizing Co., Ltd.
• ALANOD GmbH & Co. KG
• Bulk Chemicals Inc.
• Chemetall GmbH
• Aalberts Surface Technologies
• NOF CORPORATION
• Atotech
• JCU CORPORATION
• Element Solutions Inc
• Trion Coatings, LLC
• ChemTech Surface Finishing Pvt. Ltd.
• YUKEN Surface Technology, S.A. de C.V.
• IONICS

Market Segmentation

Segmentation 1: by End User

• Automotive
• Construction
• Aerospace
• Electrical and Electronics
• Coil Industry
• Packaging Industry
• Others

The automotive segment is expected to be the largest among various end users during the forecast period (2022-2031).

Segmentation 2: by Base Material Type

• Metals
• Plastics
• Others

Among different base materials, metals are anticipated to lead the global surface treatment chemicals market during the forecast period (2022-2031).

Segmentation 3: by Chemical Type

• Corrosion Protection Chemicals
• Cleaners
• Anodizing Agents
• Passivating Agents
• Others

Among different chemical types, corrosion protection chemicals are anticipated to lead the market during the forecast period (2022-2031).

Segmentation 4: by Treatment Method

• Electroplating
• Chemical Treatment
• Thermal Spraying
• Hot Dipping
• Others

Among different treatment methods, electroplating is anticipated to lead the global surface treatment chemicals market during the forecast period (2022-2031).

Segmentation 5: by Region

• North America - U.S., Canada, and Mexico
• Europe - Germany, France, Italy, Spain, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific and Japan
• Middle East and Africa - Saudi Arabia, South Africa, and Rest-of-Middle East and Africa
• South America - Brazil, Argentina, and Rest-of-South America

Asia-Pacific and Japan is expected to lead the global surface treatment chemicals market throughout the forecast period, owing to rapidly increasing automobile demand and a rising prevalence of construction projects across various developing markets.

For more information about this report visit https://www.researchandmarkets.com/r/7hcwci

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