Chemical Surface Treatment Market Size – USD 12.42 Billion in 2019, Chemical Surface Treatment Market Growth – CAGR of 5.2%
NEW YORK CITY, NEW YORK, UNITED STATES, March 27, 2020 /EINPresswire.com/ — The Global Chemical Surface Treatment Market is forecast to reach USD 18.76 Billion by 2027, according to a new report by Reports and Data. The development of the utility of chemical treatment on materials affects their quality standards. This enables a wide array of consumers to resort to this market to get their target structure reinforced. The common feature of these chemical treatments is the cleaning of the surface. Apart from cleansing, these chemicals can subject a surface to certain aberrations, like roughening or smoothening, or have no effect with respect to the procedure chosen. These procedures are generally followed in order to achieve superior adhesive properties and can be utilized in wide orientation, not only on metals but also on printed circuit boards.
The market for chemical surface treatment is influenced by the rising demand for durable and wear-resistant products. For utility on metals, the utility on global and domestic manufacturers is increasing. Anodized aluminum is under high demand, which created a vacuum in the field of chemicals like degreasers and etchants. These chemicals are being utilized in different fields as well, like, glass, wood, medical, and jewelry, among others.
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The mentioned factors create opportunities for market growth, while factors such as stringent government policies regarding high emission rates of volatile organic compounds curtail the growth of the market. However, these factors would have a definite impact on the market during the forecast period, which would be overcome with further research in the chemicals industry for using environment-friendly coatings.
The growth in the region of Asia Pacific has been estimated to be the highest. Most of the developing countries are looking at India and China as global market leaders. These countries consist of various end-use industries such as transportation, electrical & electronics, construction, and industrial machinery, and the application of the chemical surface coating in this region will grow at a very high rate.
Further key findings from the report suggest
• The transportation market held the largest market share of nearly 30% in the year 2019. Hence, the automotive industry is experiencing significant growth in the forecast period. The use of chemical coating in the automobile industry is a trend in the present scenario for maintaining aesthetics and the quality of exteriors.
• Plating chemicals are the chief revenue generators of the chemical surface coating market, holding a revenue of over USD 4.18 Billion by the year 2019. These are done through the procedure of galvanization or catalytic plating to ensure superior tensile strength.
• Cleaning chemicals are projected to grow with the highest CAGR of 5.5% through the forecast period. They are witnessing a high demand because of their efficiency over traditional cleaners.
• The sub-segment of plastics under base material is observed to grow at the highest CAGR of 5.4% throughout the forecast period owing to its demand in the industry verticals. Its booming utility in automotive as well as general industry is because of its lightweight and better chemical resistance over metals.
• Asia Pacific is expected to grow with a significant CAGR of 5.4% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the chemical surface coating market.
• Key participants include Platform Specialty Products Corporation, NOF Corporation, Atotech Deutschland GmbH, Chemetall Inc., Henkel AG & Co. KGaA, Nihon Parkerizing Co. Ltd., A Brite Company, Advanced Chemical Company, PPG Industries Inc., and DOW, among others.
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For the purpose of this report, Reports and Data has segmented the Global Chemical Surface Treatment market on the basis of chemical type, base material type, end-users, and region:
Chemicals Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• Plating Chemicals
• Conversion Coating
Base Material Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
End-User Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• General Industry
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Source: EIN Presswire