PUBLISHER: The Business Research Company | PRODUCT CODE: 1644001
PUBLISHER: The Business Research Company | PRODUCT CODE: 1644001
Metal surface treatment chemicals refer to chemicals that are essential in enhancing the properties of metal surfaces, providing benefits such as corrosion resistance, improved adhesion for coatings and increased durability. This type of surface treatment uses chemical processes to specifically change the chemical composition and surface structure of a material.
The metal surface treatment chemical market consists of sales, by entities (organizations, sole traders and partnerships), of metal surface treatment chemicals that are used to treat metal to improve or change its mechanical, chemical or optical properties. The surface treatment of metal is an essential part of the production process. Metal surface treatment is a process where metal parts are prepared for painting. The preparation is commonly referred to as coatings pretreatment. This usually involves creating a physical barrier that will protect metal against a corrosive environment.
The global metal surface treatment chemical market was valued at $3,511.84 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.00%.
Rise In Industrialization
The rise in industrialization fueled the growth of the metal surface treatment chemical market during the historic period. Industrialization refers to the process of transforming an economy from primarily agricultural to one based on manufacturing and industry. Industrialization is fueled by technological advancements, urban expansion, growing global trade and supportive government policies. This growth drives demand for metal surface treatment chemicals to improve the durability and efficiency of machinery, tools and industrial components. For example, according to the data provided by the Ministry of Statistics and Program Implementation (MoSPI), India's Index of Industrial Production (IIP) (factory output growth measured in terms of IIP) was recorded at 11.7% in October 2023 as compared to 5.1% in December 2022. During April-December 2023-24, the IIP growth works out to be 6.1%, up from 5.5% in the corresponding period a year ago. Further, according to Take Profit, a community-driven trading platform, industrial production in Australia increased by 1.59% in the second quarter of 2023 over the same quarter in 2022. In the USA, for the second quarter of 2024 as a whole, industrial production increased at an annual rate of 4.3%. Therefore, the rise in industrialization drove the growth of the metal surface treatment chemical market.
Chromium-Free Treatments Enhance Sustainability And Efficiency In Metal Treatment
Major companies operating in the metal surface treatment chemical market are focusing on developing innovative solutions such as chromium-free surface treatments to enhance sustainability and efficiency in metal surface treatment processes by combining passivation and pretreatment in a single step. Chromium-free surface treatment eliminates hexavalent chromium in metal processing, enhancing safety and environmental sustainability while maintaining corrosion resistance. For instance, in July 2024, Henkel Adhesive Technologies, an India-based adhesives, sealants and functional coatings provider, launched Bonderite M CR 1405, a chromium III-based surface treatment agent that combines metal passivation and pretreatment in a single step. This innovative solution reduces process steps, energy and water consumption, aligning with sustainability goals. By eliminating the need for separate cleaning stages, it enhances efficiency while ensuring high corrosion resistance and compliance with restriction of hazardous substances (RoHS) directives.
The global metal surface treatment chemical market is fairly fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 13.39% of the total market in 2023.
Metal Surface Treatment Chemical Global MarketOpportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the metal surface treatment chemical market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for metal surface treatment chemical? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The metal surface treatment chemical market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider metal surface treatment chemical market; and compares it with other markets.
Global Market Size And Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.