17-Sep-2018 | Zion Market Research
With the presence of a large pool of participants, the global chemical surface treatment market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Platform Specialty Products Corporation, PPG Industries, NOF Corporation, Atotech Deutschland GmbH, and Henkel AG & Co. KGaA are some of the key vendors of chemical surface treatment across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the chemical surface treatment market study.
This review is based on a report by Zion Market Research, titled “Chemical Surface Treatment Market (Plating Chemicals, Conversion Coating, and Cleaners) and by End-Use (Construction, Transportation, and General Technology): Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023.”- Report at http://www.zionmarketresearch.com/report/chemical-surface-treatment-market
Citing an instance, in December 2017 a research paper was published in journal ACS Biomaterials Science & Engineering. The paper displayed that through the application of electrochemical etching process on a common stainless steel alloy, researchers from Georgia Institute of Technology created a nanotextured surface that eliminates bacteria and enhances corrosion resistance, while not harming mammalian tissues.
As estimated in this report, the global chemical surface treatment market stood at US$ 11.09 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this chemical surface treatment market is expected to reach US$ 15.30 billion by the end of the forecast period. The main chemical surface treatment types available in this market are plating chemicals, conversion coating, and cleaners. Among the three, the demand for plating chemicals is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Extensive Use of Chemicals For Treating Surfaces Will Spur Market Revenue
“Massive demand for durable and wear-resistant products along with myriad application of chemicals across automotive sector for surface treatment will boost the expansion of chemical surface treatment market size in the years ahead,” says the author of this study. Apart from this, wide application of anodizing aluminum in residential and commercial sectors for improving their infrastructure will further propel the scope of chemical surface treatment market over the upcoming years.
Stern legislations pertaining to use of chemicals for surface treatment, however, is likely to hinder the growth of chemical surface treatment market in the ensuing years. Nonetheless, rapid industrialization along with huge demand for heavy equipment in developing economies is expected to result in the meteoric expansion of chemical surface treatment market during the forecast timeline. This, in turn, will normalize the impact of hindrances on the chemical surface treatment market, reports the study.
Huge Demand for Industrial Machinery & Electronic Parts To Kindle Growth
Regionally, Asia Pacific has been leading the worldwide chemical surface treatment market and is anticipated to continue on the dominant position in the years to come, states the chemical surface treatment market study. Lucrative demand for industrial equipment as well as electronic parts in countries such as China, Japan, and South Korea is the main factor behind the dominance of the Asia Pacific chemical surface treatment market. In addition, rise in the number of manufacturing industries in countries such as India, Thailand, and China will further contribute towards the growth of this regional chemical surface treatment market.
The global chemical surface treatment market is segmented as follows:
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