Surface Treatment Chemicals Market to be worth US$ 8831.83 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Surface Treatment Chemicals Market by Chemical Type (Corrosion Protection Coatings, Cleaners, Anodizing Agents, Passivating Agents, and Others), by Surface Type (Metals, Plastics, and Others), by Application (Automotive Industry, General industry, Industrial Machinery, Coil Industry, Aerospace Industry, and Other), and by Region - Global Trends, Market Share, and Forecast to 2027".

The global surface treatment chemicals market was valued at USD 5,800.5 million in 2020 to USD 8831.83 million by 2027, at a CAGR of 6.19% from 2021 to 2027. Surface treatment chemicals have been witnessing growing demands from the end-use industries such as automotive, aerospace, metal working, coil, glass, wood, ceramics, and industrial machinery. Over the past few years, the market has witnessed various developments such as partnerships, collaborations, agreements, and mergers across the industries between surface treatment chemicals manufacturers/suppliers and enduse industries. For instance, Solvay entered into an agreement with the Honda Aircraft Company in April 2020, for supplying composites and adhesives, such as CYCOM 5276-1 (prepreg) and SURFACEMASTER 905, a lightning strike protection surfacing film, to Honda Aircraft Company for its applications in its business jet HA-420 aircraft.

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Global Surface Treatment Chemicals Market Segmentation

The overall surface treatment chemicals market has been segmented into the chemical type, surface type, application and region.

• By Chemical Type (Corrosion Protection Coatings, Cleaners, Anodizing Agents, Passivating Agents, and Others)
• By Surface Type (Metals, Plastics, and Others)
• By Application (Automotive Industry, General industry, Industrial Machinery, Coil Industry, Aerospace Industry, and Other)
• By Region (US, Mexico, Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Peru, Brazil, Argentina)

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Corrosion protection coatings, by chemical type, is estimated to hold the largest market share during the forecast period

Based on the chemical type, the global surface treatment chemicals market has been segmented into corrosion protection coatings, cleaners, anodizing agents, passivating agents, and others. In 2020, Corrosion protection coatings accounted for the largest market share of 39.66 % in the global surface treatment chemicals market and having a CAGR of 6.05% during the forecast period.

Corrosion protection chemicals account for a significant share in the industrial coatings. Their adoption has been maximum in the surface treatment chemicals market, due to several characteristics such as UV light protection, weathering resistance to chemicals’ spillage and mild industrial atmosphere, abrasion and heat resistance, dimensional stability, improved toughness, and high adhesion to steel structures. The increasing demand for corrosion protection from the oil & gas industry, coupled with high demand for waterborne products (products with low toxicity and flammability), is expected to drive the market in the coming years. Conversion coatings are for the metal surfaces, where the metal is subjected to chemical or electrochemical process by coating substance. Generally, these coatings are applied to metal surfaces to provide corrosion protection and wear resistance as well as to increase paint adhesion. Conversion coatings are most commonly used for aluminum.

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North America accounts for the largest market share during the forecast period

Based on the regions, the global surface treatment chemicals market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America is accounted for the highest market share of 36.37% in the global surface treatment chemicals market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and North America.

The healthy positioning of the country’s automotive and steel industries in the global market has been driving the demand for surface treatment chemicals in Japan. The Ministry of Economy, Trade and Industry (METI) have been pushing the country toward advanced manufacturing processes, which are demanding the use of more and more surface treatment chemicals. Moreover, The India surface treatment chemicals market has been witnessing growing demand from its rising automobile and construction (both residential and commercial) sectors, coupled with the increased adoption of bio-based cleaning chemicals. The rise of the automobile sector could be attributed to the introduction of the 100% Foreign Direct Investment (FDI) policy of the government, which has led to increase in the production and sales of the vehicles, thus increasing the demand for surface treatment chemicals.

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Some of the major companies that operate in the global surface treatment chemicals market are Aalberts Surface Treatment, ALANOD GmbH, Bulk Chemicals Inc., Chemetall GmbH, Henkel AG & Co. KGaA, JCU Corporation, Nihon Parkerizing Co., Ltd., Nippon Paint Holdings Co., Ltd., OC Oerlikon Corporation AG, PPG Industries, Inc., Quaker Chemical Corporation, SOCOMORE, Solvay, SurTec, and The Sherwin-Williams Company.

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Article source: https://article-realm.com/article/Finance/36420-Surface-Treatment-Chemicals-Market-to-be-worth-US-8831-83-million-by-2027.html