Overview and Scope
Chemical surface treatment refers to a process applied to the surface of a material to add functions such as rust and wear resistance. The primary objective of surface treatment is to improve corrosion and wear resistance on various types of parts before final assembly and commissioning.
Sizing and Forecast
The chemical surface treatment market size has grown strongly in recent years. It will grow from $14.67 billion in 2023 to $15.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to manufacturing growth, corrosion prevention, metal finishing requirements, electronics and semiconductors, aerospace and defense, aerospace and defense.
The chemical surface treatment market size is expected to see strong growth in the next few years. It will grow to $21.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to smart coatings, rising healthcare infrastructure, high-performance plastics, growing demand for functional coatings, innovations in pre-treatment processes. Major trends in the forecast period include eco-friendly treatment methods, nanotechnology for surface treatment, water-based surface treatment solutions, thermal spray coatings, customization for specific end-use industries.
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Segmentation & Regional Insights
The chemical surface treatment market covered in this report is segmented –
1) By Type: Cleaners, Plating Chemicals, Conversion Coatings, Other Types
2) By Base Material: Metals, Plastics, Other Base Materials
3) By Application: Metals Coloring, Corrosion Inhibitors, Post Treatment, Pretreatments Cleaners, Pretreatment Conditioners, Decorative, Planting, Other Applications
4) By End-User: Building And Construction, Transportation, Aerospace and Defense, Non-Ferrous Metal, Household Appliances
Asia-Pacific was the largest region in the chemical surface treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chemical surface treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising automotive industry is expected to propel the chemical surface treatment market. The growing economy and rising standard of living have changed the purchasing power. While the economic effect of COVID-19 has disrupted the way we live and move around the world, a new way of living is expected to emerge. With social distancing being the best line of defense against COVID-19, there is a sudden increased demand for personal mobility worldwide. Furthermore, climate warming and aspirations to achieve net-zero emissions are driving the global shift to emissions-free motoring. These adoptions also lead to increased production of EV and hybrid vehicles, a change from petroleum products to more locally produced power vehicles. Such a surge in automotive demand has led to increased production and the need for chemical surface treatment to protect the material from corrosion and/or improve its in-use properties. For instance, In April 2022, In a report published by European Automobile Manufacturers Association, In 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase from previous year. Therefore, the rising automotive industry will drive the chemical surface treatment market.
Key Industry Players
Major companies operating in the chemical surface treatment market report are Samsung Electronics Co. Ltd., BASF SE, Hitachi Ltd., Robert Bosch GmbH, Siemens Aktiengesellschaft, United Technologies Corporation, Panasonic Corporation, LG Corporation, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., 3M Company, ABB Ltd, Toshiba Corporation, Fujitsu Ltd., NEC Corporation, Henkel AG & Co. KGaA, Eaton Corporation PLC, Covestro AG, PPG Industries Inc., Solvay S.A., Emerson Electric Company, AkzoNobel N.V., Nippon Paint Co. Ltd., Rockwell Automation Inc., Platform Specialty Products Corporation, NOF Corporation, Atotech Deutschland GmbH, Nihon Parkerizing Co. Ltd., Chemetall GmbH, Hyundai Motor Group, SK Group
The chemical surface treatment market report table of contents includes:
- Executive Summary
- Chemical Surface Treatment Market Characteristics
- Chemical Surface Treatment Market Trends And Strategies
- Chemical Surface Treatment Market – Macro Economic Scenario
- Global Chemical Surface Treatment Market Size and Growth
- Chemical Surface Treatment Market Segmentation
- Chemical Surface Treatment Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Chemical Surface Treatment Market
- Chemical Surface Treatment Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Chemical Surface Treatment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Chemical Surface Treatment Market, Segmentation By Base Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Chemical Surface Treatment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Samsung Electronics Co. Ltd. Financial Performance
Table 76: BASF SE Financial Performance
Table 77: Hitachi Ltd. Financial Performance
Table 78: Robert Bosch GmbH Financial Performance
Table 79: Siemens Aktiengesellschaft Financial Performance
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