The global advanced surface treatment chemicals market, as reported by Future Market Insights, reached USD 4,023.7 million in 2018. Over the projection period (2023 to 2033), global sales are expected to exhibit a 6.3% CAGR, ultimately totalling a market size of USD 9,193.1 million by the end of 2033.
Growing utilization of advanced surface treatment chemicals in automotive industry is one of the key factors influencing the market growth. The expansion of the automotive industry will have significant impact on the market. Along with the automotive industry, increasing consumption of these chemicals in other industries including aerospace, electronics, packaging, construction and others is favoring the growth of the market.
Other Drivers Propelling the Demand include:
Challenges for Companies /Manufacturers in the Market:
Opportunities in the Industry:
Latest Trends in the Market:
| Attributes | Details |
|---|---|
| Market Size (2023) | USD 4,990.3 million |
| Market Projected Size (2033) | USD 9,193.1 million |
| Value CAGR (2023 to 2033) | 6.3% |
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From 2018 to 2022, the global market grew at a CAGR of 4.4%, reaching a market size of USD 4,990.3 million in 2023.
In the historic time period, market grew at a slower pace owing to the decreased demand from the key end use industries. The halt on the automotive production resulted in the decreased demand for the surface treatment chemicals, as it is prominent key end use industry for the market.
Also, there were some notable changes in the industry including the focus on the performance enhancement of the chemicals. There has been an increasing emphasis on improving the performance of these chemicals.
During the projected timeframe, the market is anticipated to get lucrative growth opportunities, where industry is projected to grow at a CAGR of 6.3%.
Over the forecast period, the market is expected to be driven by factors including- growth of the end use industries, demand for sustainable solutions, advancements in technologies and compositions of the chemicals, industry specific customizations, growing emphasis on surface engineering and use of advanced STC in emerging applications.
The market is anticipated to gain significant traction from the end use industries. Growing use of these chemicals in new applications will open up the new growth avenues for the market.
| Country | The United States |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 1,359.8 million |
| CAGR % 2023 to End of Forecast (2033) | 5.1% |
The market in the USA is expected to grow at a CAGR of 5.1% during the forecast period. Growth of the end use industries specially automotive and aerospace industries, is anticipated to favor the growth of the market. The USA has prominent position in global aerospace industry.
The surging demand for advanced surface treatment solutions from aerospace industry, is expected to drive the demand. The aviation components market demands high-performance solutions to employ in the aircraft components such as structural parts, engine parts, coatings, landing gears and others.
The country has strong and robust automotive industry, which is a key end user for the surface treatment solutions. As the industry expands, so does the demand for surface treatment chemicals soars.
| Country | India |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 411.8 million |
| CAGR % 2023 to End of Forecast (2033) | 5.6% |
The industry in India is expected to touch USD 411.8 million, expanding at a CAGR of 5.6% during the forecast period. The Indian market offers immense growth potential to this industry. Government Initiatives such as Make in India, favorable economic conditions, rapidly growing end use industries all are the crucial factors which will influence the market growth.
With the growing population of country and disposable income, the automotive industry is witnessing surge in sales, which in turn will boost up the sales of these chemicals.
| Country | China |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 2,374.6 million |
| CAGR % 2023 to End of Forecast (2033) | 4.1% |
With a projected market value of USD 2,374.6 million and a CAGR of 4.1%, the industry in China is poised for significant growth in the coming years. Advanced STC industry is a vibrant industry in China.
China is known as manufacturing powerhouse and has dominant place in exporting countries. Country has robust supply chain and presence of domestic as well as international market players.
China holds strong position in automotive as well as in electronics market. The growing use of surface treatment chemicals in Electronics industry for cleaning, etching, surface preparation and others, will bolster the demand for these chemicals.
| Country | Germany |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 723.7 million |
| CAGR % 2023 to End of Forecast (2033) | 4.6% |
The Advanced STC market is expected to grow at a CAGR of 4.6% during the forecast period in Germany. Germany is renowned for its strong automotive industry, which demands high-performance surface treatment solutions.
The growth of the industry directly impacts the advanced STC market as they are crucial in achieving aesthetic finish of the vehicle, cleaning, providing corrosion protection and others.
Along with this, country has strong aerospace and defense industry, requiring suitable solutions for its components for enhanced performance. All these factors, are key driving factors for the market in Germany.
The market is expected to gain significant traction from the aerospace and defense industry. Advanced STC are being used from food to aerospace industry. The aerospace industry is very dynamic and demanding industry. The chemicals and materials used in the aerospace and defense sector must be accurate and comply with regulations.
Aircraft components are quite valuable and it’s very important to maintain the characteristics, as they are very prone to metal fatigue and damages. Hence, the chemicals must be accurate so that they can bear the challenging environmental conditions.
These chemicals are applied to different components of the aircraft, such as turbine blades, landing gears, wheels, engine parts, structural parts to perform certain functions. The rapidly growing aerospace industry demands high-performance solutions. The growth of the industry and demand for high-performance solutions will benefit the market growth.
Automotive industry is one of the key end user for the advanced STC market. Surface treatment is crucial step in the automotive industry. Metals such as steel, iron, aluminum are used in automobile manufacturing. These metals require surface treatment for different purposes such as corrosion resistance, thermal insulation, electrical insulation, aesthetic appeal and others.
A variety of metal mix in automotive components require suitable surface treatment solutions. Also, the regulatory scenarios and certifications are other factors forcing key players to modify products and launch innovative materials in the market. Considering all the above factors, the automotive industry is anticipated to remain the biggest demand generator during the forecast period.
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The market is competitive in nature, where some of the key players are present in the market along with the small and medium scale players. The market has presence of several china based players, who are offering products at relatively cheap prices.
Key Strategies Adopted by the Players
Research and Development
Market leaders in the advanced surface treatment chemical industry have placed a strong emphasis on research and development initiatives. Substantial investments in such activities have been allocated to drive innovation and maintain a competitive edge. These strategic efforts enable key players to explore new avenues, resulting in the introduction of cutting-edge and inventive products.
Expansion of Production Facilities
Key players are putting efforts on expansion of their production capacities to cater the growing demand for advanced surface treatment chemicals. Few of the key players are expanding their production capacities in Asian countries, to get extra advantages of cost, installation, raw materials, and favorable economic conditions and so on.
Industry Specific Customization
Key manufacturers can relish lucrative opportunities by introducing unique and innovative products in the market as per the requirements from end use industries. Industry specific customization and specific solutions will give extra edge to the competitors.
Key Players in the Market
The 2023 market value is USD 4,023.7 million
The market will flourish at a 6.3% CAGR through 2033.
The market rose at a 4.4% CAGR from 2018 to 2022.
Key players are NIHON PARKERIZING INDIA PVT. LTD., AD International, and Thermax Limited
The market will reach USD 9,193.1 million in 2033.
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Advanced Surface Treatment Chemical Market
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