The report "Chemical Surface Treatment Market by Chemical Type (Cleaners, Plating Chemicals, Conversion Coatings), Base Material (Metals,Plastics), End-use Industry (Transportation, Construction, General Industry), and Region - Global Forecast to 2022", The chemical surface treatments market is projected to grow from USD 11.18 Billion in 2017 to USD 14.74 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022.
The growth of the chemical surface treatments market across the globe is fueled by the increasing use of chemical surface treatments in various end-use industries to reduce corrosion of materials as well as enhance properties of base materials that include their appearance, wettability, tarnish resistance, wear resistance, electrical conductivity, electrical resistance, reflexivity, torque tolerance, hardness, and chemical resistance. Moreover, the rising Gross Domestic Product (GDP), growing global population, and improving economic conditions of various countries of the world are factors expected to fuel the demand for consumer appliances across the globe, which, in turn, is expected to contribute to increased demand for chemical surface treatments.
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The plastics base material segment is projected to lead the chemical surface treatments market during the forecast period.
The plastics base material segment is projected to lead the chemical surface treatments market between 2017 and 2022. Plastics are replacing metals in various industries such as transportation and general industry, owing to various advantages offered by them that include lower costs, lower maintenance requirements, simplified designs, lightweight, and better chemical resistance over metals. Due to these properties, several end-use industries consider plastics more sustainable option than metals.
The transportation end-use industry segment led the chemical surface treatments market in 2016.
chemical surface treatments are used in various end-use industries such as transportation, general industry, industrial machinery, construction, packaging, and others. The transportation end-use industry led the chemical surface treatments market in 2016. The growth of this segment of the market can be attributed to the increased use of these chemicals in surface treatments of shock absorbers, heat sinks, gears, cylinders, and capacitors.
The Asia Pacific region is projected to lead the chemical surface treatments market between 2017 and 2022.
The Asia Pacific region is projected to lead the chemical surface treatments market during the forecast period. Moreover, the Asia Pacific chemical surface treatments market is projected to grow at the highest CAGR between 2017 and 2022. The growth of the Asia Pacific chemical surface treatments market can be attributed to growing demand for chemical surface treatments from various end-use industries such as transportation, electrical & electronics, construction, and industrial machinery of China and India. Moreover, increasing investments by manufacturers of chemical surface treatments in the surface treatment and plating sector of the Asia Pacific region is also fueling the growth of the chemical surface treatments market in the region.
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Some of the key players operating in the chemical surface treatments market are Platform Specialty Products Corporation (US), NOF Corporation (Japan), Atotech Deutschland GmbH (Germany), Henkel AG & Co. KGaA (Germany), Chemetall, Inc. (Germany), Nihon Parkerizing Co., Ltd. (Japan), and PPG Industries, Inc. (US). These companies have adopted major growth strategies such as new product & technology launches, joint ventures & acquisitions, investments & expansions, and agreements between 2015 and 2017 to enhance their position in the chemical surface treatments market.
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