Revenue of Surface Treatment Chemicals Market Reaches USD 7.2 Billion in 2024, Projections Show 7.15% CAGR Growth by 2030

By akio01 Last updated dec 3, 2024

According to a new report from MarkNtel Advisors, the Global Surface Treatment Chemicals Market is poised for strong growth, projected to reach approximately USD 7.2 billion in 2024, with a compound annual growth rate (CAGR) of 7.15% during the forecast period from 2025 to 2030. This growth trajectory is primarily driven by the robust expansion of various industrial sectors, especially automotive, aerospace, and construction.

Regional Insights

The market shows notable regional variations, with the Asia-Pacific region expected to hold the largest share during the forecast period. Key factors contributing to this dominance include:

Urbanization Projects: Rapid industrialization and urban infrastructure development are driving significant growth in demand across countries like China and India.
Automotive Expansion: The burgeoning automotive sector in these nations results in increased production capabilities, consequently boosting the need for surface treatment chemicals.

Other regions such as North America, Europe, South America, and the Middle East & Africa are also witnessing growth, although at varied rates due to different industrial growth stages and regulatory environments.

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Market Segmentation

The global surface treatment chemicals market is segmented based on application, type, and geography.

By Application:

Automotive Industry: Anticipated to dominate the market, spurred by increasing vehicle production and demand for enhanced product durability and corrosion resistance.
Industrial Machinery: Significant growth is expected due to rising industrial activities and the need for machinery maintenance.
Coil Industry: Growth in this sector remains strong owing to increased usage of coils in different applications.
Aerospace Industry: The demand for robust surface treatment solutions is increasing as the aerospace sector expands.
Others: This segment includes the metalworking industry, glass industry, and wood industry.

By Type:

Corrosion Protection Chemicals
Cleaners: Currently holds the largest market share, as they are essential for preventing corrosion, enhancing appearance, and maintaining equipment hygiene.
Anodizing Chemicals
Passivation Agents
Others: This includes paint strippers and metal working fluids, which are also experiencing increased demand.

Key Players

The report details the competitive landscape of the global surface treatment chemicals market, highlighting several key players who are pivotal in shaping market dynamics. Notable companies include:

AHC Oberflächentechnik GmbH
Bulk Chemicals Inc.
Chemetall GmbH
Henkel AG & Co. KGaA
JCU CORPORATION
Nippon Paint Holdings Co., Ltd.
Element Solutions Inc.
Solvay S.A
Derivados del Flúor (DDF)
SurTec International GmbH
PPG Industries Inc.

These companies are focusing on strategic initiatives like mergers and acquisitions, product innovations, and expansion in emerging markets to consolidate their positions and respond to the growing demand for eco-friendly solutions.

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Market Drivers and Challenges

The growth of the surface treatment chemicals market is largely fueled by several drivers:

Surge in Building and Construction Projects: With the exponential rise in population and urbanization, the demand for construction-related surface treatment is increasing considerably.
Growth of the Automotive Industry: The automotive sector’s expansion necessitates surface treatment chemicals for vehicle production, enhanced durability, and corrosion protection.

However, the market also faces challenges from stringent environmental regulations imposed by governments worldwide. These regulations focus on minimizing carbon emissions and ensuring safety, putting pressure on manufacturers to innovate and adapt their processes to comply.

Opportunities Ahead

The market for surface treatment chemicals is witnessing a substantial shift towards eco-friendly solutions. Leading players are innovating to develop sustainable products that align with global environmental goals. This focus on sustainability not only addresses regulatory challenges but also opens avenues for business growth in the eco-conscious consumer market.

Conclusion

The global surface treatment chemicals market presents lucrative growth prospects driven by evolving industrial demands, particularly in the automotive and construction sectors across various regions. As manufacturers adapt to regulatory landscapes and consumer trends favoring sustainability, the market is expected to witness significant advancements throughout the forecast period leading to 2030.

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