The chemical surface treatment market has demonstrated robust growth, increasing from $14.67 billion in 2023 to $15.85 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.1%. This growth in the historical period is linked to manufacturing growth, corrosion prevention, metal finishing requirements, and applications in electronics, semiconductors, aerospace, and defense. Moving forward, the market is expected to continue strong growth, reaching $21.68 billion by 2028 with a CAGR of 8.1%. The projected growth is associated with factors such as smart coatings, rising healthcare infrastructure, high-performance plastics, growing demand for functional coatings, and innovations in pre-treatment processes. Major trends during this period include eco-friendly treatment methods, utilization of nanotechnology, water-based surface treatment solutions, thermal spray coatings, and customization for specific end-use industries.
Major Driver In The Chemical Surface Treatment Market
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 the previous year. Therefore, the rising automotive industry will drive the chemical surface treatment market.
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Chemical Surface Treatment Market Competitive Landscape
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
Key Chemical Surface Treatment Market Trend
Technological advancements have emerged as the key trend gaining popularity in the chemical surface treatment market. Advanced surface coating treatment helps protect against wear-prone applications. They are intended to be wear-resistant, reduce friction, and protect against caustic/acidic materials and cleaning agents to improve line efficiencies. Major companies operating in the chemical surface treatment sector are focused on developing new technological solutions to meet customer demand. For instance, in January 2022, ABB, a Switzerland-based automation company, launched low voltage flameproof motors for explosive environments. The advanced surface treatment on ABB's low voltage flameproof motors makes them resistant to even the harshest environmental conditions. The motors are built with a strong frame and integrated feet for rigidity and vibration-free operation in foot-mounted applications.
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Chemical Surface Treatment Market Segmentation
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
By Geography:The regions covered in the chemical surface treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the chemical surface treatment market in 2023.
The Chemical Surface Treatment Global Market Report 2024 furnishes information about the global chemical surface treatment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
