Surface Treatment Chemicals Market: Current Analysis and Forecast (2021-2027)

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The global surface treatment chemicals market is expected to showcase growth of around 6% during the forecast period (2021-2027). For many years surface treatment chemicals are in the market and over the years demand of chemicals has been increasing owing to rising production of ferrous and non-ferrous metals along with other industrial products. In order to protect these materials from corrosion or to remove the oil or any other unwanted layer from the base materials, surface treatment chemicals are used. Further, to apply a protection or aesthetic layers on the base materials surface treatment chemicals are taken into consideration. Therefore, it is expected that with the rising industrial production, demand of metals would increase, thereby increasing the demand of surface treatment chemicals to remove unwanted layer and provide protection or aesthetic beauty to the base material. According to World Steel Association, the global apparent steel consumption (finished steel products), has increased to 1,771.8 million tons in 2020 from 1,446.1 million tons in 2012.

Insights Presented in the Report

“Amongst type, cleaners segment held prominent share in the market in 2020.”

Based on type, the market is categorized into cleaners, plating chemicals, conversion coatings, and others. Among these, cleaners or cleaning chemicals captured significant share in the market owing to their use to protect the materials from corrosion. Further, these chemicals are used to remove the oil from the metal surface, since without removing oil from the metal surface, paint or powered coating would not last for a longer period. Owing to such reasons, the demand of cleaning chemicals is likely to increase with increasing industrial production.

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“Amongst material, metal segment accounted for major share in the global Surface Treatment Chemicals market

Based on material, the market is categorized into metals, plastics, and others. Among these, metal held the prominent share in the market owing to their susceptible nature towards corrosion. Further, in the production of metals, the metals are covered with oily surface which is necessary to remove before processing it further. Also, electroplating coating is widely used in metals to provide it an aesthetic look. Since the application areas of surface treatment chemicals is vast in the case of metal compared to plastic or any other materials, it accounts for the major share in the market.

“Asia Pacific captured significant position in the Surface Treatment Chemicals market”

For a better understanding of the market adoption of Surface Treatment Chemicals, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for significant share in the market and is expected to showcase substantial growth during the forecast period owing to growing industrial production, increasing investment in setting up new facilities by western players in order to take advantage of lower labor rate and raw material. Further, growing population, increasing urbanization couple with improving per-capita income boosting the demand from end-use industry, thereby increasing the demand of Surface Treatment Chemicals.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Surface Treatment Chemicals three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Surface Treatment Chemicals industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Surface Treatment Chemicals through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Surface Treatment Chemicals market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by type, material, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Surface Treatment Chemicals globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Surface Treatment Chemicals. Further, we conducted factor analysis using dependent and independent variables such as growing end-use industry and increasing demand for high finish products. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Surface Treatment Chemicals industry.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Surface Treatment Chemicals market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Surface Treatment Chemicals across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Surface Treatment Chemicals market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Surface Treatment Chemicals market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type, material, and end-user.

The main objective of the Surface Treatment Chemicals market study

The current & future market trends of global Surface Treatment Chemicals were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Surface Treatment Chemicals in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segment in the study include area of type, material, and end-user
• Defined analysis of the regulatory framework for the Surface Treatment Chemicals industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Surface Treatment Chemicals for the major countries
• Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Surface Treatment Chemicals market players and the growth strategies adopted by them to sustain in the growing market

Deep dive country level analysis of the industry