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BIS Research Estimates Global Surface Treatment Market To Grow With 7.8 % CAGR From 2017 To 2023

10 May 2017
Global Surface Treatment Chemicals Market

The automotive industry is driving the demand of surface treatment chemicals at a rapid pace with the rise in consumer base. Other industries like general industry, coil industry, industrial machinery, aerospace industry etc., are steadily pushing the demand of surface treatment chemicals. Companies in the surface treatment chemicals market are utilizing this opportunity to develop a stronghold in the market, through activities such as acquisition, merger and partnership.

BASF, the German chemicals group, purchased Albemarle’s Chemetall unit for $3.2bn in 2016, expanding its operations. According to BASF, this will complement its paints and coatings division, which last year recorded sales of €3.2bn1. BASF’s board member in charge of coatings, Wayne T. Smith, said BASF’s aim was “to grow profitably in downstream, innovation and solution-focused businesses”1.

Another leading player of the market and materials and surface solutions provider, Oerlikon Metco, acquired assets, technologies and key people from Recentis Advanced Materials Inc., of Canada2. Recentis Advanced Materials’ advanced technologies “enables Oerlikon Metco to produce powder materials requiring melting or alloying temperatures above 3200°C and/or require high purity properties. Oerlikon Metco also acquired the know-how and IP rights for the production of fully alloyed carbides that can be tailored in density to pair with a metal matrix, featuring excellent impact wear properties in combination with high abrasion resistance.”2 

These mergers and acquisitions have propelled a healthy growth in the market and the competition has intensified. Acknowledging this aggressiveness in the market, BIS Research has compiled a report titled ‘Global Surface Treatment Chemicals Market - Analysis and Forecast, 2017-2023’, which is a comprehensive analysis of the surface treatment chemicals market on the basis of chemical type, base material, and application vertical. 

According to the analyst at BIS Research, “The global surface treatment chemicals market was worth $4.8 billion in 2016, and is estimated to grow at a CAGR of 7.8 % over the period of 2017-2023, hitting $8.1 billion by 2023. The wide range of applications of these materials across automotive, general industry, coil industry, industrial machinery, metalworking industry and aerospace industry is likely to drive the market growth over the forecast period.”

The study also includes sections on competitive insights and market dynamics. Herein the revenue generated from surface treatment chemicals is tracked to calculate the market size. The emphasis of the report is on the market share and size of automotive industry and general industry, owing to their large scale share in the current and upcoming market of surface treatment chemicals. The industry analysis has also been done to examine the impact of various factors and understand the overall attractiveness of the industry. 

The report also includes a separate section on company profiles, with significant information about the key companies involved along with their financials, financial summaries and key strategies & developmental activities in the recent years. Some of the key players involved in this market are Henkel AG, Chemetall, Nihon Parkerizing, PPG, Nippon Paint Holdings, Oerlikon Group, JCU Corporation, Derivados Del Fluor, Solvay, McGean Specialty Chemicals, Yuken Industry, PoliteknikMetal, PlatformSpecialty Products Corp, Quaker Chemical Corporation, Sugest, AHC Oberflächentechnik GmbH and TIB Chemicals.

References:
1 Financial Times
2 MFRTech

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