India Metal Treatment Chemical Overview
Metal treatment chemicals can be defined as a surface treatment chemical that has applications in cleaning, anodizing, and paint bonding on various metal substrates. Its application can be targeted to remove impurities and impact various processes in ferrous metals or inorganic contaminants. The market for Indian metal treatment chemicals can achieve a CAGR of 5.68% and surpass USD 378.4 million by 2023.
Market Research Future (MRFR) finds the growth of the market quite effective for reasons like growing automobiles, auto components, and defense & railways sectors. Among other factors, government initiatives to improve metalworking can be taken as a major growth initiator.
However, the market for Indian metal treatment chemicals can find great hurdles in the form of plastics and composites. But its growth in the automotive, industrial machinery and electrical & electronics industry can bring the market right on the growth track.
India Metal Treatment Chemical Key Players
The Indian market for metal treatment chemicals covers various companies that are significantly impacting the market with tactical moves. This is also about various other factors that are cementing the market position for these companies. These players are Henkel Adhesives Technologies, BASF India Ltd., Chemtex Speciality Limited, Metalguard Pvt. Ltd., Dimetrics Chemicals, Prime Laboratories, CMP PVT. LTD, Olivine Mercantiles Pvt. Ltd., KCH INDIA PVT. LTD, and GTZ India Private Limited among others
India Metal Treatment Chemical Market Price to Surpass a Valuation of $378.4Mn by the end of 2023
In October 2019, researchers at the Indian Institute of Technology (BHU), came up with a new method of protecting the copper from corrosion in a manner that would be cost-effective. The process includes a method called ‘floating film transfer method’ that obtains ultrathin films of a specific organic material, squaraine, that the process transfers over copper articles as layers.
Key Findings
The Indian metal treatment chemical market is projected to reach USD 378.4 million by 2023 at a CAGR of 5.68% during the review period, 2017-2023. Among all, the anodizing and platting segment is leading type of metal treatment chemical market. Corrosion protective chemicals protect the metal components from degradation due to oxidation or exposed to moisture and salt spray.
Moreover, to maintain smooth surface texture, corrosion protection chemicals are expected to retain its dominance over the forecast period. Among these applications, the automotive & component segment is accounted for the largest market share in 2016. Growing continual repair of warranty parts drives the demand for metal treatment chemicals from the automotive industry. Furthermore, to increase the durability of metal along with maintaining surrounding free from containment, cleaning chemicals are anticipated to drive metal treatment chemical market. Rising government initiatives coupled with increasing environmental-friendly chemical formulation is anticipated to drive the Indian metal treatment chemicals market.
India Metal Treatment Chemical Segmentation
The Indian market for metal treatment chemicals has a strong foundation in the report on type and application. These segments have significant coverage of various factorial details that can be taken into consideration for better analysis and planning for the future market.
By type, the market report on the India metal treatment chemical market can be segmented into Cleaning, Platting, Anodizing Corrosion Protective, Paint Stripers, and others. The integration of various metallic structures in the industrial process is also a major factor that can create significant space for all these sectors to establish their claim.
By application, the global market report on the India metal treatment chemical can be segmented into automotive, transportation, and construction. Various ongoing constructions are expected to take the global market forward. Also, the recent inclusion of 100% FDI by the government is expected to take the automotive segment ahead. The urban areas are showing a significant intake of automobiles, which can be taken into consideration for the growth of the Indian metal treatment chemical. The rural sector is witnessing significant growth in the construction sector owing to which the Indian metal treatment chemical market can find significant growth.
India Metal Treatment Chemical Regions
The market for Indian metal treatment chemical has been segmented into several provinces, which can be considered later for a better market analysis that would facilitate strategy-making decisions. The north is witnessing a constant surge in the automotive industry, which can influence the market significantly for a better understanding. In 2016, it was worth USD 88 million and now with the highest CAGR of 5.72% the market is expected to grow.
The west is showing potential for growth in the various industrial sector. Also, the region has the leading producers of various industries, which can inspire market growth. In the South, clusters of the automotive sector with companies like Hyundai Motor India Limited, BharatBenz, Ford India, and Ashok Leyland are growing significantly to make sure that the market for the Indian metal treatment chemical market is growing. Both the western and southern segments are witnessing strong growth in the construction sector.
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Table Of Figures
FIGURE 1 TOP DOWN & BOTTOM UP APPROACH
FIGURE 2 FORECAST MODEL
FIGURE 3 INDIA METAL TREATMENT CHEMICALS MARKET, BY TYPE, 2015-2023 (USD MILLION)
FIGURE 4 INDIA METAL TREATMENT CHEMICALS MARKET, BY TYPE, 2015-2023 (KILO TONS)
FIGURE 5 INDIA ANODIZING AND PLATTING CHEMICALS METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 6 INDIA CORROSION PROTECTIVE CHEMICALS METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 7 INDIA CLEANING CHEMICALS METAL TREATMENT CHEMICALS MARKET SHARE, BY SECTORS, 2016 (%)
FIGURE 8 INDIA PAINT STRIPERS METAL TREATMENT CHEMICALS MARKET SHARE, BY SECTORS, 2016 (%)
FIGURE 9 INDIA OTHERS METAL TREATMENT CHEMICALS MARKET SHARE, BY SECTORS, 2016 (%)
FIGURE 10 INDIA METAL TREATMENT CHEMICALS MARKET, BY APPLICATION, 2015-2023 (USD MILLION)
FIGURE 11 INDIA METAL TREATMENT CHEMICALS MARKET, BY APPLICATION, 2015-2023 (KILO TONS)
FIGURE 12 INDIA AUTOMOTIVE & COMPONENTS METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 13 INDIA METAL WORKING METAL TREATMENT CHEMICALS MARKET SHARE, BY SECTORS, 2016 (%)
FIGURE 14 INDIA INDUSTRIAL MACHINERY METAL TREATMENT CHEMICALS MARKET SHARE, BY SECTORS, 2016 (%)
FIGURE 15 INDIA ELECTRONICS & ELECTRICAL METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 16 INDIA CONSTRUCTION & INFRASTRUCTURE METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 17 INDIA AEROSPACE & OTHER TRANSPORTATION METAL TREATMENT CHEMICALS MARKET SHARE,
BY SECTORS, 2016 (%)
FIGURE 18 INDIA METAL TREATMENT CHEMICALS MARKET, BY SECTORS, 2015-2023 (USD MILLION)
FIGURE 19 INDIA METAL TREATMENT CHEMICALS MARKET, BY SECTORS, 2015-2023 (KILO TONS)
FIGURE 20 GLOBAL AND INDIAN MARKET STRATEGY (%)
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