Description:-
The Indian metal treatment chemical market is likely to witness a substantial growth at a CAGR of 5.68% and is projected to reach USD 378.4 million by the end of 2023. Rising demand for metal components in industrial machinery, electronics & electrical, construction and transportation industry are anticipated to augment the market growth. Moreover, rising government initiatives to boost the production of machine tools namely in automotive and railway sector are expected to drive the market growth.
Metal treatment chemicals are used for removing scale, stain and inorganic contaminants.
These chemicals are a part of surface treatment chemicals used mainly for cleaning, anodizing and smooth bonding paints on any metal substrate. Based on various metal treatment chemicals types, the anodizing & platting is leading the segment, which held 32.6% market share in 2016. Anodizing & platting is set to emerge as the preferred choice in metal treatment chemicals owing to easy penetration of anodizing hard coating for numerous application such as electrode coating, anodized layer formation, and electroless plating. Cleaning chemicals segment witnessed a substantial growth and is expected to reach USD 75.4 million by 2023. These chemicals are the first stage of surface metal treatments as they are used to remove scale, contaminants, and dust from the metal substrate thereby, providing a durable and hygienic environment for metal. However, to maintain luster and smooth finish under extreme temperature, corrosion protection chemicals are gaining high importance and are expected to grow at a CAGR of 5.81% during the forecast period.
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India metal treatment chemicals are used in various application such as automotive & components, metalworking, industrial machinery, electronics & electrical, construction & infrastructure, aerospace & transportation. The prominent application automotive & OEM components segment is anticipated to reach USD 124.8 million by 2023 at a CAGR of 6.14% during the forecast period 2017-2023. Growing production and sales of automobile in India are likely to boost the market growth further. To maintain the smooth surface finish and optimum paint adhesion, auto components are treated with chemicals for long-term corrosion protection. Thus, this segment is anticipated to retain its dominance over the forecast period. Rising concern over continual repair of warranty parts has led to high demand for the product in various applications, especially electrical & electronic products. Construction & infrastructure segment is projected to witness a considerable CAGR of 5.81% during the review period due to growing government expenditure to boost tourism activity. Furthermore, development in metal work industry such as minimal complex process and technology advancement has led to the positive growth.
India metal treatment chemical market share, by type, 2016 (%)
Regional analysis
India metal treatment chemicals market is further segregated into four sectors such as North, East, West, and South. The northern sector offers a lucrative opportunity to the automakers and its suppliers owing to close proximity to the raw material manufacturers and policymakers such as ACMA and SIAM. Major automotive companies such as Bajaj Auto, Hero Moto Corp, Honda, JCB, and Maruti Suzuki also owns headquarter and capture a major share in this sector. Growing automotive sales in North sector is valued at USD 88.0 million in 2016 which accounts for highest CAGR of 5.72% during the assessment period. Moreover, the rapid growth in the industrial machineries and government initiatives such as 100% FDI in the automotive industry are driving the growth of the metal treatment chemicals market. The western region of India emerged as a huge potential sector due to the presence of considerable market participants and favorable climatic condition. Moreover, growing infrastructure activities and rise in the SME’s (small-medium enterprise) in Southern region are likely to propel the growth of India metal treatment chemicals market.
Segmentation
India metal treatment chemical market is segmented into types and application. Based on the type, the market is segregated as anodizing & platting, corrosion protective, cleaning, paint stripers. On the basis of the application, the market is divided into automotive & components, metalworking, industrial machinery, electronics & electrical, construction & infrastructure, and aerospace & transportation.
Key Players
Some of the key players in the India metal treatment chemical market are BASF India Ltd., Henkel Adhesives Technologies, Metalguard Pvt. Ltd., Chemtex Speciality Limited, CMP PVT. LTD, Dimetrics Chemicals, KCH INDIA PVT. LTD, Olivine Mercantile Pvt. Ltd., Prime Laboratories and GTZ India Private Limited among others
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Table Of Contents – Major Key Points
1 Report Prologue
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions
2.2.3 Limitations
2.3 Markets Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.1 Drivers
4.1.1 Growing Indian Automotive Industry is driving the demand of metal treatment chemicals (High)
4.1.2 Government initiatives favoring the metal working demand growth (Moderate)
4.2 Restraints
4.2.1 Replacement of metal with plastic components in transportation industry
4.3 Opportunities
4.3.1 Growing opportunity in bio based cleaning chemicals
4.4 Macroeconomic Indicators
4.4.1 Rise in disposable income coupled with increased spending on household and automotive.
5 Market Factors Analysis
5.1 Supply Chain Analysis
5.1.1 Raw Material Producers
5.1.2 Manufacturers
5.1.3 Distributors
5.1.4 End Use Industries
5.2 Porter’s Five Forces
5.2.1 Threat of New Entrants
5.2.2 Threat of Rivalry
5.2.3 Threat of Substitute
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