India Metal Treatment Chemical Market 2018:India Metal Treatment Chemical Industry to 2023
Metal treatment chemicals are the part of surface treatment chemical used for anodizing, cleaning, and paint bonding on any metal substrate. They are used for removing impurities such as stains, scale from ferrous metal and inorganic contaminants. The Indian metal treatment chemical market is expected to grow at a CAGR of 5.68% to reach USD 378.4 million by the end of 2023. The growth of the metal treatment chemicals market is largely driven by development in the metalworking industry owing to increasing demand for the automobile, auto components, and defense & railways sectors. The other factor driving the market growth is rising initiative by government favoring the metalworking.
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The Indian metal treatment chemical market is segmented on the basis of type and end-user. On the basis of the type, the market is segmented into anodizing & platting, corrosion protective, cleaning, paint stripers. By the end user, the India metal treatment chemical market is automotive, metalworking, industrial machinery, electronics & electrical, construction, and aerospace & transportation.
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 Mercantiles Pvt. Ltd., Prime Laboratories and GTZ India Private Limited among others
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.
- Manufacturers and distributors of metal treatment chemical
- Suppliers and traders
- Government, associations and industrial bodies
- Investors and Trade experts
- Consulting in chemical experts
For instance, Indian government initiated campaign ‘Make in India’, to aforementioned end-use sectors of machine tools namely, automotive and railways as the key industries for the economic development. However, metal treatment chemicals face huge competition from plastic and composites as they are replacing many parts in automotive, industrial machinery and electrical & electronic industry. Rising penetration of composite material to lower the cost, increase fuel efficiency and performance of automotive components may hamper the growth of the metal treatment chemicals market in the coming years.
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The prominent application includes automotive OEM & component industry followed by metalworking, electrical & electronic, and industrial machinery. Automotive parts are treated with metal treatment chemicals to provide surface finish and ensures optimal paint adhesion. The automotive OEM & component market is growing tremendously at CAGR of 6.14% to reach USD 124.8 million by the end of 2023. The segment is anticipated to retain its dominance over the forecast period. Similarly, in metalworking, the various chemical treatment process is used to keep natural properties of metal intact. This segment holds a substantial share and shows positive growth on account of emerging industrialization in this region. Moreover, construction and infrastructure is one of the major consumers of the metal market are expected to grow at a considerable CAGR of 5.81%.
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