Market Size of Asia-Pacific Surface Treatment Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Surface Treatment Chemicals Market Analysis
The Asian-Pacific surface treatment chemicals market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic positively impacted the surface treatment chemicals market in Asia-Pacific. During Covid-19, the demand for surface treatment chemicals increased because of their additional property to destroy the coronavirus. For example, ALANOD GmbH's MIRO UV-C product effectively destroyed the COVID-19 virus and is utilized as a material for reflectors in sanitizing equipment.
- In the short term, the growing adoption of surface treatment chemicals from the automotive and transport industry is benefiting the market demand.
- Rapid industrialization is another blooming opportunity for the surface treatment chemicals market.
- Strict government regulations on higher emission rates of volatile organic compounds (VOCs) remain a constraint to the market's growth.
- China is expected to dominate the surface treatment chemicals market in Asia-Pacific and is also likely to witness the highest CAGR during the forecast period.
APAC Surface Treatment Chemicals Industry Segmentation
Surface treatment chemicals are chemicals that are applied to a surface to provide extra functions such as corrosion and wear resistance or to enhance ornamental characteristics to improve its appearance. The Asia-Pacific surface treatment chemicals market is segmented by chemical type, base materials, end-user industry, and geography. The market is segmented by chemical type: plating chemicals, cleaners, conversion coatings, and other chemical types (coolants, paint strippers). The market is segmented by base materials: metals, plastics, and other base materials (glass, alloys, wood). By end-user industry, the market is segmented into automotive and transportation, construction, electronics, industrial machinery, and others (oil and gas pipeline, power, military, packaging, etc.). The report also covers the market size and forecasts for the surface treatment chemicals market in 4 countries. For each segment, the market sizing and forecasts have been done based on revenue (USD Million).
| Chemical Type | |
| Plating Chemicals | |
| Cleaners | |
| Conversion Coatings | |
| Other Chemical Types (Coolants, Paint Strippers) |
| Base Material | |
| Metals | |
| Plastics | |
| Other Base Materials (Glass, Alloys, Wood) |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Surface Treatment Chemicals Market Size Summary
The Asia-Pacific surface treatment chemicals market is experiencing a positive trajectory, driven by the increasing demand from the automotive and transportation sectors. This demand is fueled by the necessity for surface treatment in metal components, which require processes such as electrical and thermal insulation, corrosion resistance, and decorative finishes. The market is also benefiting from rapid industrialization in the region. However, stringent government regulations concerning volatile organic compound emissions pose challenges to market growth. China is anticipated to maintain its dominant position in the market, supported by its robust automotive industry and significant production of vehicles, which necessitate the use of surface treatment chemicals.
The market landscape is characterized by fragmentation, with key players such as Nippon Paint Holdings Co. Ltd, Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION, and The Sherwin-Williams Company actively participating. Recent developments, such as BASF's inauguration of a large surface treatment site in China and DIC Corporation's acquisition of Guangdong TOD New Materials Co. Ltd, highlight the ongoing efforts to enhance capacity and integrate operations within the region. The construction industry in China also contributes to the demand for surface treatment chemicals, particularly as fire retardants, further bolstering the market's growth prospects.
Asia-Pacific Surface Treatment Chemicals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Automotive and Transport Industry
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1.1.2 Rapid industrialization in Asia-Pacific
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1.2 Restraints
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1.2.1 Strict Government Regulations on Higher Emission Rates of Volatile Organic Compounds (VOCs)
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Chemical Type
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2.1.1 Plating Chemicals
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2.1.2 Cleaners
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2.1.3 Conversion Coatings
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2.1.4 Other Chemical Types (Coolants, Paint Strippers)
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2.2 Base Material
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2.2.1 Metals
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2.2.2 Plastics
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2.2.3 Other Base Materials (Glass, Alloys, Wood)
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 Rest of Asia-Pacific
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Asia-Pacific Surface Treatment Chemicals Market Size FAQs
What is the current Asia-Pacific Surface Treatment Chemicals Market size?
The Asia-Pacific Surface Treatment Chemicals Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Surface Treatment Chemicals Market?
Nippon Paint Holdings Co., Ltd., Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION and The Sherwin-Williams Company are the major companies operating in the Asia-Pacific Surface Treatment Chemicals Market.
