Metal treatment chemicals are used to maintain the luster and smooth finish of the surface metal that gets deteriorated with the time, extreme temperature, and corrosive environment. Prominent application areas of these chemicals include automotive OEM component industry, metalworking, electrical electronic, and industrial machinery among others.
The India 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.
Major Players:
Key players leading the India metal treatment chemical market include Henkel Adhesives Technologies, BASF India Ltd., Metalguard Pvt. Ltd., CMP PVT. LTD, Chemtex Speciality Limited, Dimetrics Chemicals, Olivine Mercantiles Pvt. Ltd., KCH INDIA PVT. LTD, Prime Laboratories, and GTZ India Private Limited among others.
Globally, India is one of the largest markets for metal treatment chemicals. Not only the nation is one of the largest producers but also a larger consumer of these chemicals. Some of the burgeoning industries such as automotive, OEM, metalworking, and electrical electronics are creating substantial demand for metal treatment chemicals.
Moreover, India’s defense sector which accounts for the second-largest in the world provides a significant platform in bolstering the business opportunities for metal treatment chemicals. The defense industry in India is receiving a considerable boost, thanks to the rapidly growing economy and opening up of defense production to the private sector. Resultantly, India has now become a hub for metal works in Asia.
Resultantly, the Metal Treatment Chemical Market in India is growing rapidly. Additional factors that are predominantly driving the market growth for these chemicals include the technological advancements transpired in the metalworking industry that is increasingly meeting the demand from the various sectors such as the automobile, auto components, and defense railways among others.
Acknowledging the spurting growth, the Indian market is perceiving currently and the potential this market holds to grow further, a leading research firm ‘Market Research Future’ (MRFR) in its recently published study report asserts that the India metal treatment chemical market will garner a valuation of USD 378.4 MN by 2023 registering a CAGR of 5.68% throughout the forecast period (2017 to 2023).
Metal treatment chemicals are also extensively used in the energy sector to apply on the various equipment machineries used in industries such as oil gas, nuclear, coal, hydro, biomass, and other renewable energy sources. Also, these chemicals are used in the Shipbuilding Marine industry, and in the Transport Automotive industries where machines are continually confronted to the extreme weather conditions and so to the threats of deterioration.
With the growing demand for sustainable or alternative energy generation, the energy industry is booming currently, demanding the metal treatment chemicals for more than ever. Moreover, the demand from other burgeoning sectors such as marine automotive drive the growth of the market. The augmented demand and consumption in various industries will further convert the market into a vastly expanded space in the years to come.
Additionally, factors such as growing industrialization in India is fostering market growth. Improving economic condition in the country is playing a vital role in the growth of the market, enabling access to the quality life by enhancing the consumers’ purchasing power. Besides, the seminal efforts investments, made by the market players to develop advanced substrates, are paying off well, driving the growth of the metal treatment chemical market in India.
On the other hand, factors such as the vast competition posed by the plastic and composites materials are impeding the growth of the market, replacing many parts in automotive, industrial machinery and electrical electronic industry. Also, the volatility of prices and demand supply gap of the raw materials required for the production of these chemicals are obstructing the market growth of the metal treatment chemicals in India.
Metal Treatment Chemical Market – Segmentation
For enhanced understanding, the market has been segmented into three key dynamics: -
By Type : Anodizing Platting, Corrosion Protective, Cleaning, and Paint Stripers among others.
By Application : Automotive, Metalworking, Industrial Machinery, Electronics Electrical, Construction, and Aerospace Transportation among others.
By Regions : India as a whole and its various states.
Metal Treatment Chemical Market – Competitive Analysis
India’s metal treatment chemical market is highly competitive and appears fragmented with the presence of numerous matured small, yet notable players that are accounting for a larger market share. To gain an edge over other competitors in this market, these players adopt strategic initiatives such as the partnership, acquisition, expansion, collaboration, and product technology launch.
Developing customized treatment chemical is the latest trend observed in the market during the analysis which is projected to drive the market competition intensely in the years to come. Manufacturers having the ability to manufacture tailor-made products are expected to gain an edge over their rivals.
Industry/Innovation/Related News
February 24, 2019 --- Grauer Weil (India) Limited, a leading global manufacturer of chemical and engineering products displayed its impressive range of Surface treatment Coating products at Aero India 2019. With the use of latest and state-of-the-art technologies, these products are specifically designed to provide high-performance and cost-effective solutions.
These were a host of stellar products in different categories for aerospace and defense applications including conversion coatings on various alloys, alloy plating, and enamels for aircraft and missile bodies, marine paints for ships and offshore structures, metalworking, and rust preventive lubricants coolants among others. These were a host of stellar products in different categories for aerospace and defense applications including conversion coatings on various alloys, alloy plating, and enamels for aircraft and missile bodies, marine paints for ships and offshore structures, metalworking, and rust preventive lubricants coolants among others.
Ref:
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans conducts meet with the industry experts and industrial visits for its research analyst members.
Contact US:
Wantstats Research and Media Private Limited,
99 Hudson Street,5Th Floor,
New York, New York 10013,
United States of America
