PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410132
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410132
The chemical surface treatment market was evaluated at US$3.974 billion in 2021 and will grow at a CAGR of 6.23% to be worth US$6.067 billion by 2028.
The chemical surface treatment market size is increasing as chemical surface treatment is utilised more frequently in industries such as packaging, transportation, industrial machinery, and construction. The need for industrial machinery will increase, which will increase the market for products that chemically treat surfaces. The market for chemical surface treatment is projected to be driven by rising auto demand as well as an increase in infrastructure projects across various emerging economies. The many advantages of chemical surface treatment, including electrical conductivity, corrosion resistance, wear resistance, and chemical resistance, are also significantly driving demand and driving the market's rapid expansion.
The main trend gaining traction in the chemical surface treatment market is technological advances. The cutting-edge surface coating technique offers protection from applications that are prone to wear. To increase line efficiency, they are designed to be wear-resistant, reduce abrasion, and protect from caustic/acidic ingredients and cleaning agents. To meet consumer demand, major businesses in the chemical surface treatment industry are concentrating on creating innovative technology solutions. For instance, the automation company ABB, based in Switzerland, introduced low-voltage flameproof actuators for explosive settings in January 2022. Low-voltage fireproof motors from ABB are resistant to even the most extreme environmental conditions thanks to their cutting-edge surface treatment.
The suitability of plating chemicals for electronic parts and components because they increase electrical conductivity, corrosion resistance, and wear resistance of the component's solder. These chemicals involve the use of rhodium, copper, nickel, silver, and platinum as materials for finishing electronics components, which increases the chemical surface treatment market share. These chemicals are used in various fields in the electrical and electronics industry, such as capacitors, resistors, PCB, semiconductors, etc.
Workers in the healthcare sector are more likely to experience severe allergic responses to latex. In the healthcare industry, about 1 in 10 workers have latex allergy or sensitivities. Hives, a runny or stuffy nose, and itching are some latex allergy symptoms. It may result in chest tightness, wheezing, and other asthma symptoms. The signs typically appear a minute after being exposed to latex products. Food allergies result from latex allergies. The allergic latex protein found in latex glove products might cause allergic skin issues when coming into direct touch with it. Many hospitals have moved to protective gloves to prevent these allergies, which can open up lucrative market potential.
During the projected period, the Asia Pacific region is anticipated to lead the chemical surface treatment market due to the expanding industrial and manufacturing industries in China and India. The primary drivers of the need for chemical surface treatment in the region are the automotive, aerospace, and construction industries. The automotive sector has seen a significant increase in demand as disposable income has grown and the middle-class population has expanded in emerging countries. These two countries have become important hubs for the automobile industry as a result of several large international automakers setting up manufacturing plants there, which has raised the demand for chemical surface treatment.
A barrier for the market for chemical surface treatment is considered to be the high chemical consumption brought on by the low-quality rises in operating costs. As a result, this will hinder the chemical surface treatment market growth. Additionally, additional chemicals are needed to treat corroded and rusted parts, which drives up overall costs and is anticipated to restrain the growth of the worldwide chemical surface treatment market. The market for chemical surface treatment will encounter challenges due to the strict government regulations addressing higher levels of volatile organic compound (VOC) emissions throughout the process.