APAC Surface Treatment Chemicals Market Size
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Market Trends
This section covers the major market trends shaping the APAC Surface Treatment Chemicals Market according to our research experts:
Rising Demand for Surface Treatment Chemicals from the Automotive and Transportation Industry
- Surface treatment is frequently used in the automotive and transportation sectors because most of the parts are made of metals (steel, iron, and aluminum), which require surface treatment for various objectives, including electrical insulation, thermal insulation, corrosion resistance, and decorative purposes.
- Surface treatment is a more common process in the automotive and transportation sectors, which boosts the demand for surface treatment chemicals (activation and passivation agents, cleaners, conversion coatings, and others) in this sector.
- Additionally, compared to other types of chemicals, the industry's demand for cleaners is particularly high, with acidic and basic cleaners accounting for most of the sales. Alkaline cleaners remove organic residues such as oils, fats, greases, and proteins, whereas acidic cleaners remove brake dust, road grime, and rust.
- Asia is the largest global competitor in the automotive industry. In 2021, China was the largest automotive segment, followed by India in third place and Japan in fourth place in terms of vehicle production. Some Asian automobile manufacturing companies, such as Toyota Motor Corporation (Japan), Shanghai Automotive Industry Corporation (China), and Hyundai Motor Company (South Korea), are global leaders.
- According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), India produced a record-breaking 3.6 million passenger cars vehicles in 2021, witnessing a growth rate of 27% compared to the previous year.
- In addition, Asia produced 4,67,32,785 units of vehicles in 2021, witnessing a growth rate of 3% compared to the previous year.
- Therefore, considering the factors mentioned above, the demand for the surface treatment chemicals market is expected to rise significantly in the automotive and transport segment in the near future.
China to Dominate the Market
- China dominates the Asia-Pacific surface treatment chemicals market in revenue and share. The country is set to continue flourishing in its dominance over the forecast period.
- Surface treatment chemicals are used in various automotive, metalworking, wood, and aerospace industries. China holds a considerable share in all these major end-user sectors, which boosts the country's demand for surface treatment chemicals.
- According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), China led the vehicle manufacturing market, producing the most vehicles in the world (26.1 million units). Furthermore, the automotive industry is the largest consumer of surface treatment chemicals, bolstering its regional dominance in the surface treatment chemicals market.
- According to the National Bureau of Statistics of China, the construction industry in China generated an added value of about CNY 8.013 trillion (~USD 1.241 trillion) in 2021, witnessing a growth compared to CNY 7.24 trillion (~USD 1.1 trillion) in 2020. Surface treatment chemicals are used as a fire retardant in the construction industry, thereby increasing the demand for surface treatment chemicals within the country.
- All aforementioned factors are likely to fuel the growth of the surface treatment chemicals market in China over the forecast time frame.
APAC Surface Treatment Chemicals Industry Overview
The Asian-Pacific surface treatment chemicals market is fragmented in nature. Some of the major players in the market (in no particular order) include Nippon Paint Holdings Co. Ltd, Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION, and The Sherwin-Williams Company, among others.
APAC Surface Treatment Chemicals Market Leaders
Nippon Paint Holdings Co., Ltd.
Henkel AG & Co. KGa
PPG Industries Inc.
NOF CORPORATION
The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
APAC Surface Treatment Chemicals Market News
- In November 2022, BASF inaugurated its largest surface treatment site (under the Chemetall brand) in Pinghu City, Zhejiang Province, China. This location is 60,000 square meters in size and has enhanced capacity to meet the regional demand for high-performance surface treatment chemicals.
- In July 2022, DIC Corporation (a leading Japanese chemical company) announced the complete acquisition of Guangdong TOD New Materials Co. Ltd, a Chinese chemical coating resin manufacturer based in Guangdong Province (China). This acquisition would help the company in backward integration.
APAC Surface Treatment Chemicals Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from the Automotive and Transport Industry
4.1.2 Rapid industrialization in Asia-Pacific
4.2 Restraints
4.2.1 Strict Government Regulations on Higher Emission Rates of Volatile Organic Compounds (VOCs)
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Chemical Type
5.1.1 Plating Chemicals
5.1.2 Cleaners
5.1.3 Conversion Coatings
5.1.4 Other Chemical Types (Coolants, Paint Strippers)
5.2 Base Material
5.2.1 Metals
5.2.2 Plastics
5.2.3 Other Base Materials (Glass, Alloys, Wood)
5.3 Geography
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Rank Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Chemetall GmbH
6.4.2 ChemTech Surface Finishing Pvt. Ltd.
6.4.3 Henkel AG & Co. KGa
6.4.4 JCU CORPORATION
6.4.5 Nihon Parkerizing Co. Ltd
6.4.6 Nippon Paint Holdings Co. Ltd
6.4.7 NOF CORPORATION
6.4.8 OC Oerlikon
6.4.9 PPG Industries Inc.
6.4.10 The Sherwin-Williams Company
- *List Not Exhaustive
6.5 MARKET OPPORTUNITIES AND FUTURE TRENDS
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 |
APAC Surface Treatment Chemicals Market Research 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.
What years does this Asia-Pacific Surface Treatment Chemicals Market cover?
The report covers the Asia-Pacific Surface Treatment Chemicals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Surface Treatment Chemicals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Surface Treatment Chemicals Industry Report
Statistics for the 2024 Asia-Pacific Surface Treatment Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Surface Treatment Chemicals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
