India Metal Treatment Chemical Market to 2023 | Evolving Technology, Trends and Industry Analysis

Indian metal treatment chemical market is divided into four sectors as North, South, East and West sector. The northern region offers multitude opportunities to automakers as well as its suppliers. Around 26% share of Northern India is contributed in National GDP. North sector is expected to drive the overall market and is valued at USD 88.0 million in 2016 at the CAGR of 5.72%. According to MRFR analysis, the Indian metal treatment chemicals market is projected to reach USD 378.4 million by 2023 at a CAGR 5.68% over the forecast period.

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The region also advanced from its close proximity to policymakers such as ACMA and SIAM along with major headquarters of OEM’s in North India such as Bajaj Auto, Hero Moto Corp, Honda, JCB, Maruti Suzuki and TATA Motors. West India is the fastest growing segment owing to the presence of considerable producer in automotive, industrial machinery and construction industry along with favorable climatic conditions. Extending construction activities and growing innovation in the electrical & electronic industry in the Western and Southern region has also contributed to strong in the metal treatment chemicals market.

Metal treatment chemicals are used to clean impurities such as stains, scale, and help equal paint bonding on the metal substrate. Environmental conditions like corrosion and abrasion affect the surface of the material causing critical damage. With the application of metal treatment chemicals increases appearance, hardness, tarnish, wear resistance, and improves the metal surface so that it can easily adhere to the various coating material.

India Metal Treatment ChemicalMarket- Top 10 Global key Players & Their Strategy

Market Research Future (MRFR) recognizes the following companies as the key players in the INDIA metal treatment chemical market that includes 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.

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Some of the protuberant factors and trends fostering growth opportunities to the Indian metal treatment chemicals market include growing demand for metal working from prominent end users of metal treatment chemicals such as automotive, aerospace and railways coupled with government expenditure for efficient and cost-effective platting technology. Moreover, government initiatives such as 100% FDI policy and ‘Make in India’ campaign are expected to further offer a lucrative opportunity to the metal treatment chemicals manufactures. Moreover, increasing automotive cluster in India is likely to influence the metal treatment chemical market, positively.

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Segment analysis:

Indian metal treatment chemical market is segmented on the basis of type, application, and region. Based on the type, the market is divided into anodizing and plating chemicals, corrosion protective chemicals, cleaning chemicals, and paint strippers. The anodizing and plating chemicals are hard, durable penetrated in major applications such as electrode coating, anodized layer formation, and electroless plating. The anodizing and plating chemicals account for 32.60% of total market share.

This segment is set to emerge as a preferred choice in the metal treatment chemical industry due to growing advance surface of components in response to stringent regulations in the automotive industry. Cleaning chemicals are used to remove impurities initially in order to achieve smooth finishing surface along with minimizing offensive odor in surrounding area. Cleaning segment is growing considerably and is anticipated to reach USD 75.4 million by 2023. Additionally, to maintain the luster and surface finish, corrosion protection chemicals are used, which is expected to grow significantly at a CAGR of 6.15% over the forecast period.

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This release was published on openPR.