India Metal Treatment Chemical Market Size To Expand at a Notable CAGR Of 5.68% During 2023 - 2032

Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global India Metal Treatment Chemical Market 

Overview:

India Metal Treatment Chemical Market 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.

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. 

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.

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.

Browse Complete Report Details @ India Metal Treatment Chemical Market Size