The market research report, entitled Surface Treatmentshows good possibilities in the Surface Treatmentmarket during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Surface TreatmentMarket Forecast:
The global Surface Treatmentmarket is forecasted to grow at a rate of 4.4% CAGR during the period of 2021-2026. Surface TreatmentMarket will be experiencing an escalation in demand attributed to the growing usage of Surface Treatmentin the market. The XYZ market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
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Some linchpins in the market are
BAE Systems Plc., Cobham Plc., Honeywell International Inc., Microsemi Corporation, and Texas Instruments
Surface TreatmentMarket Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Surface Treatmentmarket segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Atotech Deutschland GmbH
Element solution Inc.
Henkel Ag & Co.
Nippon Paint Co., Ltd
Nihon Parkerizing Co., Ltd
Quaker Chemical Corporation
Growth drivers and Market Value:
This report, from Stratview Research, studies the Surface Treatment Market value and growth drivers over the trend period of 2021-26. According to the report –
Surface Treatment is a process of enhancing the properties including hardness, wear- and corrosion resistance, etc. of various surfaces. High quality and excellent durability can be achieved through efficient surface treatment processes. It is also a proven method for eliminating sludge generation in metals and maintaining excellent corrosion protection. The process usually involves cleaning, activation, phosphating, and passivation.
The impact of the COVID-19 pandemic on the demand for surface treatments is different in different end-use industries. On one side, automotive and aerospace, the two major markets, registered a colossal downfall in the demand for surface treatments amid the pandemic. Another side, metal processing, and aluminum finishing, the other two major markets, witnessed a mild impact of the pandemic. Overall, the global surface treatment market experienced a low double-digit decline in 2020, reaching a value of US$ 3.8 billion. An expected bounce-back is expected from 2021 onwards with sequential growth in the succeeding years, pushing the market to cross an unprecedented level of US$ 5,0 billion in 2026.
Based on Chemical Type:
Based on the chemical type, the surface treatment market is segmented as cleaners, conversion coatings, paint strippers, activation & passivation agent, and others. Cleaners are estimated to maintain their huge dominance in the market during the forecast period in the wake of their wide use in mass volumes in several applications. Traditional alkaline-based cleaners have high dominance in the segment; however, there is a trend of low-temperature surfactants along with an increasing preference for boron- and phosphate-free sustainable products.
Based on Region:
North America is expected to remain the largest market for surface treatments during the forecast period in terms of regions. The USA is the vanguard of the region’s market. On the other hand, Asia-Pacific is rich with lucrative growth opportunities over the forecast period as China and India are the key emerging countries and are consequentially gaining traction. Different regions are dominant in different market segments. For instance, the aluminum cans market segment is dominated by the North America region, whereas the Automotive market segment is dominated by Asia-Pacific region.
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COVID-19 IMPACT Analysis on Surface TreatmentMarket
Coronavirus has influenced every one of the organizations, little or large, dealing in any sector. The growth curves of XYZ market have seen immense fluctuations in the year 2021. The market scenario and the pace of growth have taken a colossal turn and have prompted numerous adjustments in the cycles, which will have repercussions for a significant stretch. 2021 is probably going to be superior to 2021 for the XYZ market players as the greater part of the organizations have continued their activities and the interest is getting reestablished for them.
Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2021 to 2026.
The assessment of the pandemic reveals an enormous transformation in both short, as well as long-term regional business. With some barriers along the road, the Surface Treatmentmarket stakeholders hope to regain stability in 2021, with flourishing demand and a hassle-free market environment. In terms of region, North America and Russia held the major chunk of the market in and before 2021. Despite several setbacks and the pandemic’s impact, the regions having the presence of key players, are likely to maintain their dominance in the upcoming years. According to the report, North America. region is expected to handle the crisis most efficiently, growing at the highest rate during the five-year tenure and is expected to become the next potential manufacturing hub.
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.