How is the trend for Chemicals in India?

Rising demand for metal components in industrial machinery, electronics & electrical, construction and transportation industry are anticipated to augment market growth. Moreover, rising government initiatives to boost the production of machine tools namely in automotive and railway sector are expected to drive the market growth.

The Indian metal treatment chemical market is likely to witness a substantial growth at a CAGR of 5.68% and is projected to reach USD 378.4 million by the end of 2023.

India Metal Treatment Chemicals Market Research Report 2023

Metal treatment chemicals are used for removing scale, stain and inorganic contaminants. These chemicals are a part of surface treatment chemicals used mainly for cleaning, anodizing and smooth bonding paints on any metal substrate. Based on various metal treatment chemicals types, the anodizing & platting is leading the segment, which held a 32.6% market share in 2016. Anodizing & platting is set to emerge as the preferred choice in metal treatment chemicals owing to easy penetration of anodizing hard coating for numerous application such as electrode coating, anodized layer formation, and electroless plating. Cleaning chemicals segment witnessed a substantial growth and is expected to reach USD 75.4 million by 2023. These chemicals are the first stage of surface metal treatments as they are used to remove scale, contaminants, and dust from the metal substrate thereby, providing a durable and hygienic environment for metal. However, to maintain luster and smooth finish under extreme temperature, corrosion protection chemicals are gaining high importance and are expected to grow at a CAGR of 5.81% during the forecast period.

India metal treatment chemicals are used in various application such as automotive & components, metalworking, industrial machinery, electronics & electrical, construction & infrastructure, aerospace & transportation.

The prominent application automotive & OEM components segment is anticipated to reach USD 124.8 million by 2023 at a CAGR of 6.14% during the forecast period 2017-2023.

Growing production and sales of automobile in India are likely to boost the market growth further. To maintain the smooth surface finish and optimum paint adhesion, auto components are treated with chemicals for long-term corrosion protection. Thus, this segment is anticipated to retain its dominance over the forecast period. Rising concern over continual repair of warranty parts has led to high demand for the product in various applications, especially electrical & electronic products. Construction & infrastructure segment is projected to witness a considerable CAGR of 5.81% during the review period due to growing government expenditure to boost tourism activity. Furthermore, development in metal work industry such as minimal complex process and technology advancement has led to positive growth.

Regional analysis

India metal treatment chemicals market is further segregated into four sectors such as North, East, West, and South. The northern sector offers a lucrative opportunity to the automakers and its suppliers owing to close proximity to the raw material manufacturers and policymakers such as ACMA and SIAM. Major automotive companies such as Bajaj Auto, Hero Moto Corp, Honda, JCB, and Maruti Suzuki also owns headquarter and capture a major share in this sector. Growing automotive sales in the North sector is valued at USD 88.0 million in 2016 which accounts for the highest CAGR of 5.72% during the assessment period. Moreover, the rapid growth in industrial machinery and government initiatives such as 100% FDI in the automotive industry are driving the growth of the metal treatment chemicals market. The western region of India emerged as a huge potential sector due to the presence of considerable market participants and favorable climatic condition. Moreover, growing infrastructure activities and rise in the SME’s (small-medium enterprise) in the Southern region are likely to propel the growth of India metal treatment chemicals market.

Segmentation

India metal treatment chemical market is segmented into types and application. Based on the type, the market is segregated as anodizing & platting, corrosion protective, cleaning, paint stripers. On the basis of the application, the market is divided into automotive & components, metalworking, industrial machinery, electronics & electrical, construction & infrastructure, and aerospace & transportation.

Key Players

Some of the key players in the India metal treatment chemical market are BASF India Ltd., Henkel Adhesives Technologies, Metalguard Pvt. Ltd., Chemtex Speciality Limited, CMP PVT. LTD, Dimetrics Chemicals, KCH INDIA PVT. LTD, Olivine Mercantile Pvt. Ltd., Prime Laboratories and GTZ India Private Limited among others.

Key Findings

According to Market Research Future analysis, India metal treatment chemicals market is projected to reach USD 378.4M 2023 at a CAGR of 5.68% during the review period, 2017-2023. Anodizing & platting segment is dominating the market followed by the corrosion protection chemical market. Increasing investment in R&D by automakers for efficient, cost-effective and eco-friendly platting technology is expected to drive the market growth. Automobile & component segment accounted for the highest market share and is anticipated to retain its dominance over the forecast period. Rising automotive cluster such as BharatBenz, Ford India, and Hyundai Motor India Limited in the Southern region are expected to augment the market growth. Corrosion protection chemicals witnessed highest CAGR due to rising adoption of the product to increase durability and flexibility coupled with smooth surface finish. However, strong demand for machine tools in end-use industries such as industrial machinery and transportation are some of the factors fueling the market growth.

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Bio-based Chemicals Industry

Global Bio-based Platform Chemicals Market Research Report and Forecast 2023 

Bio-based platform chemicals represent a group of twelve building block chemicals which are derived from natural origin or biomass such as trees, plants, and animals. They can be produced from sugar via biological conversions and are important precursors for producing a variety of chemicals and materials such as perfumes, fuels, polymers, and pharmaceuticals among others. Different bioplastics such as polylactic acid, bio-polyethylene, and polyhydroxyalkanoates are produced from bio-based chemicals, which are largely used in cutlery, crockery, straws, pots, and bowls.

Bio-based chemicals market report 2023 

According to the analysis, the global bio-based platform chemicals market is expected to grow significantly during the forecast period. Based on product type, the global bio-based platform chemicals market has been segmented into sugar, syngas, biogas, oil, algae, others. The sugar segment dominated the market in 2017 and is expected to reach USD 4,635.2 million during the review period owing to the surging demand for bio-based sugar in Asia-Pacific and Europe. Sugar segment is projected to grow at the highest CAGR of 13.55% during the forecast period with a valuation of USD 2,174.7 million in 2017. 

Furthermore, the syngas segment is projected to grow at a remarkable CAGR of 12.79% during the assessment period. On the basis of application, the global bio-based platform chemicals market has been categorized into polymers, fuels, solvents, pharmaceuticals, perfumes, and others. Polymers segment accounted for the largest market share in 2017 and is projected to grow at the highest CAGR of 13.74% in the coming years. Bio-based polymers have diverse applications in various end-use industries, such as building and construction, automotive, and consumer goods.

Furthermore, stringent regulations on the usage of petroleum-based chemicals are projected to drive the bio-based chemicals market in the following years. Growing concerns on eco-friendly bio-based chemicals have shifted consumers preference towards bio-based platform chemicals which provides lucrative opportunities to the market players. Surging demand for bio-based chemicals from emerging economies, such as Russia, Italy, Spain, and Latin American countries further provides opportunities to the market players.

However, high manufacturing costs of the product and raw material shortage hamper the global bio-based platform chemicals market growth. As per the analysis, the global market is expected to reach USD 10,205.4 million by 2023 and is projected to grow at a robust CAGR of 12.67% during the forecast period.

Regional Analysis

The global bio-based platform chemicals market has been analyzed across five key regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The Asia-Pacific market is projected to account for the largest share in 2017 and is expected to grow at the highest CAGR of 13.79%, during the forecast period, due to the highest production and consumption of the products in the region. Easy availability of feedstock, adoption of bio-based products, government support, increasing awareness about green chemicals, and business sustainability programs are the major factors driving the regional market growth. China dominated the market in 2017 and was valued at USD 530.5 million with an encouraging CAGR of 15.76% during the assessment period. The European market accounted for the second-largest share due to the government support for bio-based chemicals, technological developments, and increasing development of value chains with bio-based raw materials. Germany was the leading country in the region in 2017 and is expected to grow at a healthy CAGR of 12.98%. The North American market accounted for a significant market share and is expected to grow at a substantial CAGR of 11.75% in the coming years due to consumer shift towards bio-based products, low-cost and easy availability of feedstock, and government policies. The US was the leading country in the region and was valued at USD 534.6 million and is projected to grow at a remarkable CAGR during the review period. The Latin American market accounted for moderate market share and is anticipated to grow at a steady CAGR in the following years owing to large production in Brazil. The Middle East & Africa is projected to grow at a high CAGR of 13.18% during the forecast period.

Segmentation

• The global bio-based platform chemicals market has been segmented on the basis of product type, application, and region.
• Based on product type, the global bio-based platform chemicals market has been classified into sugar, syngas, biogas, oil, algae, and others.
• By application, the global bio-based platform chemicals market has been categorized into polymers, fuels, solvents, pharmaceuticals, perfumes, and others.
• The global bio-based platform chemicals market has been studied across five key regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Key Players

Braskem (Brazil), BioAmber Inc (US), Qingdao Kehai Biochemistry Co., Ltd (China), Itaconix PLC (UK), Zhejiang Guoguang Biochemistry Co., Ltd (China), GFBiochemicals Ltd (The Netherlands), Reverdia (The Netherlands), GC Innovation America (US), Cargill, Incorporated. (US), Mitsubishi Chemical Corporation (Japan), AVA Biochem AG (Switzerland), LyondellBasell Industries NV (The Netherlands), Royal DSM NV (The Netherlands), and BASF SE (Germany) are some of the prominent players operating in the global bio-based platform chemicals market.

Key Findings

• Global Bio-based platform chemicals market was valued at USD 5,017.2 million in 2017 and is projected to reach USD 10,205.4 million by 2023.
• Asia-Pacific was the largest market and was valued at USD 2,078.4 million in 2017 expanding at a robust CAGR of 13.79%. 
• As per the analysis, China was the leading market and was valued at USD 530.5 million and is projected to grow at a dynamic CAGR of 15.76% during the assessment period.
• Based on product type, the sugar segment dominated the global bio-based platform chemicals market with a robust CAGR of 13.55%
• By application, the polymers segment accounted for the largest market share in 2017, with significant market shares and is estimated to grow at a healthy CAGR of 13.74%.
• Asia-Pacific is a growing market for key market players during the forecast period due to favorable government policy, easy availability of feedstock, large consumer base, and technological developments have increased the importance of bio-based platform chemicals in this region among the industry players.

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