India Metal Treatment Chemical Market Overview:
Factors like the growing demand from several end user industries including automotive, defense, railways, construction, industrial machinery, electrical & electronics, and others. In India, rising government initiatives, a surge in disposable income, and others are expected to make significant changes in the intake charts.
The India metal treatment chemical market share has been forecasted to reach a valuation of USD 378.4 million during the forecast period of 2018 to 2023 with a CAGR touching 5.68% during the forecast period.
India Metal Treatment Chemical Market Segmentation:
The Indian metal treatment chemical market, as discussed by MRFR experts in the report, has been segmented on the basis of type and end-user. Both these segments have data regarding factors, growth pockets, dynamics, and others, which will help in easing the process of taking the market further ahead. This will also help in keeping a track of market-related changes and developing strategies for the future.
By type, the study on the Indian metal treatment chemical market has been segmented into corrosion protective, cleaning, anodizing & platting, and paint stripers. The protective segment has chances to register quick growth during the forecast period due to the rising demand from various end user industries.
Regional Analysis:
Changes in FDI policies as a part of government initiatives are expected to boost regional industries like metalworking, construction, and industrial machinery application. The OEM sector is witnessing an unprecedented boost owing to which growth would be substantial in the coming years. Also, the rise in the automotive industry in the Western and Northern parts of India would help the market in growth.
By the end user, the report on the surface treatment chemicals market has been studied on the basis of segments like metalworking, industrial machinery, automotive, construction, electronics & electrical, and aerospace & transportation. The automotive segment is booming in India, which would create better scope for the market to permeate without much hindrances.
Industry News:
The recent COVID-19 outbreak impacted several industries in adverse ways. The chemical market is getting influenced in a significant way as shipment of several chemicals were stalled due to global lockdowns. Several companies suffered huge blows due to this disruption in the supply chain. This led to delays in transport both in areas concerning inter-states and cross-country supply. Consequently, it had a huge impact on the revenue-generation procedure as the manufacturing segment took a huge blow due to this shutting of procedures. However, the changes in regulations for the Unlock 1.0 is expected to transform the market as factories are going to open up with limited strengths and the manufacturing procedures are expected to resume to some extent.
Competitive Landscape:
The Indian metal treatment chemical market is getting amply boosted by several companies like Henkel Adhesives Technologies, BASF India Ltd., Chemtex Speciality Limited, Metalguard Pvt. Ltd., Prime Laboratories, Dimetrics Chemicals, CMP PVT. LTD, Olivine Mercantiles Pvt. Ltd., KCH INDIA PVT. LTD, GTZ India Private Limited, and others. The strength in their contributions lies with their strategic moves and the planning behind them. A demand for better portfolio has led these companies to take mergers, collaborations, and acquisitions seriously. Also, investment in the research and development sector has improved substantially, which means better chances of innovations percolating in the market. Improved launching and branding strategies are also expected to boost the global market procedures. MRFR recorded all the recent claims and changes to simplify the understanding of the global market.
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