The India Metal Treatment Chemical Market is expected to grow at a CAGR of 5.68% to reach USD 378.4 million by the end of 2023.
Zinc stearate market overview:
Zinc Stearate market is expected to grow USD 378.4 million at a CAGR 5.68% during the forecast period. Zinc stearates are formed from the combination of stearic acid and zinc oxide and are utilized in several industrial applications. Due to the sharp melting point, excellent lubricating properties, separating properties, repellence, gelling, stabilizing, foam inhibition, and significant others. Such factors have made zinc stearate stand out from other stearates and thereby deployed across end-user industries such as pharmaceutical, cosmetics, plastics manufacturing, paper, construction, and others. The industrial boom in developed countries like China and the increasing demand for plastic production is uplifting the overall growth of the Zinc Stearate industry in recent years.
The requirement for appearance enhancement of the rubber and plastics and the increasing rubber production because of the demand for efficient transportation is considered the major drivers of Zinc stearate market growth. The intensive utilization across the paper industry and pharmaceutical industry and the advancements in these industries are expected to propel the overall growth of the Zinc Stearate industry during the forecast period. Developed countries like Europe, and North America are exhibiting higher growth rates in the Zinc stearate industry because of the developing infrastructure and improved economic conditions. Also, the utilization of Zinc stearates as releasing agents, emulsifiers, and thickening agents is increasing their utilization overall and thereby impacting the Zinc stearate market growth.
India Metal Treatment Chemical Market Share, by Type, 2016 (%)
Sources: MRFR Analysis
The Indian Metal Treatment Chemical Market is growing at a significant CAGR due to the ongoing development of key industries like automotive, construction, and transportation. Government initiative of 100% FDI policy in the automotive sector has increased the production and sales of vehicles thereby, rising demand for metal treatment chemicals in the automotive industries. Moreover, urban and rural development projects have also opened new opportunities for metal treatment in construction, metalworking, and industrial machinery application. Rising automotive production in the North sector is expected to drive the overall market and is valued at USD 88.0 million in 2016 at the highest CAGR of 5.72%. West sector project a huge growth potential for metal treatment chemical market owing to diverse industrial growth and the presence of key leading producers. An emerging cluster of the automotive industry in the southern region of India such as BharatBenz, Ford India, Hyundai Motor India Limited and Ashok Leyland among others are expected to drive the Metal Treatment Chemical Market. Apart from this, expanding construction activities and small metalworking industries in Western and Southern regions of India are driving the Metal Treatment Chemical Market.
The Indian Metal Treatment Chemical Market is segmented on the basis of Type and End-User. On the basis of the Type, the market is segmented into anodizing & platting, corrosion protective, cleaning, paint stripers. By the End User, the India metal treatment chemical market is automotive, metalworking, industrial machinery, electronics & electrical, construction, and aerospace & transportation.
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 Mercantiles Pvt. Ltd., Prime Laboratories and GTZ India Private Limited among others
The Indian Metal Treatment Chemical Market is projected to reach USD 378.4 million by 2023 at a CAGR of 5.68% during the review period, 2017-2023. Among all, the anodizing and platting segment is leading type of metal treatment chemical market. Corrosion protective chemicals protect the metal components from degradation due to oxidation or exposed to moisture and salt spray. Moreover, to maintain smooth surface texture, corrosion protection chemicals are expected to retain its dominance over the forecast period. Among these applications, the automotive & component segment is accounted for the largest market share in 2016. Growing continual repair of warranty parts drives the demand for metal treatment chemicals from the automotive industry. Furthermore, to increase the durability of metal along with maintaining surrounding free from containment, cleaning chemicals are anticipated to drive metal treatment chemical market. Rising government initiatives coupled with increasing environmental-friendly chemical formulation is anticipated to drive the Indian Metal Treatment Chemical Market.Recent Development
One of the leading market players, Baerlocher had introduced Zinc stearate SW-100 powder, with beneficiary characteristics such as medium bulk density, good flow, and supreme blending characteristics which are expected to offer supreme lubrication, mold release properties, and dispersion properties. Therefore Zinc stearate SW-100 can be utilized for applications that possess self-lubricating components. Its consistency over the chemical and mechanical properties combined with the quality have gained itself FDA approval under indirect food contact applications.
Valtris Specialty chemicals are considered as one of the leading market players had developed Synpro Zinc stearate S-1058 which is manufactured with fine techniques specially prepared for low viscosity dispersions. It also exhibits beneficiary features such as good viscosity control, and surface quality, and is capable of combining fine particle sizes with lower liquid absorption.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||Increasing demand for the automobile, auto components, and defense & railways sectors.|
|Key Market Drivers||Rising initiative by government favoring the metalworking.|
India Metal Treatment Chemical market is predicted to grow at 5.68% through forecast period of 2020-2027.
The forecast period for India Metal Treatment Chemical market research report is 2020-2027.
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