In the metal treatment chemicals market in India, different types of chemicals play crucial roles. These include corrosion protective chemicals, anodizing and plating chemicals, cleaning chemicals, paint strippers, and more. Among these, anodizing and plating chemicals hold the most significant market share, contributing to 32.6% in 2017. Additionally, corrosion protective chemicals are expected to be the fastest-growing segment, with a projected compound annual growth rate (CAGR) of 6.15% over the forecast period.
The applications of metal treatment chemicals in India cover various sectors, including electronics & electrical, metal treatment, automotive OEM & components, construction and infrastructure, and industrial machinery. The automotive & components segment is the leading application, making up 32% of the overall market share in 2017. It is predicted to be a high-growth and high-volume segment in the Indian metal treatment chemicals market.
Looking at the geographical distribution, the North sector holds the largest share, accounting for 34% of the overall market. This dominance is attributed to the concentration of automotive clusters in the region. The North sector is expected to reach a value of USD 129 million by the end of 2023.
The metal treatment chemicals market in India is diversified, with different types of chemicals playing distinct roles. Among these, anodizing and plating chemicals lead the market, while corrosion protective chemicals show high growth potential. In terms of applications, the automotive & components segment is the primary driver, showcasing both substantial market share and growth. Geographically, the North sector stands out, benefitting from its automotive industry concentration. As the market continues to evolve, these factors will play pivotal roles in shaping the trajectory of the metal treatment chemicals market in India.
ยฉ 2024 Market Research Future ยฎ (Part of WantStats Reasearch And Media Pvt. Ltd.)
