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Surface Treatment Chemicals Market COVID-19 Impact and Opportunities by 2025

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BIS RSRCH
Surface Treatment Chemicals Market COVID-19 Impact and Opportunities by 2025

The market for surface treatment chemicals has been emerging in the modern world over the years, with considerable contribution in the global gross domestic product (GDP). The growing adoption has been witnessed primarily in the end-use industries such as automotive, general industry (construction, electronics, medical, and packaging, among others), aerospace, heavy industries, and coil industry. The growing adoption can be attributed to the increased durability, longevity, aesthetics, corrosion, and weathering resistance characteristics imparted by these chemicals to the base materials over which they are applied.

To cater to the increasing demand, there have been formations of associations, consortiums, collaborations, partnerships, and various other forms of business and corporate strategies between the market players across the industry domains. For instance, Solvay partnered with Honda Aircraft Company for supplying innovative composites and adhesives such as CYCOM 5276-1 prepreg and SURFACEMASTER 905, which is a surfacing film that provides protection against lightning strikes, to Honda’s business jet HA-420. Moreover, BASF SE has been recognized as a supplier for surface treatment solutions to General Motors.

The inter-disciplinary industrial harmony has also been playing a significant role in combating the pandemic COVID-19, through the development of new products, which require surface treatment and are implied for executing the coronavirus. For instance, Solvay partnered with Boeing for supplying high-performance and medical grade transparent films to Boeing (which has been producing face-shields for the hospitals and medical staffs in the U.S., for their protection against this infectious disease). Although end-use industries have been facing difficulties in businesses due to the COVID-19 outbreak, which has impacted the global adoption of surface treatment, the industries are expected to witness fast recovery after the lifting of global lockdowns and resumption of economic activities. This is expected to drive back the growth of the global market to its pre-COVID era in a quick span of time.

The adoption for surface treatment chemicals is prone to various driving and restraining factors. The rising demand for these chemicals from end-use industries, good business relations between the market players across the disciplines, as well as increasing industrialization and urbanization in developing countries, such as China and India, have been driving the market for surface treatments in the present scenario.

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However, the severe impact of COVID-19 on end-use industries, especially automobile, aerospace and real estate businesses is acting as an obstacle for the market growth of surface treatments. Also, the implementation of strict environmental norms, such as Restriction of Hazardous Substances (RoHS), and emergence of new agencies, such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and restriction of Chemicals (REACH) for keeping a check on the harmful chromium contents by surface treatment chemicals, have made manufacturers vigilant on this front. This is restricting the free-flow of surface treatment products into the market.

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