Southeast Asia Surface Treatment Chemicals Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Southeast Asia Surface Treatment Chemicals Market Analysis
The Southeast Asia surface treatment chemicals market is expected to register a CAGR of over 6% during the forecast period.
The COVID-19 pandemic outbreak resulted in substantial production losses for the industrial sector owing to prolonged lockdowns, lack of labor, and strict social distancing norms. Many plant expansion projects were put on hold during this period, leading to hindrances in the market demand for surface treatment chemicals. However, with the industrial sector making a steady recovery post-pandemic, order for the surface treatment chemicals market is anticipated to grow during the forecast period.
- Rapid industrialization and growing demand from the automotive and transportation industry are anticipated to serve as the growth engines for the surface treatment market in the region.
- On the flip side, strict regulations governing emissions of volatile organic compounds (VOCs) associated with surface treatment applications could hinder market growth.
- However, the rising awareness about the benefits of surface treatment application in various industries, such as the food & beverage industry, is anticipated to provide future opportunities to the studied market.
- Indonesia is expected to dominate the Southeast Asia surface treatment chemicals market during the forecast period, owing to rapid industrialization and various industrial expansion projects undertaken in the country.
Southeast Asia Surface Treatment Chemicals Market Trends
This section covers the major market trends shaping the Southeast Asia Surface Treatment Chemicals Market according to our research experts:
Growing Application in the Automobile Industry
- In automotive manufacturing, surface treatment is used on metal parts to add texture, boost durability, and improve anti-corrosive qualities.
- According to ASEAN Automotive Federation, the Southeast Asian region witnessed motor vehicle sales rise by 14% in 2021, with over 2.79 million units sold. The production of motor vehicles also grew by 24% during this period, with 3.54 million units produced.
- The rise of electronic vehicles in the market is also anticipated to boost the region's automotive industry, with many vital players planning to invest in manufacturing and distribution facilities across the region.
- For instance, one of China's biggest EV producers and the world's third-biggest batteries supplier, BYD, is planning to build an EV production plant in Thailand, its first-ever plant in Southeast Asia. The plant is expected to begin production by 2024 with an annual capacity of 150,000 vehicles.
- Furthermore, according to a report by the International Renewable Energy Agency, it is anticipated that by 2025, around 20% of the total vehicles on the road in Southeast Asia will be EVs. It is estimated that over 59 million units of two and three-wheelers will be on the road by 2025, with a four-wheeler population anticipated to reach 8.9 million units, with further room for growth considering the population of 661 million people in the Southeast Asian region.
- The automobile industry boom and the potential increase in the usage of plastics, which require surface treatment, in the manufacturing of automobiles are expected to favorably serve the demand for surface treatment chemicals in the region.
Indonesia Expected to Dominate Southeast Asia Region
- Surface treatment chemicals are in high demand in the aerospace and automotive industries. Indonesia is the third-largest motorcycle market globally, following closely after China and India. With motorcycles slowly transitioning into the digital age by featuring advanced connectivity and safety features, the country is anticipated to embrace sustainable mobility.
- According to ASEAN Automotive Federation, in 2021, motor vehicle sales witnessed a year-on-year growth of 67% in Indonesia, while production saw a year-on-year increase of 63% during the same period. The total sales and production figures reached 887,202 and 1,121,967 vehicle units, respectively.
- On the other hand, the F&B industry is also witnessing major expansion across the country. For instance, in 2021, Kerry Group announced its plan to invest EUR 30 million (USD 36.2 million) to construct a new manufacturing facility in Indonesia.
- According to the CEO of Global Taste, the Southeast Asian taste market is valued at over EUR 900 million (USD 1.05 billion) and is anticipated to grow in strong single digits in the coming years, providing more opportunities for development and expansion.
- The growth and expansion of major industries, such as the automotive and food & beverage industries, are anticipated to drive demand for the surface treatment chemicals market in the country.
Southeast Asia Surface Treatment Chemicals Industry Overview
The surface treatment chemicals market in Southeast Asia is fragmented in nature. Some key players in the market are Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION, and The Sherwin-Williams Company, among others.
Southeast Asia Surface Treatment Chemicals Market Leaders
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Nippon Paint Holdings Co. Ltd.
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Henkel AG & Co. KGa
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PPG Industries Inc.
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NOF CORPORATION
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Southeast Asia Surface Treatment Chemicals Market News
- April 2022: To cater to the growing machining sector in India and the Southeast Asian market, CemeCon established its Indian subsidiary CemeCon Coating Pvt. Ltd. in Pune, India, to serve a potential customer base across ASEAN countries and India.
- September 2021: Houston-based CRW Consulting & Distribution and Kuala Lumpur-based Blast Abrasives Supply announced a strategic partnership in a bid to promote and develop the sales of Corr-Ze Products, a metal surface preparation product, across the Southeast Asia region.
Southeast Asia Surface Treatment Chemicals Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Rapid Industrialization Across the Region
- 4.1.2 Growing Demand from Automotive & Transportation Industry
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4.2 Restraints
- 4.2.1 Stringent Regulations on VOCs Released from the Application of Surface Treatment Chemicals
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Chemical Type
- 5.1.1 Plating Chemicals
- 5.1.2 Cleaners
- 5.1.3 Conversion Coatings
- 5.1.4 Other Chemical Types
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5.2 Base Material
- 5.2.1 Metals
- 5.2.2 Plastics
- 5.2.3 Other Base Materials
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5.3 End-user Industry
- 5.3.1 Automotive & Transportation
- 5.3.2 Construction
- 5.3.3 Electronics
- 5.3.4 Industrial Machinery
- 5.3.5 Other End-user Industries
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5.4 Geography
- 5.4.1 Singapore
- 5.4.2 Indonesia
- 5.4.3 Thailand
- 5.4.4 Philippines
- 5.4.5 Malaysia
- 5.4.6 Rest of Southeast Asia
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Chemetall GmbH
- 6.4.2 ChemTech Surface Finishing Pvt. Ltd.
- 6.4.3 Henkel AG & Co. KGa
- 6.4.4 JCU CORPORATION
- 6.4.5 Nihon Parkerizing Co. Ltd
- 6.4.6 Nippon Paint Holdings Co. Ltd
- 6.4.7 NOF CORPORATION
- 6.4.8 OC Oerlikon
- 6.4.9 PPG Industries Inc.
- 6.4.10 Siam YUKEN Co., Ltd.
- 6.4.11 The Sherwin-Williams Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Rising Awareness About the Benefits of Surface Treatment in Industries
Southeast Asia Surface Treatment Chemicals Industry Segmentation
Surface treatment is an additional process applied to the surface of any material using different chemicals to improve the overall resistance to corrosion and general wear and tear. It also helps improve other material characteristics, such as texture, appearance, and other aspects. The Southeast Asia surface treatment chemicals market is segmented by chemical type, base material, end-user industry, and geography. By chemical type, the market is segmented into plating chemicals, cleaners, conversion coatings, and other chemical types. By base material, the market is segmented into metals, plastics, and other base materials. By end-user industry, the market is segmented into automotive & transportation, construction, electronics, industrial machinery, and other end-user industries. The report covers market sizes and forecasts for five major regional countries. For each segment, market sizing and forecasts have been done based on value (USD million).
| Chemical Type | Plating Chemicals |
| Cleaners | |
| Conversion Coatings | |
| Other Chemical Types | |
| Base Material | Metals |
| Plastics | |
| Other Base Materials | |
| End-user Industry | Automotive & Transportation |
| Construction | |
| Electronics | |
| Industrial Machinery | |
| Other End-user Industries | |
| Geography | Singapore |
| Indonesia | |
| Thailand | |
| Philippines | |
| Malaysia | |
| Rest of Southeast Asia |
Southeast Asia Surface Treatment Chemicals Market Research FAQs
What is the current Southeast Asia Surface Treatment Chemicals Market size?
The Southeast Asia Surface Treatment Chemicals Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Southeast Asia Surface Treatment Chemicals Market?
Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGa, PPG Industries Inc., NOF CORPORATION and The Sherwin-Williams Company are the major companies operating in the Southeast Asia Surface Treatment Chemicals Market.
What years does this Southeast Asia Surface Treatment Chemicals Market cover?
The report covers the Southeast Asia Surface Treatment Chemicals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Southeast Asia Surface Treatment Chemicals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Southeast Asia Surface Treatment Chemicals Industry Report
Statistics for the 2024 Southeast Asia Surface Treatment Chemicals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Southeast Asia Surface Treatment Chemicals analysis includes a market forecast outlook to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
