Press Release

Vietnam Surface Treatment Market to Grow with a CAGR of 3.56% through 2028

Surge in research and development activities is expected to drive the Vietnam Surface Treatment Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Vietnam Surface Treatment Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Vietnam Surface Treatment Market stood at USD115.64 million in 2022 and is anticipated to grow with a CAGR of 3.56% in the forecast period, 2023-2028. The initiatives taken by government based on surface treatment has led to favorable market conditions for the Vietnam Surface Treatment Market. Several factors contribute to the growth of various surface treatment market products.  The Vietnamese government, recognizing the importance of public health, has established collaborations with renowned organizations such as the World Health Organization and the Center for Disease Control Prevention. These partnerships serve to enhance the overall well-being of the population. While the immediate focus may not be on surface treatment, this emphasis on safety and health implies a comprehensive approach to regulating the use of chemicals in various sectors, including surface treatments. Additionally, the government's comprehensive five-year socio-economic development plan plays a pivotal role in shaping the surface treatment market. This strategic plan encompasses various aspects of industrial growth and development, which inevitably influences the demand for surface treatment processes. By fostering favorable conditions for industries to thrive, the government indirectly stimulates the need for effective surface treatments to ensure the durability and quality of products across sectors.

 

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Surface Treatment Market

 

Research and development activities in the metalworking industry are playing a crucial and pivotal role in driving the Vietnam surface treatment market. As technologies continue to advance at a rapid pace, the demand for highly efficient, durable, and high-performance metals has significantly increased. This surge in demand has prompted continuous innovations in surface treatment processes, leading to the development of cutting-edge techniques and methodologies. These surface treatment processes serve to enhance the overall performance of metals by improving their corrosion resistance, hardness, and aesthetic appeal. By incorporating advanced surface treatment methods, metals become more resilient, long-lasting, and visually appealing, making them exceptionally suitable for a wide range of applications across various industries.

The Vietnam Surface Treatment Market is segmented in chemical type, end user, regional distribution, and company.

Based on its end user, the transportation segment held the largest share in the market. Additive manufacturing, also known as 3D printing, is revolutionizing the transportation industry in Vietnam's surface treatment market. By leveraging this cutting-edge technology, vehicle parts can now be customized with precision, resulting in improved quality and performance.

Additionally, the use of additive manufacturing reduces transportation and storage costs, making it a cost-effective solution for businesses. This has led to a significant increase in demand for surface treatments that can further enhance the durability and functionality of printed components. As a result, additive manufacturing is playing a crucial role in shaping the future of transportation in Vietnam, offering endless possibilities for innovation and growth.

Based on region, Central segment is expected to grow during the forecast period.

The construction industry in the central region is experiencing significant growth, which is further fueling the demand for surface treatments. This surge in demand can be attributed to the increasing need for paints, varnishes, and other coatings in this sector. Moreover, the utilization of construction chemicals, including concrete admixtures and protective coatings for surface treatments, is witnessing a notable upward trend. As the construction industry continues to thrive, the market for surface treatments is poised for continued expansion and innovation.

Major companies operating in Vietnam Surface Treatment Market are:

  • Henkel AG
  • Chemetall Ltd
  • JCU Corporation
  • Solvay Chemicals International SA
  • Platform Specialty Products Corp.

 

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“Growing application of surface treatment in various end user industries are key drivers of the surface treatment market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of surface treatment with every passing year are anticipated to register an impressive growth to Vietnam Surface Treatment Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Vietnam Surface Treatment Market By Chemical Type (Cleaners, Plating Chemicals, Conversion Coating, Others), By End User (Transportation, Construction, Packaging, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Vietnam Surface Treatment Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam Surface Treatment Market.


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