Global Passivating Agents Market: Overview
Passivation agents find utilization in removing a certain substance amongst many materials during the process of chemical mechanical polishing (CMP). The global passivating agents market is a rapidly expanding market, thanks to the accelerated rate of manufacturing of stainless steel equipment all over the world. Passivating agent films, inorganic chemical passivates, and organic oils are some of the common types of passivating agents. It is extensively utilized in the process of coil coating in steel industries. These agents make an offering of temporary protection to those machine parts that are made of stainless steel through diminished reaction of the metals. When applied these agents are able to bring down the rate of corrosion on the surface of respective equipment and tools. This factor is estimated to support growth of the global passivating agents market in the forthcoming years.
Type, application, and region are the three important parameters based on which the global passivating agents market has been classified.
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Global Passivating Agents market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global passivating agents market is mentioned as below:
- In December 2016, One of the most prominent producers of chemicals, BASF SE, successfully acquired Chemetall. The latter is the global surface treatment business of American specialty chemical makers, Albemarle Corporation. With this acquisition, the coating division of BASF is expected to expand its product portfolio and emerge as a better provider of complete solutions.
Some of the prominent organizations in the global passivating agents market comprise the below-mentioned:
- Xi’an Wonder Energy Chemical Co., Ltd
- Sartorelli Depurazione S.r.l.
- Bunge Amorphic Solutions, LLC.
- Delstar Metal Finishing, Inc.
- Condoroil Chemical S.r.l.
- Chemetall GmbH
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Global Passivating Agents market: Key Trends
The global passivating agents market is characterized by the presence of the following restraints, drivers, and opportunities.
Cost Effectiveness and Offering of Better Corrosion Resistance to Shoot Up Demand in the Market
The process of passivation is expected to better corrosion resistance of various metal surfaces, such as stainless steel, aluminum, magnesium, and titanium. It is particularly used in enhancing the corrosion resistance attributes of steel and steel is applied , at times, with the pre-treatment of top coats, such as powdered coats or e-coat. This makes an offering of various additional benefits, such as higher production and diminished operation cost in comparison with other conventional methods, such as electrical continuity, plasma-electrolytic oxidation systems, and various others. These factors are estimated to support growth of the global passivating agents market over the period of assessment, from 2020 to 2030.
Although stainless steel comes with the natural ability to fight corrosion but with the use of passivating agents on its surface, the corrosion resistance ability of stainless steel increases manifold and that too in a very cost effective way. The growth of the global passivating agents market is expected to be influenced by the growing prominence of fields where many equipment or components are exposed to various types of inflammable liquids.
Global Passivating Agents market: Geographical Analysis
Based on geography, Asia Pacific is expected to emerge as a dominant regional force in the global passivating agents market. Such territorial prominence of the region is ascribed to the presence of several oil refineries in the region. India has one of the largest oil refineries and the country is expected to offer highly lucrative growth options for the global passivating agents market in the years to come.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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