Market Overview:
The global stainless steel passivation agent market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for stainless steel in various end-use industries, such as petrochemical industry, refinery industry, automobile industries, hydrogen plants and sea water applications. In addition, the growing nuclear power sector is also anticipated to fuel the demand for stainless steel passivation agents during the forecast period. On the basis of type, nitric acid was observed as one of the leading segments in terms of revenue share in 2017 and is projected to maintain its dominance throughout 2030. This can be attributed to its high reactivity towards metals and ability to form an oxide layer on metal surfaces that inhibits corrosion.
Product Definition:
A stainless steel passivation agent is a chemical that is used to clean and protect stainless steel surfaces from corrosion. The importance of using a stainless steel passivation agent is that it helps to maintain the corrosion resistance of the metal surface, which can prolong the life of the equipment.
Nitric Acid:
Nitric acid is a strong, corrosive, and colorless liquid that belongs to the family of chemicals known as nitrates. It is used in various end-use industries such as food & beverages, pharmaceuticals, pesticides & herbicides and others. The growing demand for stainless steel across various end-use industries such as automotive industry due to its superior properties including corrosion resistance has been driving the global market over the past few years.
Citric Acid:
Citric acid is a weak organic acids having the formula (CH3)2CO2H. It is usually manufactured by chemical synthesis of fruit juice or lemons and has a sour taste. Citric acid can be used as an antiseptic, preservative, flavoring agent in food & beverages and cosmetics industries.
Application Insights:
The global stainless steel passivation agent market is segmented on the basis of application into automobile industries, refinery industry, petrochemical industry, hydrogen plants and sea water applications. The automotive application accounted for a major share in 2017 and is expected to maintain its dominance over the forecast period. Passivation agents are used to enhance the surface finish of automobiles by imparting a smooth luster free from scratches or pits.
Passivating agents are also used in aerospace components including turbines, compressors blades and turbines where high corrosion resistance is required. They protect against further corrosion by forming a protective coating on metal surfaces which prevents further oxidation reactions due to film deposition as well as promote adhesion between subsequent layers during paint coatings process thereby improving long-term preservation outcomes.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing per capita income, changing lifestyle, and rising environmental concerns among consumers. As a result of these factors, demand for automobiles has increased in recent years which has led to an increase in stainless steel production. This factor is also likely to boost market growth over the next eight years.
The presence of major stainless steel manufacturers including POSCO Corporation; Nippon Steel & Sumitomo Metal Corp.; JFE Corporation; and SKM Co., Ltd.; have driven industry expansion in Asia Pacific region since 2005. China emerged as a global leader with regard to stainless steel production owing to low labor cost coupled with easy availability of raw materials such as iron ore and coal bed methane (CBM). In addition, increasing foreign investments are anticipated favorably impact overall industry development over the coming years.
Growth Factors:
- Increasing demand from end-use industries: The global stainless steel passivation agent market is witnessing a significant growth due to the increasing demand from various end-use industries such as automotive, construction, and aerospace.
- Growing awareness about the benefits of using stainless steel passivation agents: The growing awareness about the benefits of using stainless steel passivation agents is another key factor driving the market growth. These agents help in improving corrosion resistance and surface finish of stainless steels, which in turn enhances their performance and durability.
- Rising investments in R&D activities: Key players operating in the global Stainless Steel Passivation Agent market are investing heavily in R&D activities to develop new and innovative products that can cater to the specific needs of different end-use industries. This is likely to boost the overall market growth over the forecast period.
- Technological advancements: The development of new technologies that can improve product performance is also propellingthegrowthofthestainlesssteelpassivationagentmarketacrosstheglobe .Forinstance,theintroductionofnanotechnologybasedpassivatingagentshashelpedinimprovingcorrosionresistanceandsurfacefinishofstainlesssteelproducts .Thisislikelytobesupportedbytherisingdemandforhighqualitystainlesssteelproductsfromvariousend-usenindustries .
Scope Of The Report
Report Attributes
Report Details
Report Title
Stainless Steel Passivation Agent Market Research Report
By Type
Nitric Acid, Citric Acid, Chromate, Red Lead, Calcium Plumbate, Others
By Application
Petrochemical Industry, Refinery Industry, Automobile Industries, Hydrogen Plants, Sea Water Applications, Nuclear Plants, Others
By Companies
EnPro Industries, Astro Pak, Solvay, Chemetall Group, Condoroil Chemical, Henkel, Delstar Metal Finishing, Pragochema Spol, Greensolv, Sartorelli Depurazione, Avesta Finishing Chemicals, Bunge Amorphic Solutions, Xinchang Chemicals
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Stainless Steel Passivation Agent Market Report Segments:
The global Stainless Steel Passivation Agent market is segmented on the basis of:
Types
Nitric Acid, Citric Acid, Chromate, Red Lead, Calcium Plumbate, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petrochemical Industry, Refinery Industry, Automobile Industries, Hydrogen Plants, Sea Water Applications, Nuclear Plants, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- EnPro Industries
- Astro Pak
- Solvay
- Chemetall Group
- Condoroil Chemical
- Henkel
- Delstar Metal Finishing
- Pragochema Spol
- Greensolv
- Sartorelli Depurazione
- Avesta Finishing Chemicals
- Bunge Amorphic Solutions
- Xinchang Chemicals
Highlights of The Stainless Steel Passivation Agent Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Nitric Acid
- Citric Acid
- Chromate
- Red Lead
- Calcium Plumbate
- Others
- By Application:
- Petrochemical Industry
- Refinery Industry
- Automobile Industries
- Hydrogen Plants
- Sea Water Applications
- Nuclear Plants
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Stainless Steel Passivation Agent Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A stainless steel passivation agent is a chemical that helps protect stainless steel from corrosion.
Some of the major players in the stainless steel passivation agent market are EnPro Industries, Astro Pak, Solvay, Chemetall Group, Condoroil Chemical, Henkel, Delstar Metal Finishing, Pragochema Spol, Greensolv, Sartorelli Depurazione, Avesta Finishing Chemicals, Bunge Amorphic Solutions, Xinchang Chemicals.
The stainless steel passivation agent market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Stainless Steel Passivation Agent Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Stainless Steel Passivation Agent Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Stainless Steel Passivation Agent Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Stainless Steel Passivation Agent Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Stainless Steel Passivation Agent Market Size & Forecast, 2020-2028
4.5.1 Stainless Steel Passivation Agent Market Size and Y-o-Y Growth
4.5.2 Stainless Steel Passivation Agent Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Nitric Acid
5.2.2 Citric Acid
5.2.3 Chromate
5.2.4 Red Lead
5.2.5 Calcium Plumbate
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Petrochemical Industry
6.2.2 Refinery Industry
6.2.3 Automobile Industries
6.2.4 Hydrogen Plants
6.2.5 Sea Water Applications
6.2.6 Nuclear Plants
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Stainless Steel Passivation Agent Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Stainless Steel Passivation Agent Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Nitric Acid
9.6.2 Citric Acid
9.6.3 Chromate
9.6.4 Red Lead
9.6.5 Calcium Plumbate
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Petrochemical Industry
9.10.2 Refinery Industry
9.10.3 Automobile Industries
9.10.4 Hydrogen Plants
9.10.5 Sea Water Applications
9.10.6 Nuclear Plants
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Nitric Acid
10.6.2 Citric Acid
10.6.3 Chromate
10.6.4 Red Lead
10.6.5 Calcium Plumbate
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Petrochemical Industry
10.10.2 Refinery Industry
10.10.3 Automobile Industries
10.10.4 Hydrogen Plants
10.10.5 Sea Water Applications
10.10.6 Nuclear Plants
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Nitric Acid
11.6.2 Citric Acid
11.6.3 Chromate
11.6.4 Red Lead
11.6.5 Calcium Plumbate
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Petrochemical Industry
11.10.2 Refinery Industry
11.10.3 Automobile Industries
11.10.4 Hydrogen Plants
11.10.5 Sea Water Applications
11.10.6 Nuclear Plants
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Nitric Acid
12.6.2 Citric Acid
12.6.3 Chromate
12.6.4 Red Lead
12.6.5 Calcium Plumbate
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Petrochemical Industry
12.10.2 Refinery Industry
12.10.3 Automobile Industries
12.10.4 Hydrogen Plants
12.10.5 Sea Water Applications
12.10.6 Nuclear Plants
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Nitric Acid
13.6.2 Citric Acid
13.6.3 Chromate
13.6.4 Red Lead
13.6.5 Calcium Plumbate
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Petrochemical Industry
13.10.2 Refinery Industry
13.10.3 Automobile Industries
13.10.4 Hydrogen Plants
13.10.5 Sea Water Applications
13.10.6 Nuclear Plants
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Stainless Steel Passivation Agent Market: Competitive Dashboard
14.2 Global Stainless Steel Passivation Agent Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 EnPro Industries
14.3.2 Astro Pak
14.3.3 Solvay
14.3.4 Chemetall Group
14.3.5 Condoroil Chemical
14.3.6 Henkel
14.3.7 Delstar Metal Finishing
14.3.8 Pragochema Spol
14.3.9 Greensolv
14.3.10 Sartorelli Depurazione
14.3.11 Avesta Finishing Chemicals
14.3.12 Bunge Amorphic Solutions
14.3.13 Xinchang Chemicals
