Phosphate Conversion Coatings Market: Overview
- Phosphating is used extensively in the process of metal pre-treatment for the purpose of surface treatment and non-ferrous and ferrous metal finishing. The global phosphate conversion coatings market is expected to expand significantly, considering the important role phosphating plays in automobile and appliance industries. The process of phosphate conversion coating is cost effective; corrosion resistant; and adhesion and wear resistant.
- The procedure of phosphate conversion coatings was initially developed to prevent corrosion, but with changing times and requirements, the process has been modified to cater to the demand of end-users.
Key Drivers and Restraints of Phosphate Conversion Coatings market
- Phosphating is used to treat the surface of metals to make it hard and non-conductor of electricity. The surface becomes contagious and is capable of more absorption than the metal itself. The global phosphate conversion coatings market is driven by the extensive use of the process in metal treatment.
- Coating technologies possess several advantages. However, the latest market development indicates a shift toward environment-friendly products. New processes are used with all substrates such as aluminum, steel, and zinc. In order to reduce the adverse impact on the environment, manufacturers are engaging in the process of pre-treatment that is free of phosphorous. This process can be can be used on a number of substrates and goes well with equipment of mild steel. Products that are free from phosphorous are environment friendly.
- Strict government rules in many of the developed nations mandate improvement of fuel efficiency and fuel economy from the automobile sector and original equipment manufacturers. Stringent regulations lead to adoption of phosphate conversions coatings, which are environment friendly. This is likely to boost the global phosphate conversion coatings market during the forecast period. Extensive use of phosphate conversion coatings in consumer appliances and automobiles to improve durability and surface appearance is driving the demand for these coatings. In the automotive industry, phosphate conversion coatings prepare the surface for further operations. These coatings also offer electrical isolation and outstanding adhesion properties to the surface, thereby leading to minimal corrosion. Many manufactures of automotive and original equipment manufacturers have mandated the usage of these coatings. This offers lucrative opportunities for the global phosphate conversion coatings market.
Global Phosphate Conversion Coatings Market: Segmentation
- The global phosphate conversion coatings market can be segmented based on product, substrate, and end-use
- Based on product, the phosphate conversion coatings market can be classified into manganese phosphate, iron phosphate, and zinc phosphate. Manganese phosphate is expected to emerge as a highly lucrative product segment in the next few years.
- In terms of substrate, the phosphate conversion coatings market can be categorized into cast iron, steel, and others. Steel is an attractive segment due to excellent corrosion properties.
- In terms of end-use, the phosphate conversion coatings market can be categorized into automotive, food & beverages, consumer appliances, and others. The automotive segment is expected to expand at a fast paced CAGR owing to the rise in adoption of electric vehicles across the globe.
Global Phosphate Conversion Coatings Market: Regional Segmentation
- In terms of region, the global phosphate conversion coatings market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is one of the key regions of the global phosphate conversion coatings market. The region had one of the highest number of players in automotive and oil & gas industries. This has creating high demand for phosphate conversion coatings in the region. Construction is booming in the U.S. and Canada. This is anticipated to further increase the adoption of phosphate conversion coatings in the region during the forecast period.
- Countries in Asia Pacific such as India, China, and Japan are witnessing high growth in industrialization owing to large population base and significant government investments. Rapidly expanding automobile and manufacturing industries in India and China are likely to encourage growth of the market in Asia Pacific.
- Europe is likely to account for a substantial share of the global phosphate conversion coatings market over the period of forecast. Steady growth of automobile and construction sectors is expected to propel the market in the region.
COVID-19 Impact on Global Phosphate Conversion Coatings Market
- The COVID-19 pandemic has adversely affected the global phosphate conversion coatings market. Manufacturing and power sector activities across the globe suffered temporary shut down during the lockdowns. Measures such as social distancing also impacted operations. However, demand recovery in manufacturing as well as power sector after lockdowns is likely to boost the phosphate conversion coatings market in the near future.
Key Players in Market
The global phosphate conversion coatings market has a highly competitive landscape. It is dominated by various prominent players across the globe. Prominent players operating in the phosphate conversion coatings market include:
- Henkel AG & Co.
- Crest Industrial Chemicals
- Keystone Corporation
- The Sherwin-Williams Company
- Westchem Technologies
- Kansai Paint Company
Global Phosphate Conversion Coatings Market: Research Scope
Global Phosphate Conversion Coatings Market, by Product
- Manganese Phosphate
- Iron Phosphate
- Zinc Phosphate
Global Phosphate Conversion Coatings Market, by Substrate
Global Phosphate Conversion Coatings Market, by Substrate
- Automotive
- Food & Beverages
- Consumer Appliances
- Others
Global Phosphate Conversion Coatings Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
