Global Phosphate Conversion Coatings Market: Overview
Phosphating find abundant use 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 is expected to gather momentum from the important role that phosphating plays in the automobile and appliance industries. The process of phosphate conversion coating comes with cost effectiveness, corrosion resistance, adhesion, speed of operation, and wear resistance.
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. Innovative methods have come up, which replace traditional uses.
The global phosphate conversion coatings market has been segmented on the basis of four parameters, which are product, substrate, end-use and region.
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Global Phosphate Conversion Coatings Market: Notable Developments
The global phosphate conversion coatings market has witnessed some developments in the market. One such development is mentioned below:
- In 2017, Ohio-based Sherwin-Williams Company made an acquisition of Valspar Corporation. The latter is a leading manufacturer of paints and coatings with in the U.S. The acquisition is expected to expand the product portfolio of Sherwin-Williams Company, which has a large consumer base. Phosphate conversion coating is one of the leading products of Valspar Corporation and is likely to have access to larger base of consumers both in the domestic and international market.
A few of the leading market vendors of the global phosphate conversion coatings market are as mentioned below:
- Henkel AG & Co.
- Crest Industrial Chemicals
- Keystone Corporation
- The Sherwin-Williams Company
- Westchem Technologies
- Kansai Paint Company
Global Phosphate Conversion Coatings Market: Key Trends
The global phosphate conversion coatings market is likely to be influenced by the following drivers, restrains, opportunities during the study period.
Demand from Automotive Industry to Set the Market on High Growth Trajectory
Phosphating treats surface of metals to make them 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 come with several advantages. However, the latest market development indicates a shift toward environment friendly products. The market requires new coating processes to be easier with lesser period of time and it requires lower temperature to operate as opposed to processes of zinc or iron phosphate. In addition, new processes do well with all substrates like aluminum, steel, and zinc. In a bid to reduce the adverse impact on the environment, manufacturers are engaging in the process of pre-treatment that are 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 augmented 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 add impetus to the global phosphate conversion coatings market over the period of assessment. Extensive use of phosphate conversion coatings in the consumer appliance and automobile industry to improve durability and surface appearance bolsters its demand. In the automotive industry, phosphate conversion coatings prepare the surface for further operations like paints. It also offers electrical isolation and outstanding adhesion properties to the surface thereby leading to minimal corrosion. As such, many of the manufactures of automotives and original equipment manufacturers have mandated its use, which offers substantial growth opportunities for the global phosphate conversion coatings market.
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Global Phosphate Conversion Coatings Market: Geographical Analysis
Latin America, Asia-Pacific, Middle East and Africa, Europe, and North America comprise the major regions of the global phosphate conversion coatings market. Regional segmentations are likely to offer in-depth understanding of the various regional growth factors.
Of all the regions, Europe is likely to account for a substantial share of the global phosphate conversion coatings market over the period of forecast. Steady growth in the automobile and construction sector is expected to propel the market toward growth. According to European Steel Association, the number of registration for new cars went up by 3.4% in 2017. France and Germany is likely to drive the revenue of the region. Apart from Europe, Rapidly expanding automobile and manufacturing industries in India and China are likely to encourage growth of the market in the Asia Pacific region.
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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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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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?
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