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Coating Pretreatment Market size is poised to grow with a lucrative CAGR from 2023 to 2032, which can be credited to the gradual supply chain recovery from the COVID-19 crisis and the burgeoning car sales.
In the third quarter of 2022, General Motors witnessed a 24% hike in new vehicle sales across the U.S. Such factors will stimulate the use of automotive metal coating pretreatment solutions to protect against external factors.
The rise in spending on public construction is expected to foster global coating pretreatment market trends. According to the U.S. Census Bureau, in October 2022, public construction spending reached the seasonally adjusted annual rate of USD 381.6 billion. In addition, the expanding middle-class population, economic growth, and the mounting airplane demand will fuel the adoption of powder-coating pretreatment chemicals for metals used in the aerospace and construction industries.
Based on the product, the coating pretreatment market size from the chromate-free segment is set to increase commendably from 2023 to 2032, on account of its enhanced adhesion, cost-effective processing, and corrosion resistance. Manufacturers are continuing to develop new products that outperform existing products when tested for punching, bending, and cutting aluminum. The rising environmental crisis will further escalate the need for organic coatings and consequently, spur chromate-free pretreatment adoption as it provides excellent adhesion with organic coatings.
The construction application segment will account for a major share of the coating pretreatment market over 2023-2032, given the rapid urbanization and the increase in infrastructural development projects. In May 2022, 4,300 infrastructure projects were underway following the signing of the U.S. government’s USD 1 trillion infrastructure package in the U.S. Additionally, the escalating investment in building renovation projects will bolster the requirement for metal pretreatment processes in construction applications.
North America coating pretreatment market size will amass considerable gains by 2032, considering the strong presence of auto companies and burgeoning vehicle sales. Based on statistics from the Automotive News Data Center, in 2021, sales of new light-duty vehicles increased by 6.9% as compared to a year earlier in Canada. Moreover, the growing investment in the semiconductor industry will assert a positive influence on electronics manufacturers and in turn, encourage the coating pretreatment of metal and thermoplastic parts adopted in consumer electronics.
Kansai Paint, Troy Chemical Industries, PPG Industries, Inc., NIPSEA International Limited (Wuthelam Holdings Ltd.), Nippon Paint Holdings Co. Ltd, AkzoNobel N.V., Axalta Coating Systems, Henkel AG, Sherwin-Williams Company, and 3M Company are some of the key players operating in the global coating pretreatment market. These companies are focusing on product range expansions and other strategies to strengthen their presence in the global market.
The Russia-Ukraine war is creating a considerable impact on the global supply chains that have already been constrained following the COVID-19 outbreak. As a result, ongoing chip shortages are escalating and impacting peripheral industries including consumer electronics and automotive. Since Russia and Ukraine produce a significant share of palladium and neon supplies, two key raw materials of semiconductor chips, the ongoing crisis may also worsen product supply. The decline in semiconductor production may, in turn, assert a negative influence on market development for electronics applications.