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Phosphate Conversion Coatings Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

  • Report ID: GMI4149

Phosphate Conversion Coatings Market Size

Phosphate Conversion Coatings Market is predicted to expand at a substantial rate between 2024 and 2032, driven by higher application potential in various end-user sectors, such as consumer electronics, automotive, and electronics & electrical. The increasing need for excellent adhesion, optimum absorbing lubrication, and superior corrosion resistance will boost the product demand.

Advancements in nanotechnology are enhancing coating performance, offering improved adhesion and durability. For instance, Asian Paints entered into a nanotechnology partnership with Harind Chemicals and Pharmaceuticals Pvt. Ltd. in October 2022. As pioneers in cutting-edge coatings technology, this collaboration with Harind positioned Asian Paints at the forefront of Next Gen Nanotechnology.

Phosphate Conversion Coatings Market Trends

Growing demand for phosphate conversion coatings in automotive and aerospace industries for corrosion resistance is propelling market growth. Environmentally friendly formulations, such as low-phosphorus or no-rinse processes, are gaining traction to address environmental concerns. Rising focus on energy-efficient coating processes and eco-friendly alternatives is influencing product development. As industries seek efficient and sustainable corrosion protection solutions, the phosphate conversion coatings industry is evolving to meet these demands with innovative, eco-friendly, and high-performance offerings.

Phosphate Conversion Coatings Market Analysis

On the basis of application, the automotive segment will record substantial gains through 2032. The implementation of severe government legislation pertaining to improved fuel economy in modern automobiles has pushed the preference for phosphate conversion coatings in auto production to offer environment-friendly features. These coatings facilitate the conversion of abase car metal surface into a non-metallic crystalline surface for enhanced vehicle aesthetics, corrosion resistance, adhesion, and lubrication. PCCs are also widely employed to improve the performance of vehicle components, such as engine mounts, car chassis, and wheels. Consequently, the rising demand for automobiles in the U.S., Germany, China, and India will support the market expansion. 

The zinc phosphate coatings segment is expected to garner considerable momentum through 2032, owing to their higher adoption to elevate the natural crystalline aesthetics of steel for decorative activities. These coatings provide excellent wear and friction resistance, as well as improved product aesthetics to the coating. Increasing preference to deliver porous and high-bonding capabilities while allowing enhanced and stronger paint adhesion will drive the demand for these coatings in the paints and coatings sector. 

North America phosphate conversion coatings industry is slated to foresee promising revenue by 2032, owing to the growing awareness among various industrial giants regarding the usage of environmentally friendly coatings. The governments are coming up with initiatives and incentive to encourage the purchase of electric vehicles for reduced automobile emissions. The Alliance for Automotive Innovation's data on light-duty EV sales reveals sustained and notable expansion in the United States from 2021 to the third quarter of 2023. In 2023, annual U.S. EV sales exceeded 1 million for the first time, accomplishing this milestone by Q3.

Phosphate Conversion Coatings Market Share

  •  Nihon Parkerizing Company
  •  Henkel AG
  • The Sherwin-Williams Company
  •  Axalta Coating Systems Ltd.
  •  Kansai Paint Company
  • PPG Industries, Inc.
  •  Westchem Technologies

are a few key players operating in the phosphate conversion coatings market. These companies are working tirelessly to produce innovative products in the field while employing various marketing strategies, including mergers and acquisitions, and collaborations.

Phosphate Conversion Coatings Industry News

In April 2023, Mitchell has partnered with Axalta Coating Systems, a leading coatings company, to launch a novel training initiative titled "Truck Fleet Damage Analysis and Estimating." This program aims to offer repair professionals guidance on enhancing the efficiency of the appraisal process for collision-damaged medium- and heavy-duty trucks, while also optimizing paint profitability.

What Information does this report contain?

Historical data coverage: 2018 to 2023; Growth Projections: 2024 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Authors: Kiran Pulidindi

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