The global phosphate conversion coatings market is set to reach a significant milestone in 2022, with a projected value of US$ 1.86 billion. The growing adoption of these coatings in the production of casing connections to enhance sealing performance is a key driver for this market growth. Phosphate conversion coatings play a crucial role in transforming metal surfaces into non-metallic crystalline surfaces, leading to improved appearance, corrosion resistance, adhesion, and lubrication.
The automotive industry is a major user of phosphate conversion coatings, employing them to enhance various components such as car frames, engine mounts, and wheels. With increasing demand for automotive vehicles in countries like the US, China, Germany, and India, the market is expected to see a 4% compound annual growth rate, surpassing US$ 2.36 billion by 2028.
Moreover, the building and construction industry is also contributing to the growth of the market, as there is a rising demand for treating aluminum, zinc, and steel surfaces to create a foundation for subsequent painting and coatings. This trend has resulted in a 4% year-over-year growth in 2021.
Key players in the market are leveraging strategic collaborations, mergers, and acquisitions to expand their production capacities and develop new phosphate conversion coatings. Companies like PPG Industries, Inc and BASF are at the forefront of introducing eco-friendly and high-performance coating products to meet market demands.
With significant growth opportunities projected in regions like the US, China, Germany, and India, the phosphate conversion coatings market is poised for continued expansion in the coming years. Stay tuned for more updates on this dynamic market sector.
