Phosphate Conversion Coatings Market Expected to Increase at a Cagr 4.0% Through 2022 to 2028 – Future Market Insights
Phosphate conversion coatings (Phosphating) have served as the most important surface treatment option till date. The market is now expected to grow at a moderate rate with major applications in the automotive segment. PCCs are increasingly gaining popularity in the manufacture of casing connections to enhance their consequent sealing performance. Further, when used in combination with the lubricants, these coatings provide excellent galling protection, a property highly desirable in across various end-use industries, including chemical, oil & gas, etc. According to the revelations by Future Market Insights in its new research report, the global Phosphate Conversion Coatings market is expected to reach a market value of over US$ 2,300 Mn by the end of 2028, growing at a CAGR of 4.0% during the forecast period. There are various special properties of PPC that have helped mark its growth globally, such as better corrosion resistance, improved adhesion, superior wear resistance, and enhanced aesthetic appearance. The growth is highly evident in the automotive as well as the food and beverage industries. The food and beverage segment is expected to grow at a steady growth rate, with key applications in beverage cans.
China’s Industrial Activities to upkeep its compelling growth in the Glob
China is projected to be a major contributor to the growth of the gal PCC Marketlobal phosphate conversion coatings market as it holds the highest market share. The zinc phosphate segment is gaining traction in the China phosphate conversion coating market. It is a result of rising manufacturing and industrial activities in emerging economies. The region is expected to witness the fastest growth in the global market at an impressive rate of 5.2% during the forecast period. Other emerging economies are also witnessing similar trends in the PPC market. These trends are a part of the shift in the automotive and construction industries. The automotive industry remains a key sector for supplying phosphate conversion coatings. The construction industry growth is expected to lead to a rise in demand for coated steel and aluminum coils, which in turn will upsurge the demand for phosphate conversion coatings over the forecast period.
PPC Market’s greater portion to be covered by Tier 1 & 2 players
The global phosphate conversion coatings market is significantly consolidated. More than two-thirds of the global market has been estimated to be concentrated among tier 1 and tier 2 players. Tier 3 players, which largely cater to their regional markets, are expected to hold nearly one-fourth of the overall market. The leading players are witnessed indulging in partnerships with Automotive OEMs as a move to stay ahead in the intensified competition. The companies are also focusing on introducing new products in the market. Their strategies include the development of innovative coatings and solutions with superior characteristics, which can be utilized over advanced substrates as well as in novel applications, which will be among the key success factors for the long-term growth