[222 Pages Report] According to Future Market Insights (FMI), the global phosphate conversion coatings market registered a year-on-year (YoY) growth of 4.0% in 2021. Demand in the phosphate conversion coatings market is projected to grow at a value of 4.0% CAGR between 2022 and 2028. Future Market Insights (FMI) forecasts the market value to top US$ 1,863.6 Mn in 2022. Global phosphate conversion coatings market is nearly 67.7% of the global conversion coatings market as of 2022.
Expansion of application portfolio and increased use in many finishing operations, along with increased construction spending will continue driving phosphate conversion coatings sales. Considering this, FMI has forecast the global phosphate conversion coatings sales to reach a valuation of US$ 2,359.6 Mn in 2028.
| Attribute | Details |
|---|---|
| Phosphate Conversion Coatings Value (2021A) | US$ 1,791.8 million |
| Phosphate Conversion Coatings Value (2022E) | US$ 1,863.6 million |
| Phosphate Conversion Coatings Value (2028F) | US$ 2,359.6 million |
| Value CAGR (2022-2028) | 4.0% |
| Collective Value Share: Top 3 Countries (2021A) | 51.1% |
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.1% |
| H1,2022 Projected (P) | 3.7% |
| H1,2022 Outlook (O) | 3.5% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 60 ↓ |
A half-yearly comparison of the growth forecast for the market of phosphate conversion coatings along with the key market trends, market dynamics and recent developments has been presented by Future Market Insights.
The market has been significantly influenced by certain industrial and macro-economic factors including investments in the automotive sector, and an increase in production and sales. The market of phosphate conversion coatings is unevenly distributed across several regions depending on automotive production volume.
The global demand for phosphate coating increased by a magnitude of 4.1% over the first half of 2021, whereas the growth outlook of the market is about 3.5% during first half of 2022, reflecting a loss in 60 bps points. Key regions impacting the growth outlook are certain decrease in the production of automotive in 2022 as compare to in 2021, certain decrease in the demand for appliances and restrictions of use of coatings over food items.
Further certain macro-economic factors are influencing slight decline in the growth rate which includes increase in prices of raw materials, and increasing governmental law and regulations for the chemical sector.
New and innovative emerging technologies such as powder paints and coating, and nanotechnology hold the potential to replace the conventional products in the market, posing significant challenges to global manufacturers. All of these factors cause an imbalance in demands, thereby restraining the phosphate conversion coatings market growth to a certain extent.
Sales of phosphate conversion coatings increased at a 3.5% CAGR, between 2013 and 2021, with countries such as the U.S., China, Germany, Japan, and India accounting for a substantial portion of the global market. Sales prospects in 2020 and 2021 witnessed decline due to the outbreak of COVID-19 pandemic, which reduced the demand for phosphate conversion coatings from several end use verticals such as food and beverages, and consumer appliances.
Usage in treatment of aluminum, zinc, and steel remain primary demand generating centers contributing to the growth of the phosphate conversion coatings market. Besides this, the recovering growth of automotive, and building and construction industry, is expected to further drive demand of phosphate conversion coatings, globally.
Demand for these coatings due to inherent functions such as absorbing lubrication, promoting adhesion, enhancing appearance, and improved corrosion resistance, are expected to further aid to global phosphate conversion coatings market in the forthcoming years.
As a result, the phosphate conversion coatings market is projected to grow by value, at a 4.0% CAGR during the forecast period of 2022 to 2028.
Automotive industry is one of the dynamic growing industries in the world and significantly occupying considerable share in the overall manufacturing output. The sector is anticipated to increase its production and with regards to robust sales during the forecast period.
Intensive wear and tear has driven the automotive industry to invest a significant sum in development of preventive measures to increase the durability of auto parts. Auto parts when coated with phosphate conversion coatings improve appearance, and increase corrosion resistance. Owing to these properties, considerable uptake in demand is anticipated to originate from automotive industry.
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Impact of the COVID-19 pandemic on the chemical industry was moderate. Several production facilities in many countries were entirely shut down because of the lockdown, which had a direct impact on sales of phosphate conversion coatings. However, the pandemic led to the medical and healthcare sector soaring high. Phosphate conversion coatings were used to treat and protect steel medical devices.
As numerous production facilities have reopened, the industry is progressively rebounding from losses, resulting in positive sales prospects in the phosphate conversion coatings market. Increasing prospects of manganese phosphate conversion coatings due to their oil-retentive properties are also expected to boost demand for the coatings in the forthcoming years.
As per FMI, China is projected to account for nearly one-third of the Global market share, creating an incremental opportunity of above US$ 197.1 Mn in 2028.
China is expected to remain the top notch producer of phosphate conversion coatings across the globe. The country is a global leader in the automotive industry and is severely increasing production in the same, in the coming years. This is expected to augment growth of the phosphate conversion coatings market in China.
The U.S. is projected to account for approximately 75.4% of the North America phosphate conversion coatings market in 2028. In 2022, the market is expected to grow by 2.7% year-on-year, reaching a valuation of US$ 294.8 Mn by the end of 2022. Companies in the U.S are highly focusing on producing environment friendly phosphate coatings using advanced technologies.
Growth in non-residential construction spending is another important factor propelling the demand for phosphate conversion coatings in North America.
Germany is projected to account for 20.5% of the Europe phosphate conversion coatings market share in 2028. The country is home to some leading players of the phosphate conversion coatings market. Companies such as Henkel AG & Co. KGaA, and Chemetall GmbH, with their profit bearing growth strategies and product innovations are expected to propel sales of phosphate conversion coatings over the assessment period.
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Sales of manganese phosphate conversion coatings is expected to grow at an impressive value of 4.3% CAGR, over the forecast period of 2022 to 2028.
Manganese phosphate conversion coatings are becoming increasingly preferred with future projections of the market indicating a higher demand for the same in the near future. This increase in sales can be attributed to the excellent oil-retention properties of manganese phosphate conversion coatings for both corrosion resistance and lubricity.
Manganese phosphate conversion coatings are extremely hard, have outstanding wear resistance, and prevent metal-to-metal contact between moving parts. Owing to these factors, sales of manganese phosphate conversion coatings are projected to increase over the forecast period.
The automotive end-use industry segment is projected to account for more than 47.2% of the total market share by 2028. The sales are anticipated to experience a year over year rate of 3.6% in 2022.
Zinc phosphate conversion coatings are widely used to provide corrosion protection and metal cleanliness to automotive car bodies, and even small parts like engine mounts. The growth of the automotive industry will significantly add to the market of phosphate conversion coatings.
Leading players operating in the phosphate conversion coatings market are investing in strategic collaborations, and are focusing on development and launch of new phosphate conversion coatings. Apart from this, players are focusing on expanding their production capacities to serve more end users, in order to gain a competitive edge. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South East Asia & Pacific; China; India; Japan; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia & New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Product Type, Substrate, End-use Industry, and Region |
| Key Companies Profiled | Henkel AG & Co. KGaA; PPG Industries, Inc; The Sherwin-Williams Company; Axalta Coating Systems, LLC; Kansai Paint Co., Ltd.; Chemetall GmbH; Nihon Parkerizing Co., Ltd.; Keystone Corporation; Freiborne Industries, Inc.; Hubbard-Hall Inc.; Crest Industrial Chemicals, Inc.; Westchem Technologies Inc. |
| Report Coverage | Market Forecast, Brand Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
By Product Type:
By Substrate:
By End-use Industry:
By Region:
The phosphate conversion coatings market reached a valuation of US$ 1,791.8 Mn in 2021.
The phosphate conversion coatings market experienced moderate growth, exhibiting a 3.5% CAGR between 2013 and 2021.
Increase in strategic collaborations, new product launches, and adoption of eco-friendly phosphate coatings are driving sales of phosphate conversion coatings.
China phosphate conversion coatings market is projected to grow at an impressive 5.2% CAGR during the forecast period.
Phosphate conversion coatings market in Europe is anticipated to hold a market share of 24.4% by the end of 2028.
The U.S. is anticipated to hold a market share of 14.3% in the global phosphate conversion coatings market share by 2028.
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Background
3.1. Product Overview and Historical Process Developments
3.2. Overview of Phosphate Conversion Coatings
3.3. Parent Market Overview
3.4. Macro-Economic Factors
3.5. Opportunity Analysis
3.6. Market Dynamics
3.6.1. Driver
3.6.2. Restraint
3.6.3. Trends
3.7. Value Chain Analysis
3.8. Pricing Analysis
3.9. Forecast Factors – Relevance & Impact
4. Global Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment 2022–2028
4.1. Market Volume (Tons) Projections
4.2. Market Size Projections
4.2.1. Y-o-Y Projections
4.2.2. Absolute $ Opportunity Analysis
5. Global Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment 2022–2028, By Product Type
5.1. Introduction
5.1.1. Market Value Share Analysis By Product Type
5.1.2. Y-o-Y Growth Analysis By Product Type
5.2. Historical Market Size (US$ Mn) and Volume (Tons) By Product Type, 2013–2021
5.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Product Type, 2022-2028
5.3.1. Manganese Phosphate
5.3.2. Iron Phosphate
5.3.3. Zinc Phosphate
5.4. Market Attractiveness Analysis By Product Type
6. Global Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment 2022–2028, By Substrate
6.1. Introduction
6.1.1. Market Value Share Analysis By Substrate
6.1.2. Y-o-Y Growth Analysis By Substrate
6.2. Historical Market Size (US$ Mn) and Volume (Tons) By Substrate, 2013–2021
6.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Substrate, 2022-2028
6.3.1. Cast Iron
6.3.2. Steel
6.3.3. Others
6.4. Market Attractiveness Analysis By Substrate
7. Global Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment 2022–2028, By End-use Industry
7.1. Introduction
7.1.1. Market Value Share Analysis By End-use Industry
7.1.2. Y-o-Y Growth Analysis By End-use Industry
7.2. Historical Market Size (US$ Mn) and Volume (Tons) By End-use Industry, 2013–2021
7.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By End-use Industry, 2022-2028
7.3.1. Automotive
7.3.2. Food and Beverages
7.3.3. Consumer Appliances
7.3.4. Others
7.4. Market Attractiveness Analysis By End-use Industry
8. Global Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment 2022–2028, By Region
8.1. Introduction
8.1.1. Market Value Share Analysis By Region
8.1.2. Y-o-Y Growth Analysis By Region
8.2. Historical Market Size (US$ Mn) and Volume (Tons) By Region, 2013–2021
8.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Region, 2022-2028
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South East Asia & Pacific
8.3.6. China
8.3.7. India
8.3.8. Japan
8.3.9. Middle East & Africa
8.4. Market Attractiveness Analysis By Region
9. North America Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
9.1. Introduction
9.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
9.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segments, 2022-2028
9.3.1. By Country
9.3.1.1. U.S.
9.3.1.2. Canada
9.3.2. By Product Type
9.3.3. By Substrate
9.3.4. By End-use Industry
9.4. Market Attractiveness Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Substrate
9.4.4. By End-use Industry
9.5. Drivers and Restraints: Impact Analysis
10. Latin America Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
10.1. Introduction
10.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
10.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
10.3.1. By Country
10.3.1.1. Brazil
10.3.1.2. Mexico
10.3.1.3. Rest of Latin America
10.3.2. By Product Type
10.3.3. By Substrate
10.3.4. By End-use Industry
10.4. Market Attractiveness Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Substrate
10.4.4. By End-use Industry
10.5. Drivers and Restraints: Impact Analysis
11. Western Europe Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
11.1. Introduction
11.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
11.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
11.3.1. By Country
11.3.1.1. Germany
11.3.1.2. United Kingdom
11.3.1.3. France
11.3.1.4. Italy
11.3.1.5. Spain
11.3.1.6. Benelux
11.3.1.7. Nordic Region
11.3.1.8. Rest of Western Europe
11.3.2. By Product Type
11.3.3. By Substrate
11.3.4. By End-use Industry
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Product Type
11.4.3. By Substrate
11.4.4. By End-use Industry
11.5. Drivers and Restraints: Impact Analysis
12. Eastern Europe Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
12.1. Introduction
12.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
12.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
12.3.1. By Country
12.3.1.1. Russia
12.3.1.2. Poland
12.3.1.3. Rest of Eastern Europe
12.3.2. By Product Type
12.3.3. By Substrate
12.3.4. By End-use Industry
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Product Type
12.4.3. By Substrate
12.4.4. By End-use Industry
12.5. Drivers and Restraints: Impact Analysis
13. South East Asia & Pacific Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
13.1. Introduction
13.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
13.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
13.3.1. By Country
13.3.1.1. Indonesia
13.3.1.2. Philippines
13.3.1.3. Thailand
13.3.1.4. Malaysia
13.3.1.5. Oceania
13.3.1.6. Rest of SEA & Pacific
13.3.2. By Product Type
13.3.3. By Substrate
13.3.4. By End-use Industry
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Substrate
13.4.4. By End-use Industry
13.5. Drivers and Restraints: Impact Analysis
14. China Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
14.1. Introduction
14.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
14.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
14.3.1. By Product Type
14.3.2. By Substrate
14.3.3. By End-use Industry
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Substrate
14.4.4. By End-use Industry
14.5. Drivers and Restraints: Impact Analysis
15. India Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
15.1. Introduction
15.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
15.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
15.3.1. By Product Type
15.3.2. By Substrate
15.3.3. By End-use Industry
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Substrate
15.4.4. By End-use Industry
15.5. Drivers and Restraints: Impact Analysis
16. Middle East & Africa Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
16.1. Introduction
16.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
16.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
16.3.1. By Country
16.3.1.1. GCC Countries
16.3.1.2. South Africa
16.3.1.3. North Africa
16.3.1.4. Rest of MEA
16.3.2. By Product Type
16.3.3. By Substrate
16.3.4. By End-use Industry
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Substrate
16.4.4. By End-use Industry
16.5. Drivers and Restraints: Impact Analysis
17. Japan Phosphate Conversion Coatings Market Analysis 2013–2021 and Opportunity Assessment
17.1. Introduction
17.2. Historical Market Size (US$ Mn) and Volume (Tons) By Market Segments, 2013–2021
17.3. Market Size (US$ Mn) and Volume (Tons) Opportunity Assessment By Market Segment, 2022-2028
17.3.1. By Product Type
17.3.2. By Substrate
17.3.3. By End-use Industry
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Product Type
17.4.3. By Substrate
17.4.4. By End-use Industry
17.5. Drivers and Restraints: Impact Analysis
18. Competition Analysis
18.1. Market Structure & Tier Analysis
18.2. Company Profiles
18.2.1. Henkel AG & Co. KGaA
18.2.2. PPG Industries, Inc.
18.2.3. The Sherwin-Williams Company
18.2.4. Axalta Coating Systems, LLC
18.2.5. Kansai Paint Co., Ltd.
18.2.6. Chemetall GmbH
18.2.7. Nihon Parkerizing Co., Ltd.
18.2.8. Keystone Corporation
18.2.9. Freiborne Industries, Inc.
18.2.10. Hubbard-Hall Inc.
18.2.11. Crest Industrial Chemicals, Inc.
18.2.12. Westchem Technologies Inc.
19. Research Methodology
20. Assumptions & Acronyms Used
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Phosphate Conversion Coatings Market
