The global pretreatment coatings market size is expected to witness promising growth backed by increasing demand for powder coatings in several industries such as automotive, agricultural, and others. Fortune Business Insights, in its latest report, titled “Pretreatment Coatings Market Size, Share & Industry Analysis, By Type (Phosphate, Chromate, Chromate-free, Blast Clean), By Application (Automotive & Transportation, Appliances, Building & Construction, Others) Others and Regional Forecast, 2022-2029.”, predicts significant growth for the market during the forecast period.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
A pretreatment coating is primarily done on the base of the material to prevent it from hazardous properties such as rust, and corrosion. In addition to this, it imparts efficient and improved film adhesive properties to the surface. Furthermore, it is extensively used in several industry applications such as automotive, electronics, agriculture, and construction. Moreover, environmental hazards caused due to phosphate coatings is propelling the companies to adopt a sustainable method that will prevent corrosion along with improved paint adhesion.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
What does the Market Report Include?
The market report includes detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. In addition to this, the report includes information sourced from advice of expert professionals from the industry by our research analyst. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisitions, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Adoption of Eco-Friendly Products to Spur Demand
The widespread use of phosphate coatings that have better corrosion resistance and superior paint adhesion properties bring with it several health and environmental concerns. Additionally, strict government regulations regarding the environment threat posed by phosphorus has enables the companies to adopt eco-friendly and strong pretreatment coating alternatives. For instance, several companies are adopting saline-based multi-metal pretreatments, which provide dense films, and enhance adhesive properties because of being less surface tensile. Furthermore, they provide great corrosion-resistant properties to the surface. Thereby, growing adoption of eco-friendly products is anticipated to boost the demand for the market during the forecast period.
According to the demographics, Asia-Pacific, among the regions, is expected to lead the growth of the market during the forecast period. This is ascribable to factors such as rising aerospace production in countries such as China. Furthermore, presence of major automobile manufacturers in Asia-Pacific will contribute to the growth of the market in the forthcoming years. North America, on the other hand, will register healthy growth for the market during the forecast period. This is attributable to factors such as increasing appliance industry during the projected horizon. The market in Latin America and the Middle East and Africa is likely to gain momentum backed by increasing demand for pretreatment coating for building and constructional activities between 2019 and 2026.
Wisconsin Launching New Product to Promote Growth
According the report, the market comprises of several companies operating in the market trying to cement their position in the fiercely competitive market. Adoption of strategies such as product launches, and expanding their product offerings to cater to the rising demand will bode well for the growth of the market. Furthermore, the companies are gaining market stronghold and registering promising pretreatment coatings market revenue by increasing investments in R&D activities during the projected horizon. For instance, Professional Plating (PPI) has installed Shirley, a $3.6 million zinc rack plating line in Wisconsin in 2018. The company has heavily invested about $12 million in developing new facilities and equipment.
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.