According to the research report titled ‘Global Phosphate Conversion Coatings Market Size study, by Product (Manganese Phosphate Conversion Coating, Iron Phosphate Conversion Coating, Zinc Phosphate Conversion Coating), By End-Use (Automotive, Food & Beverages, Consumer Appliances, Others (Healthcare, Chemical/ Petrochemical, Aerospace, etc.) and Regional Forecasts 2021-2027’, available with the MarketStudyReport, the global phosphate conversion coatings market valuation was evaluated at USD 1723 million in 2020 and is expected to reach USD 2267.35 million by 2027, recording a 4% CAGR over the projection period.
 

The increasing investment and strategic collaborations among leading players coupled with rapid expansion of the automotive sector are fueling the growth of global phosphate conversion coatings market. Increasing demand for absorbing lubrication that offers exceptional adhesion and appearance is driving the industry growth during the forecast period.
 

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For those unaware, phosphate conversion coating is basically a chemical conversion coating that converts a base metal's surface to a non-metallic crystalline coating. This reaction occurs in an acidic solution containing phosphate ions. However, rising environmental concerns is expected to stifle the market expansion in the subsequent years.
 

By product type, global phosphate conversion coatings industry is classified into zinc phosphate conversion coating, management phosphate conversion coating, and iron phosphate conversion coating. In terms of end-user landscape, the marketplace is fragmented into aerospace, chemical, healthcare, consumer appliances, food & beverages, and others.
 

The geographical analysis of the worldwide phosphate conversion coating industry includes Europe (Germany, Italy, France, the U.K.), North America (the U.S., Canada), Latin America (Brazil, Mexico), Asia-Pacific (India, Japan, China, Australia, South Korea), and the rest of the world.
 

As per the report, Europe currently accounts for the largest market share, owing to the growing focus towards the improving automotive production.
 

North America market is also expected to grow rapidly between 2021 and 2027, driven by a growing focus on producing environmentally friendly phosphate coatings using advanced technologies.
 

The major companies operating in global phosphate conversion coatings industry are Hubbard-Hall Inc., Freiborne Industries Inc., Keystone Corporation., Nihon Parkerizing Co. Ltd., Chemetall GmbH, Kansai Paint Co. Ltd., Axalta Coating Systems Ltd., Sherwin-Williams Co., PPG Industries Inc., and Crest Industrial Chemicals Inc.