Selbyville, Delaware, March 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the overall pretreatment coatings market was estimated at $11 billion in 2019 and is expected to surpass $15.5 billion by 2026, registering a CAGR of 5.1% from 2020 to 2026. The report provides a thorough assessment of the drivers and opportunities, key investment pockets, wavering market trends, market size & estimations, competitive scenario, top winning strategies.
The pretreatment coatings market from aluminum is likely to grow with a CAGR of 5% over the forecast timeframe due to the rising demand for top-quality metal packaging products. Aluminum-based pretreatment coatings are extensively used to enhance the performance characteristics since it can be used with strip cleaning as well as the coating process. Moreover, factors such as corrosion resistance, compatibility with electrolytic & chemical process, economical nature, and easy availability will further increase the market demand.
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The growing automotive sector and increasing investments towards the design and development of low maintenance vehicles will further boost the market demand. The automotive sector in the pretreatment coatings market will witness a valuation of over $5.1 billion by 2026.
Key reasons for pretreatment coatings market growth:
- Increasing usage in the automotive industry.
- Escalating demand for pretreatment coating due to stringent safety regulations and rising corrosion preventing material demand.
- Rapid adoption in aerospace and automotive industries across Europe.
2026 forecasts anticipate the ‘marine’ application segment showing appreciative growth:
Pretreatment coatings are utilized in marine applications in order to protect boats, ships, or marine vessels with metal hulls. Additionally, these coatings also improve performance, workability characteristics, as well as the vessels’ aesthetic appearance. Rising demand to lower maintenance costs along with the rapid utilization of pretreatment coatings due to strict regulations in the marine sector is likely to increase the pretreatment coatings market share.
Europe aviation industry to provide significant growth impetus:
The rising aviation industry, backed by urbanization and fleet renovation trends, will further boost the market demand for pretreatment coatings. The general aviation sector in the pretreatment coatings industry is anticipated to exceed $265 million by 2026. The pretreatment coatings help in lessening the risk of rust and scale formation and provide further protection against water, chemicals, and moisture.
Strict regulations in the European aviation sector and increasing investment in the region to manufacture top quality products in strict compliances will increase competition and further enhance market share.
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APAC to emerge as a key revenue pocket for market growth:
The Asia Pacific pretreatment coatings market, as per this report, is likely to depict a CAGR of more than 5.5% through 2026. The growth can be attributed to the increasing number of investments in the regional automotive and aerospace sectors.
In addition, the availability of myriad raw materials that is encouraging industry players to expand their regional production facilities will further spur the market share.
Leading market players:
The key market players analyzed in the pretreatment coatings industry report include Nippon Paint, Jotun, BASF, 3M, AkzoNobel N.V, NFI Corporation, GMA Garnet, and Tnemec among others.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.