San Francisco, 14
November 2018: The global chromium phosphate market is expected to reach USD 96.65 million by 2020,
according to a new study by Grand View Research, Inc. Key application markets
for chromium phosphate include architectural coatings, corrosion inhibitor
coatings, medical applications, and others such as catalyst applications.
Strong demand from architectural coatings and corrosion inhibitor coatings are
expected to drive chromium phosphate demand over the next six years.
Additionally, increasing R&D for chromium phosphate application development
in the field of medicine is being looked upon as a key opportunity for this
market.
Sourcing of raw
materials remains the major concern for the industry owing to increasing
chromium demand for other applications. Prices of raw materials are more likely
to affect the profit margins of chromium phosphate manufacturers, with minor
price fluctuations also having significant impact on profit margins in the
industry. At present, installed capacity for the production of chromium
phosphate is very comparatively small, which has resulted in a demand supply
gap. Moreover, manufacturing of chromium phosphate is capital intensive.
Access Research Report of Chromium Phosphate
Market @ www.grandviewresearch.com/industry-analysis/chromium-phosphate-industry
Further key findings from the study suggest:
· Global chromium phosphate market volumes
were estimated at 25,672.1 tons in 2012 and are expected to reach 51,363.2 tons
in 2020, growing at a CAGR of 9.1% from 2013 to 2020
· Architectural coating applications
dominated demand in 2012, accounting for over 42% of global volumes. Chromium
phosphate demand for architectural coatings is expected to reach 21,663.5 tons
by 2020
· Chromium phosphate coatings are being
increasingly used in conversion coatings to provide outstanding corrosion protection
on aluminum, as well as excellent adhesion properties under organic coatings.
Chromium phosphate market revenue for corrosion inhibitor coatings is expected
to reach USD 25.35 million by 2020, growing at a CAGR of 10.3% from 2013 to
2020
· Medical applications are expected to be the
most attractive avenue for chromium phosphate manufacturers, with volume demand
estimated to grow at a CAGR of 10% from 2013 to 2020
· Key manufacturers and suppliers of chromium
phosphate include Chemetall Inc., AK Scientific, Inc., City Chemicals
Corporation, and MP Biomedicals, Leancare Ltd. and so on. Distribution is a key
success factor in the chromium phosphate industry. Sigma Aldrich, Chemos and
Service Chemical Incorporation are some of the leading distributors in this market
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/specialty-and-fine-chemicals
Grand View Research has
segmented the global chromium phosphate market on the basis of application and
region:
Chromium Phosp Application Outlook,
·
Architectural Coatings
·
Corrosion Inhibitor Coatings
·
Medical
·
Others (Catalysts, Lasers, etc.)
Chromium Phosphate Regional Outlook,
·
North America
·
Europe
·
Asia Pacific
·
Rest of the World
Access Press Release of
Chromium Phosphate Market@ www.grandviewresearch.com/press-release/global-chromium-phosphate-industry
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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