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Chromium Phosphate Market Key Players 2018-2024: Chemos, Sigma Aldrich, Covestro, American Elements, Brenntag, Service Chemical, and Oxkem
Global Market Insights, Inc.
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Chromium Phosphate Market size may witness significant gains as it is mainly used in paints & coatings industry for corrosion and architectural protection and medical sector. It is also known as orthophosphate of chromium salt or phosphoric acid which is insoluble in water. It is used as an additive in anti-corrosive pigments, drugs, polymer, and catalysts manufacture.
Key raw materials used for the manufacturing process includes ethanol, ammonium dichromate, orthophosphoric acid, and chromium trioxide. It is highly toxic in nature and if exposed directly may cause respiratory, eye and skin irritation.
Rise in corrosion inhibitors sector may have a positive impact over the foreseeable period. Chromium phosphate based coatings provide excellent corrosion protection on aluminium and provides adhesion. Global corrosion inhibitors market size was valued at over 6 billion in 2016 due to robust growth construction industry. It extends equipment life, preserve cosmetic appearance, prevent system shutdowns, and avoid contamination, thereby reducing maintenance costs.
North America, driven by the U.S. chromium phosphate market size may witness significant gains over the forecast period. Strong application outlook in medical devices along with stringent government regulations should drive regional industry growth. Increase in use of anti-corrosion and surface coating may fuel product demand.
Europe chromium phosphate market size, driven by U.K, France, Italy, and Germany, may witness steady gains owing to increase in paints & coatings industry. Companies are shifting their manufacturing units mainly in Asia Pacific region owing to easy raw material availability, which may hinder regional growth. However, high investment in pharmaceutical sector may help in chromium phosphate market size in the region.
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Lack of awareness regarding chromium phosphate usage in various end-use industries along with low production capacity may constraint industry growth. Fluctuating raw material costs may hamper industry profitability and affect chromium phosphate market price trend. However, strong R&D spending for various industrial applications may stimulate product demand.
Global chromium phosphate market share is highly organized with various manufacturers catering to the industry. Key manufacturing companies operating in the industry include Chemos, Sigma Aldrich, Covestro, American Elements, Brenntag, Service Chemical, and Oxkem.
Chromium phosphate market may create opportunities in automotive, aluminium finishing, aerospace, and heavy equipment industries in the near future.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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