Chromium Phosphate Market Analysis :
Chromium phosphate, chemically known as orthophosphate of phosphoric acid or chromium salt, is an inorganic compound, which is insoluble in water. A number of compounds are used to manufacture chromium phosphate, including ethanol, orthophosphoric acid, and ammonium dichromate and chromium trioxide. It is majorly used as paints and coatings, due to its superior resistance against corrosion. Moreover, chromium phosphate is used as catalyst in various polymer industries and is used in pharmaceutical industries.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic across the globe has severe impact on the global chromium phosphate market.
- The construction industry, which is a major end-user industry of the chromium phosphate market has been severely affected due to the pandemic, and thus has a severe impact on the demand for chromium phosphate.
- Owing to restrictions imposed on transportation in different countries, the supply chain has been disrupted, thereby affecting the transportation of raw materials to the manufacturers as well as the distribution of finished products into the market. This has affected the operations of the chromium phosphate manufacturers.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rapid increase in urbanization across the world has escalated the demand for architectural coatings, which acts as a major driver of the global chromium phosphate market. Apart from architectural coatings, chromium phosphate is converted into consistent films applied on metals that are frequently used in manufacturing and utility such as zinc, aluminum, and their alloys. It is applied on different surfaces by several methods such as electroplating, immersing, or by spraying the solution.
Moreover, chromium phosphate is used as a catalyst in several chemical reactions such as dehydration of alcohols to ethers and is used in polymer industry to produce laminated structures for dampening motor noise and vibrations. Furthermore, chromium phosphate is used in the pharmaceutical industry for the manufactures of drugs for leukemia, arthritis, and haemangioma.
However, the fluctuating prices of different raw materials used to manufacture chromium phosphate has negatively impacted the market.
The Asia-Pacific region accounts for the largest share, owing to surge in demand for corrosion inhibitors attributable to increase in industrialization and rise in construction activities in emerging economies.
Key benefits of the report
- This study presents the analytical depiction of the global chromium phosphate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global chromium phosphate market share.
- The current market is quantitatively analyzed to highlight the global chromium phosphate market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global chromium phosphate market research report:
- Which are the leading market players active in the global chromium phosphate market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Chromium Phosphate Market Report Highlights
By Industry Vertical
Key Market Players
American Elements, Service Chemical, Chemetall GmbH, Brenntag AG, Service Chemical Inc., Covestro, Sigma-Aldrich Corporation, Oxkem, Bayer AG, CHEMOS GmbH