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The chromium phosphate market share is expected to increase by USD 37.32 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.1%.
This chromium phosphate market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers chromium phosphate market segmentations by application (architectural purposes, corrosion protection, medical, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The chromium phosphate market report also offers information on several market vendors, including American Elements, BASF SE, CHEMOS GmbH and Co. KG, Merck KGaA, Nippon Chemical Industrial Co. Ltd., Oxkem Ltd, and Shanghai Danfan Network Science and Technology Co Ltd among others.
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The growing automotive industry in APAC is notably driving the chromium phosphate market growth, although factors such as increasing stringency of regulations related to chromium phosphate-based coating may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chromium phosphate industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Chromium Phosphate Market Driver
The growing automotive industry in APAC is one of the key drivers supporting the chromium phosphate market growth. The automotive sales, including passenger cars, light commercial vehicles, heavy commercial vehicles, and buses, increased owing to increased urbanization and per capita income in the region. Factors such as rapid industrialization and rise in disposable income have improved the standard of living and increased the demand for automobiles in APAC. Moreover, industrial chromium phosphate coatings offer superior weather resistance and enhance the appearance of automobiles. Therefore, the thriving automotive industry in APAC has accelerated the consumption of chromium phosphate-induced industrial coatings and rendered the region a leading geographical segment in the market.
Key Chromium Phosphate Market Trend
The emergence of self-cleaning and self-healing coatings is one of the key chromium phosphate market trends contributing to the market growth. The manufacturers of self-cleaning and self-healing coatings across the world are increasingly investing in R&D activities to develop paints and coatings that will eliminate the need for multiple applications of coatings on vehicles. However, self-cleaning and self-healing coatings are yet to be manufactured by coating manufacturers at a large scale as the production costs associated with them are high. Therefore, the increase in the adoption of self-healing and self-cleaning coatings seems highly probable, which can propel the market growth during the forecast period.
Key Chromium Phosphate Market Challenge
The increasing stringency of regulations related to chromium phosphate-based coating is one of the factors impeding the chromium phosphate market growth. Chromium phosphate is considered a volatile chemical that is hazardous to the environment. In the last few years, the Occupational Safety and Health Administration (OSHA) has improvised regulations regarding the use of solvent-based coatings. These regulations are related to VOC and HAP emissions, storage and flammability concerns, and employee health. Compliance with these regulations has increased the costs associated with the purchase and use of solvent-based industrial coatings. Therefore, stringent regulations formulated by the regulatory bodies are expected to pose a serious challenge to the growth of the market during the forecast period.
This chromium phosphate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global chromium phosphate market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chromium phosphate market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the chromium phosphate market encompasses successful business strategies deployed by the key vendors. The chromium phosphate market is fragmented and the vendors are deploying growth strategies such as price, quality, and product varieties to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The chromium phosphate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the chromium phosphate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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47% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for chromium phosphate market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing production of automobiles and related components will facilitate the chromium phosphate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The regional market noticed a decline in revenue in 2020 and 2021 due to the outbreak of COVID-19. However, in 2021, successful vaccination drives across the region and increased investment inflows from various sources in the automotive sector helped resume operations across plants. Thus, APAC is exhibiting an increased demand for chromium phosphate for coating, which, in turn, will contribute to the growth of the market during the forecast period.
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The chromium phosphate market share growth in the architectural purposes segment will be significant during the forecast period. Chromium phosphate has applications for architectural purposes, including pretreatment coating and architectural metal finishing. Chrome phosphate pretreatment is a conversion coating used to modify the chemical composition of the treated object's surface. It acts as a primer and inhibits corrosion on the surface, extending the life and duration of the coat. Such factors will boost segment growth in the near future.
This report provides an accurate prediction of the contribution of all the segments to the growth of the chromium phosphate market size and actionable market insights on the post-COVID-19 impact on each segment.
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Chromium Phosphate Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.1% |
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Market growth 2022-2026 |
$37.32 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.0 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 47% |
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Key consumer countries |
US, China, Japan, India, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
American Elements, BASF SE, CHEMOS GmbH and Co. KG, Merck KGaA, Nippon Chemical Industrial Co. Ltd., Oxkem Ltd, and Shanghai Danfan Network Science and Technology Co Ltd |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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