Chromium Phosphate Market to Grow by USD 37.32 Mn from 2022 to 2026, Driven by Growing Automotive Industry in APAC – Technavio – QNT Press Release

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NEW YORK, Oct. 9, 2022 /PRNewswire/ — The “Chromium Phosphate Market by Application (Architectural purposes, Corrosion protection, Medical, and Others) and Geography (APAC, Europe, North America, South Americaand Middle East and Africa) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the industrial planetary mixers market between 2021 and 2026 is USD 37.32 million. 47% of the market’s growth will originate from APAC during the forecast period. To get the exact yearly growth variance and the YOY growth rate, Download Sample Report.

• Application
• Architectural purposes
• Corrosion protection
• Medical
• Others
• Geography
• APAC
• Europe
• North America
• South America
• The Middle East and Africa

APAC will account for 47% of market growth. The chromium phosphate market in APAC is primarily dominated by China, Japanand India. This region’s market will expand more quickly than those in other areas. The growing production of automobiles and related components will facilitate the chromium phosphate market growth in APAC over the forecast period. To know about additional segments. Buy our Sample Report.

• American Elements
• BASF SE
• CHEMOS GmbH and Co. KG
• Merck KGaA
• Nippon Chemical Industrial Co. Ltd.
• Oxkem Ltd
• Shanghai Danfan Network Science and Technology Co Ltd

• American Elements – Under the segment, the company operates offers Yard signs and window decals, Motion detectors, Digital panels, Entryway contacts, and more.
• CHEMOS GmbH and Co. KG – The company offers home security cameras namely Arlo Pro 3 Floodlight Cameras, doorbell cameras, and Arlo security cameras.
• Oxkem Ltd. – The company offers home security cameras named Next Gen wireless camera with LED lights, wireless camera that detects motions, AI-based solutions, and Guard protection.

View our sample report for additional insights into vendor offerings.

• Market Driver – The growing automotive industry in APAC is one of the key drivers supporting the chromium phosphate market growth. Factors such as rapid industrialization and rising 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.
• Market Challenges – 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 posing a serious challenge to the growth of the market during the forecast period.

To learn about additional key drivers, trends, and challenges available with Technavio. Read our Sample Report right now!

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