Application development in the medical industry expected to drive market demand
San Francisco, California (PRWEB) January 28, 2014
The global market for Chromium Phosphate 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.
The report “Chromium Phosphate Industry Trends and Market Segment Forecasts to 2020” is available now to Grand View Research customers and can also be purchased directly at http://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
Sample Report View: http://www.grandviewresearch.com/request/203
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
For the purpose of this study, Grand View Research has segmented the global chromium phosphate market on the basis of application and region:
Chromium Phosp Application Outlook,
Corrosion Inhibitor Coatings
Others (Catalysts, Lasers, etc.)
Chromium Phosphate Regional Outlook,
Rest of the World
Browse All Reports of this Category: http://www.grandviewresearch.com/industry/bulk-chemicals
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
Corporate Sales Specialist, USA
Grand View Research, Inc
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