Albany, NY -- (SBWIRE) -- 12/07/2018 -- Global Zinc Phosphate Market: Overview
Zinc phosphate is widely used in corrosion resistance coatings in the form of electroplating or primer coats. It is usually applied on ferrous metals, as they are prone to corrosion by frequent contact with air and moisture. The wide application range of ferrous metals has been a crucial driver for the global zinc phosphate market and is likely to remain the key factor enabling steady growth of the industry in the coming years.
The report studies the historical trajectory of the global zinc phosphate market and presents a comprehensive overview of the market's figures in 2015. A solid analysis of the zinc phosphate market's latest figures forms the basis for reliable predictions regarding the market's growth trajectory in the 2016-2024 forecast period. The report uses industry-standard analysis tools and sources to ensure the accuracy of the information it delivers.
Global Zinc Phosphate Market: Trends and Opportunities
The prime driver for the global zinc phosphate market is the flourishing performance of multiple end-use industries. Due to the relatively cheap prices and high mechanical strength of ferrous materials, they are widely utilized in many areas where structural rigidity is valued.
The booming construction industry is thus an important driver for the global zinc phosphate market. Following the global economic concerns in 2008-09, the construction industry has benefited from the steady demand for new residential and commercial construction in developing regions and the steady demand for restorative projects in developed regions. The increasing disposable income of consumers in emerging economies is likely to keep the impact of this factor on the global zinc phosphate market high in the coming years.
The rapid growth of the automotive industry in recent years has also had a notable impact on the trajectory of the zinc phosphate market. Due to the demand for stronger and more reliable automobiles with components that last much longer than those in older vehicles, zinc phosphate coatings have gained widespread demand from the global automotive industry and are likely to remain popular in the coming years. The rising demand for automotive electronics has also helped the demand for zinc phosphate coatings, as they help keep the components free from corrosion.
The rising volume of marine trade has also been a crucial driver for the global zinc phosphate market, as it has driven the demand for new ships. Since ships are constantly exposed to the highly corrosive seawater and salt-rich air, the protective benefits imparted by zinc phosphate have taken on an important role.
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Global Zinc Phosphate Market: Geographical and Competitive Dynamics
Asia Pacific is likely to be the dominant regional market for zinc phosphate in the coming years due to the rising demand for zinc phosphate coatings in the region's booming construction and automotive industries. The rapid economic progress of developing countries such as China and India has led to steady growth of these industries and is thus a key driver for the Asia Pacific zinc phosphate market. The marine industry is also flourishing in China and is likely to contribute significantly to the growth of the zinc phosphate market in Asia Pacific in the coming years.
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