Global Zinc Phosphate Market: Trends and OpportunitiesThe 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.
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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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