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In the first quarter of 2023, the Asia Pacific region witnessed a surge in zinc phosphate prices due to robust demand, steady supply, and increased imports. However, this positive trend was short-lived, waning in the latter part of the first quarter and continuing into the second quarter.
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Expanded production capacities led to oversupply, contributing to ongoing price declines. In Europe, geopolitical disruptions related to the Russia-Ukraine crisis created challenges throughout the first quarter, resulting in a significant and gradual decline in zinc phosphate prices that extended into the second quarter.
Meanwhile, North America experienced gradual price declines in the first quarter due to low demand and diminishing market confidence. The second quarter saw declining demand from the automobile and construction industries, with a weakening economy further eroding buyer confidence, intensifying the drop in zinc phosphate prices.
Definition
Zinc phosphate is a chemical compound with the formula Zn3(PO4)2. It is a white, crystalline powder that is insoluble in water but can dissolve in acids. Zinc phosphate is widely used as a corrosion inhibitor and rust converter in various coatings, particularly in the automotive and construction industries. Its chemical properties include excellent adhesion to metal surfaces, providing a protective barrier against corrosion. This compound can also act as a pigment in paints, imparting anti-corrosive properties to the coatings. Additionally, zinc phosphate serves as a bonding agent in dental cements and plays a role in the synthesis of various chemicals.
Key Details About the Zinc phosphate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Zinc phosphate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Zinc phosphate Price Trends, including India Zinc phosphate price, USA Zinc phosphate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Zinc phosphate Price Trend:
Zinc phosphate finds a multitude of industrial applications owing to its excellent anti-corrosive properties and versatile nature. One of its primary uses is in the coatings industry, where it is employed as a corrosion inhibitor and rust converter. Zinc phosphate coatings are extensively used in the automotive and construction sectors to protect metal surfaces from corrosion and enhance their longevity.
It also acts as a pigment in paints, contributing to both the anti-corrosive properties and the coloration of the coatings. Furthermore, zinc phosphate is utilized as a bonding agent in dental cements for dental applications. In the chemical industry, it plays a role in the synthesis of various chemicals. These wide-ranging industrial uses highlight the significance of zinc phosphate in corrosion protection and other applications across different sectors.
Key Players:
- Henkel Corporation
- Chem Processing Inc
- ALFA Chemicals Ltd
- Haward Corporation
- WPC Technology
- Hanchang Industries
- Xinsheng Chemical
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