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Zirconium Octoate Market By Type (Zirconium Octoate 6%, Zirconium Octoate 12%, Zirconium Octoate 18%, Zirconium Octoate 24%) By Application (Paints & Coatings, Printing Inks, Others) - Growth, Share, Opportunities & Competitive Analysis, 2016 -2028

How has the Increase influenced the Zirconium Octoate Market's Expansion in the Paints and Coatings Industry?

As an organometallic chemical, zirconium octoate is a zirconium source soluble in organic solvents (also known as metalorganic, organo-inorganic, and metalo-organic compounds). Zirconium octoate is frequently utilized as a paint drier and catalyst. In most volumes, it is typically available right away. This substance is added to the paint medium with auxiliary driers like Cobalt to improve the performance of varnishes and paints. Zirconium Octoate is in high demand from clients because of its several attributes, including its effectiveness and precise composition. The zirconium octoate market for paints and coatings is predicted to grow during the forecast period due to increased construction activity in both developing and developed countries. In addition, the growing need for sustainable products in the architectural sector is expected to drive the market in the future years.

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Furthermore, the government's increased investments and development activities are expected to boost market expansion during the forecast period. As a result, the paints & coatings industry is expected to expand from USD 184 billion in 2021 to USD 212 billion in 2026. Paints and coatings are commonly used in residential construction to prevent shrinkage and cracks in concrete while improving its aesthetic quality and workability. Economic expansion and better wages have resulted in the construction of several new residences and the remodeling of older ones in recent years. Fresh paint and repainting are architectural paints and coatings for residential buildings. Paints, stains, lacquers, primers, and cleansers are examples of architectural and functional coatings. All these factors are influencing the growth of the zirconium octoate market over the forecast period. 

What is the Market Size of Zirconium Octoate in terms of Value?

The global Zirconium Octoate market is projected to increase at a significant CAGR of xx% in the coming years. In 2021, the global Zirconium Octoate market was valued at USD xx million. The market is expected to reach USD xx million by 2028. The demand for Zirconium Octoate will increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD xx million between 2022 and 2028.                     

Which are Various Applications of Zirconium Octoate?

The auxiliary drier zirconium octoate is highly effective. It is used to improve the performance of paints and varnishes in paint medium along with Cobalt and other auxiliary driers. Due to its stabilizing impact on the ester linkages in the media, zirconium octoate is the most helpful drier for water-resistant coatings. Zirconium Octoate outperforms Lead regarding gloss retention, color retention, and color stability, but not while drying under challenging conditions like low temperatures and high humidity. Due to its stabilizing impact on the ester linkages in the media, zirconium octoate is the most helpful drier for water-resistant coatings. In addition, zirconium enhances hardness and provides superior adherence. It is utilized in wire enamels because of its abrasion resistance.

Interesting Facts about Zirconium Octoate Industry

  • Paints and coatings are commonly used in the architectural, automotive, transportation, and forestry industries. In addition, they are frequently employed in the construction and architectural fields to protect buildings from external harm. The growing demand for paints and coatings drives growth in the zirconium octoate industry.
  • The North American region dominated the global market for Zirconium Octoate in 2021, and this dominance is expected to continue in the near future.
  • In conjunction with cobalt and cerium octoate, Zirconium octoate is frequently used in white paints because it lessens the tendency of the white film to yellow and preserves the whiteness by shielding the film from any weather impacts. 
  • The major market participants use a variety of techniques to grow their companies. These tactics include joining forces with other businesses to develop strategic alliances, acquisitions, partnerships, and collaborations.

Who are the Top 10 Players/Companies in the Zirconium Octoate market in terms of Value?

The key players in the global Zirconium Octoate market in terms of Value Patcham (FZC), Maldeep Catalysts, Ege Kimya, Borchers (Milliken), Chemelyne Specialities, DURA Chemicals, Goldstab Organics, Akpa Kimya, Ambani Organics, OPTICHEM, Troy Corporation, Venator, 0, DIC Corporation, Casal de Rey & Cia, Comar Chemicals, Arum Pharmachem, Arihant Metallica, Bhagwati Allied Products, Chemitis (Petro Octane Isatis), Pau Tai Industrial (Thailand) and Sunflag Chemicals. To increase the quality of their Cocaine Intoxication production and gain a competitive market share on a global scale, these top competitors are concentrating on new product development as well as technical innovation. Market players are launching new goods and forming new alliances, partnerships, and collaborations. As a result, essential organizations have strategically increased their market presence and maintained a competitive advantage. To broaden their product offerings and meet the demand for zirconium octoate, market participants are also working on product development, cooperation and partnership models, agreements, corporate expansion, and merger and acquisition strategies.

Who are the Top 10 Countries in the Zirconium Octoate Market?

The major countries in the global Zirconium Octoate market are the US, Canada, Mexico, China, Japan, India, Italy, Spain, Russia, and the U.K. The market in the United States has the largest share. The U.S. is one of the world's top consumers of paints for use in building and automotive applications, which will support the zirconium octoate market's expansion. As of June 2019 and July 2021, the U.S. paint manufacturing sector generated total revenues of about 32 billion USD and 29.3 billion USD, respectively. As of July 2021, the U.S. paint manufacturing industry employs over 35,400 workers. These compounds are primarily utilized in the United States to produce automobile refinishinf and renovate aging infrastructure. The market expansion in this area will be primarily driven by the continued use of novel technology, rising disposable income, and increasing consolidation of used vehicles.

Which is the Key Application Segment in the Zirconium Octoate Market?

Due to an increase in construction activity in developing and developed nations, the market for paints and coatings is anticipated to grow throughout the forecast period. Additionally, it is projected that the market will be driven in the upcoming years by the growing need for sustainable products in the architectural sector. Furthermore, during the forecast period, the government's rising investments and development activities are anticipated to drive market growth.

What are the Major Driving Factors for Zirconium Octoate Market?

Paints and coatings are widely utilized in the building, automotive, transportation, and timber industries. In addition, they are used extensively in the architecture and construction industries to protect structures from external damage. The market for zirconium octoate is expanding because of the rising demand for paints and coatings. Paints and coatings are primarily used to adorn and protect structures and infrastructure. Interior and exterior house paints, primers, sealers, varnishes, and stains are examples of architectural upgrades. The expansion of the paints and coatings industry drives up the demand for Zirconium Octoate. In addition, the rising demand for printing inks propels the Zirconium Octoate market forward. Furthermore, the increased need for bio-based printing inks will likely drive Zirconium Octoate market growth.

What are the Major Restraints for Zirconium Octoate Market?

The limitations to maximizing income in the Zirconium Octoate market share include the fluctuating raw material prices. One of the significant problems in the worldwide zirconium octoate market is production and storage. These compounds ought to be produced in a secure, sterile environment and undergo routine, extensive inspections. Significant expenditure in both money and labour will be required to store and move this Zirconium Octoate.

Which Region Dominated the World Zirconium Octoate Market?

In 2021, North America dominated the Zirconium Octoate market over the forecast period. The growth of the Zirconium Octoate market will be aided by the fact that the United States is a significant global consumer of paints for building and automotive applications. These goods are primarily utilized in the United States to renovate and refurbish aging infrastructure and to make automotive refinish. In addition, continuous use of novel technology, rising disposable income, and increased consolidation of used vehicles are key drivers driving Zirconium Octoate's market expansion in this region.

The Asia-Pacific is expected to grow significantly. This is due to increased building and construction activity and the automobile industry in China, Japan, and India. In addition, the application of paints and coatings in coatings of residential and non-residential infrastructures is driving demand for them, driving the zirconium octoate market growth over the forecast period. They are mostly used to decorate walls, windows, and furniture. China is the largest customer since the country's expanding population drives the rise of the residential construction sector, which fuels the market growth. Furthermore, their application in the automotive industry raises market value in the Asia Pacific. The China National Coatings Industry Association reports that the sector has recently experienced growth of 7%. According to estimates, China will start working on at least 10 sizeable coatings investment projects in 2019. Nippon has taken advantage of this market by improving how coatings are produced in its new plants in China.

Segmentation of Global Zirconium Octoate Market-

Global Zirconium Octoate Market – By Type

  • Zirconium Octoate 6%
  • Zirconium Octoate 12%
  • Zirconium Octoate 18%
  • Zirconium Octoate 24%

Global Zirconium Octoate Market – By Application

  • Paints & Coatings
  • Printing Inks
  • Others

Frequently asked questions about the global Zirconium Octoate industry

The global Zirconium Octoate market is expected to be impacted significantly by COVID-19.

North America accounted for the highest share in the global Zirconium Octoate market in terms of Value.

The architectural, automotive, transportation, and forestry industries use paints and coatings extensively. They are widely used in the building and architecture sectors to shield structures from damage from the outside. The market for zirconium octoate is expanding because of the rising demand for paints and coatings.

Zirconium Octoate, 12% segment, had a significant share in 2021 with more than 40% of the market revenue share.

Paints & coatings segment had a significant share in 2021, with more than 45%% of the market revenue share.

Zirconium Octoate Market Scope

Report Attribute Details
Market Value in 2021 USD xx million
Market Value in 2028 USD xx million
CAGR xx%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Published Date:  Aug 2022
Category:  Chemicals
Report ID:   60593
Report Format:   PDF
Pages:   190
Rating:    4.7 (55)
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