Potassium Zirconium Fluoride Market Share

North American Market Forecast

North America industry is likely to hold largest revenue share of 35% by 2037, owing to the rapidly growing construction sector, strong presence of market players in the region. Also, the increasing demand for welding and plating applications is estimated to increase the utilization rate of potassium zirconium fluoride in the region. Along with that, the presence of favorable policies and initiatives by the government and the availability of major key players is also anticipated to create a positive outlook for market growth in the upcoming years.

Europe Market Forecast

The European potassium zirconium fluoride market is estimated to be the second largest, registering a share of about 24% by the end of 2037. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing technological advancements in the automobile industry, and rising demand for premium-quality welding products in the region. In addition, high manufacturing output, especially in China and India, is also expected to drive market growth in the region in the coming years. In 2020, China’s manufacturing output was about USD 4,000 billion, up from USD 3,700 billion in 2019 and USD 3,600 billion in 2018, respectively.

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2036. The favorable initiatives started by the European government for the introduction of potassium zirconium fluoride for various applications in numerous industries are considered to be one of the major reasons for market growth in the region during the forecast period. In addition to the other factors, the growing industrialization is exhibited by augmenting industrial output as well as increasing investment in the research and development sector backed by expanding technical expertise, resources, and competitive edge of the existing electronic manufacturing company in the region.