Global Chromium Market, By Grade (Metallurgical Grade, Refractory and Foundary Grade, Chemical Intermediary Grade, Others), Application (Stainless Steel Production, Alloyed Steel Production, Non-Ferrous Alloy Production, Refractory Additives, Others), Type (Chromium, Chromium Ore, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Chromium Market
Chromium market will expect to grow at a rate of 3.50% for the forecast period of 2021 to 2028. Chromium market report analyses the growth, which is currently being growing due to the rising demand from the stainless steel industry.
Chromium is a chemical component bearing the symbol Cr and is a lustrous and brittle steely-grey. Chromium is a hard metal with properties that are resistant to corrosion. When polished, chromium gains a very shiny surface that is used to plate other metals to produce a protective and appealing coating. In many uses, such as metal ceramics, chrome plating, dyes and paints, alloy-stainless steel, chromium is commonly used as a catalyst for leather dyeing and tanning.
The growing demand of the product due to its superior corrosion resistance properties, rising number of applications in automotive, aerospace, defence, marine, building and construction, and electronics, increasing demand of the product in various chemical processes and metallurgical uses, rapid urbanization as well as industrialization across the globe, surging levels of investment for the development of the infrastructure are some of the major as well as vital factors which will likely to augment the growth of the chromium market in the projected timeframe of 2021-2028. On the other hand, growing usage of chromium as an element in steel metal for decorative plating in the automotive sector along with adoption of advanced technology which will further contribute by generating massive opportunities that will lead to the growth of the chromium market in the above mentioned projected timeframe.
Volatility in the prices of raw material along with carcinogenic properties of chromium which will likely to act as market restraints factor for the growth of the chromium in the above mentioned projected timeframe. Associated health effect of the product which will become the biggest and foremost challenge for the growth of the market.
This chromium market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on chromium market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Chromium Market Scope and Market Size
Chromium market is segmented on the basis of type, grade and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the chromium market is segmented into chromium, chromium ore, and others.
- Based on grade, the chromium market is segmented into metallurgical grade, refractory and foundary grade, chemical intermediary grade, and others. Metallurgical grade segment will hold the largest share in the growth of the market due to the prevalence of various stainless steel and high resistance steel manufacturers.
- Chromium market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for chromium market includes stainless steel production, alloyed steel production, non-ferrous alloy production, refractory additives, and others. Others have been further segmented into chemicals sector and automotive sector. Chemical sector segment will hold the largest share in the growth of the market due to the increasing usage of product as process material for surface treatment of various metals and feed material.
Chromium Market Country Level Analysis
Chromium market is analysed and market size, volume information is provided by country, type, grade, and application as referenced above.
The countries covered in the chromium market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the chromium market due to the prevalence of various major stainless steel manufacturing units in the region. Europe region is expected to hold the largest growth rate due to the rising production of chromium ore along with prevalence of some major stainless steel manufacturing units in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Chromium Market Share Analysis
Chromium market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to chromium market.
The major players covered in the chromium market report are Mining Africa.; Glencore; Samancor Chrome.; Assore House; Odisha Mining Corporation Ltd.; HERNIC.; Al Tamman Indsil FerroChrome L.L.C; Gulf Mining Materials Co; MVC Holdings, LLC.; International Ferro Metals Limited; Chrometco Limited; Ferbasa; Eurasian Resources Group; Belmont Metals; U.S. Chrome Corporation; RD MATHIS COMPANY; Inorganic Ventures, Inc.; ACI Alloys; ProChem, Inc International.; Edgetech Industries LLC; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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