Chromium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Chromium Market is segmented by Application (Chemical, Metallurgical, Refractory, and Others) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Chromium Market Snapshot

Chromium Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <4 %

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Market Overview

The market for the chromium market is expected to grow at a CAGR of approximately 4% globally during the forecast period.

  • Rising usage of chromium alloying with other metals in automobiles, construction equipment, commercial and military aircraft engines is driving the market growth.
  • Exposure to chromium can cause health and environmental effects are expected to hinder the market growth.

Scope of the Report

The Chromium Market report include:

Application
Chemical
Metallurgical
Refractory
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Metallurgical Applications to Witness Growth in Future

  • Chromium has been increasingly used in metallurgical processes to increase hardenability, creep and impact strengths, resistance to corrosion, oxidation to other metals for automobile applications.
  • In the production of stainless steel, chromium is being used for hardening steel and increases its resistance to corrosion includes withstanding to high temperatures uses in construction equipment, heavy machinery, and fabricated metal products.
  • Alloying chromium in metallurgical processes with other metals can aid in making products useful in commercial and military aircraft engines including stainless steel tankers, acids and in bulk hopper trailers to haul fertilizers and hygroscopic materials.
  • The global stainless steel production largely relies on chromium supply. China, a major producer of steel, produces and supplies a large quantity of stainless steel and exports to various countries by importing chromium from South Africa.
Chromium Market Volume Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is expected to dominate the global market owing to the highly developed manufacturing industries in China, coupled with the continuous investments done in the region to advance the chemical sector through the years.
  • Asia-Pacific produces larger quantities of stainless steel than other regions by using chromium and exports to other regions because of the growing demand for stainless steel around the world from every manufacturing sector.
  • China leads the chromium market because owing to a constant rise in demand, with the increase in population and technological advancements in the form of chromium chemicals, primarily sodium chromate and sodium dichromate in leather tanning, textile mordants, and dyes.
  • The chemical industry is significantly expanding in the Asia-Pacific region. Chromium is used as a catalyst in oxidation reactions, ethylene polymerization and oligomerization catalysts that are used for industrial production of polyethylene and 1-hexene and these properties are expected to drive the market for chromium through the years to come.
Chromium Market Regional Trends

Competitive Landscape

The global chromium market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Kermas Group Ltd, Assmang Proprietary Limited, CVK Group, Glencore PLC, Odisha Mining Corporation, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for Metallurgical Uses

      2. 4.1.2 Increasing Applications for Chemical Purposes

    2. 4.2 Restraints

      1. 4.2.1 Associated Health Effects

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Chemical

      2. 5.1.2 Metallurgical

      3. 5.1.3 Refractory

      4. 5.1.4 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 France

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Al Tamman Indsil FerroChrome

      2. 6.4.2 Assmang Proprietary Limited

      3. 6.4.3 CVK Group

      4. 6.4.4 Glencore PLC

      5. 6.4.5 Gulf Mining Group LLC

      6. 6.4.6 Hernic Ferrochrome (Pty) Ltd

      7. 6.4.7 International Ferro Metals

      8. 6.4.8 Kermas Group Ltd

      9. 6.4.9 MVC Holdings LLC

      10. 6.4.10 Odisha Mining Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Usage in Stainless Steel Production

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Chromium Market market is studied from 2016 - 2026.

The Chromium Market is growing at a CAGR of <4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Kermas Group Ltd, Assmang Proprietary Limited, CVK Group, Glencore PLC, Odisha Mining Corporation are the major companies operating in Chromium Market.

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