Market Size of Chromium Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 43.19 kilotons |
| Market Volume (2029) | 52.33 kilotons |
| CAGR (2024 - 2029) | 3.91 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chromium Market Analysis
The Chromium Market size is estimated at 43.19 kilotons in 2024, and is expected to reach 52.33 kilotons by 2029, growing at a CAGR of 3.91% during the forecast period (2024-2029).
The COVID-19 pandemic had a big effect on the chromium market because of the global restrictions on the auto, building, and construction industries. However, since 2021, industries have grown, and the market is expected to do the same during the forecast period.
- Over the medium term, the growing demand for metallurgical uses and increasing refractory applications in industries are expected to drive market growth.
- However, exposure to chromium can cause health and environmental effects, which are expected to hinder market growth.
- In the coming years, the development of the trivalent chromium hard chrome plating process is likely to lead to market growth.
- Asia-Pacific has led the market for the past few years, and it is also expected to register the highest CAGR during the forecast period.
