The growing demand from the stainless steel industry and superior corrosion resistance properties are driving the need for the market.
Reports and Data’s latest industry analysis report titled ‘Global Chromium Market’ provides the reader with an exhaustive overview of the Chromium industry. The report is inclusive of a concise market summary and contains market projections based on the present market situation, current market size, and revenue growth rate. The report elaborates on the key market dynamics including market growth drivers, opportunities, threats, and challenges. In this report, market analysts at Reports and Data have emphasized the ever-changing market growth patterns and the dynamic environment of the industry. Key attractions of the report include List of Tables and Figures, Research Methodology, Competitive Landscape, Regional Analysis, Technological Breakthroughs, and Future Market Developments.
A significant and rising pattern in the worldwide market is the expanding demand, as a component in steel metal for decorative plating in-car division. Expanding requests from the hardened steel industry for different end-use markets, for example, car, aviation, resistance, marine, building and construction, and gadgets, are required to be the key development factor. Moreover, critical interest from the Asia Pacific is foreseen to fuel the market over the following years. China was the biggest purchaser of the item as it is perhaps the biggest maker of treated steel and other steel items.
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Further key findings from the report suggest
- Owing to its properties, such as good weldability, corrosion resistance, machinability, and electrical conductivity, the metal plays a vital role in the stainless-steel industry, which further satisfies the demand from end-use industries.
- The production of motor vehicles in India and Thailand is rising at a considerable pace, along with the increasing use of chromium per vehicle. This has given rise to lucrative opportunities on the APAC market and is growing with a CAGR of 2.7% in the region.
- In 2019 the chemical segment was estimated to generate a revenue of USD 1.34 billion and was projected to see modest market growth in the coming years. The chemicals used include chromium oxide, chromic acid, and potassium dichromate.
- Chromium finds broad application across sections, for example, chrome plating, metal earthenware production, colors and paints, and indifferent super amalgams. It is additionally utilized in metallurgy to render a sparkly completion and confer erosion obstruction.
- The demand for the market is limited. Most of the large and existing market players sell and distribute widely to clients worldwide. Conversely, most of the smaller players are based on their regional markets.
- Key participants include Gulf Mining Group LLC, MVC Holdings LLC, AI Tamman Indsil Ferochrome LLC, CVK Group, Hernic Ferrochrome (Pty) Ltd., Odisha Mining Corporation, Assmang Proprietary Ltd., Samancor Chrome, Glencore PLC, and Kermas Group Ltd., among others.
Regional Outlook
The key regions covered in the report are as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Chromium
- Chromium Ore
- Others
Grade Outlook (Revenue, USD Billion; 2017-2027)
- Metallurgy
- Chemicals
- Refractory
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Stainless steel production
- Alloyed steel production
- Non-ferrous alloy production
- Refractory additives
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Chromium market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Chromium market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Chromium market key players
3.2 Global Chromium size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Chromium market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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