Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Chromium Oxide market.
Trusted Business Insights presents an updated and Latest Study on Chromium Oxide Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Chromium Oxide market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Chromium Oxide Market Size, Share & Industry Analysis, By Type (Pigment Grade, Metallurgical Grade, Refractory Grade, Chemical Grade), By Application (Paints & Coatings, Ceramic, Metallurgy, Rubber, Others), and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
The global chromium oxide market size was USD 492.4 million in 2018 is projected to reach USD 703.3 million by 2026, exhibiting a CAGR of 4.6% during the forecast period.
We have updated the Chromium Oxide Market with business impact analysis and disruption caused by COVID-19.
Inquire before buying
Chromium oxide, an inorganic compound and one of the major oxides of chromium, is available in many forms such as powdered, nanopowder, pellets, and pieces. It is used as a pigment in several applications and is known as chromia and chrome green due to its green color. Chromium oxide has properties like wear resistance, abrasion resistance, and resistance to chemicals which makes it suitable for the use in applications such as coatings, paints, ceramics, glass, inks, and can be used as a catalyst. The properties of chromium oxide also include heat stability and dispersibility.
Chrome green is available in various grades namely, pigment, metallurgical, refractory, and chemical, based on its use in varied applications. The majorly used grades are pigment and metallurgical grades for the purpose of imparting color to cement bricks, to provide protective coatings to the various materials and to produce chromium metal for the manufacture of stainless steel. The increasing use of chromium oxide for different applications, owing to its properties, is expected to propel the chromium oxide market growth.
Rising Demand for Chromium Oxide Owing to a Rise in Construction and Steel Industries
The demand for chromium oxide is gaining momentum in various applications such as the construction of residential and commercial buildings, where it is used as cement colorant, decorative coatings, and other materials. The use of chrome green as a pigment is ideal for coloring materials which are used in construction, owing to their properties such as wear-resistance and resistance to chemicals. This is expected to propel the chrome green market growth.
Additionally, the demand for chromium oxide in the steel industry is also driving the market. Chromium oxide is used as a raw material for the production chromium metal which is used in manufacturing of stainless steel. Chromium metal provides high resistance to corrosion and produces a smooth finish and is also used as coating on metal components of cars, and motorbikes. Rising demand for stainless steel from various end use industries such as automotive & transportation, construction & infrastructure, consumer goods and medical is expected to lead to an upsurge in the chromia market.
By Type Analysis
The Pigment Grade Expected to Generate the Highest Revenue during the Forecast Period
The chromium oxide market is segmented into pigment grade, metallurgical grade, refractory grade, and chemical grade, on the basis of types. Amongst these, pigment grade accounts for the largest market share owing to the increased use of chromium oxide in the production of paints & coatings, plastics, enamels, ceramics, sports surfaces, and cosmetics. Pigment grade remains unaffected by alkalis, acids, solvents and also has corrosion resistance properties that make chromium oxide a suitable material for use in coatings. The growing paints & coatings industry is another factor driving the chromium oxide market.
Metallurgical grade of chromium oxide is majorly used to produce chromium metal. In stainless steel, the chromium oxide forms a layer on the surface and further protects the metal from corrosion. Increase in demand for metallurgical grade chromium oxide from automotive & metal processing industries for use of chromium in the production of stainless steel or in automotive parts is expected to grow the chromia market.
Refractory grade chromium oxide is generally used for the production of refractory bricks to line furnaces, mortars, high-temperature ovens, and in production of fire-proof surfaces, anticorrosive surfaces, tiles, and color bricks. The refractory grade of chromium oxide can withstand high temperatures and additionally can provide good mechanical strength, corrosion resistance, and resistance against thermal shock. A rise in demand for refractory grade of chromium oxide from several industries owing to its properties is expected to grow the chromium oxide market size substantially. The chemical grade is highly suitable for polishing of leathers, optical surfaces, precious stones and gems like emerald, ruby, sapphire, and for chemical synthesis in the laboratories and universities. Growing demand for chemical-grade from consumer and chemical industries is expected to provide growth opportunities for the chromium oxide market trends.
By Application Analysis
The Metallurgy Segment Accounted for the Dominant Market Volume in 2018, and is Expected to Continue to Remain Dominant Throughout the Forecast Period
The chromium oxide market is categorized into paints & coatings, ceramic, metallurgy, rubber, and others, on the basis of application. Amongst these applications, the metallurgy segment is expected to remain dominant in terms of market volume during the forecast period. The metallurgical application of chromium oxide mainly includes the production of chrome metal that is further used in production of stainless steel. Increasing use of stainless steel in industries such as automotive and construction is expected to increase the demand for chromium oxide.
The use of chromium oxide for paints & coatings is growing at a significant CAGR owing to its properties such as resistance to chemicals, weather, and climatic changes. Additionally, the use of chromium oxide in ceramics is related to glasses, tiles, roofing, refractory bricks, and mortars. This material can withstand high temperature and provide good mechanical strength, and resistance from thermal shock, hence, is in demand from refractory industry.
Asia Pacific accounted for the highest market share in 2018 and is expected to remain the largest throughout the forecast period due to expanding metal and building & construction industries in countries such as China and India. Increasing demand for chromium oxide is attributed to its applications in paints & coatings, and metallurgy, along with high automotive production which is driving the chrome green market value in the Asia Pacific region. Additionally, growing industrialization and urbanization that would increase the need for coatings is also driving the chrome green market value in Asia Pacific region.
Europe is projected to witness significant growth in the global market. The increasing demand for chromium oxide from the metal and building & construction industries would contribute to the chromium oxide market growth in the region. Furthermore, the use of chromium oxide in plastics and ceramics is another factor increasing the use of chromium oxide because of its high rigidity and tensile strength.
On the other hand, North America is expected to witness significant growth in the global chromium oxide market. The U.S. is a major consumer of chromium-based chemicals and chromium oxide owing to its large consumption in paints & coatings, and metallurgy applications.
In the Middle East & Africa, increased demand for chromium oxide for pigment production is one of the major factors influencing the growth. In this region, paints & coatings are largely used application for chromium oxide. The rise in demand for long-lasting, anti-corrosive, and abrasive resistant coating from the various industries has increased the consumption of chromium oxide.
South America is expected to observe substantial growth in the market. Brazil is the largest market for chromium oxide in this region. Use of chromium oxide in numerous applications comprising of coatings for materials, and the production of chromium metal remains the market trend for Brazil.
INDUSTRY KEY PLAYERS
Market Players like LANXESS, ELEMENTIS, Luoyang Zhengjie, and Hebei Chromate Chemical Would Strengthen the Market Position with Respect to Providing Chromium Oxide Solutions to the Metal and Paint & Coatings Industries
The major producers of chromium oxide are present in the Asia Pacific and Europe. One of the major company LANXESS deals with advanced intermediates, specialty additives, performance chemicals, and engineering materials. It provides inorganic pigments including chromium oxide as one of its constituents. The company has shown dominance around the globe by applying the acquisition strategy. ELEMENTIS is expanding throughout the globe by using its new Reignite Growth strategy and providing diversified range of chromic oxide grades. ELEMENTIS has strong influence in Europe region.
List Of Key Companies Covered
- MidUral Group
- Vishnu Chemicals Ltd.
- Hunter Chemical LLC
- Sichuan Yinhe Chemicals
- Hebei Chromate Chemical Co. Ltd.
- Luoyang Zhengjie Science & Technology Industry Trade Co.,Ltd
- Shijiazhuang Jirong Chemicals Co. Ltd.
- NIPPON CHEMICAL INDUSTRIAL CO., LTD.
- Other Players
Along with this, the chromium oxide market report provides an elaborative analysis of the global chrome green market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global chrome green market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape and company profiles.
Report Scope & Segmentation
- Pigment Grade
- Metallurgical Grade
- Refractory Grade
- Chemical Grade
- Paints & Coatings
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, UK, Itlay, Russia, and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, Australia, Indonesia, Thailand, Malaysia, Philippines, Vietnam
- and Rest of Asia Pacific)
- Middle East & Africa (Turkey, GCC Countries, Egypt, South Africa, and Rest Of Middle East & Africa)
- South America (Brazil, and Rest of Latin America)
Quick Read Table of Contents of this Report @ Chromium Oxide Market Size, Share & Industry Analysis, By Type (Pigment Grade, Metallurgical Grade, Refractory Grade, Chemical Grade), By Application (Paints & Coatings, Ceramic, Metallurgy, Rubber, Others), and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580