Chromium Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2025

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WiseGuyRerports.com Presents “Global Chromium Market Insights, Forecast to 2025” New Document to its Studies Database

PUNE, MAHARASTRA, INDIA, October 23, 2019 /EINPresswire.com/ -- The economic condition across the world is growing rapidly. This has driven the sale of automobiles. This is another major factor propelling the global market. The experts have stated that the growing demand for thin high-quality coating in the automobile sector, which doesn’t just reduce the cost but also lowers the environmental effects, has led to higher demand in global market. The new market report suggests that during the forecast period, i.e., from 2019 to 2025, the global market for this element will grow at around 5 percent of CAGR.

Chromium is an essential chemical element. Its atomic number is 24, and the symbol is Cr. Moreover, it is group 6’s first element. Taking about its nature, Cr is a lustrous, hard, steel-grey and brittle metals. The metal has a high level of melting point. In general, Cr is a crucial alloy element which is used in the stainless-steel formulation. As the demand for stainless steel is getting higher with time, this will equally affect the demand for Cr in the market.

Around 18 percent of stainless-steel composition is comprised of Cr. This element greatly enhances the hardness of stainless steel. Besides, it makes stainless steel oxidation resistance and protects it from corrosion. In developing countries like Japan, India, China, etc, construction activities, and infrastructural development are rising at a higher rate. This will positively affect the growth of Global Chromium market in the coming years. It may be noted that some of these countries are not only consumers but also vital producers.


Market Key Players:

Kermas Group Ltd.
Glencore PLC.
Samancor Chrome
Assmang Proprietary Limited
Odisha Mining Corporation
Hernic Ferrochrome (Pty) Ltd.
CVK Group
Al Tamman Indsil FerroChrome LLC.
Gulf Mining Group LLC.

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Global Market Segmentation

The entire market is breakdown by product type, applications or end-users, and geography. Based on the product type, it is split into Chromite Ore, Chromium, and Other. The Chromite ore segment is expected to enjoy maximum share in terms of profit in the coming years. Considering its application, the market is segmented into Chemicals, Metallurgy, Refractory, and Others. The metallurgy segment was the leading application segment in the year 2017. The same trend is expected to continue during the forecast period. In the year 2016, the chemical segment was valued at USD 708 million, and the segment will register about .9 percent of CAGR in following years.

Geographical Market Segmentation

Regional segmentation of the World Chromium market includes some major regions such as Asia Pacific, Europe, North America, South America, Middle East, and Africa. In 2016, the Asia Pacific was the leading market and accounted for 50 percent of the total market revenue. The market is set to enjoy different profitable opportunities in the coming years. The major Asian countries, such as India, China, Japan has key stainless-steel manufacturing companies who are propelling the growth of this market. Besides, India is leading Cr ore producers and exports high-quality Cr to different countries. In the second place, there will be Europe region.

Market Updates

Recently, Gulf Mining Group acquired some advanced mining techniques to increase the company’s mining production capacity. The company is also planning to expand its business to the countries by acquiring businesses from different countries. Besides the company is doing various CRS activities to increase its brand image in the regional market. 

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Table Of Content:     

1 Market Overview

2 Global Market Competition by Manufacturers

3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)

4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)

5 Global Production, Revenue (Value), Price Trend by Type

6 Global Market Analysis by Application

7 Global Manufacturers Profiles/Analysis

8 Manufacturing Cost Analysis

9 Industrial Chain, Sourcing Strategy and Downstream Buyers

10 Marketing Strategy Analysis, Distributors/Traders

11 Market Effect Factors Analysis

12 Global Market Forecast (2018-2025)

13 Research Findings and Conclusion

 

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