Reports
Global Chromium Market Analysis, Share, Trends, Forecast: By Application: Metallurgy, Chemicals, Refractory, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Chromium Market Outlook
The global chromium market attained a value of approximately USD 15.30 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 3%.
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Asia Pacific Holds a Significant Share of the Chromium Industry
Chromium is a significant metal used in various industries due to its excellent strength and corrosion resistance. It is primarily used in the production of stainless steel and nonferrous alloys, which is contributing significantly to the market growth. Moreover, it is also used to create pigments and chemicals used to process leather. Chromium is used in the production of super alloys, which permit jet engines to operate in high-temperature, high-stress, and chemically oxidising environment. In addition, it is further used in aircraft to protect seal components against galling, corrosion, and wear, which is catalysing the growth of the industry. Furthermore, chromium is alloyed with other metals to make military aircraft engines like stainless steel tankers, consequently aiding the overall expansion of the market.
The Asia Pacific region is the dominating market for chromium owing to the increasing consumption of chromium in various industries, including automotive, oil and gas, and construction, among others. Moreover, the increasing production of stainless steels in countries such as China and India utilises chromite extensively, consequently propelling the market growth. In addition, the robust growth of the automotive, construction, and consumer goods industries is increasing the demand for chromium, hence augmenting the market growth. The market in Europe and North America is being aided by the steady growth of the construction and infrastructure industry, which is boosting the demand for chromium, therefore providing further impetus to the market growth.
Chromium: Market Segmentation
Chromium is a steel grey, lustrous, hard, and brittle transition metal that is used in alloys to increase strength and corrosion resistance. It has a high melting point and stable structure, due to which it is used in textile and refractory industries. It is mainly found in chromite ore, which is mined in Russia, Zimbabwe, New Zealand, Iran, Albania, and Turkey, among others.
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The major applications of chromium are:
- Metallurgy
- Chemicals
- Refractory
- Others
The EMR report looks into the regional markets of chromium like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Production of Stainless Steel to Bolster the Growth of the Chromium Industry
The rising use of stainless steel in chemical and petrochemical products, consumer goods, and heavy transport, among others, is catalysing the market growth for chromium. As chromium provides corrosive resistant properties to stainless steel, it is increasingly used in its production. Moreover, the use of ferrochrome, an alloy of chromium and iron, as a base material in the manufacturing of steels is further augmenting the industry growth. Stainless steel is durable, low-maintenance, and sustainable, which is leading to its extensive use in the auto, railway, and transportation industry, hence propelling the market growth for chromium.
Chromium salts, processed from chromite, are one of the crucial raw materials in the chemical industry and are widely used in electroplating, printing and dyeing, tanning, catalyst, fuels, medicines, and oxidants, among others. Moreover, the introduction of favourable government initiatives and funding to boost the automotive sector, particularly in India and China, is expected to impact the market growth positively. In addition, rapid urbanisation and rising inflation income are increasing the demand for private ownership of vehicles, which is providing further impetus to the market growth. Various technological advancements to improve efficiency and increase production capacity in the manufacturing process are also anticipated to fuel the market growth in the forecast period.
Key Industry Players in the Global Chromium Market
The report presents a detailed analysis of the following key players in the global chromium market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Glencore PLC
- Al Tamman Indsil FerroChrome
- Odisha Mining Corporation Ltd
- Samancor Chrome
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Regions |
| Breakup by Application | Metallurgy, Chemicals, Refractory, Others |
| Breakup by Regions | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends-Regional |
| Competitive Landscape | Market Structure, Company Profiles-Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Glencore PLC, Al Tamman Indsil FerroChrome, Odisha Mining Corporation Ltd, Samancor Chrome, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Chromium Market Analysis
8.1 Key Industry Highlights
8.2 Global Chromium Historical Market (2018-2023)
8.3 Global Chromium Market Forecast (2024-2032)
8.4 Global Chromium Market by Application
8.4.1 Metallurgy
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Chemicals
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Refractory
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Chromium Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Chromium Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Chromium Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Chromium Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Chromium Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Chromium Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Glencore PLC
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Al Tamman Indsil FerroChrome
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Odisha Mining Corporation Ltd
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Samancor Chrome
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Chromium Market: Key Industry Highlights, 2018 and 2032
2. Global Chromium Historical Market: Breakup by Application (USD Billion), 2018-2023
3. Global Chromium Market Forecast: Breakup by Application (USD Billion), 2024-2032
4. Global Chromium Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Chromium Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Chromium Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Chromium Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Chromium Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Chromium Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Chromium Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Chromium Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Chromium Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Chromium Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Chromium Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Chromium Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. North America Historical Price Trends and Forecast 2018-2028
21. Europe Historical Price Trends and Forecast 2018-2028
22. Asia Pacific Historical Price Trends and Forecast 2018-2028
23. Latin America Historical Price Trends and Forecast 2018-2028
24. Middle East and Africa Historical Price Trends and Forecast 2018-2028
25. Global Chromium Market Structure
Key Questions Answered in the Report
In 2023, the global chromium market attained a value of nearly USD 15.30 billion.
The market is projected to grow at a CAGR of 3% between 2024 and 2032.
The major drivers of the market are the robust growth of the automotive sector, increasing production of stainless steel, and the rising demand for chromium in the construction sector.
The key trends propelling the market development are the introduction of favourable government initiatives aimed at supporting the automotive sector, the growing use of chromium salts in the chemical sector, and technological advancements improving the efficiency of chromium.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of chromium are metallurgy, chemicals, and refractory, among others.
The major players in the market are Glencore PLC, Al Tamman Indsil FerroChrome, Odisha Mining Corporation Ltd, and Samancor Chrome, among others.
Analyst Review
The global chromium market attained a value of about USD 15.30 billion in 2023, driven by the rising use of chromium in various industries. Aided by the growing production of stainless steels, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its applications, the chromium industry can be segmented into metallurgy, chemical, and refractory, among others. The major regional markets for chromium are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Glencore PLC, Al Tamman Indsil FerroChrome, Odisha Mining Corporation Ltd, and Samancor Chrome, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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