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Global Chromium Oxide Market Size, Share, Price, Research: By Type: Pigment Grade, Metallurgical Grade, Refractory Grade, Chemical Grade; By Application: Rubber, Paints and Coatings, Metallurgy, Ceramic, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape: Industry Events and Developments; 2024-2032
Global Chromium Oxide Market Outlook
The global chromium oxide market size stood at a value of around USD 580.88 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.4% to reach USD 855.84 million by 2032.
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Demand for Metallurgical Grade Chromium Oxide in Stainless and Special Steel Production Driving Market Growth
Metallurgical grade chromium oxide is used in the manufacture of stainless steel and special steel. In this regard, the growing demand for steel in industries such as construction and automotive is driving the segment’s growth. Meanwhile, it is also used in the production of high purity chromium metals which are applied in the aerospace industry.
Growing research and development activities in the aerospace sector and increasing spending of government on aerospace and defence-related projects are likely to accelerate the demand for metallurgical grade chromium oxide in the coming years. In the forecast period, there is an anticipated increase in demand for metallurgical grade chromium oxide in the form of an amorphous olive green mineral powder. This format is used as a colourant in enamels, sun-proof coatings, and printing of currency, and is likely to bolster the market growth.
The Asia Pacific Region Accounts for a Sizable Segment of the Market for Chromium Oxide
The chromium oxide market in the Asia Pacific region is being driven by the strong foothold of major manufacturers dealing with the supply of chromium oxide. The presence of large populations in expanding economies such as India and China, is generating a high consumption of automotive components which are propelling the demand for the compound.
Over the forecast period, the thriving construction industry, owing to the high economic growth in the region and favourable policies of the government is anticipated to propel the demand for chromium oxide. Furthermore, the market in the region is anticipated to be aided by the growing expansion of steel manufacturers.
Market Segmentation
Chromium oxide, also known as dichromium trioxide, is defined as an inorganic compound made of chromium which naturally occurs in a mineral eskolaite. The appearance of this compound can be a light or dark green crystal that is insoluble in water. Chromium oxide is also used as a catalyst in the industrial sector.
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Based on type, the market for chromium oxide can be segmented into:
- Pigment Grade
- Chemical Grade
- Refractory Grade
- Metallurgical Grade
By application, the chromium oxide market has been divided into:
- Paints and Coatings
- Metallurgy
- Ceramic
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand for Chromium Oxide for Various Applications to Boost Growth of the Chromium Oxide Industry
Chromium oxide is a versatile compound which is used in numerous industries among which, the rubber and paints and coatings segments are generating a heightened demand for the chromium oxide market. This can be attributed to the increasing infrastructure development activities and urbanisation projects. Over the forecast period, the anticipated rise in demand for rubber for various applications such as medical devices, surgical gloves, clothes, and toys, among others, is likely to bolster the market growth. Chromium oxide is crucial component in the production of ceramics for which households are expected to propel the demand, for the production of components such as teacups, mugs, and sinks, among others.
The increasing production of cement owing to the rapid residential construction projects is likely to propel the demand for ceramics which will in turn aid the chromium oxide industry. The rising application of chromium oxide ceramic coatings in the industrial sector for providing seal surface, improved abrasion, and offering greater wear resistance to industrial appliances is anticipated to increase product penetration. Furthermore, the increasing utilisation of chromium oxide in the development of electric semiconductors and as a catalyst for the preparation of butadiene is likely to aid the market.
Key Players in the Global Chromium Oxide Market
The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Elementis Plc
- LANXESS AG
- Vishnu Chemicals Ltd.
- Nippon Chemical Industrial CO., LTD
- Venator Materials PLC
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| 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:
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| Breakup by Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*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 Application
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 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Chromium Oxide Market Analysis
8.1 Key Industry Highlights
8.2 Global Chromium Oxide Historical Market (2018-2023)
8.3 Global Chromium Oxide Market Forecast (2024-2032)
8.4 Global Chromium Oxide Market by Type
8.4.1 Pigment Grade
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Metallurgical Grade
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Refractory Grade
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Chemical Grade
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Chromium Oxide Market by Application
8.5.1 Rubber
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Paints and Coatings
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Metallurgy
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Ceramic
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Chromium Oxide Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Chromium Oxide 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 Oxide 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 Oxide 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 Oxide 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 Oxide 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 (HS Code - 281990)
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 Elementis 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 LANXESS AG
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 Vishnu Chemicals 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 Nippon Chemical Industrial CO., LTD
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 Venator Materials PLC
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Chromium Oxide Market: Key Industry Highlights, 2018 and 2032
2. Global Chromium Oxide Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Chromium Oxide Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Chromium Oxide Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Chromium Oxide Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Chromium Oxide Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Chromium Oxide Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2024-2032
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Major Exporting Countries by Value
24. Major Importing Countries by Value
25. Major Exporting Countries by Volume
26. Major Importing Countries by Volume
27. Global Chromium Oxide Market Structure
Key Questions Answered in the Report
In 2023, the global market for chromium oxides attained a value of nearly USD 580.88 million.
The market is estimated to grow at a CAGR of 4.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 855.84 million by 2032.
The major regions in the industry identified in the EMR report are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the increasing application of the compound in various industries owing to the versatility of the product, thriving automotive and construction industries in emerging economies, and rapid urbanisation.
The increasing demand for rubber to produce commercial and industrial equipment are likely to be the key trends in the market.
Refractory grade, chemical grade metallurgical grade, and pigment grade, are the are the different types based on which the market has been divided.
Rubber, paints and coatings, metallurgy, and ceramic, among others, are the significant applications of the product.
The major players in the industry are Elementis Plc, LANXESS AG, Vishnu Chemicals Ltd., Nippon Chemical Industrial CO., LTD, and Venator Materials PLC, among others.
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