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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; 2023-2028

Global Chromium Oxide Market Outlook

The global chromium oxide market size stood at a value of around USD 532.95 million in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 4.40% to reach USD 660.98 million by 2027.

 

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.

 

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:

  • Rubber
  • 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.

 

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 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Pigment Grade
  • Metallurgical Grade
  • Refractory Grade
  • Chemical Grade
Breakup by Application
  • Rubber
  • Paints and Coatings
  • Metallurgy
  • Ceramic
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Elementis Plc
  • LANXESS AG
  • Vishnu Chemicals Ltd.
  • Nippon Chemical Industrial CO., LTD
  • Venator Materials PLC
  • Others

 

*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 (2018-2022) 
    8.3    Global Chromium Oxide Market Forecast (2023-2028)
    8.4    Global Chromium Oxide Market by Type
        8.4.1    Pigment Grade
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Metallurgical Grade
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Refractory Grade
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Chemical Grade
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
    8.5    Global Chromium Oxide Market by Application
        8.5.1    Rubber
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Paints and Coatings
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Metallurgy
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Ceramic
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Others
    8.6    Global Chromium Oxide Market by Region       
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022) 
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022) 
            8.6.5.3    Forecast Trend (2023-2028)
9    North America Chromium Oxide Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Chromium Oxide Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Chromium Oxide Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Chromium Oxide Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Chromium Oxide Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    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 (2018-2022) and Forecast (2023-2028)
    17.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    17.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
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 2028
2.    Global Chromium Oxide Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Chromium Oxide Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Chromium Oxide Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Chromium Oxide Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Chromium Oxide Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Chromium Oxide Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Chromium Oxide Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Chromium Oxide Market Forecast: Breakup by Country (USD Million), 2023-2028
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 2021, the global market for chromium oxides attained a value of nearly USD 532.95 million.

The market is estimated to grow at a CAGR of 4.40% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 660.98 million by 2027.

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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