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Report
Chromium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-05-29 I 143 Pages I IMARC Group
Market Overview:
The global chromium market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028. The growing utilization as micronutrients and nutritional supplements, increasing demand for refractory additives, and rising application in manufacturing car exhaust systems represent some of the key factors driving the market.
Chromium (Cr) refers to a lustrous, brittle, and hard metal that is silver-gray in color and does not tarnish in the air. It is abundantly available in the crust of the earth like rocks, plants, animals, soil, and volcanic gases and dust. It is commercially extracted from chromite, which is an oxide of iron, aluminum, magnesium, and chromium. It is an essential dietary nutrient that is required to potentiate insulin and for normal glucose metabolism, and its deficiency in the body causes various serious health-related disorders. It aids in hardening and manufacturing stainless steel, which enhances the effectiveness of the product. Besides this, it assists in increasing the strength and corrosion resistance of an alloy and considered suitable for electroplating. It is widely utilized in producing refractory additives, alloyed and stainless steel, non-ferrous alloy, and synthetic rubies. Apart from this, Cr is employed in the chemical, petrochemical, energy and power, mining, steel, and automotive industries across the globe.
Chromium Market Trends:
At present, the rising demand for Cr in metallurgical processes to improve hardenability and avoid corrosion resistance and oxidation to other metals represents one of the key factors supporting the growth of the market. Besides this, the growing utilization of Cr in manufacturing car exhaust systems and auto parts, such as seatbelt springs, chassis, fuel tanks, suspensions, and hose clamps, is offering a positive market outlook. Additionally, there is a rise in the utilization of chromium polynicotinate, chromium chloride, and chromium picolinate (CrP) as micronutrients and nutritional supplements for humans and animals worldwide. This, coupled with the increasing demand for CrP to control blood sugar in diabetes and decrease cholesterol and blood pressure levels, is propelling the growth of the market. Apart from this, the rising demand for Cr due to the increasing utilization of stainless steel across the globe is offering lucrative growth opportunities to industry investors. In addition to this, the wide availability of Cr at an affordable price is contributing to the growth of the market. Moreover, the increasing demand for Cr in decorative plating from the metal plating and finishing industry is positively influencing the market. Furthermore, the rising demand for Cr in leather tanning, wood treatment, and paint pigments around the world is strengthening the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global chromium market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on grade, application and industry vertical.
Grade Insights:
Metallurgy
Refractory and Foundry
Chemical
The report has provided a detailed breakup and analysis of the chromium market based on the grade. This includes metallurgy, refractory and foundry, and chemical. According to the report, metallurgy represented the largest segment.
Application Insights:
Alloyed Steel Production
Stainless Steel Production
Refractory Additives
Non-Ferrous Alloy Production
Others
A detailed breakup and analysis of the chromium market based on the application has also been provided in the report. This includes alloyed steel production, stainless steel production, refractory additives, non-ferrous alloy production, and others. According to the report, stainless steel production accounted for the largest market share.
Industry Vertical Insights:
Chemical and Petrochemical
Energy and Power
Mining
Steel
Automotive
Others
A detailed breakup and analysis of the chromium market based on the industry vertical has also been provided in the report. This includes chemical and petrochemical, energy and power, mining, steel, automotive, and others.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for chromium. Some of the factors driving the Asia Pacific chromium market included the presence of highly developed manufacturing industries, large production of stainless steel using chromium, technological advancements, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global chromium market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include ACI Alloys, Al Tamman Indsil FerroChrome L.L.C, Belmont Metals Inc., Edgetech Industries LLC, Eurasian Resources Group, Ferbasa, Glencore plc, Gulf Mining Materials Company, Odisha Mining Corporation Limited, ProChem Inc. International, RD Mathis Company, Samancor Chrome Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global chromium market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global chromium market?
What is the impact of each driver, restraint, and opportunity on the global chromium market?
What are the key regional markets?
Which countries represent the most attractive chromium market?
What is the breakup of the market based on the grade?
Which is the most attractive grade in the chromium market?
What is the breakup of the market based on the application?
Which is the most attractive application in the chromium market?
What is the breakup of the market based on the industry vertical?
Which is the most attractive industry vertical in the chromium market?
What is the competitive structure of the global chromium market?
Who are the key players/companies in the global chromium market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Chromium Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Grade
6.1 Metallurgy
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Refractory and Foundry
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Chemical
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Alloyed Steel Production
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Stainless Steel Production
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Refractory Additives
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Non-Ferrous Alloy Production
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Industry Vertical
8.1 Chemical and Petrochemical
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Energy and Power
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Mining
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Steel
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Automotive
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 ACI Alloys
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Al Tamman Indsil FerroChrome L.L.C
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Belmont Metals Inc.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Edgetech Industries LLC
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Eurasian Resources Group
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Ferbasa
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.7 Glencore plc
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.8 Gulf Mining Materials Company
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Odisha Mining Corporation Limited
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 ProChem Inc. International
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 RD Mathis Company
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Samancor Chrome Ltd
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
Figure 1: Global: Chromium Market: Major Drivers and Challenges
Figure 2: Global: Chromium Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Chromium Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Chromium Market: Breakup by Grade (in %), 2022
Figure 5: Global: Chromium Market: Breakup by Application (in %), 2022
Figure 6: Global: Chromium Market: Breakup by Industry Vertical (in %), 2022
Figure 7: Global: Chromium Market: Breakup by Region (in %), 2022
Figure 8: Global: Chromium (Metallurgy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Chromium (Metallurgy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Chromium (Refractory and Foundry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Chromium (Refractory and Foundry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Chromium (Chemical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Chromium (Chemical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Chromium (Alloyed Steel Production) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Chromium (Alloyed Steel Production) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Chromium (Stainless Steel Production) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Chromium (Stainless Steel Production) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Chromium (Refractory Additives) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Chromium (Refractory Additives) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Chromium (Non-Ferrous Alloy Production) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Chromium (Non-Ferrous Alloy Production) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Chromium (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Chromium (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Chromium (Chemical and Petrochemical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Chromium (Chemical and Petrochemical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Chromium (Energy and Power) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Chromium (Energy and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Chromium (Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Chromium (Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Chromium (Steel) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Chromium (Steel) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Chromium (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Chromium (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Chromium (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Chromium (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: North America: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: North America: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: United States: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: United States: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Canada: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Canada: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Asia-Pacific: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Asia-Pacific: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: China: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: China: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Japan: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Japan: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: India: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: India: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: South Korea: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: South Korea: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Australia: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Australia: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Indonesia: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Indonesia: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Others: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Others: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Europe: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Europe: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Germany: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Germany: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: France: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: France: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: United Kingdom: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: United Kingdom: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Italy: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Italy: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Spain: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Spain: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Russia: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Russia: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Others: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Others: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Latin America: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Latin America: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Brazil: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Brazil: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Mexico: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Mexico: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Others: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Others: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Middle East and Africa: Chromium Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Middle East and Africa: Chromium Market: Breakup by Country (in %), 2022
Figure 84: Middle East and Africa: Chromium Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Global: Chromium Industry: SWOT Analysis
Figure 86: Global: Chromium Industry: Value Chain Analysis
Figure 87: Global: Chromium Industry: Porter's Five Forces Analysis
Table 1: Global: Chromium Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Chromium Market Forecast: Breakup by Grade (in Million US$), 2023-2028
Table 3: Global: Chromium Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Chromium Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
Table 5: Global: Chromium Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Chromium Market: Competitive Structure
Table 7: Global: Chromium Market: Key Players
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