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Global Chromium Oxide Market Research Report Forecast to 2030
SKU ID : MRF-14810589 | Publishing Date : 01-Sep-2019 | No. of pages : 159
Global Chromium Oxide Market: Information by Grade (Pigment Grade, Metallurgical Grade and Refractory Grade), Application (Metallurgy, Paints & Coatings, Glasses, Ceramics, Inks & Dyes and Bricks & Concrete) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2030
The paints & coatings manufacturing is one of the largest purchasers of chromium oxide, in which the chromium oxide pigments are used in a comprehensive range of applications involving manufacturing coatings, automotive coatings, exterior coatings, and merchandise finishes. Additionally, orthopedic implant is the other application where the demand for chromium oxide as a defensive coating is expanding meaningfully due to the anti-reflectivity, high chemical endurance, superb abrasion fighting, and enhanced wear resistance offered by the chromium oxide coatings. The Global Chromium Oxide Market is projected to record around a CAGR of 5.13% to reach around USD 353,564.5 Thousand by the end of year2030. Chromium oxide (Cr2O3) is an inert compound and one of the key oxides of chromium. It arises spontaneously as a unique mineral, eskolaite. It uncovers product in varnishes owed to its exceptional opposition to wear, scrape, rust, and chemicals. In supplement, the chromium oxide colorants find a wide-ranging application on account of exceptional dispersibility and heat solidity, weather fastness, disappearing power, and batch-to-batch consistency offered by the colors.
The Global Chromium Oxide Market has been segmented and split up by application and grade. By application, the global chromium oxide market has been segmented into paints & coatings, glasses, ceramics, inks & dyes, bricks & concrete, metallurgy, etc. The metallurgy sector recorded for the leading market segment in 2017 and is forecast to be estimated at over USD 104 million by the end of 2030. Based on grade, the global chromium oxide market has been classified into three divisions: pigment grade, metallurgical grade and refractory grade. Among these, the pigment grade chromium oxide was the leading grade segment, with most of the demand in the paints & coating industry. The division was rated at around USD 185 million in 2017 and is forecast to list a CAGR of around 5% throughout the review period.
Geographically the Global Chromium Oxide Market is split in regions like North America, Europe, Asia-Pacific, and Rest of the world. Europe is projected to record significant increase during the said period due to the rising requirement in main end-use activities, such as construction and paints and varnishes. Moreover, technical developments in the plastics and ceramics activities in the region are anticipated to considerably run the provincial market progress. The key players operational in the global market have huge and improved production capabilities at the national and worldwide heights. This helps them to provide the goods to different end users around the world within less time as linked to the small-scale companies, delivering a good point in the global market. Some of the corporate approaches supported by the players working in the world-wide chromium oxide market are new merchandise launches, achievements and agreements. The Middle East & African market is forecast to record a CAGR of 4.32% throughout the evaluation period, which is principally owing to the swiftly expanding assembly manufacturing in the region. Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America are the key regional markets hidden beneath the extent of the report. The market in Asia-Pacific held the leading share of over 45% in 2017, due to the escalating building and construction industry in the region. China, India, and South-East Asia countries such as Indonesia, Malaysia, and Thailand are the major sponsors to the growth of the regional market. Likewise, the vigorous development of the metallurgical and paints coatings industry in these emerging markets is projected to increase the demand for the product in the region. Additionally, rapid urbanization and industrialization in the region are also expected to support the progress of the local market during the said period.
The proposed spectators in the Global Chromium Oxide Market are Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Chromium Oxide Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Chromium Oxide Market are companies like American Elements (US), Reade International Corp (US), Saint-Gobain (France), Elementis plc (UK), LANXESS (Germany), Venator Materials PLC (UK), Vishnu Chemicals (India), Hubei Zhenhua Chemical Co., Ltd (China), Chrome Star Chemical Works (India), and Hunter Chemical LLC (US), among others.
Market analysis
The paints & coatings manufacturing is one of the largest purchasers of chromium oxide, in which the chromium oxide pigments are used in a comprehensive range of applications involving manufacturing coatings, automotive coatings, exterior coatings, and merchandise finishes. Additionally, orthopedic implant is the other application where the demand for chromium oxide as a defensive coating is expanding meaningfully due to the anti-reflectivity, high chemical endurance, superb abrasion fighting, and enhanced wear resistance offered by the chromium oxide coatings. The Global Chromium Oxide Market is projected to record around a CAGR of 5.13% to reach around USD 353,564.5 Thousand by the end of year2030. Chromium oxide (Cr2O3) is an inert compound and one of the key oxides of chromium. It arises spontaneously as a unique mineral, eskolaite. It uncovers product in varnishes owed to its exceptional opposition to wear, scrape, rust, and chemicals. In supplement, the chromium oxide colorants find a wide-ranging application on account of exceptional dispersibility and heat solidity, weather fastness, disappearing power, and batch-to-batch consistency offered by the colors.
Market segmentation
The Global Chromium Oxide Market has been segmented and split up by application and grade. By application, the global chromium oxide market has been segmented into paints & coatings, glasses, ceramics, inks & dyes, bricks & concrete, metallurgy, etc. The metallurgy sector recorded for the leading market segment in 2017 and is forecast to be estimated at over USD 104 million by the end of 2030. Based on grade, the global chromium oxide market has been classified into three divisions: pigment grade, metallurgical grade and refractory grade. Among these, the pigment grade chromium oxide was the leading grade segment, with most of the demand in the paints & coating industry. The division was rated at around USD 185 million in 2017 and is forecast to list a CAGR of around 5% throughout the review period.
Regional analysis
Geographically the Global Chromium Oxide Market is split in regions like North America, Europe, Asia-Pacific, and Rest of the world. Europe is projected to record significant increase during the said period due to the rising requirement in main end-use activities, such as construction and paints and varnishes. Moreover, technical developments in the plastics and ceramics activities in the region are anticipated to considerably run the provincial market progress. The key players operational in the global market have huge and improved production capabilities at the national and worldwide heights. This helps them to provide the goods to different end users around the world within less time as linked to the small-scale companies, delivering a good point in the global market. Some of the corporate approaches supported by the players working in the world-wide chromium oxide market are new merchandise launches, achievements and agreements. The Middle East & African market is forecast to record a CAGR of 4.32% throughout the evaluation period, which is principally owing to the swiftly expanding assembly manufacturing in the region. Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America are the key regional markets hidden beneath the extent of the report. The market in Asia-Pacific held the leading share of over 45% in 2017, due to the escalating building and construction industry in the region. China, India, and South-East Asia countries such as Indonesia, Malaysia, and Thailand are the major sponsors to the growth of the regional market. Likewise, the vigorous development of the metallurgical and paints coatings industry in these emerging markets is projected to increase the demand for the product in the region. Additionally, rapid urbanization and industrialization in the region are also expected to support the progress of the local market during the said period.
Major players
The proposed spectators in the Global Chromium Oxide Market are Retailers, distributors, wholesalers, Investors and trade experts, Governments, associations, industrial bodies, etc. The major companies functioning in the Global Chromium Oxide Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Chromium Oxide Market are companies like American Elements (US), Reade International Corp (US), Saint-Gobain (France), Elementis plc (UK), LANXESS (Germany), Venator Materials PLC (UK), Vishnu Chemicals (India), Hubei Zhenhua Chemical Co., Ltd (China), Chrome Star Chemical Works (India), and Hunter Chemical LLC (US), among others.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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