PUBLISHER: IMARC | PRODUCT CODE: 1422928
PUBLISHER: IMARC | PRODUCT CODE: 1422928
Chromium Mining Market by Type (Metallurgical Chromite, Chemical and Foundry Sand Chromite, Refractory Chromite), End User (Stainless Steel, Alloy Steel), and Region 2024-2032
Abstract
The global chromium mining market size reached 44.0 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 61.9 Million Tons by 2032, exhibiting a growth rate (CAGR) of 3.75% during 2024-2032. The expansion in the metallurgy industry, extensive research and development (R&D) activities and increasing government investment represent some of the key factors driving the market.
Chromium is a lustrous, hard, bluish-gray metal found naturally in rocks, animals, plants, soil, volcanic dust, and gasses. It is chiefly obtained from the mineral chromite that is carried out by surface techniques and underground mining processes. Surface techniques are usually used first to mine chromite ore. The method includes an open pit, from which the non-chromite-bearing surface materials and chromite ores are generally extracted. On the other hand, blasthole stoping techniques are commonly utilized for carrying out underground mining. Chromium is widely used to harden steel, make alloys, manufacture stainless steel, dyes, and pigments, treat cool tower water, and preserve leather and wood. It also exhibits durability, strength, toughness, corrosion, and chemical resistance to iron-steel products.
Chromium Mining Market Trends:
The increasing demand for chromium in the metallurgy industry across the globe is one of the key factors driving the market growth. The chromium mining process is widely used due to the rising demand for chromium for the production of metals, such as steel and aluminum. In line with this, the widespread process utilization for producing stainless steel, which is widely utilized in the manufacturing of cutlery, surgical tools, car exhaust systems, seatbelts, and kitchen sinks, is favoring the market growth. Additionally, the utilization of chromium for producing piston rings, shock absorbers, engine valves, and brake pistons in the automotive industry is acting as another major growth-inducing factor. Apart from this, the introduction of chromite smelting technology that requires low capital investment and offers flexibility is providing an impetus to the market growth. Moreover, the increasing chromium mining activities to obtain pigments of chromium that are widely used in paints as inhibitors for recirculating water systems, brines, and dips for brass, tin, steel, and iron, is positively influencing the market growth. Furthermore, the widespread adoption of chromium in the medical industry owing to the rising geriatric population prone to chronic diseases and serious health conditions is driving the market growth. Chromium is widely used for manufacturing medicines essential in regulating blood sugar levels, which is propelling the market growth. Other factors, including rising production of metals, extensive research and development (R&D) activities and increasing government investment in the metal and mining industry, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global chromium mining market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on the type and end user.
Type Insights:
Metallurgical Chromite
Chemical and Foundry Sand Chromite
Refractory Chromite
The report has provided a detailed breakup and analysis of the chromium mining market based on the type. This includes metallurgical, chemical, and foundry sand and refractory chromite. According to the report, metallurgical chromite represented the largest segment.
End User Insights:
Stainless Steel
Alloy Steel
The report has provided a detailed breakup and analysis of the chromium mining market based on the end user. This includes stainless and alloy steel. According to the report, stainless steel represented the largest segment.
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 that include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for chromium mining. Some of the factors driving the Asia Pacific chromium mining market included widespread process utilization for producing stainless steel, significant technological advancements, and extensive research and development (R&D) activities.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global chromium mining market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Afarak Group SE, Assore Limited, Glencore plc, KWG Resources Inc, Outokompu Oyj, Samancore Chrome, Yilmaden, etc.
Key Questions Answered in This Report:
- How has the global chromium mining market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global chromium mining market?
- What are the key regional markets?
- Which countries represent the most attractive chromium mining markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global chromium mining market?
- Who are the key players/companies in the global chromium mining market?
Table of Contents
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 Mining Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Metallurgical Chromite
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Chemical and Foundry Sand Chromite
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Refractory Chromite
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by End User
- 7.1 Stainless Steel
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Alloy Steel
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Afarak Group SE
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 Assore Limited
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.3 Glencore plc
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 KWG Resources Inc
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.5 Outokompu Oyj
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.5.4 SWOT Analysis
- 13.3.6 Samancore Chrome
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.7 Yilmaden
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.1 Afarak Group SE
List of Figures
- Figure 1: Global: Chromium Mining Market: Major Drivers and Challenges
- Figure 2: Global: Chromium Mining Market: Volume Trends (in Million Tons), 2018-2023
- Figure 3: Global: Chromium Mining Market Forecast: Volume Trends (in Million Tons), 2024-2032
- Figure 4: Global: Chromium Mining Market: Sales Value (in Million US$), 2018-2023
- Figure 5: Global: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 6: Global: Chromium Mining Market: Breakup by Type (in %), 2023
- Figure 7: Global: Chromium Mining Market: Breakup by End User (in %), 2023
- Figure 8: Global: Chromium Mining Market: Breakup by Region (in %), 2023
- Figure 9: Global: Chromium Mining (Metallurgical Chromite) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Chromium Mining (Metallurgical Chromite) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Chromium Mining (Chemical and Foundry Sand Chromite) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Chromium Mining (Chemical and Foundry Sand Chromite) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Chromium Mining (Refractory Chromite) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Chromium Mining (Refractory Chromite) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Chromium Mining (Stainless Steel) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Chromium Mining (Stainless Steel) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Chromium Mining (Alloy Steel) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Chromium Mining (Alloy Steel) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: North America: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: North America: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: United States: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: United States: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Canada: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Canada: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Asia-Pacific: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Asia-Pacific: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: China: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: China: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Japan: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Japan: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: India: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: India: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: South Korea: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: South Korea: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Australia: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Australia: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: Indonesia: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: Indonesia: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Others: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Others: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Europe: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Europe: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: Germany: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: Germany: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: France: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: France: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: United Kingdom: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: United Kingdom: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Italy: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Italy: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Spain: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Spain: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Russia: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Russia: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Others: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Others: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Latin America: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Latin America: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Brazil: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Brazil: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Mexico: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Mexico: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Others: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Others: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Middle East and Africa: Chromium Mining Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Middle East and Africa: Chromium Mining Market: Breakup by Country (in %), 2023
- Figure 67: Middle East and Africa: Chromium Mining Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Global: Chromium Mining Industry: Drivers, Restraints, and Opportunities
- Figure 69: Global: Chromium Mining Industry: Value Chain Analysis
- Figure 70: Global: Chromium Mining Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Chromium Mining Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Chromium Mining Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Chromium Mining Market Forecast: Breakup by End User (in Million US$), 2024-2032
- Table 4: Global: Chromium Mining Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Chromium Mining Market: Competitive Structure
- Table 6: Global: Chromium Mining Market: Key Players
