PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421776
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421776
Chromium Market Share, Size, Trends, Industry Analysis Report, By Material (Ferrochromium, Chromium Chemicals, Chromium Metals, Others), By Application, By Region, And Segment Forecasts, 2023 - 2032
The global chromium market size is expected to reach USD 36.77 billion by 2032, according to a new study by Polaris Market Research. The report "Chromium Market Share, Size, Trends, Industry Analysis Report, By Material (Ferrochromium, Chromium Chemicals, Chromium Metals, Others), By Application, By Region, And Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Chromium demand is primarily fueled by the strong growth of various end-use industries in emerging economies. Stainless steel, a versatile material, is in high demand across sectors such as automotive, aerospace, & electronics. Chromium, as a vital component of stainless steel, plays a crucial role in meeting this demand. Chromium has diverse applications in different sectors. In industries like chrome plating and finishing, it provides a shiny and protective layer to various objects, enhancing their appearance and durability. Chromium is also used in the production of synthetic rubies, creating gemstones of exceptional quality. Furthermore, it is an essential ingredient in metal ceramics, dyes, and paints, contributing to their vibrant colors and longevity.
Additionally, chromium finds its place in superalloys, enhancing their mechanical properties and making them suitable for high-temperature and high-stress environments, such as in aerospace and power generation applications. In metallurgy, chromium is utilized to impart a shiny finish to metals and, more importantly, to provide corrosion resistance, ensuring the longevity of metal components even in challenging conditions.
Given the essential nature of chromium in metal finishing and plating, buyers have limited alternatives. This limited substitution potential, coupled with the unique properties of chromium, results in a low bargaining power for buyers. As the demand for chromium continues to rise in the metal finishing and plating industry, driven by its exceptional qualities, the market for chromium experiences growth, making it a valuable commodity in various sectors.
One factor contributing to this growth is the support from the governments of China and India. Their policies and incentives have encouraged the automotive industry, fostering innovation, production, and market expansion. Additionally, the rising income levels of the citizens in these countries have led to increased purchasing power, enabling more people to afford cars.
Furthermore, a noteworthy trend has been the growing demand from lower-tier cities in China and India. This surge in demand can be attributed to the declining prices of automobiles. As manufacturing processes become more efficient and competition among automakers increases, the prices of vehicles have decreased. Consequently, cars have become more affordable to a broader population, not just in major urban centers but also in smaller cities and towns. This affordability factor has sparked a higher demand for automobiles, leading to increased production and sales in both countries.
Chromium Market Report Highlights
The metallurgy segment held the largest share, as they are frequently used in the form of ferroalloys, scrapes, and other strategic applications
Chemicals segment will grow at a rapid pace, owing to its easy availability and applicability in varied verticals
Asia Pacific dominated the market, owing to favorable government policies and a strong push towards stainless steel production in emerging nations
The key market players include Glencore, Samancor Chrome, Odisha Mining Corp., Hernic Ferrochrome, CVK Group, Gulf Mining, and MVC Holdings
Polaris Market Research has segmented the Chromium market report based on material, application, and region:
Chromium, Material Outlook (Revenue - USD Billion, 2019 - 2032)
- Ferrochromium
- Chromium Chemicals
- Chromium Metals
- Others
Chromium, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Metallurgy
- Chemicals
- Refractory
- Others
Chromium, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Chromium Market Insights
- 4.1. Chromium Market - Industry Snapshot
- 4.2. Chromium Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing use in electrical and electronic applications
- 4.2.1.2. Rising demand for corrosion-resistant alloys
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Fluctuating raw material prices impacting chromium production costs
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Chromium Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Chromium Market, by Material
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Chromium, by Material, 2019-2032 (USD Billion)
- 5.3. Ferrochromium
- 5.3.1. Global Chromium Market, by Ferrochromium, by Region, 2019-2032 (USD Billion)
- 5.4. Chromium Chemicals
- 5.4.1. Global Chromium Market, by Chromium Chemicals, by Region, 2019-2032 (USD Billion)
- 5.5. Chromium Metals
- 5.5.1. Global Chromium Market, by Chromium Metals, by Region, 2019-2032 (USD Billion)
- 5.6. Others
- 5.6.1. Global Chromium Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Chromium Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Chromium Market, by Application, 2019-2032 (USD Billion)
- 6.3. Metallurgy
- 6.3.1. Global Chromium Market, by Metallurgy, by Region, 2019-2032 (USD Billion)
- 6.4. Chemicals
- 6.4.1. Global Chromium Market, by Chemicals, by Region, 2019-2032 (USD Billion)
- 6.5. Refractory
- 6.5.1. Global Chromium Market, by Refractory, by Region, 2019-2032 (USD Billion)
- 6.6. Others
- 6.6.1. Global Chromium Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Chromium Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Chromium Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Chromium Market - North America
- 7.3.1. North America: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.3.2. North America: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.3.3. Chromium Market - U.S.
- 7.3.3.1. U.S.: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.3.4. Chromium Market - Canada
- 7.3.4.1. Canada: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4. Chromium Market - Europe
- 7.4.1. Europe: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.2. Europe: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.3. Chromium Market - UK
- 7.4.3.1. UK: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.4. Chromium Market - France
- 7.4.4.1. France: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.4.2. France: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.5. Chromium Market - Germany
- 7.4.5.1. Germany: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.6. Chromium Market - Italy
- 7.4.6.1. Italy: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.7. Chromium Market - Spain
- 7.4.7.1. Spain: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.8. Chromium Market - Netherlands
- 7.4.8.1. Netherlands: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.4.9. Chromium Market - Russia
- 7.4.9.1. Russia: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5. Chromium Market - Asia Pacific
- 7.5.1. Asia Pacific: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.3. Chromium Market - China
- 7.5.3.1. China: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.3.2. China: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.4. Chromium Market - India
- 7.5.4.1. India: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.4.2. India: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.5. Chromium Market - Malaysia
- 7.5.5.1. Malaysia: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.6. Chromium Market - Japan
- 7.5.6.1. Japan: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.7. Chromium Market - Indonesia
- 7.5.7.1. Indonesia: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.5.8. Chromium Market - South Korea
- 7.5.8.1. South Korea: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.6. Chromium Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.6.3. Chromium Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.6.4. Chromium Market - UAE
- 7.6.4.1. UAE: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.6.5. Chromium Market - Israel
- 7.6.5.1. Israel: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.6.6. Chromium Market - South Africa
- 7.6.6.1. South Africa: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.7. Chromium Market - Latin America
- 7.7.1. Latin America: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.7.3. Chromium Market - Mexico
- 7.7.3.1. Mexico: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.7.4. Chromium Market - Brazil
- 7.7.4.1. Brazil: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Chromium Market, by Material, 2019-2032 (USD Billion)
- 7.7.5. Chromium Market - Argentina
- 7.7.5.1. Argentina: Chromium Market, by Application, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Chromium Market, by Material, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Al Tamman Indsil FerroChrome L.L.C
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Assmang Proprietary Limited
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. CVK Group
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Glencore
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Gulf Mining Group LLC
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Hernic Ferrochrome (Pty) Ltd.
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. MVC Holdings LLC
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Odisha Mining Corporation Ltd.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Samancor Chrome
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
List of Tables
- Table 1 Global Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 2 Global Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 3 Chromium Market Assessment, By Geography, 2019-2032 (USD Billion)
- Table 4 North America: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 5 North America: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 6 U.S.: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 7 U.S.: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 8 Canada: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 9 Canada: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 10 Europe: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 11 Europe: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 12 UK: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 13 UK: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 14 France: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 15 France: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 16 Germany: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 17 Germany: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 18 Italy: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 19 Italy: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 20 Spain: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 21 Spain: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 22 Netherlands: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 23 Netherlands: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 24 Russia: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 25 Russia: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 26 Asia Pacific: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 27 Asia Pacific: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 28 China: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 29 China: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 30 India: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 31 India: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 32 Malaysia: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 33 Malaysia: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 34 Japan: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 35 Japan: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 36 Indonesia: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 37 Indonesia: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 38 South Korea: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 39 South Korea: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 40 Middle East & Africa: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 41 Middle East & Africa: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 42 Saudi Arabia: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 43 Saudi Arabia: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 44 UAE: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 45 UAE: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 46 Israel: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 47 Israel: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 48 South Africa: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 49 South Africa: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 50 Latin America: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 51 Latin America: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 52 Mexico: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 53 Mexico: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 54 Brazil: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 55 Brazil: Chromium Market, by Material, 2019-2032 (USD Billion)
- Table 56 Argentina: Chromium Market, by Application, 2019-2032 (USD Billion)
- Table 57 Argentina: Chromium Market, by Material, 2019-2032 (USD Billion)
List of Figures
- Figure 1 Global Chromium Market, 2019-2032 (USD Billion)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Global Chromium Market, by Application, 2022 & 2032 (USD Billion)
- Figure 8 Market by Material
- Figure 9 Global Chromium Market, by Material, 2022 & 2032 (USD Billion)
- Figure 10 Chromium Market Assessment, By Geography, 2019-2032 (USD Billion)
- Figure 11 Strategic Analysis - Chromium Market
