Summary

Chromium Market Growth & Trends

The global chromium market size is expected to reach USD 33.09 billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand from the stainless steel industry has been a key factor driving market growth globally. Robust growth of various end-use industries in Asia Pacific is fueling stainless steel demand and, in turn, demand for chromium.

Chromium finds extensive application across segments such as chrome plating and finishing, in production of synthetic rubies, metal ceramics, dyes and paints, and in various super alloys. It is also used in metallurgy to render a shiny finish and impart corrosion resistance.

Asia Pacific is witnessing increased demand for chromium due to booming manufacturing in automotive and electronics industries in the region. China and India are key contributors in these industries. Strong GDP growth rate, increasing income, and government support are driving automotive production in these countries. Moreover, stronger demand has been observed from lower-tier cities in these countries owing to decline in automobile prices.

Rising number of buyers on account of the unique properties exhibited by chromium, such as corrosion resistance and shiny texture, has led to low bargaining power of buyers. Growing demand for chromium in metal finishing and plating industry in Asia Pacific is expected to drive the market. However, the carcinogenic properties of chromium may lead to severe health effects, thereby hampering market growth.

Chromium Market Report Highlights

• The chromium market is expected to grow significantly over the forecast period owing to the rising production levels of stainless steel-related products.

• Metallurgy segment held the largest revenue share of 92.4% in 2022. Stainless steel and high-resistance steel manufacturers are major consumers in the metallurgy segment. Chromium is used in the form of ferroalloys, metals, and scrapes of stainless steel in metallurgical applications.

• The chemicals segment is anticipated to register a CAGR of 4.6% over the forecast period.

• Asia Pacific dominated the market with a share of 50.7% in 2022. The production of stainless steel is increasing at a rapid rate on account of huge demand arising from application industries such as automotive, aerospace, defense, electronics, and building & construction.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Material
1.1.2. Application
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Material outlook
2.2.2. Application outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Chromium Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.6. Chromium Market Analysis Tools
3.6.1. Industry Analysis - Porter’s
3.6.1.1. Supplier power
3.6.1.2. Buyer power
3.6.1.3. Substitution threat
3.6.1.4. Threat of new entrant
3.6.1.5. Competitive rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political landscape
3.6.2.2. Technological landscape
3.6.2.3. Economic landscape
3.6.2.4. Social landscape
3.6.2.5. Environmental landscape
3.6.2.6. Legal landscape
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Chromium Market: Material Estimates & Trend Analysis
5.1. Chromium Market: Key Takeaways
5.2. Chromium Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Ferrochromium
5.3.1. Ferrochromium market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.4. Chromium Chemicals
5.4.1. Chromium chemicals market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.5. Chromium Metals
5.5.1. Chromium metals market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
5.6. Others
5.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
Chapter 6. Chromium Market: Application Estimates & Trend Analysis
6.1. Chromium Market: Key Takeaways
6.2. Chromium Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Metallurgy
6.3.1. Metallurgy market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.4. Chemicals
6.4.1. Chemicals market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.5. Refractory
6.5.1. Refractory market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
6.6. Others
6.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million, Kilo Tons)
Chapter 7. Chromium Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Chromium Market by Region: Key Takeaway
7.3. North America
7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.3.4. Mexico
7.3.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4. Europe
7.4.1. Germany
7.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4.2. UK
7.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4.4. Italy
7.4.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4.5. Spain
7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.4.6. Russia
7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.4. Australia
7.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.5. South Korea
7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.6. Thailand
7.5.6.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.7. Indonesia
7.5.7.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.5.8. Malaysia
7.5.8.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.6. Central & South America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.7.2. South Africa
7.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
7.7.3. UAE
7.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million) (Volume, Kilo Tons)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Glencore
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Samancor Chrome
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. Assmang Proprietary Limited
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Odisha Mining Corporation Ltd.
8.2.4.1. Company overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. Hernic Ferrochrome (Pty) Ltd.
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. CVK Group
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. Al Tamman Indsil FerroChrome L.L.C
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. Gulf Mining Group LLC
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. MVC Holdings LLC
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives