Press release
Chromium Carbide Market reaching a peak level by the end of 2025 : OC Oerlikon Corporation AG, H.C. Starck GmbH, Pfäffikon,Sigma-Aldrich Co. LLC
Chromium carbide is a ceramic compound which is found in various compositions. In ideal conditions it exists as a grey colored solid material. It is a corrosion resistant compound, with a very hard texture. The compound sustains it strength even in the extreme conditions such as high temperatures. This makes it a perfect additive to make metal alloys. The global chromium carbide market is expected to grow with a steady single digit CAGR vis-à-vis value within the forecast period from 2017 to 2025.
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On the basis of application, the global market is divided into welding electrodes, cutting tools, and wear and corrosion resistant coatings. Among these, the welding electrode segment is anticipated to lead the global market in forthcoming years. On the basis of end-use industry, the global market is segregated into mining, energy, steel, glass, cement, pulp and paper, and others. Out of these, the mining segment is foreseen to turn up as one of the most profitable sectors.
Global Chromium Carbide Market: Trends and Opportunities
Chromium carbide is used in various applications. Owing to its resistance to corrosion and extreme hardness, it is use as wear resistant coating. Due to its refractory nature, it can be wear resistant even at high temperatures. With more types of carbides taken in, chromium carbide is used as an added substance to help prevent unnecessary grain development to betters the hardness of the carbide.
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Chromium carbide is experiencing surging applications in energy, construction, and the mining industry all over the world, especially in China and the other developing countries in Asia Pacific and South East Asia. Chromium carbide in the mining industry, for example, is used in making chromium carbide overlay plates which find application in dragline buckets, truck beds, shovel buckets and excavator liners, dozer blades, and hoppers. In addition, chromium carbide also finds usage in making cutting tools and tubular hard-facing electrodes used for mining aluminum, coal, zinc ore, and minerals.
Global Chromium Carbide Market: Regional Analysis
Geographically, China is anticipated to sustain its leading position in the consumption of both chromium carbide and steel, in the steel industry. The development of infrastructure and other important industrial activities in the energy, cement, mining, and steel sectors in the nation is expected to boost the demand for particular industrial equipment which require chromium carbide as the raw material. This is predicted to fillip its demand.
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Global Chromium Carbide Market: Competitive Landscape
OC Oerlikon Corporation AG, H.C. Starck GmbH, Pfäffikon,Sigma-Aldrich Co. LLC., Strem Chemicals, Inc., Praxair S.T. Technology, Inc., Alfa Aesar, Reade International Corp., ZhuZhou GuangYuan Cemented Material Co., Ltd, Changsha Langfeng Metallic Material Co.,Ltd., NewMet Ltd., ESPICorp Inc., LTS Research Laboratories, Inc., Inframat Corporation, Nanoshel LLC, and American Elements are some of the leading players in global chromium carbide market.
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