Press release
Chromium Market Future Landscape To Witness Significant Growth
A Transparency Market Research report on the global chromium market finds that while competition is very stiff in Asia Pacific, excluding Japan because of innumerable players in it, the North America market presents a more subdued competitive landscape because of being consolidated.
Some of the noteworthy players in the global chromium market listed in the report are Toshiba Medical Systems Corporation, Samancor Chrome, Xinapse Systems Ltd., Odisha Mining Corporation, and MVC Holdings LLC.
๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.transparencymarketresearch.com/chromium-market.html
The report finds that the market would be worth US$18 bn by the end of 2026.
With respect to grade, the global chromium market can be classified into refractory and foundry gate, chemical intermediary grade, and metallurgical grade. Among them, the metallurgical grade chromium currently dominates the market with a substantial share. With respect to geography, Asia Pacific at present is the largest chromium market. This is because of the presence of large stainless steel manufacturing facilities in developing nations of India and China. Besides, surging demand from different stainless steel end-use industries, particularly automotive and aerospace is also having a positive impact on the market. With respect to revenue, Asia Pacific is predicted to rise at 3.1% CAGR from 2017 to 2025.
Massive Demand for Stainless Steel Buoys Growth in Global Chromium Market
At the forefront of driving demand in the global chromium market is the rising demand for stainless steel. About 18.0% of a stainless steel is comprised of chromium which improves its hardness and resistance of oxidation. In this manner, it protects the steel from corrosion. Elaborates the lead analyst of the report, "Rising construction activities and infrastructure development worldwide, especially in developing nations of Asia Pacific and Latin America are at the forefront of driving demand in the global chromium market. Some of these nations are not just major consumers but also major producers."
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2316
The economic development worldwide leading to sales of automobiles is another factor stoking the global chromium market. Adds the lead analyst of the report, "The soaring demand for thin coatings in automotive industry, which not just lessens costs but also brings down environmental effects by reducing the overall weight of the vehicle, has led to demand in global chromium market."
Carcinogenic Properties of Chromium Deters Uptake
Acting as a deterrent to the global chromium market, on the other hand, is its carcinogenic properties and price volatility. Chromium is toxic and is present in two forms hexavalent and trivalent. Between the two, trivalent is considered less acute. The hexavalent chromium, on the other hand, impacts the respiratory tract in humans after prolonged exposure.
๐๐๐ญ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2316
The review is based on the findings of a TMR report, titled, "Chromium Market (Grade - Metallurgical Grade, Refractory & Foundry Grade, and Chemical Intermediary Grade; Application - Stainless Steel Production, Alloyed Steel Production, Non-ferrous Alloy Production, Refractory Additives, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2026."
The report segments the Global Chromium Market into the following:
Global Chromium Market, by Grade
Metallurgical Grade
Refractory and Foundry Grade
Chemical Intermediary Grade
Global Chromium Market, by Application
Alloyed Steel Production
Stainless Steel Production
Refractory Additives
Non-ferrous Alloy Production
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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๐๐๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://datahorizzonresearch.com/request-sample-pdf/chromium-market-11109
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