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Chromium Market worth $36.34 billion by 2030, growing at a CAGR of 5.45% - Exclusive Report by 360iResearch
Chromium Market | 360iResearch
The Global Chromium Market to grow from USD 25.05 billion in 2023 to USD 36.34 billion by 2030, at a CAGR of 5.45%.
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Chromium is a versatile element characterized by its steel-gray appearance and durability; chromium is renowned for its exceptional ability to resist tarnish and maintain a high gloss. Its uses span from enhancing metal surfaces with protective and decorative chrome plating to creating stainless steel, known for its remarkable resilience under high temperatures. In industrial settings, chromium compounds are sought after for their high-temperature resilience. As a result, chromium's integration into multiple industries profoundly influences the economy, shaping supply chains, affecting price fluctuations, and falling under the orbit of regulatory standards. The steel industry primarily drives the demand for chromium, as it manufactures stainless steel and other alloys. The growth in infrastructure, automotive, and aerospace sectors also contributes to the demand for high-strength and corrosion-resistant materials. However, challenges include environmental concerns associated with the mining and production of chromium, which can lead to stringent regulations. Price volatility due to political instability in chromium-producing regions and fluctuating demand from the steel industry poses significant challenges. Opportunities include the burgeoning demand from emerging economies for infrastructure and consumer products. Additionally, the development of new applications of chromium in green technologies, such as the manufacturing of superalloys for wind turbines, presents new growth avenues.
Market Segmentation & Coverage:
This research report categorizes the Chromium Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Hexavalent Chromium and Trivalent Chromium. The Trivalent Chromium is projected to witness significant market share during forecast period.
Based on Application, market is studied across Chrome Plating, Dyes & Paints, Metal Ceramics, Refractory Materials, and Synthetic Rubies. The Synthetic Rubies is projected to witness significant market share during forecast period.
Based on End-use, market is studied across Aerospace, Automotive, Construction, and Electronics. The Aerospace is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 40.92% in 2023, followed by Asia-Pacific.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Chromium Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Chromium Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Chromium Market, highlighting leading vendors and their innovative profiles. These include ACI Alloys, Inc., AD International B.V., Al Tamman Indsil FerroChrome L.L.C, Anyang Wanhua Metal Material Co.,Ltd., Balasore Alloys Limited, Belmont Metals Inc., Chemlock Nutrition, Chongqing Changyuan Group Limited, Edgetech Industries LLC, Eti Elektrometalurji AŞ, Eurasian Resources Group S. à r.l., Exotech, Glencore PLC, JFE Mineral Co., Ltd., McGean-Rohco Inc., MM Metals USA LLC, Nippon Chemical Industrial Co., Ltd., Noah Chemicals, Inc., Orissa Mining Corporation, ProChem, Inc., R. D. Mathis Company, Reade International Corp., Samancor Chrome Holdings Proprietary Limited, Tata Steel Mining Limited, The Shepherd Material Science Company, and Winfred International Metal limited.
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Chromium Market, by Type
7. Chromium Market, by Application
8. Chromium Market, by End-use
9. Americas Chromium Market
10. Asia-Pacific Chromium Market
11. Europe, Middle East & Africa Chromium Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Chromium Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Chromium Market?
3. What is the competitive strategic window for opportunities in the Chromium Market?
4. What are the technology trends and regulatory frameworks in the Chromium Market?
5. What is the market share of the leading vendors in the Chromium Market?
6. What modes and strategic moves are considered suitable for entering the Chromium Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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