Press release
Growth of Chromic Acid Market, Revenue, Manufacturers Income, Sales, Market Trend Report Archives in 2024
The global Chromic Acid revenue was US$ 1052 million in 2023 and is forecast to a readjusted size of US$ 1426 million by 2030 with a CAGR of 4.0% during the review period (2024-2030).
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https://www.qyresearch.com/reports/3256781/chromic-acid
Chromic acid is a compound with the chemical formula H2CrO4. Chromic acid is also known as chromate formed by hexavalent chromium dissolved in water. Its molecular weight is 118.0 g/mol, melting point is 197°C, density is 1.201 g/cm3, and CAS number is 7738-94-5. Chromic acid is a red solid at room temperature and pressure, and its decomposition point is 250°C. Chromic acid solution of normal concentration is yellow-red, but at higher concentrations, it turns red or dark red and turns black.
Chromium trioxide is the anhydride of chromic acid and is an orange-red solid at room temperature. Since it can be precipitated by adding concentrated sulfuric acid to an aqueous solution of chromate or dichromate, it has long been called "chromic acid" in industry.
According to the new market research report "Chromic Acid- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global Chromic Acid market size is projected to grow from USD 1051.7 million in 2023 to USD 1.43 billion by 2030, at a CAGR of 4.02% during the forecast period.
This report profiles key players of Chromic Acid such as Asia Pacific, Europe and America.
In 2023, the global top five Chromic Acid players account for 69.40% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Chromic Acid.
Market Drivers:
Emerging market demand: As the industrialization process of emerging economies accelerates, the demand for chromic acid in these markets will continue to grow. In particular, the Asian and African markets have brought new demand growth points due to the construction of industrial infrastructure and the development of manufacturing. For example, in China, about 10% of industrial products in the national economy are related to chromium salts, which are an indispensable and important link and raw material in the modern industrial system.
Downstream industry drive: The market size of some traditional application areas of chromium salts was relatively small before, but in recent years, benefiting from the rapid development of related industries, the market space is in a high-speed growth trend. Electrical steel is a typical expansion area. In recent years, driven by the demand for new energy vehicles, the demand for high-grade electrical steel has increased, and further driven the rapid growth of demand for high-quality chromic anhydride as the main material for covering coatings.
Restraint:
Market competition: With the competition in the international chromium salt industry for many years, the competition and integration trend in the industry has become more prominent. At present, the world has initially formed a market pattern in which only one dominant chromium salt enterprise remains in a certain region, and the head effect has gradually become prominent. Existing enterprises should improve their market competitiveness to avoid being eliminated from the market.
Raw material prices and supply: The chromic acid industry is highly dependent on raw materials. The instability of raw material supply and price fluctuations may lead to delayed production plans, increased costs and even production interruptions. Enterprises need to establish a sound supply chain system and establish long-term and stable cooperative relationships with suppliers to reduce risks in raw material prices and supply.
Environmental regulations: Due to the potential harm of chromic acid to the environment and human health, the use of chromic acid is being strictly restricted. At present, the industry is actively developing low-toxic or non-toxic alternatives, such as trivalent chromium salt electroplating processes, as well as improving the recycling rate of chromic acid and reducing emissions.
Opportunity:
Technological progress: With the advancement of science and technology, the production technology of chromic acid is also constantly improving, and production efficiency and quality are further improved. However, the improvement of environmental protection requirements has also posed higher challenges to production technology, and enterprises need to continuously improve production processes to meet environmental protection requirements.
Application expansion: As an important inorganic chemical product, chromic acid is widely used in many fields such as electroplating, leather, pharmaceuticals, petroleum, textiles, dyes and pigments. The demand for chromic acid in these fields constitutes the main part of the market.
Wide regional distribution: The market demand for chromic acid is widely distributed around the world, but the main consumption areas are concentrated in Europe, North America and Asia. These regions have a high degree of industrialization and a relatively large demand for chromic acid.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Chromic Acid market is segmented as below:
By Company
Hubei zhenhua chemical co., LTD
Sisecam
Sichuan Yinhe Chemical Co., Ltd
American Chrome & Chemicals
Brother Enterprises Holding Co
Vishnu Chemicals
Novotroitsk Plant of Chromium Compounds
Segment by Type
Superior Grade
First Grade
Qualified Grade
Segment by Application
Metal Processing
Organic Synthesis
Others
Each chapter of the report provides detailed information for readers to further understand the Chromic Acid market:
Chapter 1: Introduces the report scope of the Chromic Acid report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Chromic Acid manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Chromic Acid market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5: Sales, revenue of Chromic Acid in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6: Sales, revenue of Chromic Acid in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Chromic Acid competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Chromic Acid comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Chromic Acid market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Chromic Acid- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Chromic Acid Market Insights, Forecast to 2030
Global Chromic Acid Market Research Report 2024
Global Chromic Acid Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global Chromic Acid Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
Chromic Acid - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Chromic Acid Scrubber Market Insights, Forecast to 2030
Global Chromic Acid Scrubber Market Research Report 2024
Chromic Acid Scrubber - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global High Purity Chromic Acid Market Insights, Forecast to 2030
Global High Purity Chromic Acid Market Research Report 2024
Global Chromic Acid Anodizing Service Market Research Report 2024
Global and United States Chromic Acid Anodizing Service Market Report & Forecast 2024-2030
Global Chromic Acid Anodizing Service Market Insights, Forecast to 2030
Chromic Acid Anodizing Service- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Chromic Acid - Global Market Insights and Sales Trends 2024
Global Chromic Acid Market Research Report 2023
Global Chromic Acid Sales Market Report 2023
Global Chromic Acid Industry Research Report, Growth Trends and Competitive Analysis 2023-2029
Global Chromic Acid Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
If you have any queries regarding this report or if you would like further information, please contact us:
QY Research Inc.
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QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 17 years' experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let's work closely with you and build a bold and better future.
QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.
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