Chromium Salt Market Worldwide Industry Analysis and New Market Opportunities Explored

Chromium salt is chemically represented with the symbol Cr and atomic number 24 in the periodic table. It is placed in the first position in group six of the periodic table. Chromium is steel gray in color. It has high melting point and high polish properties. It is resistant to tarnishing. Chromium has high corrosion resistance ability. Natural existence of chromium is rare; most of the chemical compounds are manufactured. Stainless steel, an alloy of steel and chromium, offers corrosion and stain resistance. Hence, it one of the extensively used metals in commercial applications. The process of manufacturing chromium salt by removal of iron ore with the help of sodium carbonate and calcium oxide in order to form water soluble chromium salt. Chromium salt is always found in the form of crystalline powder, which is soluble in water. The melting point of chromium salt varies to some extent; it is usually between 190°C and 2600°C. Additionally, its solubility in water depends upon the oxidation sate, as the solubility property rises with the increased oxidation state of chromium salt. Demand for chromium salt is anticipated to rise due to the increase in number of applications.

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The global chromium salt market can be segmented based on application, end-use industry, and region. In term of application, the chromium salt market can be divided into metallurgy, dyes and pigments, wood preservatives, leather tanning, refractory material, and catalyst. The dyes and pigment segment comprises paints. The segment is expanding rapidly in emerging markets. This is projected to boost the chromium salt market in the near future. Metallurgy is used widely in automobile and mechanical industries. Chromium salt is employed extensively in metal, leather, and sweater treatment process. In terms of end-use industry, the chromium salt market can be divided into textile, automobile, leather paints, aerospace, steel, and tool manufacture. In the leather industry, 90% of leather tanning process is carried out with the help of chromium salt. Demand for leather in the global market has been rising significantly. This is likely to propel the chromium salt market during the forecast period.

Geographically, the chromium salt market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Increase in demand for dyes and paints in Asia Pacific and Middle East is driving the chromium salt market in these regions. The pigments industry in the U.S. is in the stage of maturity. However, it is projected to expand further in the next two years. This is anticipated to drive the chromium salt market. Developing economics such as India and China are the most promising markets for chromium salt, as majority of demand arises from these countries.

The paints and dye industry is flourishing in major countries in the Middle East and Europe. This is indirectly attracting the interest of chromium salt manufacturers. Chromium salt exhibits harmless and hazardous properties, which are bound to affect the people, who work in close proximity with the salt on the regular basis, and hence, proper safety gear is to be utilized while handling such a salt. Environmental rules and regulations owing to these harmful properties of chromium salt is deployed, especially in Europe and the U.S.

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Key players operating in the global chromium salt market are BASF SE, Bayer AG, American Elements, Ciba Specialty Chemicals, and Oxkem Ltd.

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