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Chromium Carbide Market to Witness a Pronounce Growth During 2015-2021
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The market for chromium carbide was driven by variety of applications such as surface coatings, thermal sprays, overlay plates and chrome plating among others. Chromium carbide offer wear resistance coatings as well as corrosion resistance to the surfaces when blended with metal matrix. In welding electrodes, chromium carbide is preferred over carbon contain electrodes as they provide superior results. In addition, chromium carbide offers abrasion resistance to the surfaces. In thermal spray applications, chromium carbide is used along with nickel to form nickel chrome metal matrix which is used in protection of aluminum parts and other machinery. Along with tungsten chromium carbide is used to manufacture cutting tools. Chromium carbide is used in cutting tools to avoid formation of grains during sintering process. In spite of so many applications, health issues associated with chromium carbide due to its toxicity and fluctuating prices is likely to hinder the growth of the global chromium carbide market in next few years to come.
In terms of demand, Asia Pacific was the leading region in chromium carbide market in 2013. Asia Pacific is expected to be the fastest growing markets for chromium carbide due to increasing demand for surface coatings and thermal spray wielding applications. China had the largest demand in chromium carbide market in Asia Pacific region. Other countries such as India, Japan, Taiwan and South Korea are likely to exhibit more demand for chromium carbide in upcoming years. Asia Pacific was followed by North America.
Increasing demand from metal surface coatings and rising demand from aerospace industry is driving the demand for chromium carbide in this region. The U.S. had the largest demand for chromium carbide owing to huge demand aerospace applications. In terms of demand, Europe had the third-largest demand for chromium carbide market in 2013. Increasing demand for chromium carbide from surface coatings, chrome plating and cutting tools has been driving the market for chromium carbide in Europe. Germany had the highest demand for chromium carbide in European region. Other major countries with higher demand for chromium carbide in this region are Sweden, the UK and France among others. Rest of the World market is anticipated to show positive growth for the chromium carbide market in near future. Latin America and the Middle East are likely to be major market for chromium carbide in this region owing to growing surface coating market in next few years.
Some of the key manufacturers in the chromium carbide market are Oerlikon Metco, SSAB Wear solutions LLC, SAS Global Corporation, ZhuZhou GuangYuan Cemented Material Co., Ltd. among others.
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