Global Chromium Market – Industry Trends and Forecast to 2031

Análise e dimensão do mercado de crómio

O mercado global de crómio continua a evoluir com dinâmicas significativas a influenciar a sua trajetória de crescimento. O crómio, um elemento crítico na produção de aço inoxidável, aplicações de galvanização e fabrico de ligas, mantém uma procura robusta em todos os setores industriais. A expansão do mercado é impulsionada pelo crescimento constante do consumo de aço inoxidável, particularmente nas indústrias da construção, automóvel e aeroespacial em todo o mundo. As crescentes iniciativas de urbanização e desenvolvimento de infra-estruturas reforçam ainda mais a procura de aço inoxidável , onde as propriedades de resistência à corrosão do crómio são fundamentais. Além disso, os avanços tecnológicos nas formulações de ligas e o aumento das aplicações no processamento químico e nos materiais refratários contribuem para a expansão do mercado.

O tamanho global do mercado de crómio foi avaliado em 15,30 mil milhões de dólares em 2023 e deverá atingir os 20,15 mil milhões de dólares até 2031, com um CAGR de 3,50% durante o período de previsão de 2024 a 2031. Para além dos insights sobre cenários de mercado, tais como valor de mercado , taxa de crescimento, segmentação, cobertura geográfica e grandes players, os relatórios de mercado com curadoria da Data Bridge Market Research também incluem análises especializadas aprofundadas, produção e capacidade da empresa representada geograficamente, layouts de rede de distribuidores e parceiros, detalhada e atualizada análise de tendências de preços e análise de défice da cadeia de abastecimento e procura.         

Âmbito do relatório e segmentação de mercado       

Definição de mercado

O crómio é um metal cinzento-aço altamente resistente à corrosão. O crómio é amplamente utilizado em diversas aplicações industriais, incluindo a produção de aço inoxidável, cromagem e ligas para melhorar a dureza e a resistência ao desgaste. Encontra também aplicações na indústria química, como pigmento em tintas e corantes e no fabrico de materiais refractários.            

Dinâmica do mercado do crómio

Motoristas

• Crescente procura por aço inoxidável    

A resistência à corrosão e a durabilidade do aço inoxidável tornam-no indispensável nos setores da construção, dos transportes e dos bens de consumo. À medida que as cidades expandem e modernizam as suas infra-estruturas, desde arranha-céus a pontes e caminhos-de-ferro, a necessidade de aço inoxidável cresce inabalavelmente. Esta tendência não só impulsiona a procura de crómio como elemento de liga crítico, como também sublinha o seu papel no desenvolvimento urbano sustentável e no progresso industrial. O ritmo crescente de urbanização e os projectos de infra-estruturas em curso a nível mundial continuam a impulsionar a procura de aço inoxidável, um consumidor-chave do mercado do crómio.                   

• Rápida Industrialização em Economias Emergentes  

A rápida industrialização nas economias emergentes, como a China e a Índia, aumenta significativamente a procura de crómio na produção de ligas e no desenvolvimento de infra-estruturas. Estes países estão a assistir a investimentos maciços nos sectores da indústria transformadora, da construção e dos transportes, todos eles fortemente dependentes das ligas de crómio pela sua robustez e propriedades anticorrosivas. À medida que estas economias continuam a crescer, impulsionadas pela urbanização e pelo aumento do consumo da classe média, espera-se que a procura de crómio aumente proporcionalmente, criando oportunidades para os intervenientes no mercado local e internacional expandirem a sua presença e investimentos.

Oportunidades

• Expansão na Indústria Aeroespacial    

Chromium's role in enhancing the strength-to-weight ratio of alloys makes it ideal for critical aerospace components, such as turbine blades, landing gear, and structural components. As global air traffic continues to grow and aircraft manufacturers focus on fuel efficiency and performance, the demand for advanced chromium alloys is poised to increase. This trend not only underscores chromium's importance in aerospace innovation but also opens avenues for technological advancements and collaborations across the aerospace supply chain. The aerospace industry's increasing demand for lightweight, high-strength materials presents significant opportunities for chromium alloys.        

• Technological Innovations for New Chromium-Based Products   

Investments in research and development for new chromium-based products and applications are unlocking doors for market expansion. Innovations in alloy formulations, surface treatments, and manufacturing processes are enhancing the performance and versatility of chromium in various industries. Research initiatives are focusing on developing chromium alloys with improved mechanical properties, corrosion resistance, and environmental sustainability. These technological advancements not only cater to existing applications in stainless steel and aerospace but also pave the way for new opportunities in sectors such as electronics, renewable energy, and healthcare, driving the future growth of the chromium market.

Restraints/Challenges

• Growing Presence of Substitute Materials      

Advancements in substitute materials like nickel alloys and composite materials pose a challenge to the growth of traditional chromium applications. Nickel alloys, for instance, offer similar corrosion resistance properties as chromium alloys and are increasingly preferred in certain industrial applications. In addition, composite materials combining fibers and resins are gaining traction in sectors where lightweight and high-strength properties are essential. The availability and price competitiveness of these substitutes relative to chromium alloys could influence market dynamics and limit the growth potential of chromium in certain applications.           

• Volatility in Raw Material Prices

Fluctuations in chromite ore prices significantly impact production costs and profit margins for chromium producers. Chromite, the primary source of chromium, is subject to price volatility influenced by geopolitical factors, mining regulations, and global demand-supply dynamics. Price fluctuations not only affect the profitability of chromium mining and processing operations but also impact end-user industries reliant on stable chromium supply chains. 

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In November 2022, Yildirim Group finalized the acquisition of Elementis plc's chromium business for USD 170 million. This acquisition includes Elementis Chromium's assets such as production facilities in Corpus Christi (TX) and Castle Hayne (NC), along with additional facilities in Amarillo (TX), Dakota (NE), and Milwaukee (WI)
• In June 2022, Tenaris announced a USD 29 million investment in its Dalmine steel shop to enhance production capacity for specialty steels high in chromium, like chromium 13. The investment, slated for completion by early 2023, involves upgrades across three stages of the production process

Chromium Market Scope

The market is segmented on the basis of type, grade, material, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Trivalent Chromium
• Hexavalent Chromium

Grade

• Metallurgical Grade
• Refractory and Foundry Grade
• Chemical Intermediary Grade
• Others

Material

• Ferrochromium
• Chromium Chemicals
• Chromium Metals
• Others

Application

• Stainless Steel Production
• Alloyed Steel Production
• Non-Ferrous Alloy Production
• Refractory Additives
• Others

Chromium Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, grade, material, and application as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, Israel, South Africa, and rest of Middle East and Africa

Asia-Pacific is expected to dominate the market due to the concentration of major stainless steel manufacturing facilities across the region. This dominance is bolstered by robust industrial growth and infrastructure development in countries like China and India, where stainless steel demand remains high for the construction, automotive, and consumer goods sectors.           

Europe is expected to be the fastest growing region due to increasing chromium ore production and the presence of key stainless steel manufacturers. This region benefits from technological advancements and stringent environmental regulations that favor sustainable chromium mining and processing practices.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Chromium Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Al Tamman Indsil FerroChrome L.L.C (Oman)
• Assmang Proprietary Limited (South Africa)
• CVK Madencilik (Turkey)
• Glencore (Switzerland)
• Hernic Ferrochrome (Pty) Ltd (Hernic) (South Africa)
• International Ferro Metals (IFM) (South Africa)
• Kermas Investment Group (U.K.)
• MVC Holdings LLC (U.S.)
• Odisha Mining Corporation Ltd (India)
• Tenaris (Luxembourg)
• YILDIRIM Group of Companies (Turkey)

SKU-59645