Chromium Oxide Market - By Type (Pigment Grade, Metallurgical Grade, Refractory Grade), By Form (Powder, Dispersion, Paste), By Application (Pigments and Colorants, Metallurgy, Ceramics, Coatings and Paints, Abrasives) & Forecast, 2023 – 2032
Report ID: GMI4090
|
Published Date: August 2023
|
Report Format: PDF
Download Free PDF
Buy Now
$4,123 $4,850
15% off
$4,840 $6,050
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2022
Companies covered: 15
Tables & Figures: 191
Countries covered: 21
Pages: 150
Download Free PDF
Chromium Oxide Market
Get a free sample of this report
Get a free sample of this report Chromium Oxide Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Chromium Oxide Market Size
Chromium Oxide Market size was valued at around USD 544.1 million in 2022 and is anticipated to grow at a CAGR of 4.6% between 2023 and 2032. Chromium oxide's resistance to high temperatures makes it a valuable pigment in ceramics, glass, and enamels. The distinct and durable green color produced by chromium oxide pigments makes them desirable for various artistic and industrial applications.
Chromium oxide's corrosion-resistant properties make it suitable for protective coatings in industries such as automotive, aerospace, and marine. Coatings containing chromium oxide are known for their durability and ability to withstand harsh environmental conditions.
Hexavalent chromium compounds, including chromium oxide, can pose environmental and health risks. Chromium, the primary raw material for chromium oxide production, is sourced from limited geographical locations. The price of chromium, a key raw material, can be subject to volatility due to global market dynamics, supply-demand imbalances, and geopolitical factors. Thus, the risks associated with Chromium oxide may drive down the acceptance rate, further hampering the business growth.
COVID-19 Impact
Many industrial facilities experienced temporary closures or reduced operations due to COVID-19 restrictions, impacting the production of chromium oxide and related products. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
Chromium Oxide Market Trends
Increasing emphasis on sustainable and environmentally friendly practices is driving research into cleaner and greener methods for chromium oxide production. Research into the applications of nanoscale chromium oxide is expanding, with potential uses in electronics, sensors, catalysis, and advanced materials. Manufacturers are exploring ways to recycle and reuse chromium oxide, reducing waste and minimizing the environmental impact.
Chromium Oxide Market Analysis
Based on type, the chromium oxide market is segmented as pigment grade, metallurgical grade, refractory grade, other industrial grades. Pigment Grade held a majority market value of USD 206.2 million in 2022. The intense and durable green color produced by green chromium oxide makes it a preferred choice for pigments and colorants in ceramics, glass, and paints. The green color imparted by green chromium oxide is used in the glass industry for creating colored glassware, decorative glass, and stained glass.
Based on form, the chromium oxide market is segmented as powder, dispersion, paste. Powder held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Chromium oxide powder can be easily mixed to achieve consistent and vibrant colors in pigments and colorants for ceramics, paints, and coatings.
Based on application, the chromium oxide market is segmented as pigments and colorants, metallurgy, ceramics, coatings and paints, abrasives, others. Pigments and Colorants held a dominant market share in 2022 and is anticipated to grow at 4.5% CAGR between 2023 and 2032. The intense green color produced by chromium oxide pigments is a key driver in industries such as ceramics, paints, and coatings where rich and lasting colors are desired. Thus, the high-quality services and growing usage of chromium oxide are anticipated to expedite the business growth.
U.S. dominated the North American region with majority market share and a revenue of USD 110.5 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. The automotive and aerospace sectors utilize chromium oxide coatings for corrosion protection and aesthetic finishes, driven by the demand for durable and visually appealing products. Thus, the above-mentioned variables would augment the chromium oxide business growth in the North America positively.
Chromium Oxide Market Share
Some of the major business players operating in the Chromium oxide market are:
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Chromium Oxide Industry News:
Chromium oxide market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
By Type
By Form
By Application
The above information is provided for the following regions and countries: