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The market is experiencing several evolving trends, particularly in the increasing focus on sustainable production methods. Manufacturers are adopting greener technologies to reduce the environmental impact of chromium extraction and processing. Additionally, the market is seeing growing demand for chromium-based compounds in emerging applications, such as in the development of advanced materials for energy storage and environmental protection.
Another significant trend is the rising popularity of chromium supplements, particularly chromium picolinate, driven by increasing consumer awareness around health and wellness. Furthermore, there is a shift toward improving product quality through innovations in production techniques, enhancing the efficiency and purity of chromium salts. This trend is accompanied by growing investments in research to unlock new uses of chromium in various industries.
The chromium sulfate segment accounted for over USD 1.5 billion in 2024 and is expected to grow at a CAGR of 5.1% from 2025 to 2034, driven by its extensive use in leather tanning, pigments, and electroplating applications.
The global market size for chromium salt was valued at USD 4.9 billion in 2024 and is projected to reach USD 7.9 billion by 2034, driven by a CAGR of 4.9% during the forecast period.
The market in China was valued at over USD 545.8 million in 2024 and is expected to grow at a CAGR of 4.6%, driven by the country’s strong industrial base and extensive mining and production capabilities.
Major players in the industry include American Elements, Arkema SA, BASF SE, Hubei Zhenhua Chemical, Lanxess AG, Loba Chemie, Merck Group, Otsuka Chemical, Oxkem, Thermo Fisher Scientific, and Xinjiang Sing Horn Group.