Chromium Oxide Market, conveys rigorous analysis of Industry and prospects to 2026

(The Express Wire via Comtex)

Rapid Advancements in Chromium Oxide Market to Fuel Revenues Through 2018-2026

The global chromium oxide market is set to touch USD 703.3 million by 2026, exhibiting a 4.6% CAGR during the forecast period. Rising steel production will be the key factor driving the global chromium oxide market growth during the forecast period. Steel production is one of the core economic activities for any country and steel is extensively used in a variety of industries such as automotive and construction. Economic development across the globe have further raised the demand for steel, leading to a constant rise in its production. According to the World Steel Association (WSA), the steel industry accounts for close to USD 2.9 trillion in terms of value addition. The WSA has further reported that compared to 2017, in 2018, steel production rose by 4.6%, with Asia recording the highest growth. Chromium oxide is a crucial compound in production of steel and increasing activities in the steel industry will likely raise the global chromium oxide market demand in the forecast period.

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Asia-Pacific to Occupy a Leading Position in the Market

Among regions, Asia-Pacific is expected to hold the dominant portion of the global chromium oxide market share. This is mainly on account of growing metal production, developing construction industry, and rising demand for automobiles in India and China. Increasing demand for chromium oxide in plastics and ceramics will be the key factor driving the chromium oxide market in Europe. Wide application of chromium oxide in paints and coatings in the US is likely to spur the market growth in North America. In Africa and the Middle East, the market will primarily be driven by growing demand for chromium oxide in pigment production.

New Product Launches to Energize Market Competition

Key competitors in the global chromium oxide market are strategizing to strengthen their position in the market by coming out with novel products. For example, in March 2019, LANXESS exhibited chromium oxide pigments under the brand name Colortherm, having a high milling stability and heat resistance. Similarly, the MIDURAL Group has developed Chromium 1915 which is designed to be used in the production of chrome-infused industrial reagents and other materials such as potassium dichromate and chromium anhydride.

Fortune Business Insights covers some of the major players in the global chromium oxide market:

  • ELEMENTIS
  • MidUral Group
  • Vishnu Chemicals Ltd.
  • Hunter Chemical LLC
  • LANXESS
  • Venator
  • Sichuan Yinhe Chemicals
  • Hebei Chromate Chemical Co. Ltd.
  • Luoyang Zhengjie Science and Technology Industry Trade Co.,Ltd
  • Shijiazhuang Jirong Chemicals Co. Ltd.
  • NIPPON CHEMICAL INDUSTRIAL CO., LTD.

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Some major points from Table of Content Chromium Oxide Market:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.2. Research Methodology
1.3. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Industrial Use cases
4.1. Use Case #1
4.2. Use Case #2
4.3. Use Case #3
5. Key Insights
5.1. Macro and Micro Economic Indicators
5.2. Consolidated SWOT Analysis of Key Players
6. Global Calcium Carbide Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Type (Value)
6.2.1.1. Software
6.2.1.2. Services
6.2.1.2.1. Professional Services
6.2.1.2.1.1. Implementation and Consulting Services
6.2.1.2.1.2. Training and Support
6.2.1.2.2. Managed Services
6.2.2. By Deployment Type (Value)
6.2.2.1. Cloud
6.2.2.2. On-Premise
6.2.3. By Geography (Value)
6.2.3.1. North America
6.2.3.2. Europe
6.2.3.3. Asia Pacific
6.2.3.4. Middle East and Africa
6.2.3.5. Latin America
7. North America Calcium Carbide Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecasts
7.2.1. By Type (Value)
7.2.1.1. Software
7.2.1.2. Services
7.2.1.2.1. Professional Services
7.2.1.2.1.1. Implementation and Consulting Services
7.2.1.2.1.2. Training and Support
7.2.1.2.2. Managed Services
7.2.2. By Deployment Type (Value)
7.2.2.1. Cloud
7.2.2.2. On-Premise
7.2.3. By Country (Value)
7.2.3.1. United States
7.2.3.2. Canada

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