The global Chromium Market was valued at $14.12Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $18.2Billion.
Chromium is a chemical element which is lustrous steel- gray color & takes a high polish. It is hard & resistant to corrosion. It has a high melting point, stable crystalline structure, & moderate thermal expansion. It is odorless, malleable, & tasteless. Chromium is not found in as a free element in nature but is found in form of ores called chromite. Chromium contains 21 isotopes. Chromium is used to harden steel. it is a component of many alloys & stainless steel. This metal is used to produce a shiny surface. chromium is used as a catalyst & forms many colorful compounds that have industrial uses. chromium compounds are valued as a pigment for their vivid yellow, green, & orange colors.
“Optimal Price Point (OPP) for Chromium”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the North AmericaChromiumareavailable at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Chromium Market “by Application Categories”
We have segmented the Chromium Market based on Application categories as Metallurgy, Chemicals, Refractory.
We observe the maximum use of chromium in the application of the metallurgy industry like in steel industry due to its intrinsic properties such as excellent corrosion resistance properties, hardness, high oxidative. Chromium is also used in the form of metal, Ferroalloys& scrape of stainless steel. These factors are anticipated to further demand over the forecast period.
Asia Pacific accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Aluminum materials followed by Top EU countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
The key regions analyzed in the study include Asia-Pacific, Latin America,and the Middle East and Europe. In 2017, Europe has the major market share followed by Asia-Pacific.
Due to the rise in demand of due to the demands of chromium metal. The AsiaPacific is expected to have the growth such as India, China, Japan encouraging providing profit margins to key market participants, and rising disposable income is driving the regional market.
“Competitive Landscape “and “Merger & Acquisition Insights”
The key market participants include Gulf Mining Group LLC, Samancor Chrome, Kermas Group Ltd, Eurasian Natural Resources Corporation, CVK Group, Hernic Ferrochrome (Pty) Ltd, Glencore PLC, Samancor Chrome are few major players in Chromium market. The market of Chromium is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Chromium Market by Application Categories(Revenue, Million, 2014 – 2025)
Chromium Market Regional Outlook (Revenue, USD Million, 2014- 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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