Chromic Oxide Market Development Strategy, Explosive Factors of Revenue by Key Vendors Demand, Future Trends
Market Highlights
The Chromic Oxide Market is projected to be
valued at USD 353,564.5 Thousand by the end of 2030 and
expected to exhibit a CAGR of 5.13% during the forecast
period.
The key factor driving the growth of the global
market is the increasing demand for the product in the paints & coatings
industry majorly as a pigment. These pigments exhibit superior performance
properties in terms of opacity, resistance to acid and alkali, chemical
resistance, corrosion resistance, exterior durability, and compatibility. The
chromium oxide coatings exhibit excellent self-mating and anti-galling
properties, owing to which they are recommended for applications wherein resistance
to wear by abrasive grains, particle erosion, hard surfaces, and cavitation is
required. The healthy growth of the paints & coatings industry globally,
which is mainly attributed to increasing investments in construction activities
globally, particularly residential construction, is expected to boost the
demand for chromium oxide pigments in the coming years.
The growth of the construction industry in the
developing countries of Asia-Pacific and the Middle East & Africa due to
rise in residential and commercial construction activities has fueled the
demand for concrete and cement, and thereby for cement colorants, decorative
coatings, and other building materials. In the building & construction
industry, oxide pigments are ideal for coloring materials used in the
construction industry, such as concrete and other construction materials. The
growing urbanization with increasing per capita disposable income and changing
lifestyles are important factors driving the growth of the construction
industry in the developing markets. This is likely to create lucrative
opportunities for the manufacturers of chromium oxide during the review period.
However, the health hazards associated with chromium
oxide is expected to hamper the growth of the global market to an extent during
the forecast period. Chromium oxide is considered toxic and can lead to various
chronic and acute health issues on inhalation, skin contact, ingestion, or eye
contact.
Segment Analysis
The global Chromic Oxide Market has
been segmented on the basis of grade, application, and region.
Based on grade, the market has been divided into
pigment grade, metallurgical grade, and refractory grade. The pigment grade segment
accounted for the largest market share and was valued at USD 95.77 million
in 2017 and is expected to exhibit a significant CAGR of 5.32% during
the forecast period. This is attributed to its excellent lightfastness and
weatherability, resistance to acids, alkalis, solvents, and corrosion resistant
properties. Chromium oxide pigments are majorly used in the formulation of
paints, coatings, enamels, and plastic products.
By application, the global chromium oxide market has
been segmented into paints & coatings, glasses, ceramics, inks & dyes,
bricks & concrete, metallurgy, and others. The metallurgy segment accounted
for the largest market share of over 30% in 2017 and
is projected to be valued at over USD 104 million by the end of 2030.
Browse Full Report Details @
https://www.marketresearchfuture.com/reports/chromium-oxide-market-8113
Key Players
MRFR recognizes the following companies as the key
players in the global chromium oxide market— Venator
Materials PLC (UK), LANXESS (Germany), Hubei Zhenhua Chemical Co., Ltd (China),
Elementis plc (UK), Saint-Gobain (France), Reade International Corp (US),
Vishnu Chemicals (India), American Elements (US), Hunter Chemical LLC (US), and
Chrome Star Chemical Works (India), among others.
Regional Analysis
The global chromium oxide market is studied with
respect to five key regions, namely Asia-Pacific, North America, Europe, the
Middle East & Africa, and Latin America. The Asia-Pacific market was the
leading regional market in 2017 and is expected to be a dominant market,
registering a CAGR of around 6% during the forecast period.
The European market held the second-largest share of the global market and is
projected to be valued at over USD 93 million by the end of 2030. North
America also held a substantial market share of around 14% in 2017.
Key Findings of the Study:
- Global chromium oxide market is projected
to reach over 7 kilotons by 2030 with
a CAGR of
around 4% during the
forecast period of 2018–2030
- Asia-Pacific dominated the global market
with a share of over 45%owing to the
increasing demand for chromium oxide in the major economies of China,
India, Thailand, and Indonesia
- The pigment grade segment held 45% of
the global market share in 2017 and is expected
to be valued at over USD 186.6 million by the end of 2030
- Metallurgy is estimated to be the
dominant application segment in the global chromium oxide market during
the forecast period
Request For Sample Report Here @
https://www.marketresearchfuture.com/sample_request/8113
About Market Research Future:
At Market Research Future (MRFR), we enable our
customers to unravel the complexity of various industries through our Cooked
Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting
Services.
MRFR team have supreme objective to provide the
optimum quality market research and intelligence services to our clients. Our
market research studies by products, services, technologies, applications, end
users, and market players for global, regional, and country level market
segments, enable our clients to see more, know more, and do more, which help to
answer all their most important questions.
In order to stay updated with technology and work
process of the industry, MRFR often plans & conducts meet with the industry
experts and industrial visits for its research analyst members.
Contact:
Market Research Future
Phone: +16468459312
Email: sales@marketresearchfuture.com
Read More Related Article:
Comments
Post a Comment