Chromium Oxide Market size is expected to grow steadily during the forecast time span. Chromium oxide is an inorganic compound and widely used as pigment in many applications. It is primarily available in the powered form but other forms such as pellets, pieces, nanopowder, etc. are also present in the market. The product is mainly used in the formulation of paint, coatings, glass, inks, ceramics, and can be used as functional catalysts. It offers excellent dispersibility, good weather fastness and superior heat stability.
The chromium oxide market will be driven by increasing applications from glass industry. In glass manufacturing, addition of this oxide provides green color to the glass. However, by varying concentration levels, intensity of color can be changed. The bottles manufactured by green glass are used for juice and wines. Chromium oxide aids in preserving the wine’s flavor. The production of glass bottles is increasing owing to higher consumptions of beverages all over the world. The global wine production and consumption has been increased over the past few years. According to International Organisation of Vine and Wine (OIV), the global wine production and consumption increased by 13% and 1.7% respectively from 2017 to 2018. These trends will drive the glass bottle manufacturing in upcoming years thereby facilitating the market growth.
Chromium oxide is used as a colorant in ink manufacturing. Increasing demand from packaging and printing industry is likely to fuel the growth of ink market. As packaging is essential in food & beverage, general manufacturing, consumer goods, etc and this will create positive outlook for the ink market in future. Additionally, favorable trends associated with print media such as newspapers, books, magazines, etc. will assist the growth of ink market. The aforementioned trends associated with ink market will bolster the demand of chromium oxide during the forecast time span.
The product is used as a pigment for industrial paint and coating manufacturing which are suitable for outdoor applications. It offers excellent wear resistance and helps in retaining the color from exposure of heat and light. The demand of industrial paint and coatings will remain solid in future due to increasing applications in construction, automotive, equipment manufacturing, consumer durables, etc. Rapid urbanization, increasing incomes of middle class and infrastructure development projects will spur the growth of paints and coatings market. This in turn will trigger the demand of chromium oxide within the forecast period.
The chromium oxide market may be affected by its toxicological content and adverse effect on human health. High exposure to the product can cause irritation to eyes and skin, dry skin, skin redness and respiratory discomfort. Proper safety measures and body protection equipment should be used while application of the product.
The global chromium oxide market is segmented on the basis of form, grade and application. Based on form, the market is divided into powder, pellets, pieces and others. Based on grade, the market is classified into pigment grade, refractory grade, metallurgy grade, abrasive grade and others. Based on application, the market is classified into glass, inks, paints and coatings and others.
Asia Pacific region will capture significant market share in chromium oxide market between 2019 to 2025. Rising residential, commercial and infrastructure construction activities along with high automotive production will facilitate the growth of paint and coatings industry. This in turn will spur the market growth within this region. North America and Europe will witness steady growth rates in chromium oxide market owing to large scale applications in ink and glass manufacturing. Increasing packaged food and beverage consumption in both of these regions will upscale the demand of product as it is widely used in food packaging and glass bottle manufacturing.
Some of the key players in chromium oxide market are Venator Materials LLC, Sun Chemical Corporation, Elementis plc, Hebei Chromate Chemical Co. Ltd., MidUral Group, LANXESS Aktiengesellschaft, American Elements Corp., Reade International Corp., Sichuan Yinhe Chemical Co., Ltd., Zhonglan Yima Chromic Chemical Co., Ltd., Luoyang Zhengjie Science & Technology Industry Trade Co., Ltd., Hunter Chemical LLC, Vishnu Chemicals Limited and others.
Chromium Oxide Market, By Form, 2014-2025 (USD xx)
Chromium Oxide Market, By Grade, 2014-2025 (USD xx)
Chromium Oxide Market, By Application, 2014-2025 (USD xx)
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