Chromium Oxide Market Analysis

Chromium Oxide Market Analysis

Based on type, the chromium oxide market is segmented as pigment grade, metallurgical grade, refractory grade, other industrial grades. Pigment Grade held a majority market value of USD 206.2 million in 2022. The intense and durable green color produced by green chromium oxide makes it a preferred choice for pigments and colorants in ceramics, glass, and paints. The green color imparted by green chromium oxide is used in the glass industry for creating colored glassware, decorative glass, and stained glass.
 

Based on form, the chromium oxide market is segmented as powder, dispersion, paste. Powder held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace through 2032. Chromium oxide powder can be easily mixed to achieve consistent and vibrant colors in pigments and colorants for ceramics, paints, and coatings.
 

Based on application, the chromium oxide market is segmented as pigments and colorants, metallurgy, ceramics, coatings and paints, abrasives, others. Pigments and Colorants held a dominant market share in 2022 and is anticipated to grow at 4.5% CAGR between 2023 and 2032. The intense green color produced by chromium oxide pigments is a key driver in industries such as ceramics, paints, and coatings where rich and lasting colors are desired. Thus, the high-quality services and growing usage of chromium oxide are anticipated to expedite the business growth.
 

U.S. dominated the North American region with majority market share and a revenue of USD 110.5 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. The automotive and aerospace sectors utilize chromium oxide coatings for corrosion protection and aesthetic finishes, driven by the demand for durable and visually appealing products. Thus, the above-mentioned variables would augment the chromium oxide business growth in the North America positively.