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Chromium Oxide Market Size

Report ID: GMI4090
Published Date: Aug 2023
Report Format: PDF

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Chromium Oxide Market Size

Chromium Oxide Market size was valued at around USD 544.1 million in 2022 and is anticipated to grow at a CAGR of 4.6% between 2023 and 2032. Chromium oxide's resistance to high temperatures makes it a valuable pigment in ceramics, glass, and enamels. The distinct and durable green color produced by chromium oxide pigments makes them desirable for various artistic and industrial applications.

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Chromium oxide's corrosion-resistant properties make it suitable for protective coatings in industries such as automotive, aerospace, and marine. Coatings containing chromium oxide are known for their durability and ability to withstand harsh environmental conditions.

Chromium Oxide Market Report Attributes
Report Attribute	Details
Base Year:	2022
Chromium Oxide Market Size in 2022:	USD 544.1 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	4.6%
2032 Value Projection:	USD 852.7 Million
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Type, Form, Application, Region
Growth Drivers:	Growing mining and metallurgy industry Growing ceramics industry Growing coatings and paints industry
Pitfalls & Challenges:	Environmental and Health Concerns Raw Material Availability Price Volatility

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Hexavalent chromium compounds, including chromium oxide, can pose environmental and health risks. Chromium, the primary raw material for chromium oxide production, is sourced from limited geographical locations. The price of chromium, a key raw material, can be subject to volatility due to global market dynamics, supply-demand imbalances, and geopolitical factors. Thus, the risks associated with Chromium oxide may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for chromium oxide was worth around USD 544.1 million in 2022 and is estimated to reach USD 852.7 million by 2032, driven by the increasing application of chromium oxide in industries such as automotive, aerospace, and marine due to its corrosion-resistant properties which make it suitable for protective coatings.

The chromium oxide industry from the pigment grade segment generated USD 206.2 million in 2022 and is projected to grow at a notable CAGR from 2023-2032 owing to the increasing preference for the intense and durable green color for pigments and colorants in ceramics, glass, and paints.

U.S. chromium oxide held a revenue share of USD 110.5 million in 2022 and is anticipated to expand significantly owing to the increasing product application for automotive and aerospace sectors for corrosion protection and aesthetic finishes.

Some of the top companies operating in the chromium oxide includes Lanxess AG, Hunter Chemical LLC, Elementis plc, Sibelco, Sachtleben Chemie GmbH, Sisecam Group, Midural Group, Hunter Chemical LLC, American Elements, Hunan Sunward Industrial Co., Ltd., Goodfellow Corporation, Shanghai Jiuling Chemical Co., Ltd., Bayer MaterialScience, Elementis Specialties, Tronox Limited among others.