Chromium Market Insights: Valued at US$ 14.93 Bn in 2021, Reaching US$ 18.47 Bn by 2030
Chromium Market was valued US$ 14.93 Bn in 2021 and is expected to reach 18.47 Bn by 2029, at a CAGR of 2.7% during the forecast period.
Chromium Market Overview:
The documented output of chromium in 2020 was thousand, which indicates a positive reaction to the market expansion. With a significant CAGR of 3.4%, Asia Pacific's market share was valued at $14.93 billion in 2021. The global market is anticipated to grow at a compound annual growth rate (CAGR) of 2.7% to reach 18.47 billion by 2029.
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Chromium Market Dynamics:
The worldwide chromium market is expanding due to advancements in technology and improving production processes in both developed and emerging nations.
Market Scope:
PESTEL and PORTER evaluations are included in the study, along with the potential impacts of market microeconomic variables. The examination of internal and external factors that may positively or negatively affect the company will give decision-makers a clear picture of the future of the industry.
Segmentation:
Metallurgical by Applications;
Grade; Chemical Intermediary;
Refractory and Foundry; Automotive;
Non-ferrous Alloy Production;
Stainless Steel Production; Alloyed Steel Production;
Refractory Additives; Chemical Sector;
Others
Key Players:
The research presents a competitive landscape through an in-depth examination of significant strategic developments undertaken by key market players in the chromium sector over time. The leading players in the global chromium market include:
The following companies are listed:
Williams and Company; Al Tamman Indsil FerroChrome LLC; Eurasian Natural Resource Corporation; Assmang Proprietary Limited; Hernic Ferrochrome (Pty) Ltd; Odisha Mining Corporation; International Ferro Metals; Gulf Mining Group LLC;
Samancor Chrome, Hickman, Chrometco, ENRC, POLEMA JSC, Glencore PLC, CVK Group, Ferbasa, and Kermas Group Ltd
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Regional Analysis:
The following regions are included in the report's evaluation of the global chromium market:
North America: (Canada, Mexico, and the United States)
Europe (including Austria, Sweden, Germany, Italy, Spain, UK, and France)
Asia Pacific includes Bangladesh, Pakistan, Taiwan, Malaysia, Vietnam, South Korea, Japan, India, Australia, Indonesia, and the rest of APAC.
Africa and the Middle East (South Africa, GCC, Egypt, Nigeria, and the Remainder of ME&A)
South America (including Argentina and Brazil)
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COVID-19 Impact Analysis on the Market:
The COVID-19 pandemic will have a significant influence on the market and is already causing notable effects throughout the world. The outbreak has caused several disruptions, including quarantines, travel restrictions, restaurant closures, limited outdoor and inside events, and flight cancellations. More than thirty countries have declared states of emergency.
Key Questions Answered in the Chromium Market Report:
What level of competition is there in the market for chromium?
What are the main drivers of the Chromium market's expansion?
Which area of the chromium market has the biggest share?
What will the chromium market's compound annual growth rate be between 2024 and 2030?
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