Chromium is a lustrous
steel-colored brittle but hard chemical. It exhibits high gloss, high melting
point, excellent resistance to corrosion and is highly resistant to tarnishing.
Chromium can combine with other metals to form a number of metal compounds. For
instance, ferrochromium and chromium metal are produced by the aluminothermic
or silicothermic reactions. Chromium is used in a wide range of applications
including metallurgy, dye and pigment, wood preservation, tanning, refractory
material, catalysts and magnets among others. Majority of chromium is converted
into ferrochromium alloys, due to its high demand in stainless steel and alloy
industries.
Rapid industrialization in emerging economies such as China, Brazil and
India is expected to be one of the primary factors driving the demand for
chromium in various industrial activities and processes over the next few
years. In addition, the growing demand for stainless steel in various
applications such as household goods, consumer goods and electronics due to its
light weight, glossy luster and high resistance to corrosion, is expected to
augment the demand for chromium over the next six years. However, the
fluctuating cost of chromium and the increasing costs of mining are expected to
hamper the growth of the market. Rising demand for chromium in BRICS is
expected to open new opportunities for the growth of the market in the near
future.
South Africa, Kazakhstan and India are the leading producers of chromium
and supply over three fourth of the world’s demand. Rising industrial
activities in Asia Pacific is expected to drive the demand for chromium in this
region and is expected to be the fastest growing market in the forecast period.
Other developing regions such as South America and Africa are expected to
witness a substantial growth in the chromium market over the next few years.
Some of the key participants of the global chromium market include
Norilsk Nickel, Cia De Ferro Ligas Da Bahia, Aquarius Platinum, African Rainbow
Minerals, Assore, Lonmin, Anglo American Platinum, Merafe Resources and
GlencoreXstrata among others.
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and Materials Market: http://www.transparencymarketresearch.com/chemical-market-reports-2.html
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- Asia Pacific
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- Rest of the World
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Download PDF: Global Chromium Market
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