and Dying Applications Fueling the Growth of Chromium Salts Market

Global Chromium Salt Market: Demand Analysis and Growth Forecast

Chromium is a grey colored metal represented by the symbol Cr. This metal originates from the chromite ore which is extracted from the Earth’s crust and possesses traits such as high melting point, resistant to corrosion, lustrous, and hard. This element can be combined with many metals to form different compounds.

This element is used to form a variety of compounds, with each compound reflecting its own characteristics and thereby applications. The main areas where these are used is metallurgy, pigments, dyes, refractory material, wood preservatives, and tanning. Having reviewed all factors, a recent IndustryARC market research report has projected profitable progression in the global chromium salt market during the forecast period of 2018 to 2023.

Chromium Salt Market: Key Drivers and Disruptive Trends

·         Rapid industrialization in prominent emerging economies such as India, China, and Brazil.

·         The dying market is fueling the chromium salts market because of its widely favored application in the paint industry.

·         The demands of chromium salts from the metal and leather treatment industries is increasing annually.

·         Chromium salts reveal carcinogenic properties, which affects the people who are exposed to these salts for a prolonged period of time. This is a restraint that needs to be overcome by the players in order to increment profits.

Chromium Salt Market: Leading Segments

Application-wise, the chromium salts market can be classified into metallurgy, dyes, pigments, leather tanning, wood preservatives, and catalyst and refractory material. In terms of end-user industry, this market can be sub-divided into the automobile, textile, leather, aerospace, and steel and tool manufacturing. Geographically, the IndustryARC report gauges the demand potential of all important regions including Asia Pacific, North America, and Europe, and the Middle East and Africa.

Global Chromium Salt Market: Competitive Landscape

Some of the key players operating in the global chromium salt market are BASF SE, Bayer AG, American Elements, Ciba Specialty Chemicals, Sigma-Aldrich and Oxfam Ltd. The mentioned companies are the biggest manufacturers of the chromium salts. The company Sigma-Aldrich headquartered in the U.S. is one of the largest suppliers of chromium salts.

Conclusion:

Chromium salts are one of the most important minerals available on earth. It has a wide range of application across the industries of metallurgy and paints. Over the course of the forecast period of 2018 to 2023, the IndustryARC report anticipates healthy growth in the global chromium salt market.