Global Chromium Market Size By Application, By Geographic Scope And Forecast
Chromium Market Size And Forecast
Chromium Market was valued at USD 14.15 Billion in 2019 and is projected to reach USD 17.37 Billion by 2027, growing at a CAGR of 2.6% from 2020 to 2027.
Global Chromium Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Worldwide, the consumption of chromium as an alloy for stainless steel is rising. An increase in the demand from the steel industry has led to drive the market for chromium during the forecasted period. Chromium has a wide range of applications in various industries such as the automobile industry, defense, aerospace, building & construction, marine, and electronics. Also, a strong increase in corrosion resistance made chromium an important alloying material for end-use. However, the fluctuating price of raw material might hamper the chromium market up to a certain extent.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The Global Chromium Market is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global Chromium Market Competitive Landscape
The Global Chromium Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Glencore PLC, Kermas Group Ltd., Assmang Proprietary Limited, Samancor Chrome, Odisha Mining Corporation, Hernic Ferrochrome (Pty) Ltd., Al Tamman Indsil FerroChrome LLC, CVK Group, MVC Holdings LLC, and Gulf Mining Group LLC.
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