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Rising demand for chromium powder from the alloy industry is estimated to stimulate market growth.

NEW YORK CITY, NEW YORK, UNITED STATES, September 15, 2022 /EINPresswire.com/ -- The global chromium powder market is expected to reach USD 77.1 Million by 2028, according to a new report by Reports and Data. Chromium powder is a crucial constituent in many industrial materials owing to its unique features. Some of the applications comprise stainless steel, aluminum alloys, and electronics. It is also a necessary element in many super alloys, which are essential to the aerospace and nuclear power industries. Of late, chromium ion plating has become an environmentally sound alternative to traditional chromium plating methods.

Additionally, chromium powder finds application where high surface areas are preferred like water treatment and in solar and fuel cells applications.

High-grade stainless steels, having chromium as a vital constituent, are critical to the safe and environmentally sound operation of chemical plants, food processing operations, nuclear power generation facilities, and other important industries. Chromium is used to harden steel, for the production of stainless steel and several useful alloys. Depending on the class of stainless steel, the chromium content varies from 10% to 27% to improve the hardness as well as resistance to oxidation. It is also employed to impart an emerald green color to the glass.

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Key participants include: The Good Scents Company, ECSA Chemicals, Beijing LYS Chemicals Co., Ltd., BASF SE, DSM, Fleur-Chem, Inc., Elan Chemical Company, Ascent Finechem Private Limited, Gujarat Alkalies and Chemicals, and Neshiel Chemical, among others.

Further key findings from the report suggest

9% to <99.99% chromium powder held a considerable market size in 2020 and is projected to grow at a rate of 1.8% in the forecast period owing to the requirement in sputter targets where the purity must be more than 99.9%. Powders produced of refined electrolytic chromium are generally used in manufacturing. Application in metallurgy contributed to the largest market share in 2020 and is likely to maintain its dominance throughout the forecast period. This is attributed to the increased production of stainless steel and high resistance steel. Consumer-oriented chromium powder is also used in the following applications - paints and pigments, metal plating and finishing solutions, leather tanning liquors, corrosion inhibitors, catalysts, wood preservatives, drilling muds, textile mordant and dyes. The Asia Pacific held the largest market share in 2020 and is expected to grow at a rate of 2.3% in the forecast period. Electronics application segment is anticipated to grow at a considerable rate in the forecast period attributed to improved lifestyles and increase in the level of disposable incomes of people in Asia pacific region in both developed and developing countries. Key participants include Delachaux Group, Exo Tech, AMG Advanced Metallurgical Group N.V., Hascor International Group, Bell Group, ESPI Metals, Industrial Metallurgical Holding, Kohsei Co. Ltd., MidUral Group, Gfe, TRITRUST Industrial, and Jayesh Group among others.

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Purity Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

<99% Chromium Powder 99% to <99.9% Chromium Powder 9% to <99.99% Chromium Powder 99% to 99.999% Chromium Powder Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)

Aerospace Metallurgy Refractory Chemical Electronics Others

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Key Questions answered by the Report:

What is the expected year-on-year growth of the Chromium Powder during the forecast period? What key trends are expected influence revenue growth of the market going ahead? Which region is expected to account for largest revenue share over the forecast period? Which key companies are profiled in the report?

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors

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