Chromium is steel grey colored chemical element with high melting point. This metal is highly recognized for its high corrosion resistance capability. Natural occurrence of chromium is rare and hence, most of its compounds are manufactured. Stainless steel, an alloy of steel and chromium is highly corrosion and discoloration resistance is one of the highly used metals accounting for nearly 85% of the commercial use. Owing to the increasing applications of chromium and its compounds, chromium salt market is expected to show tremendous growth in near future. Chromium salts are highly used in applications including pigment of textile, paints, inks, plastics, corrosion inhibitors, wood preservatives, metal finishing, chrome plating and leather tanning.
The report offers in depth analysis of chromium salt market with respect of its compounds including Chromium (0), Chromium (I), Chromium (II), Chromium (III), Chromium (VI), Chromium (V & IV). Each compound has its own characteristics and applications. The major industrial applications with huge market scope such as metallurgy, dye & pigments, wood preservatives, tanning, refractory material, and catalyst are identified and analyzed in the report.
The report provides precise and comprehensive insights on the market trends and dynamics that are shaping this dynamic industry. The major factor driving the chromium salt market is the rapidly growing dye & paint market in the regions of Asia-Pacific and the Middle East. However, as most of the chromium compounds are toxic and carcinogenic, stringent rules and regulations are imposed by government of nations across the world which is the major inhibitor for this market. The report identifies several macro and micro factor in the chromium salt industry and their impact on the market. Moreover, the industry attractiveness section offers the significance of the competitive rivalry in the market affected by the forces such as power of supplier, power of buyer, threat of new entrant and threat of substitution. The report also has a strong emphasis on product pricing analysis, value chain analysis, product life cycle and opportunity analysis in this market. Major revenue generating opportunities are also mapped in the report which gives detailed information on different opportunistic applications and geographies in this market.
Regional analysis section in the report includes the market revenue analysis for major geographies of North America, Europe, Asia-Pacific and Latin America. Emerging economies like India, Sweden and China are the most favorable markets for chromium salt, as majority is demand is coming from these countries. Moreover, the paint and dye industry is flourishing in major countries of the Middle East and European region, which is indirectly increasing the interest of chromium salt manufacturers in these regions.
The report gives detailed insights on the competitiveness of the market. The report tracks the key business strategies and developments adopted by the key vendors in this market. Market share analysis of these vendors is also provided under the market entropy section.
Some of the major manufacturers that are profiled in the report include :
- Bayers AG
- American Elements
- BASF SE
- Ciba Speciality Chemicals
- Chemetall GmbH