Growing demand for stainless steel is one of the key factors driving demand for chromium
Albany, NY -- (SBWIRE) -- 05/29/2018 -- A new research report titled "Chromium Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026" has been added to the vast research repository of Market Research Reports Search Engine (MRRSE). According to the research, the global chromium market is likely to grow at a moderate CAGR of 3.4% during the assessment period 2017-2026. In terms of revenues, the market is likely to witness moderate growth and reach nearly US$ 18 Bn in revenues.
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The research report sheds light on the key factors that are likely to influence the market over the course of the assessment period. According to the report, growing demand for stainless steel is one of the key factors driving demand for chromium. The demand for chromium is linked to broader developments in the steel market, which in turn, is likely to provide an impetus to growth during the assessment period.
The report has analyzed the chromium market on the basis of its applications in various end-use industries. The market has been analyzed on the basis of metallurgical grade, refractory and foundry grade, and chemical intermediary grade. The report also offers analysis on stainless steel production, alloyed steel production, non-ferrous alloy production, and refractory additives. These factors are likely to provide an impetus to the growth of the market during the assessment period.
The research study also offers analysis on the basis of region. The key markets covered in the research study include North America, Latin America, Europe, Japan, APEJ, and MEA. According to the research study, Asia Pacific will continue to hold the pole position in the chromium market during the forecast period. The strength of the steel industry in China and India will continue to create lucrative growth opportunities for chromium market players during the assessment period.
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Although the outlook on the chromium market is positive, concerns about the potential health impact of chromium and increasing spate of regulations are likely to create challenges for widespread adoption. Exposure to chromium has been linked to respiratory diseases and can cause a range of ailments in humans. Governments are aware of these threats and there is strong regulation on the use of chromium in end-use industries.
The research study also offers a detailed analysis on the competitive landscape in the market. According to the research study, some of the leading players in the chromium market are Toshiba Medical Systems Corporation, Samancor Chrome, Odisha Mining Corporation, MVC Holdings LLC, Xinapse Systems Ltd., Kermas Group Ltd., and International Ferro Metals.
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