Chromic oxide Market: Overview
Chromic oxide (Cr2O3), also known as chromium sesquioxide or chromia, is obtained in the form of green powder by thermal decomposition of chromium compounds or by reduction of sodium dichromate or sodium chromate. It is used as a permanent pigment chrome oxide green; coloring agent for several applications such as glass and ceramic ware; and as catalyst. It is one of the four oxides of chromium and commonly called chrome green.
Chromic oxide Market: Trends & Developments
Demand for chromic oxide has been increasing due to the rise in consumption of chromic oxide in various industries such as paints & coating and ceramics. Additionally, the extensive usage in Asia Pacific due to the growth of construction activities is fueling the chromic oxide market. However, chromic oxide can cause skin allergy, burning, and other health hazards. This is hampering its usage in paints & coatings application. Nevertheless, chromic oxide is used on ceramics to protect them from extreme heat and breakdowns. This is likely to create lucrative opportunities for the market in the next few years.
Chromic Oxide Market: Segmentation
The global chromic oxide market can be segmented based on derivatives, application, and region.
In terms of product, global chromic oxide market can be classified into pigment grade, metallurgical grade, refractory grade, and others. Pigment grade chromic oxide is used in the paints industry. Green chrome oxide is used as a pigment for paints. It is extensively used in industrial paints. For instance, military vehicles are painted with green chrome oxide paint. Chromic oxide helps maintain color in high heat and light exposure. Chrome oxide is ideal for outdoor applications due to its high sustainability against heat and light exposure.
Based on application, the chromic oxide market can be divided into paints & coatings, ceramics, rubber, metallurgy, and others. Chrome oxide is widely used in industrial paints, and outside paints application which is highly imposed in light, and heat due to its high resistivity against heat. Additionally, it is used for coating glasses and inks due to its stability, opacity, and high value performance. Chrome oxide is used in metallurgy applications, as it is not affected by acid, alkalis, and solvents. Moreover, due to their attributes of having excellent durability against harsh environment condition propel the usage in various paints & coatings applications.
Chromic Oxide Market: Regional Outlook
Based on region, the global chromic oxide market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to be the dominant region of the global chromic oxide market in terms of consumption and production in the near future. The market in Asia Pacific has been expanding due to the growth of chemical production, and infrastructure and construction in China, India. This is turns, propel the demand for chromic oxide. Furthermore, the growth of military vehicles and usage of green pigments to paint them is expected to boost the market in India. The chromic oxide market in Middle East & Africa and Latin America is projected to expand at a moderate pace in the near future.
Global Chromic oxide Market: Key Players
Key players operating in the global chromic oxide market are Elementis, Hunter Chemical, Sun Chemical, Huntsman (Venator), Lanxess, Harold Scholz, Hebei Chromate Chemical, Luoyang Zhengjie, and Jirong Chemical.