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Chromium Salts Market Analysis Outlook By Size, Share, Growth, Trends And Forecast 2017-2027

Chromium Salts Market

Product Overview

Chromium is steel grey in color chemical element which has high melting point. Chromium a chemical element represented with the symbol Cr and is the first element of Group 6 in the modern periodic table. It is highly tarnish resistant. The element reacts with a number of other elements to form metal compounds. Chromium is derived from the Greek word ‘chroma’ which means color. The presence of color in the chromium enables its salts to be intensely colored. The chromium salt is extracted by removal of iron ore with the help of sodium carbonate and calcium oxide. Chromium salt is primarily found in the form of crystalline powder. Moreover, its solubility in water depends upon the oxidation sate, as the solubility property increases with the increased oxidation state of chromium salt.

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Market Size and Forecast

The global chromium salts market is anticipated to expand at a significant CAGR during 2017-2027. The market is anticipated to achieve substantial market by the end of 2027. It can be attributed to reason that rapid industrialization in the various developing economies, which is expected to foster market demand in the forecast period.

The global chromium salt market can be segmented based on application, type, and region. In term of application, the chromium salt market can be divided into metallurgy, dyes and pigments, wood preservatives, leather tanning, refractory material, and catalyst. The dyes and pigment segment comprises paints. The segment is expanding rapidly in emerging markets. This is projected to boost the chromium salt market in the near future. Metallurgy is used widely in automobile and mechanical industries. Chromium salt is extensively used in leather, fabric treatment process and metal. In terms of end-use industry, the chromium salt market can be sub-segmented into textile, automobile, leather paints, aerospace, steel, and tool manufacture. In the leather industry, 90% of leather tanning process is carried out with the help of chromium salt. There has been increasing demand for leather in the global market. This is expected to fuel the chromium salt market during the forecast period.

By region, global chromium salts market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Rise in demand for dyes and paints in Asia Pacific are driving the chromium salt market in these regions. The developing economics such as India and China are the most attractive markets for chromium salts on the account of rapid industrialization. Environmental norms and regulations on the account of these harmful properties of chromium salt such that it can affect the people, who are in close proximity with salt on routine basis, are deployed, especially in Europe and the U.S.A.

Market Segmentation

Our in-depth analysis segmented the global chromium salts market in the following segments:

By Type

Chromic Anhydride
Sodium Dichromate
By Application

Metallurgy
Dye & Pigments
Wood Preservatives
Tanning
Refractory Material
Catalyst
By End-Use industry

Textile
Automobile
Leather paints
Aerospace
Steel
Tool manufacture
By Region

Global chromium salts market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Drivers and Challenges

Most important factor that is driving the market for chromium salt is industrialization and infrastructural development in the emerging economies such as India, China and Brazil among others. The dye and pigment market includes the paint market which is increasing at a high pace which will augment the demand for chromium salts during the forecast period. The increase in demand of chromium salts from other applications such as metal treatment, leather treatment and water treatment, the demand of chromium salts is further increasing each year.

However, chromium salts also exhibit carcinogenic properties, which are guaranteed to affect people who work with this salt on a routine basis and hence proper safety gear is to be used while treatment such salts. There are various ecological rules and regulations on the account of these detrimental properties especially in Europe and North America. This is one of the major restraints in the chromium salt market.

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Key Players

Sun Chemicals
Bayer
BASF
Ciba Speciality Chemicals
Xinjiang Sing Horn Group
Oxkem
Hubei Zhenhua Chemical
Medural Group
MS Chemicals
Opera Chemisol

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