Chromium

Global Chromium Market to Reach US$20.3 Billion by 2030

The global market for Chromium estimated at US$16.2 Billion in the year 2024, is expected to reach US$20.3 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2024-2030. Metallurgy, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$13.2 Billion by the end of the analysis period. Growth in the Chemicals segment is estimated at 3.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.3 Billion While China is Forecast to Grow at 5.5% CAGR

The Chromium market in the U.S. is estimated at US$4.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2030 trailing a CAGR of 5.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

Chromium  - Key Trends and Drivers

Chromium is a shiny, brittle metallic element that is highly resistant to tarnish and has a high melting point. It is mainly used in the metallurgy industry to manufacture stainless steel and other alloys where it contributes to corrosion resistance, hardness, and durability. Additionally, chromium compounds are used in the dye and pigment industry, leather tanning, and wood preserving. It is also a critical element in the manufacturing of superalloys that can withstand high temperatures and are used in jet engines and turbines. Expanding global construction and automotive industries represent a key growth dricer for chromium consumption. These sectors heavily rely on stainless steel, where chromium serves as a critical ingredient that imparts anti-corrosive properties and enhances the strength of the steel. As urbanization and economic development accelerate, especially in emerging economies, the demand for new infrastructure and vehicles is increasing, thereby boosting the demand for stainless steel and subsequently chromium. Additionally, the rising standards of living and increasing consumer spending power are contributing to a surge in demand for products that include chromium-based materials.

Another significant trend in the chromium market is the technological advancements in production and processing techniques. Innovations that reduce the environmental impact of chromium mining and increase the efficiency of metal processing are particularly influential. For instance, the development of less energy-intensive, lower-emission production methods is making chromium production more sustainable and economically viable. Furthermore, there is a growing emphasis on recycling chromium from post-consumer scrap, which not only reduces the environmental footprint but also helps in coping with the fluctuating prices and supply constraints of raw chromium.

Moreover, the stringent environmental regulations being implemented worldwide are impacting the chromium market. These regulations are pushing industries to adopt more environmentally friendly practices and technologies, which in turn is influencing the market dynamics of chromium. Companies are increasingly investing in research and development to find safer methods of extracting and processing chromium to meet both the regulatory requirements and the growing demand for high-quality, durable, and sustainable materials. As these trends continue to evolve, they are expected to shape the future trajectory of the chromium industry, making it more aligned with global sustainability and safety standards.

SCOPE OF STUDY:

The report analyzes the Chromium market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Metallurgy, Chemicals, Refractory, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 22 Featured) -

• Al Tamman Indsil FerroChrome L.L.C
• Assmang Proprietary Limited
• CVK Group
• Glencore International AG
• Gulf Mining Group LLC
• Odisha Mining Corporation Ltd. (OMC)
• Samancor Chrome

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.