According to a new report by Reports and Data, the global market for chromium powder market is expected to reach USD 77.1 Million by 2028. Chromium powder is an essential component in various industrial materials due to its unique properties, with applications in stainless steel, aluminum alloys, electronics, and many other industries. It is also a crucial element in super alloys necessary for the aerospace and nuclear power sectors. Recently, chromium ion plating has emerged as an environmentally friendly alternative to traditional chromium plating methods.
Chromium powder is also used in applications where high surface areas are preferred, such as in water treatment, solar cells, and fuel cells. High-grade stainless steels with chromium as a vital component are critical to the safe and environmentally sound operation of chemical plants, food processing operations, nuclear power generation facilities, and other important industries. Chromium is also used to harden steel and produce stainless steel and various useful alloys.
However, the carcinogenic properties of chromium may hinder the growth of the market in the forecast period. The Occupational Safety and Health Administration (OSHA) has recommended an 8-hour time-weighted average (TWA) exposure limit of 5 micrograms of Cr (VI) per cubic meter of air, while the National Institute for Occupational Safety and Health (NIOSH) has suggested a 10-hour TWA exposure limit for all Cr (VI) compounds of 1µg Cr (VI)/m³. The established exposure limit for chromium metal and Cr (II) and Cr (III) compounds is 500 µg/m³ as a 10-hour TWA.
The report also highlights that powders produced of refined electrolytic chromium are typically used in manufacturing, while the application in metallurgy contributed to the largest market share in 2020 and is likely to maintain its dominance throughout the forecast period. The Asia Pacific held the largest market share in 2020 and is expected to grow at a rate of 2.3% in the forecast period. The electronics application segment is anticipated to grow at a considerable rate in the forecast period attributed to improved lifestyles and an increase in disposable incomes in both developed and developing countries in the Asia Pacific region.
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The key participants in the market include Delachaux Group, Exo Tech, AMG Advanced Metallurgical Group N.V., Hascor International Group, Bell Group, ESPI Metals, Industrial Metallurgical Holding, Kohsei Co. Ltd., MidUral Group, Gfe, TRITRUST Industrial, and Jayesh Group, among others.
The global chromium powder market has been segmented on the basis of purity, type, application, and region. The purity outlook includes 99% Chromium Powder, 99% to 99.9% Chromium Powder, 9% to 99.99% Chromium Powder, and 99% to 99.999% Chromium Powder. The type outlook includes Aluminothermic Chromium and Electrolytic Chromium. The application outlook includes Aerospace, Metallurgy, Refractory, Chemical, Electronics, and Others. The regional outlook includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Chromium Powder Market: Drive factors
The global chromium powder market is expected to experience significant growth in the forecast period, with a projected value of USD 77.1 Million by 2028. Chromium powder is an essential component in various industrial materials due to its unique properties. Its applications include use in stainless steel, aluminum alloys, and electronics. Additionally, chromium is necessary for many super alloys that are vital to the aerospace and nuclear power industries.
Chromium powder is also used in applications where high surface areas are preferred, such as in water treatment and solar and fuel cells. The production of high-grade stainless steel, which contains chromium as a vital component, is critical to the safe and environmentally sound operation of chemical plants, food processing operations, nuclear power generation facilities, and other important industries.
However, the carcinogenic properties of chromium can have adverse effects on human health, which may hinder the growth of the market in the forecast period. To address this issue, regulatory bodies like the Occupational Safety and Health Administration (OSHA) and the National Institute for Occupational Safety and Health (NIOSH) have recommended exposure limits for chromium compounds.
Despite these challenges, the market for chromium powder is projected to grow due to various factors, such as the increased production of stainless steel and high resistance steel, and the expanding electronics industry, especially in the Asia Pacific region. Key players in the market include Delachaux Group, Exo Tech, AMG Advanced Metallurgical Group N.V., and Hascor International Group, among others.
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