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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Chromic Oxide Market

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