Global Chromium Carbide Market: Snapshot

Chromium carbide refers to a ceramic compound that is a solid grey colored material. It is gaining traction across various industries owing its many properties. The global chromium carbide market is predicted to demonstrate upward sales curve during the forecast period of 2020 to 2030. This growth is attributed to increased use of chromium carbide in numerous end-use applications.

An upcoming research report by Transparency Market Research gives 360-degree analysis on the chromium carbide market for the forecast period 2020–2030. The study offers analysis on many important aspects including opportunities, drivers, restraints, and challenges in this market. Apart from this, the assessment sheds light on supply chain analysis and competitive landscape of the market for chromium carbide during assessment period.

Product, region, and application are some of the key parameters considered while performing in-depth study of the global chromium carbide market. Based on product, the market for chromium carbide is classified into Cr3C2, Cr7C3, and Cr23C6.

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Global Chromium Carbide Market: Growth Dynamics

The global chromium carbide market is estimated to grow at prodigious pace during forthcoming years. One of the important factors driving market demand is increased use of chromium carbide in various end-use applications such as hot crushing rolls, fuel rod mandrels, turbine exhaust struts, forging tools, and hot forming dies. In addition to this, chromium carbide finds application in coating bearings, seals, valve seals, and orifices.

In recent years, numerous developing countries across the globe are focused on their infrastructure development. As a result, there is remarkable growth in construction activities. This factor is generating demand opportunities in the global chromium carbide market. In addition to this, the market for chromium carbide is estimated to gather prominent sales opportunities due to increased power and oil and gas activities around the world.

In mining industry, chromium carbide is widely used for making chromium carbide overlay plates, which are widely used in hoppers, truck beds, dozer blades, dragline buckets, and shovel buckets and excavator liners. This scenario shows that the global chromium carbide market is likely to gain promising demand avenues from mining industry across the globe.

Global Chromium Carbide Market: Competitive Analysis

Owing to existence of many active players, the competitive landscape of the chromium carbide market seems to be highly intense. To maintain leading market position, several vendors in the market for chromium carbide are utilizing numerous strategic moves such as mergers and acquisitions.  A case in point here is recent announcement by Oerlikon Metco. The firm stated that it has signed an acquisition deal for of AMT AG in Kleindöttingen. With this strategic move, the firm aims to advance its surface solution technologies. This strategy is likely to help in the expansion of the global chromium carbide market during 2020–2030.

The list of key players in the global chromium carbide market includes:

  • SAS Global Corporation
  • Oerlikon Metco
  • ZhuZhou GuangYuan Cemented Material
  • Sumitomo
  • The Reade
  • Praxair Surface Technologies
  • Changsha Langfeng
  • HAI

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Global Chromium Carbide Market: Regional Assessment

On regional front, the global chromium carbide market shows existence in many regions including Europe, USA, China, Japan, South East Asia, and India. Of all regions, China is one of the lucrative regions of the market for chromium carbide. Some of the key factors attributed to increase in market demand include noteworthy growth in various industrial sectors such energy, mining, cement, and steel. In addition to this, the China chromium carbide market is estimated to grow at decent pace on the back of rapid infrastructure development in the region.

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Chromium Carbide Market