Chromium is a brittle, lustrous and hard metal found in the earth’s crust. It has a silver gray texture which does not discolor on exposure to air and forms green chromic oxide when heated. Chromium is unstable with oxygen and on exposure, instantly produces a fine oxide layer that is impermeable to oxygen thus protecting the metal. Chromium is commercially extracted from the commonly found ore, Chromite, which is an iron chromium oxide (FeCr2O4). It is also the main source of chromium for chromium pigments. Chromium ores are majorly found in Zimbabwe, South Africa, India, Kazakhstan, Finland and the Philippines. Huge reserves of chromium ore have been extracted and net reserves still untapped are estimated to be nearly 1 billion tones, with a majority of them located in Canada, Greenland and the U.S.
 
Chromium metal is of high value, primarily due to its high resistance to corrosion and hardness properties. Chromium alloys are widely used in stainless steel, metal ceramics and for chrome plating. Chromium plating was considered to give steel a glossy silver mirror coating. It is also utilized in metallurgical processes to make it corrosion resistance and also provide a shiny finish. Chromium may also be used as a catalyst for producing synthetic rubber. Chromium (IV) oxide (CrO2) is used to manufacture magnetic tapes.
 
Chromite deposits are typically extracted through underground and surface mining techniques. Surface techniques are usually used first to mine chromite ore. The process includes an open pit, from which the non chromite bearing surface materials and chromite ores are generally extracted. Rocks containing chromite ore are blasted, drilled, removed and loaded into large trucks for carrying to the crusher and other ore processing facilities. Underground mining is typically carried out to extract rocks from greater depths. The underground mine is reached through the bottom of an open pit. 
 
Blasthole stoping techniques are generally utilized for carrying out underground mining. Stoping process only occurs in underground mineral mining where the surrounding rock is hard enough to permit the extraction process. High concentration of the ore is rich enough to be used directly for the production of ferrochromium, a rich and a lumpy ore containing a very high percentage of Cr2O3. Finely divided ores that do not smelt efficiently are exploitation the most, as a number of processes are employed to refine them for more adequate use in the furnaces. Fines are blended with coke and flux before being operated into an electric furnace.
 
Some of the key drivers of the chromium mining market are increasing investments, rapid industrialization and developing economies. However, diminishing ore grades can hinder the market’s growth. Some of the key players in chromium mining market are Cliffs Natural Resources Inc, CVK Group Company, KWG Resources Inc, DEV Mining Company, African Rainbow Minerals Ltd, Merafe Resources Ltd, Anglo Platinum Ltd, XStrata Plc, Outokompu OYJ, Aquarius Platinum Ltd and AFARAK Group PLC among others.

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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Chromium Mining Market

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