Chromium is a compound, silvery metal with a blue tinge, a chemical element with Cr, and it is a lustrous and brittle and hard metal that possesses corrosion resistance properties, chromium undergoes polishing, it gains a gleaming surface to plate other metals to form an attractive and protective covering. According to BlueQuark Research & Consulting, the global chromium market is expected to witness growth at a considerable rate during the forecasted period. Factors such as the increasing use of chromium in steel metal for florid plating in the automotive sector have significantly increased in the global Chromium Market in the forecasted period. Further, chromium has numerous operations in colorful sectors similar to machine assiduity, defense, aerospace, erecting & construction, marine, and electronics which is expected to drive the demand of the Chromium market in the forecasted period. Furthermore, the rising usage of chromium alloying with other metals in automobiles, construction equipment, commercial and military aircraft engines is driving the Chromium market growth in the forecasted period. However, carcinogenic properties of chromium and changing price-cum-availability of raw materials would serve as hindering factors for the market. The element and its compounds also cause a variety of other irritations and breathing problems.

Chromium has an extensive range of applications in various industries such as the automobile industry, defense, aerospace, building & construction, marine, and electronics. Also, a substantial increase in corrosion resistance made chromium an essential alloying material for end-use. Chromium is used in several applications like metal ceramics, chrome plating, dyes, and paints in alloys and stainless steel. It is also directly worn in industrial & refractory sand and converted into sodium dichromate to recycle other chemicals.

The stainless steel industry's increasing demand for end-use markets such as automotive, defense, marine, building and construction, aerospace, and electronics is expected to be the key growth factor. The primary factor responsible for the global chromium market's growth would be increasing demand from countries like China, Japan, and India, accommodating many stainless steel plants. The majority of chromium's applications and hence need are in the metallurgical industry. Besides, rising demand for chromium in piston rods, piston rings, and decorative plating used in the manufacturing of vehicles is also propelling the global chromium market over the forecast period. Chromium has been growingly used in metallurgical processes to raise hardenability, resistance to corrosion, creep and impact strengths, oxidation to other metals for automobile applications. In stainless steel production, chromium is being used to harden steel and increase its corrosion resistance, including withstanding high temperatures used in construction equipment, heavy machinery, and fabricated metal products. Alloying Chromium in metallurgical processes with other metals can help make products useful in a commercial and military aircraft engine, including stainless steel tankers, acids, and bulk hopper trailers to haul fertilizers and hygroscopic materials. Global stainless steel manufacture largely relies on chromium supply. China, a prime producer of steel, produces and supplies a large quantity of stainless steel and exports it to various countries by importing Chromium from South Africa. 

The Asia-Pacific region is awaited to be the largest market for global chromium due to many end-user industries here. The development here is also likely to be faster than that in other areas for the same reason. While the steel and automotive industries are likely to dominate demand among the end-user industries, chemical industries requiring chromium also widen rapidly in this region and are likely to be a significant contributor. Chromium is a steel grey, hard, lustrous, and brittle transition metal used in alloys to surge strength and corrosion resistance. It has an elevated melting point and stable structure, owing to which it is used in textile and refractory industries. It is mainly found in chromite ore, mined in Russia, Zimbabwe, New Zealand, Iran, Albania, and Turkey. Moreover, as a base material in steel manufacturing, ferrochrome, an alloy of chromium and iron, is further augmenting the industry's growth. Stainless steel is durable, low-maintenance, and sustainable, leading to its wide use in the auto, railway, and transportation industry, hence propelling the market development for chromium. Chromium has excellent mechanical, high oxidative, high hardness, and corrosion resistance properties, and it is a crucial alloy product worn in the manufacture of high-strength steel. It has no replacement in stainless steel or any other superalloys, and in some metallurgical end uses, scrap can be used as an alternative to ferrochrome. Chromium has excellent mechanical, high oxidative, high hardness, and corrosion resistance properties, and it is a vital alloy product used in the manufacture of high-strength steel. It has no replacement in stainless steel or any other superalloys and in some metallurgical end uses, scrap can be used as an alternative to ferrochrome. Various technological advancements to enhance efficiency and increase production capacity in the producing process are also awaited to fuel the market growth in the forecast period, with the rise in technological development in the form of chromium chemical, primarily sodium chromate and sodium dichromate in leather tanning, textile mordants, and dyes. The chemical industry is remarkably expanding in the Asia Pacific region. Chromium is utilized as a catalyst in oxidation reactions, ethylene polymerization, and oligomerization catalysts used for industrial production of polyethylene and 1-hexene. These properties are predicted to drive the market for chromium through the years to come.

The global chromium market is quite consolidated. Major players in the market were Samancor Chrome, Assmang Proprietary Limited, CVK Group, Glencore, Odisha Mining Corporation, among others.

On April 3, 2019, Afarak announced that a share transfer of 49 percent of Synergy Africa Ltd at a nominal value of USD 49 would be agreed upon between Afarak and the Joint Venture partner. After this transaction, 100% of Synergy Africa Ltd will be held by Afarak, and the Joint Venture arrangement will be revoked.

Global Chromium Market report provides deep insights into the current and future state of the chromium market across various regions. The study comprehensively analyzes the chromium market by segmenting based on grade (Metallurgical Grade, Refractory and Foundry Grade, Chemical Intermediary Grade, and Others), application (Metallurgical, Chemical, Refractory, and Others), and geography(North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market's growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.