By 2031, the global chromium oxide market is expected to exceed 64954 million US dollars, with a compound annual growth rate(GAGR) of 4.0% during the forecast period (2023-2031).
The Asia Pacific has the highest market share at 36.30%, with $167.02 million in 2022 and $172.83 million in 2023. It is expected to reach $236.56 million by 2031. In addition, in the Asia Pacific region, China had the highest market share in the benchmark year of 2022, at 28.55%.
By type, the pigment grade segment market has the highest share contribution in the 2022 chromium oxide market statistics.
According to application classification, the coatings and paint departments have the highest proportion in the 2022 chromium oxide market statistics, accounting for 36.27%.
Due to major players in the market and rapid technological progressions in the region, North America is expected to increase its demand for chromium oxide.
Emphasis is placed on the growing demand for chromium oxide pigments and coatings, driving global market growth.
Chromium Oxide is an inorganic compound mainly used as the basic raw material for chromium compounds such as chromic anhydride, dichromate, chromium oxide green, and chromium hydroxide. It also has unique physical and chemical properties and is widely used in optics, magnetism, electronic devices, catalysts, and coatings.
Due to its excellent optical performance, ability to absorb visible and near-ultraviolet light, high absorbance, and large light absorption cross-sectional area is widely used in optical devices, filters, optical lenses, and other optical fields.
Due to the spin of chromium ions, they have a certain degree of magnetism. This feature enables Chromium Oxide to have applications in the field of magnetism, such as magnetic recording materials, magnetic fluids, magnetic sensors, etc.
In the field of electronic devices
Due to its high conductivity and semiconductor properties, Chromium Oxide is widely used in electronic and photoelectron devices, such as field-effect transistors, solar cells, etc.
Chromium Oxide can be used as a catalyst for many chemical reactions, such as burning alcohols, ethers, acids, etc.
Chromium oxide can be an important component of ceramic and metal coatings, as it has excellent oxidation resistance, corrosion resistance, and high-temperature resistance, which can improve the useful life and performance of materials.
Chromium oxide supplier
Luoyang Tongrun Nano Technology Co. Ltd. (TRUNNANO) Luoyang City, Henan Province, China, is a reliable and high-quality global chemical material supplier and manufacturer. It has more than 12 years of experience providing ultra-high quality chemicals and nanotechnology materials, including molybdenum Silicide, nitride powder, graphite powder, sulfide powder, and 3D printing powder. If you are looking for high-quality and cost-effective Chromium oxide, you are welcome to contact us or inquire at any time.