“Global Chromium Trioxide Market by Form, by Application, and by Region/Country (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Forecast from 2020 to 2029” is a recently created report at MarketResearch.biz. It is through in-depth research study, both primary and secondary, inputs from industry experts, as well as systematic segmentation of the market, that the research results and outcome have been presented in a systematic flow in the final report. The report presents the first five-year cumulative revenue (2020 – 2024), which is expected to be valued at around US$ 3.2 Billion, and this is projected to increase significantly over the latter part of the five-year forecast period.
Chromium trioxide (CrO3) is an excellent oxidizing agent and inorganic compound with strong solubility property in almost any organic solvent. Trade names of Chromium trioxide include chromic anhydride, Chromium-VI (Cr VI) Oxide, and chromic acid. Under anhydrous condition, CrO3 appears dark-purple compound, and when wet, it appears bright orange. This compound is ideally found in solid forms such as flakes, crystals, or powder. When heated, CrO3 releases toxic chromium fumes, and is dangerous if an individual gets in direct contact with it. If consumed, it can be harmful and can result in casualties, also leading to severe burns. Inhaling CrO3 results in respiratory irritation and allergic reactions. Chromium trioxide can intoxicate marine environment and aquatic animals, due to these concerns, adoption and application of chromium trioxide is bound to stringent regulations, which includes the Directive 2004 /37 /EC.
Browse the full “Global Chromium Trioxide Market by Form, by Application, and by Region/Country (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Forecast from 2020 to 2029” report at https://marketresearch.biz/report/chromium-trioxide-market/
Global Chromium Trioxide Market: Dynamics
Chromium trioxide mainly used in alloys such as stainless steel, in chrome plating and metal ceramics. Chromium plating is widely used to give steel a polished silver mirror coating. It is used in metallurgy to impart corrosion resistance and a shiny finish
The global automotive industry is currently witnessing significant growth, especially in developed countries in regions such as North America and Europe. However, markets in developing countries in Asia Pacific are expected to register high revenue growth rates in the coming years, and this is attributed to increasing disposable income among consumers in countries in the region. This is among major factors estimated to drive growth of the global chromium trioxide market to a significant extent.
- Chromium trioxide is a significant part of galvanic chrome plating on plastics, which is used extensively in automotive decorative trim, plastic plumbing and sanitary fittings, and white goods (appliance). Examples of automotive products affected are rearview mirror housings, grills, trim spears, door handles, dashboard trim, and others. For clean and white goods, it affects toilet handles, showerheads, certain faucets, as well as trim rings and control panels for dryers, washers, stovetops, and others
According to REACH (Registration, Evaluation, Authorization and Restriction of Chemicals), chromium trioxide is a Substance of Very High Concern (SVHC) due to its mutagenic and carcinogenic properties. In addition, adoption of Cr VI, particularly in electronics, has already been banned in European Union via RoHS (Restriction of Hazardous Substances). This is a major factor that could hamper market growth to significant extent.
Global Chromium Trioxide Market: Segmental Snapshot
The global market report is segmented on basis of form, application, and region/ country. The form segments include pellets, sputtering targets, powder and Nano-powder, and solvent. The application segments include metal finishing & chrome plating, chemical products manufacturing, wood preservation products manufacturing, and others. The regions covered in the analysis include North America, Europe, Asia Pacific, South America, and Middle East & Africa.
By Form: The pellets segment is projected to register highest CAGR of over 1.1% over the 10-year forecast period
By Application: The metal finishing & chrome plating segment is expected to register highest CAGR of over 1.2%, followed by the chemical products manufacturing segment
By Region: The Asia Pacific market is expected to register higher CAGR as compared to other regional markets, followed by the North America market in terms of growth rate
Competitive Analysis: Global Chromium Trioxide Market
The research report on the global chromium trioxide market include profiles of some of major players such as Merck KGaA, Soda Sanayii A.S., Thermo Fisher Scientific, Inc., Seidler Chemical Co., Inc., Novotroitsk Plant of Chromium Compounds, Biopharm Inc., American Elements Corporation, Loba Chemie Pvt. Ltd., Del Amo Chemical Company Inc., and Sisco Research Laboratories Pvt. Ltd.
“Global Chromium Trioxide Market: Insights, Market Size & Share, Growth Rate, Ongoing Trends, and Market Forecast: 2020–2029” report has been produced based on deep market study and analysis, along with inputs from experts in the industry. The report includes present scenario and growth prospects of the market for 2019–2029.
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