Global chromium salts market is anticipated to grow at a significant rate during the forecast period

The chromium compound has high melting point and it is grey in color. The global chromium salt market can be segmented based on application, type, and region. On the basis of application type, it is segmented into chromic anhydride and sodium dichromate. On the basis of application, it is segmented into metallurgy, dye & pigments, wood preservatives, tanning, refractory material and catalyst. The dye & pigment sub segment is anticipated to grow at the fastest rate on the account of rapid industrialization. On the basis of end-use, it is further sub segmented into textile, automobile, leather paints, aerospace, steel, and tool manufacture. Leather industry accounted for largest market share on the account of the use of chromium salts in leather tanning process which is used in various leather industries.

The global chromium salts market is anticipated to grow at a significant rate during the forecast period. The use of chromium salts in various end user industry likely to foster the market growth during the forecast period.

By region, Asia Pacific is witnessing increased demand for chromium salts on the account of technological development in automotive and electronics industries in the region. China and India are main contributors in these industries. Robust GDP growth rate, increasing income and government policies and regulations are driving automotive production in these countries. Additionally, stronger demand has been observed from lower-tier cities in these countries on the account of decrease in automobile prices.

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Rapid industrialization and globalization will foster the demand of chromium salts in global market

The rapid industrialization in various regions is augmenting the demand of chromium salts in the global market. For instance, in leather industry it is estimated that 90% of the leather tanning is done with the chromium salts. Thus there is great demand of chromium salts in leather industry. Further, paints and dye industry is also witnessing increased demand of chromium salts which is attracting the interest of manufacturers. The manufacturers are developing the technologies which are user friendly and do not harm the people who are in routine contact with chromium salts.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global chromium salts market which includes company profiling of key companies such as Sun Chemicals, Bayer, BASF, Ciba Speciality Chemicals, Xinjiang Sing Horn Group, Oxkem, Hubei Zhenhua Chemical, Medural Group, MS Chemicals and Opera Chemisol.The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global chromium salts market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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