Global Chromium Mining Market 2016-2020

Outlook of the chromium mining market

Technavio’s market research analysts have predicted the global chromium mining market to grow at a moderate CAGR of more than 5% during the forecast period. The increasing demand from the stainless steel market is one of the key factors driving the growth of this market globally. Stainless steel has extensive applications in various industries including manufacturing, construction and infrastructure, automotive, transport, and electrical machinery. Moreover, stainless steel is rust resistant and can be sterilized easily, making it ideal for daily use products. Since chromium is an essential raw material in the production of ferrochrome, growth in the steel industry will indirectly result in the growth of the chromium market during the predicted period.

In this industry research report, the analysts have estimated factors like the increase in production of non-met chromite to bolster the growth prospects of this market until the end of 2020. The production of non-met chromite for foundry and chemical grade chromite is expected to grow in the coming years. Non-met products are a by-product of metallurgical grade chromium production. However, due to the rapid growth, most companies are entering into the manufacture of foundry products. For instance, in 2015, Mineral Technologies entered a joint venture with Glencore to supply foundry grade chromite. With an increasing number of companies manufacturing foundry products, the market for chromium has a positive outlook until the end of 2020.

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• Identify latent opportunities and explorative solutions in the chromium mining market
• Identify your key competition, and what's making them tick?
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Segmentation by type and analysis of the chromium mining market

• Metallurgical
• Chemical and foundry sand
• Refractory

In 2015, the metallurgical segment dominated the chromium mining market and accounted for almost 95% of the market share. Metallurgical ore is one of the most prominent ore grades among the all the available chromium ore grades. Ferrochrome is an alloy of chrome and iron, containing 50%-70% of chrome. Therefore, the global chromium mining market for a metallurgical grade is driven by the growth of the ferrochrome market.

Geographical segmentation and analysis of the chromium mining market

• Americas
• APAC
• Africa
• Europe and the Middle East

In 2015, APAC dominated the chromium mining market and accounted for nearly 44% of the market share. The chromium market in APAC is expected to grow at a rapid pace owing to an augmented demand from China. As China is a leading producer of ferrochrome, used in stainless steel production, it is also the largest consumer of chromite. The increasing demand for chromite for stainless steel production is expected to drive this market during the forecast period.

Competitive landscape and key vendors

The global chromium mining market is highly competitive with a few leading vendors in the market. However, with the entry of new players, the market share of leading vendors is decreasing. The competition is expected to intensify with the introduction of products with new features and technologies.

Key vendors in this market are -

• Assmang
• ENRC
• Glencore
• International Ferro Metals
• Samancore Chrome
• Yilmaden Holding

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global chromium mining market?
• What are the key market trends impacting the growth of the global chromium mining market?
• What are the challenges to market growth?
• Who are the key vendors in the global chromium mining market?
• What are the market opportunities and threats faced by the vendors in the global chromium mining market?
• Trending factors influencing the market shares of the Americas, APAC, Africa, Europe and the Middle East.
• What are the key outcomes of the five forces analysis of the global chromium mining market?

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