This market research study presents a detailed segmentation of the global chromium mining market by type (refractory, metallurgical, and chemical and foundry sand), by chromite end-use (stainless steel, alloy steel, and others), and by geography (Americas, Africa, APAC, and Europe and the Middle East). The key vendors in the market are Assmang, ENRC, Glencore, International Ferro Metals, Samancore Chrome, and Yilmaden Holding.
Technavio has released a new market research report on the global chromium mining market, which is expected to grow at a CAGR of 5% between 2016 and 2020. Growth of chromium market is directly proportional to the development of steel industry. Stainless steel consumes the largest portion of ferrochrome, and chromium mining is expected to increase in the coming years owing to the massive production of stainless steel. APAC dominates the global chromium mining market, accounting for 44% of the total market share. The increasing demand for chromite for stainless steel production is the major growth factor of this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the market is witnessing a steep increase in the production of non-met chromite. 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, recently, Mineral Technologies entered a joint venture with Glencore to supply foundry grade chromite,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research
The metallurgical segment monopolizes the chromium mining market, occupying around 95% of the overall 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.
Global chromium mining market by type
Source: Technavio, 2016
The leading players in the global chromium mining market include Assmang, ENRC, Glencore, International Ferro Metals, Samancore Chrome, and Yilmaden Holding. This 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.
A more detailed analysis is available in the Technavio report, Global Chromium Mining Market Outlook 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
