Global Chromium Trioxide Market By Form (Pellets, Powder And Nano-Powder, Sputtering Targets, Solvent), By Application (Metal Finishing & Chrome Plating, Wood Preservation Products Manufacturing, Other Applications), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2029

Market.us announces publication of its most recently generated research report titled, “Global Chromium Trioxide Market by Form (Pellets, Powder and Nano-powder, Sputtering Targets, Solvent), By Application (Metal Finishing & Chrome Plating, Wood Preservation Products Manufacturing, Chemical Products Manufacturing, Other Applications), and by Region – Global Forecast to 2028.”, which offers a holistic view of the global chromium trioxide market through systematic segmentation that covers every aspect of the target market.

The Global Chromium Trioxide Market is projected to be US$ 626.6 Mn in 2019 to reach US$ 714.2 Mn by 2029 at a CAGR of 1.3%.

Chromium trioxide is an inorganic compound and has formula CrO₃. It is also known by trade names, such as Chromic acid, chromic anhydride, and Chromium VI Oxide. It is dark-purple solid under anhydrous conditions, bright orange when wet and which dissolves in water concomitant with hydrolysis. It is found in the solid form as crystals, powder or flakes. After heating, chromium trioxide emits highly toxic fumes of chromium. Chromium is obtained in the form of sodium chromate, which is then further converted to sodium dichromate.

It is manufactured by using sodium dichromate and concentrated sulfuric acid. It is highly corrosive and is known as a carcinogen. Chromium trioxide is dangerous in direct contact with individuals. Chromium trioxide can cause casualties if consumed by humans and can also lead to burns of severe nature.

The inhaling of chromium trioxide can result in allergic reactions and respiratory irritation. Chromium trioxide is also viewed as highly toxic for the marine and aquatic environment. Due to such toxicity concerns, the use of chromium trioxide for industrial purposes is subject to different regulations, such as the EU Directive 2004/37.

Strong oxidizing properties- chromium trioxide is used in chemical products manufacturing due to its strong oxidizing properties to carry out controlled oxidation through the process of organic synthesis, which in turn is expected to support the growth of the target market over the forecast period.

Global Chromium Trioxide Market Revenue (US$ Mn), 2019–2029

However, chromium trioxide is a substance of very high concern (SVHC) under Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) for its carcinogenic and mutagenic properties and is subject to authorization. The use of Cr(VI) in electronic equipment is already banned in the EU via the RoHS Directive. This is the major factor expected to hamper the global market growth over the forecast period. Nonetheless, growing demand from emerging and developing economies for chromium trioxide due to its anti-corrosion properties is expected to create a new opportunity for manufacturers operating in the global chromium trioxide market.

Global Chromium Trioxide Market is segmented on the basis of form type, application, and region. On the basis of product type, the market is segmented into pellets, powder and nano-powder, sputtering targets, solvent. The pellets segment accounts for the majority share while powder and nano-powder segment is expected to register the highest growth over the forecast period. On the basis of Application, the market is segmented into metal finishing & chrome plating, wood preservation products manufacturing, chemical products manufacturing, other applications. The metal finishing & chrome plating accounts for a majority share in the global chromium trioxide market.

Global Chromium Trioxide Market by Formulation, 2019

On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. The APAC holds the majority of share in the Global Chromium Trioxide Market owing to high demand from the automotive sector and chemical products. APAC is followed by North America owing to due to high demand from the manufacturing of wood preservation products and metal finishing applications in the region. Regions such as Europe, MEA, and South America are expected to register stable growth over the forecast period.

The research report on the Global Chromium Trioxide Market includes profiles of some of the major companies such as Thermo Fisher Scientific, Inc, Merck KGaA, Soda Sanayii A.S., Novotroitsk Plant of Chromium Compounds, Seidler Chemical, Biopharm Inc., Sisco Research Laboratories Pvt. Ltd., American Elements Corporation, etc.

Key Market Segments:

Type

• Pellets
• Powder And Nano-Powder
• Sputtering Targets
• Solvent

Application

• Metal Finishing & Chrome Plating
• Wood Preservation Products Manufacturing
• Chemical Products Manufacturing
• Other Applications

Key Market Players included in the report:

• Thermo Fisher Scientific Inc
• Merck KGaA
• Soda Sanayii A.S.
• Novotroitsk Plant of Chromium Compounds
• Seidler Chemical
• Biopharm Inc.
• Sisco Research Laboratories Pvt. Ltd.
• American Elements Corporation

For the Chromium Trioxide Market research study, the following years have been considered to estimate the market size: