Chromium Trioxide Market - Forecast(2020 - 2025)

Report Code: CMR 1004 Report Format: PDF + Excel (Delivery in 48 Hrs)

Chromium Trioxide Market Overview

Chromium Trioxide Market size is forecast to reach $550 million by 2025, after growing at a CAGR of 1.2% during 2020-2025. With the rise in demand for corrosion inhibitor, the chromium trioxide market will grow. Growing public interest towards environment-friendly products will further create few hurdles for the overall market demand for Chromium Trioxide during the forecast period. 

Chromium Trioxide Market Report Coverage

The report: “Chromium Trioxide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Chromium Trioxide Industry. 
By Purity – 99.7%, 99.8%, and 99.9%.
By Application – Wood Preservatives, Corrosion inhibitor, Chrome plating, Dyeing & Printing, and Others.
By Geography – North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • Asia-Pacific dominates the Chromium Trioxide market owing to increasing demand from applications from end use industries such as automotive, aviation, Marine with others. 
  • The growing popularity for metal finishing and chrome plating, especially in automotive sector, is likely to aid in the market growth of chromium trioxide.
  • Chromium trioxide is mainly used in the production of wood preservatives and organic chemicals which will increase the market demand for chromium trioxide in the near future.
  • COVID-19 pandemic will create few hurdles for the chromium trioxide market.

Chromium Trioxide Market Segment Analysis - By Purity

99.7 % has been the largest segment for the chromium trioxide market. Chromium trioxide is the with the CrO3. It is the acid of, and is sometimes marketed under the same name. This compound is a dark red/orange brown, which dissolves in water concomitant with hydrolysis. Millions of kilograms are produced annually, mainly for electroplating. Chromium trioxide is mainly used in chrome-plating. Typically, it is employed with additives that affect the plating process but do not react with the trioxide.  Chromic acid lotion is the laboratory commonly used cleaning fluid, both acid and oxidizing, can remove experimental instrument of the outer wall of the wall and the dirt and insoluble substance. Usually this lotion by potassium dichromate to join in the concentrated sulfuric acid, but hexavalent chromium is harmful to the environment, strongly acidic environment sometimes also can make the instrument is impaired, at the moment, therefore, the application of chromic acid fluid has been reduced.

Chromium Trioxide Market Segment Analysis - By Application

Wood Preservatives has been the primary market for chromium trioxide market. Wood surfaces treated with hexavalent chromium (Cr+6) compounds have enhanced resistance to natural weathering properties. The performance of paints and stains applied to these treated wood surfaces is greatly improved. Degree of protection provided is directly related to Cr+ 6 concentration for chromium trioxide solutions (CrO3, chromic acid). A 4.8% CrO3 solution is most effective at its original pH of 0.5. Surface treatment with CrO3 reduces dimensional changes in wood exposed to water. Free water uptake of CrO3 - treated wood is decreased to that observed after treatment with a water repellent. This decrease in free water uptake is found for treated flat-grained and vertical-grained surfaces but not for end-grain wood, indicating that capillary uptake still can occur. Water repellency was observed in both water immersion and water-spray experiments. 

Chromium Trioxide Market Segment Analysis - By Geography

North America has dominated the chromium trioxide market. While many Cr+6-containing compounds are beneficial in improving the surface properties of wood, only chromium trioxide (CrO3–also called chromic anhydride, or chromic acid when in aqueous solution) has been shown to be fixed on the wood surface after heat treatment. This fixation or “tying up” is especially important since Cr+ 6 compounds are toxic. CrO3 first interacts with wood components and then is both fixed and chemically reduced to the less hazardous trivalent state (Cr+3) this process makes CrO3 attractive as a potential pretreatment for wood surfaces. Much of the world's electrical distribution system is suspended on wood poles. Copper Care's product line of wood preservatives, tools, and supplies is especially tailored to fit the needs of both the applicator and the pole. Specialized internal treatments are designed to control decay and insects in refractory heartwoods and vulnerable sapwood. Cu-Bor's excellent penetration properties transport Boron and copper from the surface deep into the outer shell.

Chromium Trioxide Market Drivers

Growing demand in automotive industry

Growing demand for chromium trioxide in chrome plating is favoring market growth of Chromium Trioxide. Chromium plating requires that the metal to be plated is immersed in a sodium cyanide/caustic soda solution as a pretreatment, after which it is rinsed free of alkaline cyanide in running water, producing a rinse tank overflow contaminated with alkali and cyanide. The pretreated parts are then plated in a chromic acid bath and subsequently rinsed free of surplus plating solution in running water.

Chromium Trioxide Market Challenges

Impact of COVID 19

The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of International transportation. Global crisis for all sectors including automotive, which was hit by slowing demand in goods’ production and exports had slowdown the market for chromium trioxide.

Health Issues 

Chromium Trioxide is a dark red to brown colored, crystalline, inorganic compound that emits toxic chromium fumes upon heating. Chromium trioxide primarily affects the nose, throat and lungs causing ulcerations, shortness of breath, bronchitis, pneumonia and asthma-like allergy but can also affect the gastrointestinal tract, liver, kidneys and immune system. This substance is a known human carcinogen and is associated with an increased risk of developing lung cancer and cancer of the sinonasal cavity. Even Under prolonged exposure to fire or heat the containers may explode.

Chromium Trioxide Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Chromium Trioxide market. In 2019, the market of Chromium Trioxide has been consolidated by the top five players accounting for xx% of the share. Major players in the chromium trioxide Market are Soda Sanayii, Elementis Plc, Hunter Chemical LLC, Aktyubinsk, MidUral Group, Nippon Chemicals, Zhenhua Chemical, Chongqing Minfeng Chemical Co. Ltd., Haining Peace Chemical among others. 

Acquisitions/Technology Launches

  • In October 2020, Nippon Shokubai and Sanyo Chemical have entered into an agreement to merge their respective businesses via a share transfer to form an integrated holding company named Synfomix Co. Ltd. (Kyoto, Japan).

1. Chromium Trioxide Market- Market Overview
    1.1 Definitions and Scope
2. Chromium Trioxide Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Purity
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. Chromium Trioxide Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Chromium Trioxide Market - Startup companies Scenario Premium Premium 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Chromium Trioxide Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Chromium Trioxide Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Chromium Trioxide Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors Analysis
8. Chromium Trioxide Market– By Purity (Market Size -$Million)
    8.1 99.7%
    8.2 99.8%
    8.3 99.9%
9. Chromium Trioxide Market– By Application (Market Size -$Million)
    9.1 Wood Preservatives
    9.2 Corrosion Inhibitor 
    9.3 Chrome Plating
    9.4 Dyeing & Printing
    9.5 Others.
10. Chromium Trioxide Market - By Geography (Market Size -$Million)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 South America
        10.2.1 Brazil
        10.2.2 Argentina
        10.2.3 Colombia
        10.2.4 Chile
        10.2.5 Rest of South America
    10.3 Europe
        10.3.1 U.K
        10.3.2 Germany
        10.3.3 Italy
        10.3.4 France
        10.3.5 Russia
        10.3.6 Spain
        10.3.7 Netherlands
        10.3.8 Belgium
        10.3.9 Rest of Europe
    10.4 Asia Pacific
        10.4.1 China
        10.4.2 India
        10.4.3 Japan
        10.4.4 South Korea
        10.4.5 Australia & New Zealand
        10.4.6 Rest of Asia Pacific
    10.5 RoW
        10.5.1 Middle East
            10.5.1.1 UAE
            10.5.1.2 Saudi Arabia
            10.5.1.3 Israel
            10.5.1.4 Rest of Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Chromium Trioxide Market- Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Market Share Analysis Premium
    12.1 Market Share by Country- Top companies
    12.2 Market Share by Region- Top companies
    12.3 Market Share by type of Product / Product category- Top companies
    12.4 Market Share at global level- Top companies
    12.5 Best Practices for companies
13. Chromium Trioxide Market- List of Key Companies by Country Premium 
14. Chromium Trioxide Market Company Analysis
    14.1 Market Share, Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"