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Chrome Metal Powder Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021-2026
Chrome Metal Powder Market Overview
Chrome Metal Powder Market size is forecast to grow at a CAGR of 6.9% during 2021-2026. Metal chromium powder is majorly used for the production of welding electrodes, and flux-cored wires, owing to this, the chrome metal powder industry is witnessing an increase in demand. In addition, they are also used for the production of various specialty alloys and super alloys. Furthermore, chrome metal powders are highly corrosion resistant against many different acids and bases as well as hot gases.
However, growing manufacturing works in various industries such as automotive, aviation, and others will further enhance the overall market demand for chrome metal powder during the forecast period. 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. The automotive industry in the US continues to remain fragile. Vehicle sales in the month of August declined close to 20% (YoY), reaching 1.33 million units. During the month, Toyota saw a sharp decline of 24.6%, followed by Honda (-23%). Hyundai.
Report Coverage
The report: “Chrome Metal Powder Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the chrome metal powder market.
By Type - Chromium Metal Powder and Electrolytic Chromium Powder.
By Application – Welding Electrodes, Flux-cored wires, Thermal Spraying, Aluminum Hardeners, Power Metallurgy and Others.
By End-Use Industry – Aerospace, Automotive (Passenger Cars, Heavy Commercial Vehicle and Light Commercial Vehicle), Oil & Gas, Electrical & Electronics, Marine, Building and Construction (Residential, Commercial and Industrial) and Others.
By Geography – North America (U.S., Canada, and Mexico), Europe (U.K., Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Asia-Pacific dominates the chrome metal powder market owing to increasing demand from applications such as automotive, aviation and others.
- The growing demand for welding electrodes for the welding work in various industries is likely to aid in the market growth of chrome metal powder.
- Implementation of stringent government regulations related to electric vehicles will increase the market demand for chrome metal powder in the near future.
- Chrome metal powder use as chrome plating which is quite expensive, this will create hurdles for the chrome metal powder market.
Figure: Asia Pacific Chrome Metal Powder Market Revenue, 2020-2026 (US$ Million/Billion)
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Chrome Metal Powder Market Segment Analysis - By Type
Chromium metal powder had a significant growth in the chrome metal powder market in 2020 and is expected tor grow at a CAGR of 5.8% during the forecast period. Chromium metal quickly became an indispensable ingredient in various industrial materials because of its unique characteristics. Few examples of these applications encompass stainless steel, super alloys, aluminum alloys, and electronics. Whereas high grade stainless steels, made possible by additions of chromium metal powders and are essential to the safe and environmentally sound operation of chemical plants, nuclear power generation facilities, food processing operations, and other critical industries. Hence, with increasing demand for chromium metal powder the demand for chrome metal powder market will grow.
Chrome Metal Powder Market Segment Analysis – By Application
Automotive sector has been the primary market for chrome metal powder in 2020 and is growing at a CAGR of 5.5% in the forecast period. The most commonly used welding methods for automotive applications are resistance spot welding, resistance seam welding, metal inert gas welding, tungsten inert gas welding as also laser beam welding, friction welding, and plasma arc welding. These welding works is expected to drive the demand for welding electrodes and thus, the chrome metal powder market will also grow. Whereas with the growing demand for automotive around the world the welding electrodes demand will drive. According to sales statistics of OICA, there is a increase of 1.6 million unit vehicles sales from 2015 to 2019, this is expected to drive the demand for chrome metal powder in the near future.
Chrome Metal Powder Market Segment Analysis - By Geography
APAC has dominated the chrome metal powder market in 2020 and is growing at a CAGR of 7.5% in the forecast period, as majority of vehicles are produced in the Asian countries such as China, India, South Korea, and Japan. Owing to the larger population in the APAC region, the demand for vehicles in this region is very high for both personal and commercial use, this has eventually led to the increased demand for longer distance roadways network in this region.
According to the OICA (International Organization of Motor Vehicles Manufacturers), there is an increase in 3% production of automotive from 2015 to 2019. Whereas according to the production statistics of 2019 released by OICA, China and India are 1st and 5th largest producer of motor vehicles including passenger cars, commercial vehicles, heavy trucks, buses and others. Hence, the increasing automotive demand in this region will drive the market for chrome metal powder in the upcoming years.
Chrome Metal Powder Market Drivers
Growing Demand for Battery Electric Vehicles
The shift towards electric vehicles in the developed and developing nations would increase the growth of vehicles and will also help the chrome metal powder market over the forecast timeframe. According to IEA, Norway, the Netherlands and Japan are frontrunners in the electronic vehicles segment. Norway held the share of 46 percent in terms of the global new electric car sales as reported by IEA in 2018. In order to meet zero emission targets under the “Paris Climate Accord”, in 2017, France government has announced that it will ban diesel and gasoline-powered vehicles completely and switch to electric powered vehicles by 2040. Whereas according to the electric vehicle world sales database, Europe is the beacon of EV sales in 2020 with 57 % growth for H1, in a vehicle market which declined by 37 %. The rapid increases of EV sales started in September 2019 and gained further momentum this year. Therefore, the rising demand for electric vehicles has enhance the overall market demand for chrome metal power.
Spraying Chrome Versatility
Spray-on chrome process is very versatile and is not limited by the size of the part to be chromed. It can be used on a board variety of different materials, including glass, plastic, metal and wood. It is much less expensive and gives the same high quality durable finish and gleam people obtain through electroplating. Hence this is driving the market growth for chrome metal powder.
Chrome Metal Powder Market Challenges
Expensive Use in Chrome Plating
Due to the very toxic nature of chrome plating, it is heavily regulated by government.Chrome plating takes significantly more time than spraying on chrome and is very expensive. Since the parts must be dipped in vats for the chroming process, there is a limit, to the size of the part that may be chromed. Cost of the chemicals is greater and the chrome plating process is hard to control. Whereas according to Trademap (ITC) chromium powders are about USD $10,690 per unit in 2019. So, this high price may hinder the market growth for chrome metal powder market.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the chrome metal powder market. Major players in the chrome metal powder market are Amg Advanced Metallurgical Group, N V, Bell Group, Delachaux Group, Exo Tech, Hascor International Group, Industrial Metallurgical Holding, Kohsei Co, Ltd, Loudishi Dajin Xincailiao, Midural Group, Tritrust Industrial Co, Ltd, among others.
Acquisitions/Technology Launches
- In November 2019, AMG Advanced Metallurgical Group N.V. has finalized the acquisition of the assets of International Specialty Alloys (“ISA”), a leading U.S. producer of titanium master alloys and other binary alloys for the aerospace market, from Kennametal, Inc.
- In February 2019, French Delachaux Group has closed the acquisition of the Frauscher Sensor Technology. The Delachaux Group now holds the major share in the company. The remaining shares are held by the Frauscher Management Team.
Relevant Reports
Report Code: CMR 1168
Report Code: CMR 0113
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1. Chrome Metal Powder Market- Market Overview
1.1 Definitions and Scope
2. Chrome Metal Powder Market - Executive Summary
2.1 Key Trends by Type
2.2 Key Trends by Application
2.3 Key Trends by End Use Industry
2.4 Key Trends by Geography
3. Chrome Metal Powder Market – Comparative analysis
3.1 Market Share Analysis- Major Companies
3.2 Product Benchmarking- Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis- Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4.Chrome Metal Powder Market - Startup companies Scenario Premium io Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Chrome Metal Powder Market – Industry Market Entry Scenario Premium io Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Chrome Metal Powder Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 Threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Chrome Metal Powder Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Chrome Metal Powder Market – By Type (Market Size -$Million/Billion)
8.1 Chromium Metal Powder
8.2 Electrolytic Chromium Powder
9. Chrome Metal Powder Market – By Application (Market Size -$Million/Billion)
9.1 Welding Electrodes
9.2 Flux cored wires
9.3 Thermal Spraying
9.4 Aluminum Harderners
9.5 Power Mettalurgy
9.6 Others
10. Chrome Metal Powder Market – By End Use Industry (Market Size -$Million/Billion)
10.1 Aerospace
10.2 Automotive
10.2.1 Passenger Cars
10.2.2 Heavy Commercial Vehicle
10.2.3 Light Commercial Vehicle
10.3 Oil & Gas
10.4 Electrical & Electronics
10.5 Marine
10.6 Building and Construction
10.6.1 Residential
10.6.2 Commercial
10.6.3 Industrial
10.7 Others
11. Chrome Metal Powder Market - By Geography (Market Size -$Million/Billion)
11.1 North America
11.1.1 U.S
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 UK
11.2.2 Germany
11.2.3 France
11.2.4 Italy
11.2.5 Netherland
11.2.6 Spain
11.2.7 Russia
11.2.8 Belgium
11.2.9 Rest of Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Australia and New Zealand
11.3.6 Indonesia
11.3.7 Taiwan
11.3.8 Malaysia
11.3.9 Rest of APAC
11.4 South America
11.4.1 Brazil
11.4.2 Argentina
11.4.3 Colombia
11.4.4 Chile
11.4.5 Rest of South America
11.5 Rest of the World
11.5.1 Middle East
11.5.1.1 Saudi Arabia
11.5.1.2 U.A.E
11.5.1.3 Israel
11.5.1.4 Rest of the Middle East
11.5.2 Africa
11.5.2.1 South Africa
11.5.2.2 Nigeria
11.5.2.3 Rest of Africa
12. Chrome Metal Powder Market – Entropy
12.1 New Product Launches
12.2 M&As, Collaborations, JVs and Partnerships
13. Chrome Metal Powder Market – Market Share Analysis Premium
13.1 Market Share at Global Level - Major companies
13.2 Market Share by Key Region - Major companies
13.3 Market Share by Key Country - Major companies
13.4 Market Share by Key Application - Major companies
13.5 Market Share by Key Product Type/Product category - Major companies
14. Chrome Metal Powder Market – Key Company List by Country Premium Premium
15. Chrome Metal Powder Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
15.1 Company 1
15.2 Company 2
15.3 Company 3
15.4 Company 4
15.5 Company 5
15.6 Company 6
15.7 Company 7
15.8 Company 8
15.9 Company 9
15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"