Chrome Metal Powder Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021-2026

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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.
 

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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"

List of Tables

1 US Chrome Metal Powder Market Size 2018
2 Canada Chrome Metal Powder Market Share 2018
3 Brazil Chrome Metal Powder Market Outlook 2019 - 2023
4 Mexico Chrome Metal Powder Market Research 2018
5 Germany Chrome Metal Powder Market Trends 2019 - 2023 
6 France Chrome Metal Powder Market Growth 2019 - 2023 
7 UK Chrome Metal Powder Market Demand 2019 - 2023 
8 Italy Chrome Metal Powder Market Segmentation 2018
9 Russia Chrome Metal Powder Market Analysis 2019 - 2023
10 China Chrome Metal Powder Market Revenue 2019 - 2023
11 Japan Chrome Metal Powder Market Volume 2019 - 2023
12 South Korea Chrome Metal Powder Market Potential 2019 - 2023
13 India Chrome Metal Powder Market Leaders 2018
14 Saudi Arabia Chrome Metal Powder Market Forecast 2019 - 2023 
15 Kuwait Chrome Metal Powder Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link