The global chromium carbide market is expected to grow at a CAGR of 3.6% during the forecast period from 2021 to 2028. Increasing demand for chromium carbides in various end-user industries such as the mining industry owing to its high melting point has been driving market growth over the last few years.
Chromium carbide is a hard, refractory, dark-gray metal with a hardness of 12. It has a high melting point. The three common allotropes are chromium, martensite, and austenite. Chromium carbide is the most important compound of chromium compounds of chromium and is a constituent of stainless steel and other alloys. It exhibits excellent chemical and thermal resistance properties which are mainly used in refractories such as bricks or crucibles for steelmaking, iron-chromite cement production, carbon arc furnace linings, pulverized coal injection systems, etc.
On the basis of type, chromium carbide is segmented into powder, block, and others.
It is the most commonly used type, which is mainly applied in stainless steel production. It is a three-component system of chromium, tungsten, and carbon. Chromium particles are finely divided into powder form as the raw material to produce this type of carbide. The chemical composition required for producing these powders also includes other elements such as manganese and molybdenum. There are many applications where this metal can be used but it has been most commonly utilized in cutting tools because its properties make it an excellent abrasive agent with a high hardness level combined with a low coefficient on wear resistance.
It is a combination of metal Chromium and carbon. The material is usually used in refractories, steelmaking, glass making and mining operations to resist high temperatures at various conditions.
On the basis of application, chromium carbide is segmented into mining, energy generation, cement production, steel production, pulp & paper industry as well as glass-making industry.
Chromium carbide is used in the process of extracting minerals from ores. It has a high hardness level and resistance to wear, which makes it an ideal material for mining machinery. The chromite ore can be processed using steel balls that have been made with chromium carbide inserts. The ball milling machine grinds up rocks into fine particles by rotating them around rapidly while inside the chamber. This grinding action produces small rock fragments called slag, as well as metal dust consisting of coarse grains mixed with finer ones containing iron or nickel metals. A large-scale application of this type would include the extraction process by which coal is mined.
Chromium carbide is a rare-earth metal compound that has an important use in the nuclear industry. The radioactive isotope californium-252, which can be extracted from spent fuel rods and nuclear waste material by bombarding them with neutrons, converts to pure carbon when it absorbs a neutron so it's used as reactor fuel. A few grams of this element are typically needed for each kilowatt-hour generated per day in order to produce electricity.
Chromium carbide is a compound that is used in cement production to slow the rate of heat transfer from the clinker. The slag, which separates out during firing, contains chromium and carbon. It can be added back into the mix at this stage if it has not already been removed by some other process such as “calcining” or “lime-burning”. When calcium oxide (CaO) reacts with heating coal, any free lime will react preferentially with all sulfates present to form calcium sulfate – gypsum (CaSO₃). All molten metal oxides dissolve in water except for CaO and MgO so they are unaffected by these reactions but SiO₂ will be in excess and the resulting slag might not have all of its components present. The clinker is then mixed with up to 20% chromium carbide, which contains only one solid phase (Cr23C-). This material slows down the rate at which heat can transfer from the molten mass so that a longer period of time is available for the chemical reactions between constituents before they are vitrified into a glassy state.
Chromium carbide is an alloying material in steel production. It can help to decrease the melting point of steel while also increasing its hardness and wear resistance.
Chromium carbide is used to pulverize wood for the production of pulp. The size and shape of the particles are important because they determine how well they will blend with water in a process known as hydration, which makes up about 65% of the paper-making total cost.
In the glass-making process, chromium carbide is used in a variety of applications. It can be used to make chemical compounds for polishing and in many other ways. The main use of chromium carbide in glass-making is to improve durability, surface quality, and production rate. It can be used in the form of powder or grits as an addition to glass formulations for improving their properties.
On the basis of region global chromium carbide market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to hold the highest market share followed by Europe in terms of revenue. Europe accounted for the second-largest share in this region, registering a CAGR of XX% from 2018 to 2028. The Asia Pacific and Latin American are anticipated to grow at an above-average rate over the forecast period owing to positive economic growth prospects and increasing demand within emerging economies such as India and China. The increase in technological advancements across industries will also boost their uptake during the projection period, with the Asia Pacific being poised for rapid growth due to its low carbon footprint levels when compared with other regions.
The Middle East & Africa held one of the smallest shares among all regions but registered a significant CAGR because it has gradually evolved into one of the key chromium carbide regions of the world. The market might witness some volatility throughout its projection period due to shifting political landscapes and macroeconomic factors around the globe but on average it has been projected as being strong across all segments during 2021-2028.
- Increase production of chromium carbide from the mining industry is a key factor for driving global demand growth.
- Rising cement and steel production in emerging markets is also expected to drive market growth over the forecast period.
- Increasing demand for chromium carbide in various applications such as energy, cement, and steel is expected to drive the growth of the global market.
Up Market Research published a new report titled “Chromium Carbide Market research report which is segmented by Types (Powder, Block, Others), By Applications (Mining, Energy, Cement, Steel, Pulp & Paper, Glass, Others), By Players/Companies OC Oerlikon, H.C. Starck, Praxair S.T. Technology, Sigma-Aldrich, Alfa Aesar, Strem Chemicals, Changsha Langfeng Metallic Material, Reade International, NewMet, ESPICorp, Nanoshel, LTS Research Laboratories, American Elements, Inframat, ZhuZhou GuangYuan Cemented Material”.
|Report Attributes||Report Details|
|Report Title||Chromium Carbide Market Research Report|
|By Type||Powder, Block, Others|
|By Application||Mining, Energy, Cement, Steel, Pulp & Paper, Glass, Others|
|By Companies||OC Oerlikon, H.C. Starck, Praxair S.T. Technology, Sigma-Aldrich, Alfa Aesar, Strem Chemicals, Changsha Langfeng Metallic Material, Reade International, NewMet, ESPICorp, Nanoshel, LTS Research Laboratories, American Elements, Inframat, ZhuZhou GuangYuan Cemented Material|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||235|
|Number of Tables & Figures||165|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Powder, Block, Others and By Application Mining, Energy, Cement, Steel, Pulp & Paper, Glass, Others.
Some of the companies that are profiled in this report are:
Chromium Carbide Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Chromium Carbide Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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