Chromium Market Share Report 2022-2027

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Global Chromium Market Research Report:

According to the latest report by IMARC Group, titled “ Chromium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

” the global chromium market reached a strong growth in 2021. Chromium is a complex, steel-grey metallic component found naturally in soil, animals, plants, rocks, volcanic dust, and gasses. It is also present in several food items, such as beer, wine, brewer’s yeast, meat, nuts, spices, fruits, vegetables, and grain products. It is widely utilized in manufacturing dyes, alloys, electroplating, and pigments, treating cooling tower water, and preserving wood and leather. Nowadays, chromium is used in formulating dietary supplements as it consists of antioxidants and plays an essential role in lipid, carbohydrate, and protein metabolism.

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Global Chromium Market Trends :

The market is primarily driven by the increasing sales of passenger vehicles worldwide. Chromium is utilized for producing stainless steel, used in manufacturing car exhaust systems and other auto parts, such as suspension, body, hose clamps, seatbelt springs, chassis, and fuel tanks. Apart from this, chromium is used in the pharmaceutical industry to produce medicines essential for improving blood sugar levels among people with prediabetes and type 1 and type 2 diabetes. Furthermore, there has been escalating demand for chromium-based medications with the growing prevalence of human immunodeficiency virus (HIV) and rising cases of high blood sugar due to extreme steroid intake. This is also on account of the increasing geriatric population, which is more susceptible to developing diabetes and other serious health conditions. Furthermore, the expanding product application in drilling muds, textiles, and toner for copying machines owing to its easy availability at affordable prices, is creating a favorable outlook for the market.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).

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Competitive Landscape with Key Players:

Al Tamman Indsil FerroChrome L.L.C

Belmont Metals Inc.

Edgetech Industries LLC

Eurasian Resources Group Ferbasa Glencore plc

Gulf Mining Materials Company

Odisha Mining Corporation Limited

ProChem Inc. International RD Mathis Company

• Samancor Chrome Ltd.

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