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Chromium salt is a brittle, lustrous, and hard chemical element in nature. It belongs to the transition element group. It is extracted from very commonly found ore called chromites. Some of the features of chromium salt include high melting point, resistive against corrosion, and is highly resistant to tarnish. Various metal compounds can be formed by mixing this element with other elements. Chromium salts find applications in inks, paints, metallurgy, dyes and pigments, tanning, as a wood preservative, and as a catalyst.

Market Dynamics

Growing industrialization in emerging economies such as India, China, and Brazil among others is one of the major factors driving growth of the global chromium salts market. Rapid growth of dye and pigment market that include paints in emerging markets is expected to fuel growth of the chromium salts market over the forecast period. Moreover, rising use of chromium salts in other applications such as metal treatment, leather treatment, and water treatment is expected increase demand for chromium salts in the near future, thereby boosting growth of the market.

However, carcinogenic and toxic properties of chromium salt will affect people working with this salt on a regular basis. Due to this harmful properties, various stringent environmental rules and regulations are imposed by governments, especially in Europe and the U.S, which is expected to be a major factor restraining growth of the global chromium salts market.

Market Outlook

On the basis of region, the global chromium salts market is segmented into North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Asia Pacific and Middle East contribute to chromium salts market growth, owing to increasing demand for dyes and paints in these regions. Emerging economics such as India and China are promising markets for chromium salt due to rising demand for chromium salt in these countries. Europe is expected to witness significant growth in the chromium salts market over the forecast period, as it one of the biggest exporters of chromium compounds. In Sweden, these salts are used in paint production, which is a growing market globally, owing to the global rise in infrastructures.

Key Players

Some of the major manufacturers of chromium salts in the global chromium salts market include Sun Chemicals, Bayer, Basf SE, Ciba Speciality Chemicals, American Elements, Xinjiang Sing Horn Group, Medural Group, Hubei Zhenhua Chemical, and Oxkem Ltd among others. Sigma-Aldrich is one of the biggest suppliers of chromium salts.

Key Developments:-

  • In August 2019, Brother Enterprises Holding announced to acquire LANXESS South Africa. Lanxess in South Africa is engaged in the production of chrome tanning agents used in leather tanning & processing and production of chromium salts. The acquisition would provide steady supply of raw material at low cost to Brother Enterprises Holding.
  • In January 2020, German Specialty Chemicals Company Lanxess announced that it has accomplished its sale of chrome chemical business to Brother Enterprises Holdings which is a China based leather chemical manufacturer company. Lanxess in South Africa has its facilities in two locations, Newcastle and Merebank in South Africa. Under the agreement, the Lanxess would produce and supply the chrome tanning salts to Brother Enterprises until 2024.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users