During the forecast period from 2023 to 2031, the global chromium oxide market is projected to grow significantly at a significant compound annual growth rate of 4.0%. The increasing demand for chromium oxide pigments and coatings and the increasing demand for chromium oxide in the chemical industry are accelerating the demand for chromium oxide, which in turn is driving market growth. In addition, the mounting construction and automotive industries will drive market growth during the forecast period. The chromium oxide market is expected to expand strongly, reaching 64954 million US dollars by 2031 and 4754.6 million US dollars by 2023. The market was valued at $460.1 million in 2022 and is projected to grow at a compound annual growth rate of 4.0% between 2023 and 2031.
Chromium oxide is an inorganic polymer with the chemical name chromium oxide. It is also known as chromium sesquioxide, chromium trioxide, chromium oxide (3+), chromium green, and chromium. Chromium oxide is a green powder used as a pigment. It is obtained by calcining sodium dichromate in the presence of carbon or sulfur. It naturally exists in the mineral eskolaite, mainly in chromium-rich siliceous rocks, tremolite, chlorite veins, and quartzite. According to the application, the coatings and paint sector contributed 36.27% in market growth 2022. Chromium oxide pigments and colourants are used in various paints and coatings, including architectural, industrial, and automotive coatings. Due to its excellent heat resistance, wear resistance, and other advantages, chromium oxide is widely used in coating applications, especially in the automotive industry and other fields. In addition, the expansion of the global automotive industry is leading to further demand for coatings and paints.
Chromium Oxide is an important chromium compound with the chemical formula Cr2O3. Chromium Oxide is a dense, completely opaque, medium-purity light green pigment with bright and dark green hues. It has high-temperature resistance, hardness, excellent weather resistance and stability, and is relatively stable to the light, atmosphere, and corrosive gases (such as H2S, SO2, etc.). Insoluble in water and ethanol, resistant to acid and alkali, and possessing magnetism.
The characteristics of Chromium Oxide:
- High coverage: able to cover the substrate, providing good decorative and protective effects.
- Stability: Stable in the atmosphere, without affecting general concentrations of acid, alkali, and sulfur dioxide gas.
Application of Chromium Oxide:
- Pigments and coatings: Due to their stable chemical properties and excellent covering power, they are widely used in fields such as coatings, ceramics, rubber, art pigments, and camouflage coatings.
- Battery electrode material: Lithium-ion batteries are also used as an electrode material.
- Precursors of functional ceramics and oxides: Can synthesize functional ceramics and oxides.
- Other uses: In the solid-state reaction of forming a new ternary oxide, CrVMoO7, it is also used as a raw material, and this ternary oxide can be used for selective oxidation.
Supplier
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