Chromic Acid Market Expected to Grow at a CAGR of 3.9% | Latest Research by The Market Reports

Chromic Acid (H2CrO4)is hygroscopic and a strong oxidizer easily dissolves in water. It is widely used in industries like metal coating, wood preservation and manufacturing of magnetic tape and organic chemicals.

Chromium trioxide(CrO3) is the anhydride of chromic acid. It is a red solid piece at room temperature. It can precipitate by adding sulfuric acid in chromate or dichromate solution. Therefore it is also known as “chromic acid”. In this report, we choose the Chromium trioxide with purity ≥99% to calculate the quantity of Chromic Acid.

China is the largest Chromic Acid market with about 50% market share. Europe is follower, accounting for about 25% market share.

The key players are LANXESS South Africa, Soda Sanayii, Elementis, MidUral Group, Novotroitsk Plant of Chromium Compounds, Hunter Chemical, Atotech Deutschland, Vishnu Chemicals, Chongqing Minfeng Chemical, Sichuan Yinhe Chemical, Huangshi Zhenhua Chemical, etc.

The global Chromic Acid market was valued at US$ 684.9 million in 2020 and it is expected to reach US$ 895.3 million by the end of 2027, growing at a CAGR of 3.9% during 2021-2027.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

  • Excellent Grade
  • First Grade
  • Qualified

Segment by Application

  • Wood Preservation
  • Metal Planting
  • Others

By Company

  • LANXESS South Africa
  • Soda Sanayii
  • Elementis
  • MidUral Group
  • Novotroitsk Plant of Chromium Compounds
  • Hunter Chemical
  • Atotech Deutschland
  • Vishnu Chemicals
  • Chongqing Minfeng Chemical
  • Sichuan Yinhe Chemical
  • Huangshi Zhenhua Chemical

Production by Region

  • North America
  • Europe
  • China

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
  • Latin America (Mexico, Brazil, Argentina)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE)

 

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