Global Chromic Acid Market: Market Introduction
Chromic acid, also known as chromium sesquioxide or Chromic (VI) acid or tetraoxochromic acid or chromia is a mixture of concentrated sulfuric acid and dichromate that contains a number of compounds as well as solid chromium trioxide that are formed during the acidification of solutions. Besides, Chromic acid can also be generated by dissolving chromium trioxide in sulfuric acid.
Chromic acid is used to oxidise a variety of organic compounds, including ketones and carboxylic acids. It is also used in the manufacturing of metal coatings, plastic coatings, wood preservatives, detergents, glassware washing, ceramic glazes, and a variety of other products. Additionally, chromic acid is used as a catalyst, as well as a permanent pigment called chrome oxide green. Chromic acid is also used as a coloring agent in a variety of applications including glass and ceramic ware. Chrome green is the generic name for one of the four chromium oxides.
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Global Chromic Acid Market: Market Dynamics
The use of chromic acid in various industries such as paints and coatings, as well as ceramics, has been substantially growing and thereby pushing the market for chromic acid during the forecast period. Furthermore, the chromic acid market is being fueled by its widespread use in Asia Pacific as a result of the expansion of construction activities. Glass's increasing use in a variety of end-use applications is expected to continue in the coming years. And more the trend to live a luxury life in today’s era is seen, which is expected to directly affect the market of Chromic Acid, as paint coating has been set as the society standards in most of the areas. Chromic acid is used on ceramics to protect them from extreme heat and breakdowns in a subtle way. This particularly is sort of likely to create lucrative opportunities for the chromic acid market in the next few years.
However, chromic acid can cause burning, skin allergy, eyes with possible eye damage and basically other health hazards. Ergo this and increasing concern related to human health is restricting chromic acid’s usage in paints and coatings application in a definitely major way.
Chromic acid has the ability to brighten raw brass and therefore it is used in the instrument repair industry too, and hence also contributing in the manufacturing industry which will directly impact the growth of Chromic acid in the regions where any manufacturing plants exist.
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Global Chromic Acid Market: Market Segmentation
The global diverse market of Chromic Acid can be segmented based on Industry type, product type and application.
Based on Industry type, the global Chromic Acid market can be segmented into:-
- Metal Plating
- Wood Preservation
Based on Product type, the global Chromic Acid market can be segmented into:-
- Laboratory Grade
- Industrial Grade
Based on application, the global Chromic Acid market can be segmented into:-
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Global Chromic Acid Market: COVID-19 crisis impact
The rapid spread of coronavirus particularly has had a significant effect on global markets, as the pandemic generally has placed the world's major economies on lockdown. The shutdown of all types of international transportation is one of the major challenges for the supply chain across all the industries. Disruption in supply chain, lack of raw material supply and manufacturing plant shutdowns impacted the global chromic acid market. Most sectors, with the exception of medical supplies and life support devices, have been severely impacted, including the Chromic Acid market.
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Which trend/ segment to impact more?
The major demand for Chromic acid has been for wood preservatives. Hexavalent chromium (Cr+6) compounds have improved the resilience of wood surfaces to natural weathering. Paint and stain performance on these treated wood surfaces is significantly improved. The free water absorption of CrO3-treated wood is lower than that seen after a water repellent procedure. This reduction in free water uptake is observed for treated flat-grained and vertical-grained surfaces, but not for end-grain wood, implying that capillary uptake is still possible. Both water immersion and water-spray tests revealed water repellency.
Global Chromic Acid Market: Analyst perspective
The change in the market of Chromic Acid will be possible owing to coating industry and existing players who have firmly established themselves in the market since its inception. Regardless, business unions, associations, outcast chiefs, and others are channeling their efforts to create customer-driven products, which will contribute to the areas of development. The Chromic Acid market is envisaged to be expanding fundamentally due to rising sales, increased compensation, and trend setting development, and contraption, as well as tasks for spreading awareness about the need.
Global Chromic Acid Market: Regional Outlook
In the near future, Asia Pacific is projected to dominate the global chromic acid market in terms of consumption. Due to the growth of chemical production, infrastructure, and construction in China and India, the market in Asia Pacific has been expanding. As a result, the market for chromic acid has been rising substantially. Furthermore, the market in India is expected to expand as military vehicles become more popular and use of the same have increased and green pigments are used to paint them. In the near future, the chromic acid demand in the Middle East and Africa, as well as Latin America, is expected to grow at a moderate pace.
North America is also estimated to observe notable upsurge in chromic acid market owing to escalating construction growth. Commending government inventiveness in the countries to develop it in the construction field is expected to drive utilization. Moreover, industry players are sharpening on offshoring their manufacturing facilities in countries such as India, China owing to low-price production and better labor availability.
Global Chromic Acid Market: MARKET PARTICIPANTS
Some of the key market participants in the global chromic acid market, identified across the value chain include:
- LANXESS AG
- Sisecam Chemicals
- MidUral Group
- Novotroitsk Plant of Chromium Compounds
- Elementis Plc.
- Hunter Chemical, LLC
- Vishnu Chemicals
- Chongqing Minfeng Chemical Co., Ltd
- Hubei zhenhua chemical co., LTD
- China National Bluestar (Group) Co, Ltd.
- Sichuan Chemical Group Co., Ltd.
- Sun Chemical
- Hebei Chromate Chemical Co., Ltd
The research report on Chromic acid market presents a comprehensive assessment of the market and contain thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Chromic acid market report also contains projections using a suitable set of assumptions and methodologies. The research report on Chromic acid market provides analysis and information according to market segments such as of product type, by solubility and by application.
The Chromic acid market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, Italy, France, U.K, Spain, Poland, Russia)
- South Asia (India, ASEAN, Rest of South Asia)
- East Asia (China , Japan, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa, Rest of MEA)
The Chromic acid market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Chromic acid market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Chromic acid market report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing Chromic acid market dynamics in the industry
- In-depth Chromic acid market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth in Chromic acid market.
- A neutral perspective on Chromic acid market performance
- Must-have information for Chromic acid market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.