What is Chromic Acid Market Scope?
Chromic Acid also known as Tetraoxochromic acid is a concentrated mixture of sulphuric acid added to the dichromate. This mixture comprises of solid chromium trioxide and other minor compounds. The chromic acid can be formed into two major sub products, which are dichromic acid and molecular chromic acid. Chromic acids physical properties make it an excellent detergent especially for glass cleaning. Other than that the major application of chromic acid is for coating. Geographically, Asia Pacific is expected to emerge as the biggest market of chromic acid.
Influencing Trend:
Coating Accounts for Largest Market Share
Market Growth Drivers:
Growth in the End User Industries and Increasing Industrialisation has led to Growing Demand for Coating and Painting which indirectly has led to Growth of Chromic Acid
Challenges:
Large Number of Local and Global Players Manufacturing Chromic Acid are Present in the Market
Restraints:
The Chemical is Considered Hazardous to Environment
Opportunities:
Developing Countries in Africa and Latin America has Huge Opportunity to Grow
The Chromic Acid market study is being classified, by Application and major geographies with country level break-up.
The competitive landscape of the Chromic Acid market gives facts and statistical information by competitors. The study provides detailed analysis and precise revenue statistics by player for the year 2018-2028. It also provides extensive analysis backed up by trustworthy facts on revenue (global and regional) by players from 2018 to 2028. Analysts at AMA predicts that Vendors from China will contribute to the maximum growth of Global Chromic Acid market throughout the predicted period.
Lanxess AG (Germany), Hunter Chemical, LLC (United States), Sisecam Chemicals (Turkey), Elementis Plc (United Kingdom), MidUral Group (Russia), Atotech (United Kingdom), Sun Chemical (United States), Chongqing Minfeng Chemical Co., Ltd. (China), China National Bluestar Co, Ltd. (China) and Hubei Zhenhua chemical Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sichuan Chemical Group Co., Ltd. (China), Hebei Chromate Chemical Co., Ltd. (China) and Vishnu Chemicals Ltd. (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Chromic Acid market by Type, Application and Region.
On the basis of geography, the market of Chromic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
In 2020, Lanxess AG, the German Speciality chemicals manufacturer has announced completion of selling of its chrome chemicals business to Brother Enterprises, which is China based leather manufacturer. The move was made to focus on development of other businesses.
In 2020, Sun Chemical, which is a subsidiary of DIC Corporation and is famously known as world’s largest producer of printer inks and pigments has announced completion of acquisition of Sensient Imaging Technologies. The new acquisition will expand DIC and Sun chemical’s inkjet ink capabilities along with other complimentary technologies.
Key Target Audience
Chromic Acid Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industries and Others
Chromic Acid Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Chromic Acid Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Chromic Acid industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.