Global Chromium Mining Market Overview:
Chromium is Extracted From Chromite Ore. Chromite is Dark Grey to Black in Colour With a Metallic to Submetallic Lustre & a High Specific Gravity. It Occurs in Basic & Ultrabasic Igneous Rocks & in the Metamorphic & Sedimentary Rocks That are Produced When Chromite-Bearing Rocks are Altered by Heat or Weathering. Chromite is Significant Because it is the Only Economic Ore of Chromium, an Essential Element for a Wide Variety of Metal, Chemical, & Manufactured Products
Market Drivers
- The rise in the Demand for Stainless Steel Produced From Chromium in Automotive & Construction Industry
- Growth in the Paint & Coating Industry Utilizing Chromium for Preparing a Hard, Beautiful, & High Corrosion Resistant Surface
Market Trend
- Rapid Industrialization Especially in the Growing Economies Like India, China, & Brazil
Restraints
- Stringent Regulations Associated With the Mining Operations
Opportunities
- Rising Usage of the Stainless Steel in the Medical Industry for Manufacturing Products Like Surgical Instruments, Kidney Dishes & Operating Tables, As Well As Other Medical Equipment Such as Cannulas, Steam Sterilizers & MRI Scanners
- There are Prospects for Market Growth, Due to the Rising Usage of Chromium in the Refractory Industry for Making Bricks & Shapes, As Chromium Has a High Melting Point, Moderate Thermal Expansion, & Stable Crystalline Structure
Challenges
- High Operational Cost Linked With the Mining May Pose a Challenge
Competitive Landscape:
The Market for Chromium Mining is Fragmented with the Presence of Many Players. Leading Players Can Adopt Strategies Like a Merger, Acquisition, & Expansion, in Order to Gain Share Within the Market. Owing to Booming Industrialization, there are Growing Prospects for the New Players to Enter the Market
Some of the key players profiled in the report are Cleveland-Cliffs, Inc. (United States), CVK Group (India), KWG Resources Inc. (Canada), African Rainbow Minerals Limited (South Africa), Merafe Resources (South Africa), Anglo Platinum Ltd (South Africa), Xstrata Plc (Switzerland), Outokumpu OYJ (Finland), Aquarius Platinum Plc (Bermuda) and AFARAK Group (Finland). Additionally, following companies can also be profiled that are part of our coverage like LanXess Chrome Mining (South Africa), Jubilee Metals Group Plc (United Kingdom), International Ferro Metals Limited (Australia), Balasore Alloys Ltd (India) and Bauba Resources Ltd (Australia). Analyst at AdvanceMarketAnalytics see African Manufacturers to retain maximum share of Global Chromium Mining market by 2025. Considering Market by Company, the sub-segment i.e. Private will boost the Chromium Mining market. Considering Market by Isotope, the sub-segment i.e. Chromium 52 will boost the Chromium Mining market.
In January 2020, Tata Steel Announced That its Wholly-Owned Subsidiary T S Alloys Limited Has Bagged Saruabil Chromite Mining Block in India for 50 Years
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Chromium Mining market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Chromium Mining market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Mining Companies, Investors, Regulatory & Government Bodies, End Use Industry and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.