Chromium Market Sets in Momentum in Line with Surging Electronics Sales, and Widening Industrial Application Pool
Stainless steel is a major component of modern manufacturing industries and output. Its shine, smoothness, and corrosion resistance make it an outstanding material for usage in many industrial domains. Chromium makes up about 18% of stainless steel and is a key component in manufacturing the alloy. As for its raw materials, chromium is majorly made up of chromite which is converted into chromium salts for industrial usage. It is also used in electroplating electrical and electronic equipment. Moreover, its applications expand to printing and dyeing, catalysis, tanning, medications, oxidants, and fuels. It also helps in boosting the steel’s hardness, and oxidation resistance, and prevents corrosion. As the end-use industries of chromium continue to thrive, coupled with supportive policymaking initiatives, the demand for chromium is set to grow. This will be instrumental in enabling the expansion of the global chromium market.
𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞/𝐓𝐎𝐂 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.fairfieldmarketres....earch.com/report/chr
Increasing Sales of Consumer Electronics to Bode Well for Market Growth
Owing to chromium’s exceptional anti-corrosive qualities, the metal has quickly become one of the most optimal metals for electroplating electrical and electronic pieces of equipment. It is often used to coat electro-galvanized zinc, copper, aluminium, and steel. In the recent past, the demand and production of electronic equipment have grown by leaps and bounds. Several consumer electronics industry participants are dedicated resources to leverage this opportunity. New market strategies are being applied to maintain a stronghold in the electronics domain. Such trends are expected to elevate the demand for electroplating which uses chromium. To this end, the global chromium market is set to thrive in the forecast period.

Paced Demand for Electric Vehicles to Unlock New Avenues of Growth
The automotive industry is one of the biggest and most fructuous end-use industries of chromium. Moreover, the sales of automobiles are expected to increase by a significant margin globally in the foreseeable future. The surging demand for electric vehicles is unlocking new opportunities for the global chromium market. The research and development efforts to improve the versatility and performance of electric vehicles are positively impacting the market. Chromium is being used extensively for conversion coatings and electroplating the exterior and interior parts of EVs. Against this backdrop, the demand for chromium is poised to reach new levels during the study period.
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Asia Pacific to Lead Chromium Market Owing to Thriving Manufacturing Sector
Increasing demand for products made up of stainless steel is prolonging the growth momentum of the chromium market in Asia Pacific. Chromium is an integral part of commercial-grade stainless steel and is used to add hardening and corrosion resistance to the material. Besides, the thriving end-use industries such as automotive, aerospace, electronics, construction, and defence are further facilitating the regional market expansion. Japan has emerged as a notable economy in maintaining these favourable market conditions on account of its upsurging crude steel production.

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Major Market Participants
Some of the key players in the global chromium market include CVK Group, Kermas Group Ltd., Hernic Ferrochrome Ltd., GULF Mining Group LLC, Eurasian Natural Resource Corporation, Glencore PLC, AI Tamman Indsil Ferro Chrome LLC, and Odisha Mining Corporation.
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Fairfield Market Research Estimates 6.5% Growth in Revenue for Titanium Alloy Market over 2022 – 2029

Metals are one of the fundamental building blocks of any manufacturing-oriented industry. Verily, different types of metals are used for a wide variety of applications. As their demand within these industries upsurged consistently, several niche use cases have started to emerge for more sturdy metal alloys. Among these, titanium is quickly emerging as a major alloy due to its numerous functional benefits. For instance, the aviation industry is particularly employing titanium as it is extremely lightweight, strong, and corrosion resistant. Titanium alloys are also used in industrial equipment such as distillation plants, and reactors along with several other industries. These developments are becoming the foundation for the exceptional growth of the global titanium alloy market in the study period.

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Noteworthy Application in Aerospace and Military Domains to Create Growth Prospects

The aerospace industry is one of the major end-use industries of titanium alloys. This metal is a leading choice of metal for manufacturing commercial as well as military aircraft. Aerospace and military applications are the leading end-users of the market, boasting a combined contribution of over 50% of the total titanium alloy consumption. With the development of next-gen engines and aircraft models, the demand for cutting-edge titanium alloys is projected to break new ground. Several industry entities are funding robust research and development projects to utilise titanium alloys in next-gen aviation. In addition, these alloys are also used in chemical, power generation, medical implants, and consumer goods industries, thereby facilitating the global titanium alloy market expansion.

Asia Pacific to Dominate Titanium Alloy Market Owing to its Considerable Manufacturing Prowess

Asia Pacific is emerging as the leading regional titanium alloy market with over 35% market share. Major economies such as India and China are directing funds into developing their own aerospace components for avionics, military purpose, and space exploration. Moreover, these countries are leading manufacturing hubs in the world with significant usage of titanium alloys. Particularly, China is the biggest titan alloy manufacturer and consumer in the world. In addition, Russian and Japan are also fulfilling notable titanium alloy demands on their end. Meanwhile, North America is also emerging as a key regional market. Its promising research and development efforts in the aerospace industry are the leading factors behind this situation.

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Major Market Entities

Key players in the global titanium alloy market include Precision Castparts Corp. (PCC), Allegheny Technologies Incorporated (ATI), Western Superconducting Technologies Co, Ltd. (WST), Kobe Steel, Ltd., Western Metal Materials Co. Ltd. (WMM), UKTMP JSC, Toho Titanium Co., Ltd., Hermith GmbH, Howmet Aerospace Inc., Mishra Dhatu Nigam Limited (MIDHANI), ERAMET Group, Baoji Titanium Co. Ltd., Oric Italiana S.r.l., Xinjiang Xiangsheng New Material Technology Co., Ltd., ZTMC Ltd., and C.M.A. S.A among others.

According to the recently published report of Fairfield Market Research, the global titanium alloy market is set to exhibit a CAGR of 6.5% between 2022 and 2029. Realizing this promising growth momentum, the market is likely to grow from its 2021 valuation of US$4.3 Bn to around US$8.4 Bn by the end of 2029.

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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

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The onslaught of new variants of the corona virus across the globe has increased the use of facemasks for protection against infection and curbing spread of the virus. Governments of all countries have mandated the use of face masks as a personal and public health measure. N95 protective face masks provide the highest level of protection against infections transmitted through breathing. They filter out large and small particles at the time of inhalation. Hence, these masks have been increasingly employed to control transmission of the virus in social communities and healthcare facilities. The World Health Organization (WHO) reported the need to increase mask production by 40% in order to satiate global demands. As governments continue to levy mask restrictions, nations are restricting exports in order to meet local demand, thus, causing shortages in countries depending upon imported stocks. Rising demand for N95 protective face masks has rendered a process of increased production, globally.
Fairfield Market Research has estimated the global N95 medical protective masks market to grow from US$ 1,159.4.0 Mn in 2020 to US$1,994.8.0 Mn by 2026, registering an astounding CAGR of 9.5% during the forecast period. The principal causes pushing the growth of the face mask market comprise the outbreak of the COVID-19 pandemic, the increase in user awareness concerning the significance of face masks, and the social media outpour to support the trend of wearing masks.
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Global omega 3 market that surpassed the valuation of US$4.4 Bn in the year 2019 is likely to reach the revenue of around US$13 Bn toward the end of 2027. In its latest published report, Fairfield Market Research forecasts a robust 14.6% CAGR for omega 3 market over the period of projection, 2021 – 2027. The growth of fortified foods across international markets and increasing worldwide focus on mother-and-new-born nutrition products will uphold the growth of global omega 3 market. Rapid expansion of health food sector will keep demand for omega 3 afloat. An expanding nutraceuticals market will also remain a significant driving force for the market, suggests the report.

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Perceived health benefits continue to drive the growth of global coconut oil market. A newly published report on global coconut oil market suggests that the market will most likely witness around 5.7% rise in revenue between 2022 and 2029. During the period of projection, coconut oil market is expected to benefit from growing applications of the oil for its high saturated fat content, and rich nutritional profile, across both food, and non-food areas. An approximately US$5.3 Bn market (2021) for coconut oil is estimated to reach US$8.2 Bn toward the end of 2029, says the report.

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