Market Overview:
The global chromium steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for chromium steel from various end-use industries, such as construction, automotive, shipbuilding and machinery. Chromium steel is a type of alloy that contains high levels of chromium and molybdenum. These steels are known for their superior toughness, strength and wear resistance properties as compared to other types of steels. They are also resistant to corrosion and oxidation in high-temperature environments. Some of the key players operating in this market include ArcelorMittal (Luxembourg), JFE Holdings Inc (Japan), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea) and Tata Steel Limited (India).
Product Definition:
Chromium steel is a type of alloy steel that contains significant amounts of chromium. It is also known as Cr-steel, chrome-steel, or corrosion resistant steel. Chromium increases the corrosion resistance of the steel and thus its ability to resist rusting.
12CrMo:
12CrMo is a type of chromium steel that contains about 12% carbon content by weight. It has excellent properties such as high tensile strength, hardness, and wear resistance. The material is used in various applications due to its ability to form stainless steel-like carbides at an affordable price point.
The global market for 12CrMo is expected to witness significant growth over the forecast period owing to increasing demand from end-use industries including automotive and construction equipment manufacturing.
20CrMo:
20CrMo is a type of Chromium steel that contains 20% carbon content by weight. It has high carbon content which makes it stronger than conventional chromium steels. 20CrMo offers good wear resistance, corrosion resistance and hardness along with being easy to machine and having a good strength-to-weight ratio.
Application Insights:
The construction application segment led the global chromium steel market in 2017 and is projected to witness significant growth over the forecast period. Chromium steel finds applications in form of bars, rods, sheet and coil for use in structural components of buildings such as columns, beams, girders and trusses. It is also used for manufacturing reinforced concrete where it acts as a modifier metal.
Chromium content greater than 12% provides corrosion resistance to these products which enables their use in marine environment without protective coatings or external paints. The automotive industry uses chrome-molybdenumsteel (CM/SM) with a minimum yield strength of 35 MPa for heavy-duty vehicles owing to its high tensile strength compared to that of other steels like carbon or low alloyed ones.
Regional Analysis:
Asia Pacific was the largest market in 2016 and accounted for a share of over 50% owing to increasing construction spending, coupled with growing automotive production. The region is expected to witness significant growth in chromium steel demand over the forecast period due to rising infrastructure investment opportunities.
The shipbuilding industry is also anticipated to witness considerable growth in Asia Pacific as several global players are shifting their focus towards this sector, which offers lucrative opportunities for business expansion. This factor will have a positive impact on industry development over the next eight years.
Europe was valued at USD X million in 2016 and is projected to grow at an estimated CAGR of XX% from 2017 to 2030 owing high product demand from Germany and U.K., coupled with moderate recovery outlook for manufacturing industries across Eastern Europe countries such as Russia and Poland.
Growth Factors:
- Increasing demand from the automotive and construction industries
- Growing popularity of stainless steel in Asia Pacific
- Rising use of chromium steel in electrical equipment and appliances
- Technological advancements that have led to the development of new applications for chromium steel products
- The increasing demand for high-strength, lightweight materials in automobiles and other transportation sectors
Scope Of The Report
Report Attributes
Report Details
Report Title
Chromium Steel Market Research Report
By Type
12CrMo, 20CrMo, 35CrMo, Others
By Application
Construction, Automotive, Shipbuilding, Machinery
By Companies
AK Steel, Sandvik, ThyssenKrupp Steel, Atlas Steels
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Chromium Steel Market Report Segments:
The global Chromium Steel market is segmented on the basis of:
Types
12CrMo, 20CrMo, 35CrMo, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Automotive, Shipbuilding, Machinery
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AK Steel
- Sandvik
- ThyssenKrupp Steel
- Atlas Steels
Highlights of The Chromium Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 12CrMo
- 20CrMo
- 35CrMo
- Others
- By Application:
- Construction
- Automotive
- Shipbuilding
- Machinery
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Chromium Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Chromium steel is a type of steel that contains chromium. Chromium is a metal that is used in the production of stainless steel and other types of high-quality metals. Chromium steel has a higher quality than other types of steel, making it ideal for use in products that require durability and strength.
Some of the major companies in the chromium steel market are AK Steel, Sandvik, ThyssenKrupp Steel, Atlas Steels.
The chromium steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Chromium Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Chromium Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Chromium Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Chromium Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Chromium Steel Market Size & Forecast, 2018-2028
4.5.1 Chromium Steel Market Size and Y-o-Y Growth
4.5.2 Chromium Steel Market Absolute $ Opportunity
Chapter 5 Global Chromium Steel Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Chromium Steel Market Size Forecast by Type
5.2.1 12CrMo
5.2.2 20CrMo
5.2.3 35CrMo
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Chromium Steel Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Chromium Steel Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Automotive
6.2.3 Shipbuilding
6.2.4 Machinery
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Chromium Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Chromium Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Chromium Steel Analysis and Forecast
9.1 Introduction
9.2 North America Chromium Steel Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Chromium Steel Market Size Forecast by Type
9.6.1 12CrMo
9.6.2 20CrMo
9.6.3 35CrMo
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Chromium Steel Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Automotive
9.10.3 Shipbuilding
9.10.4 Machinery
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Chromium Steel Analysis and Forecast
10.1 Introduction
10.2 Europe Chromium Steel Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Chromium Steel Market Size Forecast by Type
10.6.1 12CrMo
10.6.2 20CrMo
10.6.3 35CrMo
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Chromium Steel Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Automotive
10.10.3 Shipbuilding
10.10.4 Machinery
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Chromium Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Chromium Steel Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Chromium Steel Market Size Forecast by Type
11.6.1 12CrMo
11.6.2 20CrMo
11.6.3 35CrMo
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Chromium Steel Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Automotive
11.10.3 Shipbuilding
11.10.4 Machinery
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Chromium Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America Chromium Steel Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Chromium Steel Market Size Forecast by Type
12.6.1 12CrMo
12.6.2 20CrMo
12.6.3 35CrMo
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Chromium Steel Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Automotive
12.10.3 Shipbuilding
12.10.4 Machinery
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Chromium Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Chromium Steel Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Chromium Steel Market Size Forecast by Type
13.6.1 12CrMo
13.6.2 20CrMo
13.6.3 35CrMo
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Chromium Steel Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Automotive
13.10.3 Shipbuilding
13.10.4 Machinery
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Chromium Steel Market: Competitive Dashboard
14.2 Global Chromium Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AK Steel
14.3.2 Sandvik
14.3.3 ThyssenKrupp Steel
14.3.4 Atlas Steels
