The global chromium market was valued at USD 15.76 Billion in 2025. The industry is expected to grow at a CAGR of 3.00% during the forecast period of 2026-2035 to reach a value of USD 21.18 Billion by 2035.
The chromium market is witnessing a nuanced transformation, fuelled by shifting industrial priorities and material innovation. The current market outlook reflects a strong inclination towards sustainability, specialty alloys, and circular supply chains. Chromium’s utility in stainless steel continues to be the key driver, however, newer applications in aerospace coatings and green energy technology are reshaping the future market outlook.
India’s Ministry of Mines is seeking INR 2,600 crore budget to boost exploration of strategic metals, influencing the chromium market development. Simultaneously, South Africa’s Department of Mineral Resources is working on policy reforms to incentivise beneficiated chromium exports over raw ore shipments, this could stimulate more domestic value-add facilities. These policy pushes are underpinning a broader transition in how chromium is extracted, processed, and applied.
Chromium demand is also growing due to cleaner industrial practices. Companies like Nippon Yakin are introducing a novel chromium alloy for hydrogen fuel cell stacks, reducing degradation rate. Europe’s REACH regulations have further accelerated the shift towards trivalent chromium compounds in chemicals and coatings. These innovations indicate a future market led by value-added performance, traceability, and compliance.
Despite some supply chain constraints and energy cost pressures, the chromium market's fundamentals remain resilient. Chromium is no longer just a steel additive, it is becoming an enabler for high-temperature composites, low-carbon technologies, and smart surface applications across industries.
Base Year
Historical Period
Forecast Period
Chromium is a critical ingredient in the production of stainless steel, contributing to the material's corrosion resistance and durability.
Chromium is widely used in aircraft to protect seal components against galling, corrosion, and wear.
Increasing industrialisation and infrastructure development in emerging markets, particularly in Asia and Africa, drive demand for chromium.
Compound Annual Growth Rate
3%
Value in USD Billion
2026-2035
*this image is indicative*
Aerospace and EV components are driving the demand for high-purity chromium-based superalloys, accelerating the chromium market value. Tesla’s supply contracts in Indonesia include premium nichrome output for battery housing. Chromium’s corrosion resistance, particularly in nickel-based alloys, is helping manufacturers meet efficiency and weight reduction goals. The EU has reportedly committed EUR 250 million to allow companies to scale and accelerate the deployment of advanced materials, part of which involves chromium-alloy initiatives.
Hexavalent chromium’s environmental risks have led to a rapid transition towards trivalent chromium (Cr(III)) solutions in coatings, further propelling demand in the chromium market. AkzoNobel’s 2021 launch of Cr-free coil primers for automotive OEMs, backed by EU chemical safety standards, has seen rapid uptake across Europe’s mid-tier suppliers. Meanwhile, the U.S. EPA extended funding for clean plating technologies via its Pollution Prevention Grants, has encouraged SMEs to adopt Cr(III) compounds. These alternatives offer safer worker exposure levels, minimal groundwater contamination, and improved adhesion on composite materials.
As per the chromium market report, with stainless steel mills in Germany and Sweden aiming for circular economies, the concept of chromium loop recovery is gaining ground. This significantly reduces raw ore dependency. The European Commission's Circular Economy Action Plan is offering tax incentives for secondary raw material usage, propelling ferrochrome recycling into a scalable, cost-saving process. Additionally, as energy costs soar, recycled ferrochrome is becoming both a financial and ecological imperative, one that aligns with EU decarbonisation targets.
Chromium is finding new application as a key material in SOFC interconnects, especially in decentralised energy projects. Bloom Energy’s installations in South Korea and California feature chromium-alloy interconnects for superior electrical conductivity and thermal stability, indicating new chromium market growth opportunities. This use-case leverages chromium’s low oxidation behaviour at high temperatures. While still niche, its role in clean energy equipment is creating new demand verticals, beyond traditional metallurgy.
With global buyers are complying with ESG norms, traceable and ethically sourced chromium is becoming a market necessity. Recently, Trafigura and Glencore began piloting blockchain-based tracking systems for ore sources. The Responsible Minerals Initiative (RMI) now includes chromium in its assessment framework, giving chromium suppliers new incentives to adopt transparent practices. European importers, especially in Germany and France, are preferring certified, low-carbon ferrochrome, leading to premium pricing.
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The EMR’s report titled “Global Chromium Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Application
Key Insight: Metallurgy remains the largest application in the chromium market due to stainless steel’s dominance, while chromium’s heat resistance finds increasing relevance in aerospace-grade alloys. The chemicals segment is accelerating, fuelled by safer Cr(III)-based alternatives in catalysts and coatings. Refractory applications are maintaining a steady course due to chromium’s thermal durability in furnaces and kilns. The ‘others’ category, comprising niche uses in electronics, pigments, and medical devices, is emerging through innovation in compound synthesis.
Market Breakup by Region
Key Insight: As per the chromium industry report, Asia Pacific maintains its leadership in volume due to large-scale production and consumption across China and India. Europe remains compliance-led, pivoting towards recycled and trivalent chromium for value-added uses. North America, being a mature market, is indicating a revival via green manufacturing. The Middle East and Africa is the fastest-growing region due to reserves, policy shifts, and foreign direct investment. Latin America’s chromium activity is sporadic but holds potential in future mineral projects.
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By Application, Metallurgy Accounts for the Dominant Share of the Market
Metallurgy dominates the chromium market, largely driven by stainless steel and specialty alloys. Emerging uses in high-entropy alloys for naval defence and cryogenic systems are reinforcing its relevance. Recent developments like China’s naval-grade 9Cr18MoV steel demand chromium in high-purity forms for corrosion-resistant weapon systems. Chromium’s role as a hardening agent and its high melting point makes it indispensable in harsh industrial applications. Players like POSCO and ArcelorMittal are securing ferrochrome supply lines via long-term contracts.
The chemicals segment is growing rapidly, led by the replacement of toxic Cr(VI) with Cr(III) and organochromium compounds in catalysts, dyes, and plating baths, boosting the chromium market revenue. Specialty chromium catalysts are gaining ground in polymer manufacturing, especially for HDPE and LDPE. Moreover, Cr(III) compounds are being explored in pharma for glucose metabolism-related therapies. Recently, the National Library of Medicine reported that Cr(V)-Cr(III) in-situ transition system promotes ROS generation to achieve efficient cancer therapy in vivo and in vitro, indicating untapped biochemistry avenues.
By Region, Asia Pacific Holds the Leading Position in the Market
Asia Pacific dominates the global chromium market with major ferrochrome producers in China, India, and Kazakhstan. China’s aggressive stainless-steel output and India’s alloy production capacity continue to be the main consumption drivers. In 2025, India announced a strategic partnership with South Africa to ensure a ‘sustainable, resilient, and self-reliant critical minerals value chain in India’ under the National Critical Minerals Mission initiative. Meanwhile, Indonesia’s chrome ore refining infrastructure is gaining traction with FDI from Japanese alloy makers. The region’s growth is also tied to rising EV and appliance manufacturing. Asia’s affordability and volume-centric industrial ecosystems keep chromium demand high despite evolving regulations.
The Middle East and Africa region is evolving into a strategic growth hub for chromium market players, owing to the rich chromium reserves in South Africa, Zimbabwe, and Oman. Saudi Arabia's Ma’aden launched a feasibility study into local chromium alloy production aligned with Vision 2030’s downstream mining goals. Zimbabwe, under its Mines and Minerals Amendment Bill, is pushing value-added exports by restricting raw ore shipments, which is expected to multiply ferrochrome output domestically. With Chinese and Indian firms investing in beneficiation capacity, the region’s value chain is maturing rapidly. Infrastructure development under the African Continental Free Trade Area (AfCFTA) is further improving intra-regional chromium logistics.
The chromium market players are increasingly focusing on vertical integration, from mining to alloy development, to mitigate raw material price swings and logistics risks. Recyclability and low-carbon production are emerging as key differentiators. Firms are investing in electric arc furnaces powered by renewable energy to align with client ESG mandates. Blockchain for traceability, R&D in trivalent chromium, and direct ore-to-alloy modular units are becoming mainstream.
New opportunities for chromium companies lie in supplying aerospace, battery, and medical industries where specialty chromium grades are gaining traction. Key trends include EV-alloy demand, green coatings using Cr(III), circular ferrochrome recycling, fuel cell components, and blockchain-led ethical sourcing. Players who innovate in sustainable processing and offer verifiable ethical sourcing are likely to win premium contracts, especially in Europe and Japan. Joint ventures in beneficiation, digitalised quality assurance systems, and participation in green steel projects are defining future competitiveness in the market.
Founded in 1974 and headquartered in Baar, Switzerland, Glencore PLC is one of the largest global producers and marketers of chromium. The company manages integrated mining operations across South Africa and Kazakhstan, ensuring robust supply chains for ferrochrome. The firm supplies chromium to high-purity alloy makers in the EU and aerospace sectors, leveraging its trading arm to hedge risks in volatile price cycles.
Established in 2013 and based in Sohar, Al Tamman Indsil FerroChrome is a leading ferrochrome producer catering to Asia and the Middle East. The company operates a state-of-the-art smelting plant using high-efficiency submerged arc furnaces. The firm has secured long-term contracts with Indian and Japanese steelmakers, and its geographic position enables rapid turnaround on chromium exports into both African and Asian markets.
Odisha Mining Corporation Ltd, founded in 1956 and headquartered in Bhubaneswar, India, is a government-owned entity focused on mining chromite in the Sukinda valley. With one of Asia’s richest ore belts under its purview, OMC is digitising mine operations through drone surveying and AI-based ore grading. OMC plays a crucial role in supporting India’s domestic ferroalloy industry and is diversifying into eco-friendly extraction technologies.
Headquartered in Johannesburg and established in 1975, Samancor Chrome is among South Africa’s largest integrated ferrochrome producers. It operates both underground mines and smelting plants across Limpopo and Mpumalanga. The firm supplies chromium for both stainless steel and high-performance aerospace components. Samancor is also investing in tailings reprocessing to extract residual chromium, thereby improving yield and aligning with the country’s beneficiation policy goals.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Explore the latest trends shaping the Chromium Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for customized consultation on Chromium Market trends 2026.
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In 2025, the chromium market reached an approximate value of USD 15.76 Billion.
The market is projected to grow at a CAGR of 3.00% between 2026 and 2035.
Key strategies driving the market include enhancing traceability systems, investing in trivalent compound R&D, expanding recycling capacity, aligning with ESG frameworks, and forming regional beneficiation ventures to secure sustainable, high-purity chromium supply chains.
The key trends propelling the market development are the introduction of favourable government initiatives aimed at supporting the automotive sector, the growing use of chromium salts in the chemical sector, and technological advancements improving the efficiency of chromium.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major applications of chromium are metallurgy, chemicals, and refractory, among others.
The major players in the market are Glencore PLC, Al Tamman Indsil FerroChrome, Odisha Mining Corporation Ltd, and Samancor Chrome, among others.
The key challenges are volatile energy prices, geopolitical instability in key mining regions, stringent environmental norms, and growing pressure to demonstrate traceability and sustainability across the entire chromium value chain.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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