![]() The demand for paint & coatings will be increasing due to applications in construction, automotive, aerospace, equipment manufacturing, consumer durables, and others. Growing global demand from the paints & coatings industry stands as an opportunity for growth in the market as the compound is widely used as pigment for various applications, such as paints & coatings, ceramics, glass products, plastics, rubber, and cosmetics. Growing Demand for Chromium Oxide from Paints & Coatings Industry to Favor Market Growth Request a Free sample to learn more about this report. Ceramic producers and the building industry as a whole are likely to face many obstacles, as most housing projects are expected to remain unfinished due to supply chain delays, cash flow constraints and shutdown of production. ![]() Many residential and non-residential building projects were forced to close. Also, a few governments have ordered the shutdown of building and construction firms across regions. The effect of the COVID-19 outbreak is slowing the building industry's growth, causing disruption and delay that can be attributed to several disrupted supply chains. The COVID-19 pandemic also has a major negative effect on the construction industry, although the legal implications vary from region to region and contract to contract. Major economies have been affected by the pandemic, resulting in a slowdown in businesses using paints & coatings. Strict government regulation for raw material production and the shutdown of manufacturing units are expected to constrain the market.ĬOVID-19 has exposed many challenges for the paints & coatings industry by impacting architectural and industrial sectors. The global shutdown has influenced mining activities and has thus created pressure on market growth. Eskolaite also constitutes a rare portion of chondrite meteorites. COVID-19 IMPACTĬhromium Oxide to Witness Significant Decline in Demand Amid PandemicĬhromium oxide naturally occurs as the mineral eskolaite in chromium-rich tremolite skarns, metaquartzite, and chlorite veins. Growing wine consumption is likely to boost the production of the wine glass bottle, which in turn is driving the market. There are plenty of different wine bottle colors out there, but the most common color is green and amber. In glass manufacturing, it is used for imparting green color to the glass. This preserves their color when exposed to high heat and sun, making them suitable for outdoor applications. ![]() Military vehicles, for example, are painted with green chrome oxide paint. Green chrome oxide is often used in industrial paints, which require a lot of wear. The properties of the product also include heat stability and dispersibility. The compound has properties, such as wear resistance, abrasion resistance, and resistance to chemicals, making it suitable for use in applications, such as coatings, paints, ceramics, glass, inks, and can be used as a catalyst. It is known as chromia and chrome green due to its green color. Based on our analysis, the global market exhibited a decline of 0.9% in 2020 as compared to 2019.Ĭhromium oxide, an inorganic compound, is available in many forms, such as powder, nanopowder, pellets, and pieces. The global COVID-19 pandemic has been unprecedented and staggering, with chromium oxide experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The market is projected to grow from USD 544.94 million in 2022 to USD 740.30 million by 2029, exhibiting a CAGR of 4.5% during the forecast period. The global chromium oxide market size was valued at USD 526.86 million in 2021.
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