Chromium Carbide Market to represent a significant expansion at 5.9% CAGR by 2026

Chromium carbide is combining the chemical element carbon and chromium and is a refractory ceramic chemical compound. It has high strength, high hardness in addition to superior corrosion resistance.

Chromium carbide is utilized in a number of applications. It is employed as a wear resistant coating as a result of its resistance to corrosion and high hardness. As it is refractory, it could keep up a good point of wear resistance yet at high temperatures. One more application is like a grain development inhibitor. Once other kinds of carbides are brought about, chromium carbide is utilized as an additive to assist prevents unnecessary grain growth and betters the ruggedness of the carbide.

Chromium carbide is witnessing a fast expansion in construction, energy and the mining sectors, for instance, oil and power and gas as a result of the increasing requirement for metals, fuel sources and infrastructure and housing needs all across nations, particularly in China and emerging nations in the SEA & rest of APAC. This has resulted in a high requirement for power and gas and oil, mining equipment in addition to devices employed in construction pulp and paper glass, cement and the steel industries.

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The worldwide market for chromium carbide is projected to grow at a 5.9% CAGR all through 2018 to 2026. The market was estimated at US$ 123.3 Million and is projected to account for an evaluation of US$ 206.7 Million towards the end of 2026.

Market Segmentation

In terms of the application, the global market includes cutting tools, welding electrodes and wear & corrosion resistant coatings. The utilization of chromium carbide in welding electrode category exhibits significant advantages in the approaching years.

In terms of the region, the global market includes Europe, Latin America and Middle East & Africa (LAMEA), North America, China, South East Asia & Asia Pacific (SEA & Pacific) and Japan.

In terms of the end use industry, the global market includes energy, mining, steel, cement, glass, pulp & paper and others. The mining end use industry is expected to be the most lucrative industry in the global market throughout 2018-2026. Chromium carbide surfacing is encountered to resist oxide speed up in high-temperature ambiances for steel manufacture.

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Key Market Players

The major companies functional in the global market include

  • H.C. Starck GmbH
  • OC Oerlikon Corporation AG, Pfäffikon
  • Sigma-Aldrich Co. LLC.
  • Praxair S.T. Technology, Inc.
  • Strem Chemicals, Inc.
  • Alfa Aesar
  • ZhuZhou GuangYuan Cemented Material Co., Ltd
  • Reade International Corp.
  • Changsha Langfeng Metallic Material Co.,Ltd.
  • ESPICorp Inc.
  • NewMet Ltd.
  • LTS Research Laboratories, Inc.
  • Nanoshel LLC
  • Inframat Corporation
  • American Elements
  • Others

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