Chrome Ore Market Analysis

Type (Chromite, Chromium-rich Spar, Hard Chrome Spinel)

The chromite segment accounts for the largest revenue and has a 40% share of the chrome ore market. Chromite is an essential element that is used in the manufacture of stainless steel, to harden steel and to form iron-free high-temperature alloy. They are also used for chromium plating for surface protection. The chemical industry uses it in the production of chromium compounds for the tanning of leather.

Application (Stainless Steel, Metallurgical, Chemical & Foundry, Refractory)

Stainless steel dominates the segment and accounts for approximately 75% share of the chrome ore market whereas, 25% is being used for manufacturing chemicals, pigments, and refractories. Chromite is a primary component in the production of stainless steel. The chrome ore market is growing at a rapid pace due to its demand in the chemical, refractory, and pigment industries.

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