India Chromium Market (2024-2030) Outlook | Industry, Revenue, Value, Analysis, Share, Growth, Forecast, Trends, Size & Companies

Market Forecast By By Application (Chemical, Metallurgical, Refractory, Other Applications) And Competitive Landscape

Product Code: ETC204096	Publication Date: Aug 2023	Updated Date: May 2024	Product Type: Market Research Report
Publisher: 6Wresearch	No. of Pages: 60	No. of Figures: 40	No. of Tables: 7

India Chromium Market Competition 2023

India Chromium market currently, in 2023, has witnessed an HHI of 7839, Which has increased substantially as compared to the HHI of 1938 in 2017. The market is moving towards Highly concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

India Export Potential Assessment For Chromium Market (Values in USD Thousand)

India Chromium Market Synopsis

India is one of the largest producers and consumers of chromium in the world. The chromium market in India has been witnessing a healthy growth over the years due to its increasing usage in various industries such as automotive, construction, energy etc. In 2018-19, India produced about 67521 metric tons (MT) of ferrochrome and 9168 MT of chrome ore. It is expected that by FY 2025, India will become the second largest producer after China with an estimated production capacity of 3 lakh tonnes per annum (TPA).

Market Drivers

The major drivers for growth in the India Chromium Market are growing demand from automotive industry owing to stringent emission norms; rising population coupled with rapid urbanization; high investment activity seen across various sectors like infrastructure development and power & energy sector; government initiatives encouraging public-private partnerships for infrastructure projects; increased industrial activities leading to higher domestic consumption; easy availability of raw materials such as manganese ore & other alloys at low cost. Moreover, Government policies such as Make in India campaign have also contributed towards boosting local manufacturing which has further accelerated chromium consumption rate within country.

Challenges of the Market

However, there are certain challenges faced by this market mainly due to shortage of skilled labor force and lack of technologically advanced processing plants which can lead to an increase in overall operational costs affecting margin profitability. Other than this factors like environmental regulations regarding proper disposal or recycling methods being adopted for used metals may pose additional bottlenecks hindering further technological advancements required for better resource utilization efficiency. Additionally volatile prices of commodities related to mining operations like fuel oil , coal etc might also result into unexpected price fluctuations causing instability among traders operating within this sector.

Key Players in the Market

Some key players operating within India Chromium Market include IMFA Group , Tata Steel Limited ,Vedanta Resources plc., Sesa Goa Limited , Jindal Stainless Limited amongst others who hold significant share through their captive mines. Furthermore some secondary players providing technology based solutions necessary while refining these metals include TechnoSteel Alloys Pvt Ltd., Shree Metaliks Ltd., Essar Steel Algoma Inc., among few others contributing towards greater value addition process taking place domestically.

COVID-19 Impact on the Market

The Covid-19 pandemic has greatly impacted many markets around the world including those linked directly or indirectly with chromium production or consumption chain. This includes closure/restrictions.

Key Highlights of the Report:

India Chromium Market Outlook
Market Size of India Chromium Market, 2023
Forecast of India Chromium Market, 2030
Historical Data and Forecast of India Chromium Revenues & Volume for the Period 2020-2030
India Chromium Market Trend Evolution
India Chromium Market Drivers and Challenges
India Chromium Price Trends
India Chromium Porter's Five Forces
India Chromium Industry Life Cycle
Historical Data and Forecast of India Chromium Market Revenues & Volume By By Application for the Period 2020-2030
Historical Data and Forecast of India Chromium Market Revenues & Volume By Chemical for the Period 2020-2030
Historical Data and Forecast of India Chromium Market Revenues & Volume By Metallurgical for the Period 2020-2030
Historical Data and Forecast of India Chromium Market Revenues & Volume By Refractory for the Period 2020-2030
Historical Data and Forecast of India Chromium Market Revenues & Volume By Other Applications for the Period 2020-2030
India Chromium Import Export Trade Statistics
Market Opportunity Assessment By By Application
India Chromium Top Companies Market Share
India Chromium Competitive Benchmarking By Technical and Operational Parameters
India Chromium Company Profiles
India Chromium Key Strategic Recommendations