What is Chromic Acid Market Scope?
Chromic Acid also known as Tetraoxochromic acid is a concentrated mixture of sulphuric acid added to the dichromate. This mixture comprises of solid chromium trioxide and other minor compounds. The chromic acid can be formed into two major sub products, which are dichromic acid and molecular chromic acid. Chromic acids physical properties make it an excellent detergent especially for glass cleaning. Other than that the major application of chromic acid is for coating. Geographically, Asia Pacific is expected to emerge as the biggest market of chromic acid.
The Chromic Acid market study is being classified, by Application (Coating, Detergent and Others) and major geographies with country level break-up.
Analysts at AMA predicts that Vendors from China will contribute to the maximum growth of Global Chromic Acid market throughout the predicted period.
Lanxess AG (Germany), Hunter Chemical, LLC (United States), Sisecam Chemicals (Turkey), Elementis Plc (United Kingdom), MidUral Group (Russia), Atotech (United Kingdom), Sun Chemical (United States), Chongqing Minfeng Chemical Co., Ltd. (China), China National Bluestar Co, Ltd. (China) and Hubei Zhenhua chemical Co., Ltd. (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sichuan Chemical Group Co., Ltd. (China), Hebei Chromate Chemical Co., Ltd. (China) and Vishnu Chemicals Ltd. (India).
Analyst at AMA have segmented the market study of Global Chromic Acid market by Type, Application and Region.
On the basis of geography, the market of Chromic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2020, Lanxess AG, the German Speciality chemicals manufacturer has announced completion of selling of its chrome chemicals business to Brother Enterprises, which is China based leather manufacturer. The move was made to focus on development of other businesses.
In 2020, Sun Chemical, which is a subsidiary of DIC Corporation and is famously known as world’s largest producer of printer inks and pigments has announced completion of acquisition of Sensient Imaging Technologies. The new acquisition will expand DIC and Sun chemical’s inkjet ink capabilities along with other complimentary technologies.
Influencing Market Trend
- Coating Accounts for Largest Market Share
- Growth in the End User Industries
- Increasing Industrialisation has led to Growing Demand for Coating and Painting which indirectly has led to Growth of Chromic Acid
- Developing Countries in Africa and Latin America has Huge Opportunity to Grow
- The Chemical is Considered Hazardous to Environment
- Large Number of Local and Global Players Manufacturing Chromic Acid are Present in the Market
Key Target AudienceChromic Acid Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industries and Others
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To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.
Frequently Asked Questions (FAQ):
1. At what growth rate would the Chromic Acid market expands?
The Global Chromic Acid market is expected to see a growth of % during projected year 2020 to 2026.
2. Who are the prominent players of the Global Chromic Acid market?
The prominent players of Global Chromic Acid market are Lanxess AG (Germany), Hunter Chemical, LLC (United States), Sisecam Chemicals (Turkey), Elementis Plc (United Kingdom), MidUral Group (Russia), Atotech (United Kingdom), Sun Chemical (United States), Chongqing Minfeng Chemical Co., Ltd. (China), China National Bluestar Co, Ltd. (China) and Hubei Zhenhua chemical Co., Ltd. (China), to name a few.
3. What are the top priorities to focus for Chromic Acid market’s growth?
In this highly competitive & fast evolving Chromic Acid industry, the top strategic priorities would remain consistent like innovation, R&D and M&A.