Chromite ore is a form of iron chromium oxide (FeCr2O4). It is the primary source of chromium used in the production of chromium chemicals, alloys, and other related products. Chromium is a key component of many modern technologies, from stainless steel to anti-corrosion coatings to glass pigments and catalysts used in environmental clean-up and pollution control efforts. Chromite ore is also essential for the production of chromium compounds used in the leather tanning and leather finishing industries.
At the global level, chromite ore is primarily sourced from resources located in South Africa, Turkey, India, Finland, Iran, and the United States. The majority of ore processed is used in stainless steel production and other steel applications. South Africa and Turkey currently dominate chromite ore production, accounting for approximately 70 percent of global production. Other major producers include India, Finland, Iran, and the United States.
The global Chromite Ore market was valued at US$ 7618.4 million in 2022 and is anticipated to reach US$ 10980 million by 2029, witnessing a CAGR of 5.3% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Chromite Ore Market available at: https://www.themarketreports.com/report/global-chromite-ore-market-research-report
This report aims to provide a comprehensive presentation of the global market for Chromite Ore, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Chromite Ore.
South Africa South Africa is the world’s largest source of chromite. Historically it has accounted for approximately 72 percent of global reserves.China accounted for just under 40% of global ferrochrome output.
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