Chrome Price Trend, Supply & Demand, Forecast | IMARC Group

 

Chrome Price in China

• China: $269/MT (Chrome, Lump, 38%)

In the second half of 2023, the average price of chrome in China was 269 USD/MT.

The latest report by IMARC Group, titled "Chrome Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of chrome price trend. This report delves into globally, presenting a detailed analysis, along with informative price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Chrome Prices December 2023:

• China: $269/MT (Chrome, Lump, 38%)

Report Offering:

• Monthly Updates: Annual Subscription
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The study delves into the factors affecting chrome price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Request For a Sample Copy of the Report: https://www.imarcgroup.com/chrome-pricing-report/requestsample

Chrome Price Trend- Q4 2023

Chrome, also referred to as chromium, is a steely, bright-colored metal that is highly reflective. It is often alloyed with other metals to impart specific properties, such as in stainless steel production, where it enhances resistance to corrosion. It increases the hardness and wear resistance of metals when used in alloys, which makes it valuable in applications where durability and longevity are crucial, such as in tools, bearings, and automotive components. It also improves the heat resistance of alloys, making them suitable for high-temperature applications like in gas turbines, jet engines, and industrial furnaces. It is an essential trace element in the human diet and plays a role in glucose metabolism. It is used in electroplating to provide a shiny, reflective surface on steel and aluminum. It is also utilized in various industrial processes due to its stability and catalytic properties.

Chrome Industry Analysis

Presently, rapid urbanization in emerging economies and the need for modern infrastructure, such as bridges, buildings, and transportation, require materials like stainless steel, which contains chromium. This represents one of the key factors propelling the growth of the market. Additionally, continuous innovations in metallurgy and material science that can improve the properties and applications of chromium alloys are expanding their use in new technologies and industries. In line with this, chrome alloys are essential in automotive manufacturing, particularly for parts that require high strength, corrosion resistance, and aesthetic appeal. This, along with the thriving automotive industry worldwide, is bolstering the market growth. Moreover, the growing utilization of chrome in various industrial applications beyond stainless steel, such as in aerospace components, industrial equipment, and machinery, is offering a favorable market outlook. Besides this, the need for environmental remediation and pollution control is catalyzing the demand for chromium compounds used in water treatment, soil remediation, and other environmental applications.

Furthermore, governing agencies and the private sector in several countries are investing in infrastructure projects, such as transportation networks, utilities, and industrial facilities, driving the demand for materials like stainless steel, which is strengthening the growth of the market. Apart from this, the increasing employment of chrome alloys in the energy sector for components in power generation, oil and gas extraction, and renewable energy technologies is stimulating the market growth.

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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