Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
Chromium Oxide Price Trend Analysis 2026: Price Drivers, Historical Prices, Supply Demand Analysis, Latest News & Market Insights
Written ByUdeesha Tomar
Chromium Oxide Price Trend H2 2023
Chromium oxide finds widespread use as a pigment in the manufacturing of paints, ceramics, and plastics due to its vibrant green color and excellent lightfastness properties. Moreover, it serves as a crucial component in the production of refractory materials, catalysts, and polishing agents. The demand for chromium oxide is primarily driven by the construction, automotive, and aerospace industries, where its corrosion-resistant properties and durability are highly exploited.
The first half of 2023 did not prove to be very beneficial for the chromium oxide prices, and the same scenario of market dynamics was observed during the H2 of 2023, too. These weak fundamentals of the market were based on the slow growth rate of the downstream construction and aerospace sectors worldwide. Further, due to the rising tensions at European ports amid the ongoing Israel-Hamas crisis and re-routing of many trade routes, the paints, ceramics, and chemical manufacturing sectors also faced the loss of trade due to which they reduced their procurement of chromium oxide, leading to a southward movement of chromium oxide price trend.
Analyst Insight
According to Procurement Resource, the price trend of Chromium Oxide is estimated to face a continuous string of challenges consisting of limited trading activities, rising inflationary pressure, and subdued procurement from the downstream industries.
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Chromium Oxide or Chromia is a naturally occurring stable coloring agent used as a pigment primarily in glass, ink, paint, etc industries. Though it is present in nature, the quantities are in trace amounts, so it is also produced in laboratories with the help of sodium dichromate and sulphur. Hence, the prices also largely depend on these feedstock materials along with the downstream demands from the construction sectors.
After rising high for most of the year 2022, the Chromium Oxide prices started declining in the last quarter (of 2022), following the sodium dichromate prices and continued declining till the end of Q2 in 2023 since the consuming sectors were struggling gravely.
In Asia, the aftereffects of the COVID-19 pandemic were still rough, and Europe was witnessing a war, so the markets faced high inflation, raising the costs of almost all commodities. As the demand reduced and the unused products kept lying in the inventories, the suppliers reduced the prices to vacate the stocks in hopes of positive product movements. Overall, the price trend of Chromium Oxide remained in a slump throughout the said period.
About Chromium Oxide
Chromium oxide, also known as chromia, is an inorganic compound. Chromium oxide owns a corundum structure, with a hexagonal close-packed array of oxide anions, along with two-thirds of the octahedral holes filled by chromium. Similar to corundum, chromium oxide is a tough, brittle material. It is not readily attacked by acids.
Chromium Oxide Product Detail
Chemical Formula
Cr2O3
Industrial Uses
Colorant for glass, inks, paints, Construction and building materials
Synonyms
Chromic acid, chromium salt
Supplier Database
Venator Materials LLC, Sun Chemical Corporation, Elementis plc, Hebei Chromate Chemical Co. Ltd., MidUral Group, LANXESS Aktiengesellschaft, American Elements Corp.
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Chromium Oxide Production Processes
- Production of Chromium Oxide from Sodium Dichromate
Sulphur reacts with sodium dichromate at high temperatures and reduces it, resulting in the production of chromium oxide and sodium sulphate.
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