In the second half of 2023, the average price of chromium in the United States was 12161 USD/MT. Similarly, in China, the average prices hit 8850 USD/MT.

Explore IMARC’s newly published report, titled “Chromium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of chromium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In 2024, the global chromium ore and concentrate market increased by 20% to $15.9B, rising for the fourth year in a row after two years of decline. Over the period under review, consumption posted a buoyant expansion. Over the period under review, the global market reached the peak level in 2024 and is expected to retain growth in the immediate term.

Get the latest insights on price movement and trend analysis of Chromium Oxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Ferro-Chromium Price in the United States - 2023. Find the latest marketing data on the IndexBox platform.

The price of chromium oxide in South Africa for 2023 reached 2773 USD/MT in December. Meanwhile, the price of chromium oxide in Germany during the last quarter of 2023 settled at 4416 USD/MT.

The Japanese ferro-chromium market expanded significantly to $846M in 2024, picking up by 10% against the previous year. Overall, consumption showed a mild downturn. Over the period under review, the market hit record highs at $965M in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

United States - Producer Price Index by Commodity: Chemicals and Allied Products: Chrome Colors was 98.50000 Index Dec 2008=100 in September of 2021, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Chemicals and Allied Products: Chrome Colors reached a record high of 108.50000 in December of 2014 and a record low of 94.90000 in September of 2019. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Chemicals and Allied Products: Chrome Colors - last updated from the United States Federal Reserve on July of 2025.

The North American Electrolytic Chromium Coated Steel market reflects pricing challenges in the first quarter of 2025 declining quarter on quarter, with the USA exhibiting the most significant fluctuations. Prices steadily declined throughout the quarter reflecting a negative pricing trend quarter on quarter environment shaped by multiple compounding factors. Weak market fundamentals and sluggish trading activity largely influenced the downward trajectory. Additionally, demand from core industries like construction and automotive remained subdued, adding to the pressure on pricing.

In 2024, the Indian ferro-chromium market increased by 79% to $410M, rising for the fourth consecutive year after six years of decline. Over the period under review, consumption, however, saw a slight slump. Ferro-chromium consumption peaked at $603M in 2014; however, from 2015 to 2024, consumption remained at a lower figure.

In 2020, the Indian chromium market decreased by -X% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. As a result, consumption reached the peak level of $X. From 2012 to 2020, the growth of the market failed to regain the momentum.

The global chromium market, valued at $8,061 million in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 1.5% from 2025 to 2033. This moderate growth reflects a complex interplay of factors influencing demand and supply. Key drivers include the expanding stainless steel industry, a crucial application for chromium, driven by construction, automotive, and consumer goods sectors. Furthermore, the increasing use of chromium in other specialized alloys for high-performance applications, such as aerospace and defense, contributes to market expansion. However, the market faces certain restraints. Fluctuations in raw material prices, particularly ferrochrome, which is the primary source of chromium, can impact profitability. Furthermore, environmental regulations concerning chromium mining and processing, aimed at minimizing the environmental impact of mining operations and related activities, can pose challenges for producers. Competition among established players, like Kermas Group Ltd., Glencore PLC, and Samancor Chrome, along with emerging players in regions like Africa and Asia-Pacific, further shapes the market dynamics. The market segmentation, while not explicitly detailed, likely comprises various chromium forms (ferrochrome, chromite ore, chromium chemicals) and diverse end-use industries. Technological advancements in chromium extraction and processing techniques will also influence the market's trajectory over the forecast period. The forecast period from 2025 to 2033 anticipates continued growth, though at a modest pace. The increasing global infrastructure development and industrialization will likely support market expansion. However, the industry should anticipate challenges linked to responsible sourcing, resource depletion, and the potential development of alternative materials. Strategic partnerships, technological innovation, and effective regulatory compliance will be crucial for companies to maintain competitiveness and ensure sustainable growth within the chromium market. The market's long-term outlook remains positive, supported by the ongoing demand from key industrial applications. However, managing the inherent challenges will determine the actual growth rate realized during the forecast period.

Chromium Recycling Market Outlook

The global chromium recycling market size was estimated to be around USD 3.5 billion in 2023 and is projected to reach approximately USD 8.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.1% from 2024 to 2032. The growth of this market is driven by increasing environmental regulations, the rising need for sustainable practices, and the economic benefits of recycling valuable metals.

One of the primary growth factors of the chromium recycling market is the stringent environmental regulations imposed by various governments worldwide. The adverse environmental impacts of mining and the disposal of chromium-containing waste have compelled industries to adopt recycling practices. Regulatory bodies are increasingly enforcing rules that mandate the recycling and reuse of industrial waste and end-of-life products, thus boosting the chromium recycling market. Additionally, these regulations often come with incentives or penalties, further encouraging industries to participate in recycling initiatives.

Technological advancements in recycling processes have also significantly contributed to market growth. Innovations in mechanical, pyrometallurgical, and hydrometallurgical recycling techniques have improved the efficiency and cost-effectiveness of chromium recovery. These advancements enable industries to extract higher purity chromium from waste materials, which can be reused in various high-end applications. The development of advanced recycling technologies helps in reducing reliance on primary chromium sources, thereby conserving natural resources and reducing environmental impact.

The economic benefits associated with chromium recycling are another major driver for market growth. Recycling chromium is generally less expensive than mining and processing virgin chromium ore. This cost efficiency is particularly attractive to industries such as automotive, aerospace, and electronics, where chromium is used extensively. The cost savings from recycling not only improve the bottom line for companies but also help in stabilizing supply chains, especially in regions where chromium ore is scarce or expensive to procure.

Chromium Cleaners play a pivotal role in the recycling process by ensuring that chromium-containing materials are free from contaminants before they are processed. These cleaners are specifically designed to remove impurities and prepare the chromium for efficient recycling. By using advanced cleaning solutions, industries can enhance the quality of the recycled chromium, making it suitable for high-end applications. The use of Chromium Cleaners not only improves the purity of the recycled metal but also contributes to the overall efficiency of the recycling process. As the demand for high-purity chromium increases, the importance of effective cleaning solutions becomes even more critical in maintaining the integrity of the recycled product.

In terms of regional outlook, Asia Pacific is expected to dominate the chromium recycling market throughout the forecast period. The rapid industrialization in countries like China, India, and Japan has led to increased manufacturing activities, thereby generating substantial industrial waste and end-of-life products that contain chromium. North America and Europe are also significant markets due to stringent environmental regulations and the presence of advanced recycling technologies. The Middle East & Africa and Latin America are anticipated to witness moderate growth, driven by ongoing industrial developments and increasing awareness about sustainable practices.

Source Analysis

The chromium recycling market, segmented by source, includes industrial waste, end-of-life products, and manufacturing scrap. Industrial waste constitutes a major portion of the chromium recycling market due to the significant amount of chromium discarded during various industrial processes. Industries such as electroplating, tanning, and metal finishing generate substantial chromium-containing waste, making this segment a critical source for recycling initiatives. The management of industrial waste is crucial for environmental sustainability, and recycling offers a viable solution to mitigate the detrimental effects of waste disposal.

End-of-life products also play a significant role in the chromium recycling market. Products that have reached the end of their useful life, such as automotive parts, electronic devices, and building

In 2020, after three years of growth, there was significant decline in the U.S. chromium market, when its value decreased by -X% to $X. Overall, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Chromium consumption peaked at $X in 2019, and then reduced markedly in the following year.

India WPI: Mfg: BM: Non Ferrous Metals: Others: Chromium, Chrome data was reported at 190.600 2004-2005=100 in Mar 2017. This stayed constant from the previous number of 190.600 2004-2005=100 for Feb 2017. India WPI: Mfg: BM: Non Ferrous Metals: Others: Chromium, Chrome data is updated monthly, averaging 190.600 2004-2005=100 from Apr 2004 (Median) to Mar 2017, with 156 observations. The data reached an all-time high of 216.400 2004-2005=100 in Jan 2011 and a record low of 81.700 2004-2005=100 in Mar 2006. India WPI: Mfg: BM: Non Ferrous Metals: Others: Chromium, Chrome data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under Global Database’s India – Table IN.IH071: Wholesale Price Index: 2004-05=100: Manufactured Products: Basic Metal, Alloys and Metal Products.

The EU chromium market dropped slightly to $X in 2020, waning by -X% against the previous year. Over the period under review, consumption showed a notable increase. The pace of growth appeared the most rapid in 2011 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2020, consumption stood at a somewhat lower figure.

The high-purity chromium market is experiencing robust growth, driven by increasing demand across diverse industrial applications. The market, estimated at $500 million in 2025, is projected to witness a Compound Annual Growth Rate (CAGR) of 6% from 2025 to 2033, reaching approximately $800 million by 2033. Key drivers include the burgeoning need for advanced materials in sectors such as aerospace, automotive, and electronics. The rising adoption of sophisticated manufacturing techniques like vacuum coating and plasma spraying, which heavily rely on high-purity chromium, is significantly fueling market expansion. Furthermore, the growing emphasis on enhancing the performance and durability of cemented carbide tools and components is contributing to the increasing demand for this specialized material. Segmentation within the market highlights the dominance of the 99.95% purity grade, reflecting the stringent quality requirements across various applications. The welding materials segment is currently the largest application area, followed by vacuum coating and plasma spraying. Geographically, North America and Europe are the leading regional markets, with significant growth potential anticipated from Asia Pacific, particularly China and India, owing to their rapidly expanding industrial base and increasing investments in advanced manufacturing capabilities. While the market exhibits significant promise, certain restraints exist. Fluctuations in chromium prices due to raw material availability and global economic conditions can impact market growth. Furthermore, the development of alternative materials and the potential for environmental concerns related to chromium production and usage could pose challenges in the long term. However, technological advancements focused on improving the efficiency and sustainability of chromium production processes are expected to mitigate these risks. Competition among key players, including Kohsei Co., JMC (USA), Beijing Huanqiu Jinding, and others, is further intensifying innovation and driving market expansion through product diversification and strategic partnerships. The sustained demand from key industries coupled with technological advancements ensures the high-purity chromium market will continue to expand steadily over the forecast period.

China Manganese Ore & Chromium Ore Mining & Dressing: YoY: Cost of Sales: Year to Date data was reported at -8.377 % in Oct 2015. This records a decrease from the previous number of -6.822 % for Sep 2015. China Manganese Ore & Chromium Ore Mining & Dressing: YoY: Cost of Sales: Year to Date data is updated monthly, averaging 10.776 % from Jan 2012 (Median) to Oct 2015, with 46 observations. The data reached an all-time high of 38.027 % in Apr 2013 and a record low of -8.377 % in Oct 2015. China Manganese Ore & Chromium Ore Mining & Dressing: YoY: Cost of Sales: Year to Date data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Industrial Sector – Table CN.BGB: Ferrous Metal: Manganese Ore and Chromium Ore Mining and Dressing.

The global automotive chromium plating market, valued at $1799.89 million in 2025, is projected to experience steady growth, driven by increasing demand for decorative and functional plating in the automotive industry. A Compound Annual Growth Rate (CAGR) of 4.5% from 2025 to 2033 indicates a continuous expansion of this market. Key drivers include the rising popularity of chrome-plated automotive parts for their aesthetic appeal and corrosion resistance. Growing consumer preference for luxurious vehicles with enhanced visual appeal further fuels the market's growth. Technological advancements in chromium plating techniques, focusing on enhanced durability and eco-friendly processes, also contribute to the market's expansion. Segment-wise, decorative plating currently holds a larger market share due to the widespread use of chrome in exterior trims and interior accents. However, functional plating, crucial for improving component longevity and preventing corrosion in critical parts, is witnessing significant growth. Geographically, North America and Europe are currently major markets, but the APAC region, particularly China and India, is showing strong potential due to rapid automotive production growth. Competitive landscape analysis reveals a mix of established players and emerging companies, vying for market share through strategic partnerships, technological innovations, and aggressive pricing strategies. While the market faces restraints such as stringent environmental regulations and the exploration of alternative materials, the overall outlook remains positive, fueled by the continued demand for high-quality, aesthetically pleasing, and durable automobiles. The market's growth is expected to be influenced by several factors. Fluctuations in raw material prices, particularly chromium, could impact profitability. Furthermore, the development and adoption of sustainable and environmentally friendly plating technologies will be crucial for sustained growth. Companies are increasingly focusing on research and development to mitigate environmental concerns and meet evolving regulatory requirements. This includes exploring alternative plating techniques that minimize waste and harmful emissions. Strategic acquisitions and mergers could also reshape the competitive landscape in the coming years, leading to greater market consolidation. The future success of companies within this market will depend on their ability to innovate, adapt to changing regulations, and meet the evolving demands of automotive manufacturers for cost-effective and high-performing solutions.

The global chromium trioxide market, valued at $696 million in 2025, is projected to experience steady growth, with a compound annual growth rate (CAGR) of 2.3% from 2025 to 2033. This growth is driven primarily by the increasing demand from key application sectors. The electroplating industry remains a significant consumer, utilizing chromium trioxide for its corrosion resistance and aesthetic properties in various metal finishes. The printing and dyeing industry also contributes substantially, leveraging the compound's use in textile manufacturing processes. Growth in these sectors, particularly in developing economies experiencing rapid industrialization, fuels the overall market expansion. While wood preservation continues to be a niche application, its contribution is expected to remain stable. The market is segmented by purity level (99.7%, 99.8%, 99.9%), with higher purity grades commanding premium pricing due to their specific applications in more demanding industries. Competition within the market is relatively fragmented, with several key players including Lanxess, Soda Sanayii, and Elementis vying for market share through innovation and regional expansion strategies. Potential restraints on market growth could include environmental regulations concerning chromium's toxicity and the exploration of alternative, more sustainable materials. However, technological advancements in chromium trioxide production and its application in specialized niche markets should mitigate these challenges. The Asia-Pacific region, particularly China and India, is projected to dominate the market due to their robust manufacturing sectors and increasing industrial activities. The forecast period of 2025-2033 presents opportunities for existing players to consolidate market share and for new entrants to establish a foothold. Strategic partnerships, mergers and acquisitions, and the development of innovative and environmentally friendly production processes are anticipated to shape the market dynamics. Furthermore, the focus on improving energy efficiency and reducing production costs will be critical factors for success in this competitive landscape. The market is also witnessing a shift towards higher purity chromium trioxide, indicating an increasing demand for specialized applications that require stringent quality standards. This trend emphasizes the importance of technological advancements and continuous improvement in production methods to meet the evolving needs of diverse industries.

The Latin American ferro-chromium market reached $240M in 2024, surging by 14% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $367M. From 2015 to 2024, the growth of the market remained at a somewhat lower figure.