by Freedonia Focus Reports Team
October 31, 2023
Production of machinery, building products, and varied transport equipment to underlie growth
Cleveland OH, October 31, 2023 — US demand for chromium ferroalloys and metal is forecast to see minimal annual growth in volume terms through 2027, according to Chromium: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by growth in stainless steel production, supported by expected production gains in machinery, building products, and motor vehicles. However, concerns over the health effects of chromium and its production, particularly hexavalent chromium (chromium-6), will limit gains.
Among end uses for chromium, demand in stainless and heat-resisting steel is forecast to remain dominant but flat to 2027. A decline will occur in 2023, resulting from falling production in end-use markets, such as construction and motor vehicle and durable goods production. However, these markets are expected to return to growth after 2023 and spur demand in subsequent years. Domestic production of stainless steel will also continue to benefit from the US tariffs on steel imports. Demand for chromium in superalloy end uses is expected to outpace all other discrete segments at 3.1% per year to 2027. Increasing output of aerospace, marine, and power generation equipment will stimulate demand for superalloys. The development of new superalloys containing chromium with highly sought-after properties will also support demand. However, intensifying efforts by superalloy users to switch to alternative materials such as carbon- and ceramic-composites, particularly in aerospace and turbine industries, will prevent faster gains.
These and other key insights are featured in Chromium: United States. This report forecasts annually to 2027 US chromium demand in metric tons of chromium content. Total demand is segmented by material in terms of:
high-carbon ferrochromium
low-carbon ferrochromium
other materials such as chromium metal, and ferrochromium silicon
Total demand is also segmented by end use as follows:
stainless steel and heat-resisting steel
other steel
superalloys
other alloys and uses such as aluminum alloys, cobalt alloys, and nickel alloys
To illustrate historical trends, total demand, trade, and the various segments are provided in annual series from 2012-2022.
Demand represents the net weight of chromium-containing materials consumed in the US. Chromium is defined as chromium ferroalloys and chromium metal. Chromite ore, foundry sand, refractories, chromium chemicals, and same-site reuse of stainless steel scrap are excluded from reported demand figures.
More information about the report is available at:
https://www.freedoniagroup.com/freedonia-focus/chromium-united-states-ff65011.htm
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Metals, Minerals, & Glass reports can be purchased at Freedonia Focus Reports.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
total historical market size and industry output
segmentation by products and markets
identification of market drivers, constraints, and key indicators
segment-by-segment outlook in five-year forecasts
a survey of the supply base
suggested resources for further study
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