Chromite Market

• In June 2022, Tenaris announced that it would invest nearly USD 29 million in its steel shop in Dalmine to expand the facility's capacity to produce specialty steels with a high chromium content, such as chromium 13. The investment was projected to be completed by the first part of 2023 and involve three stages of the production process.

• The chromite market also saw fluctuations in its supply chain. The COVID-19 pandemic impacted the global supply of chromite ore, with significant effects on both pricing and availability. This disruption highlighted the vulnerability of global supply chains in the chromite market, especially with key suppliers like South Africa facing logistical challenges​.

In this report, the Chromite Market has been segmented by Source, Type, Grade, Applications and Geography.

Chromite Market, Segmentation By Source

The Chromite Market is segmented by Source into Ores, Placer Deposits, Chromite Sands, Chromite Fines and Chromium-Rich Slags.

Ores

Ores dominate the market with nearly 60% contribution. Extracted from large chromite deposits, they are the key raw material for producing ferrochrome, stainless steel, and other alloys, making them the most critical source in the industry.

Placer Deposits

Placer deposits account for about 10% of chromite supply, formed through natural alluvial sedimentation. Their relatively easier extraction ensures a low-cost supply, supporting industries in regions with rich geological resources.

Chromite Sands

Chromite sands hold nearly 12% of the global market and are extensively used in foundry casting and refractory applications. Their thermal stability and corrosion resistance make them ideal for furnace linings and mold production.

Chromite Fines

Chromite fines contribute around 8% of the market, usually recovered as a byproduct of ore processing. They are utilized in pelletizing, sintering, and briquetting to improve efficiency in metallurgical operations.

Chromium-Rich Slags

Chromium-rich slags represent nearly 10% of the market, derived from metallurgical processes. They are increasingly recycled for chromium recovery, aligning with sustainability goals and reducing reliance on primary mining.

Chromite Market, Segmentation By Type

The Chromite Market is segmented by Type into High-Grade Chromite and Low-Grade Chromite.

High-Grade Chromite

High-grade chromite dominates the market with nearly 65% share. It is the primary raw material for producing ferrochrome, stainless steel, and other high-performance alloys, making it essential for metallurgical industries that demand premium quality materials.

Low-Grade Chromite

Low-grade chromite contributes around 35% of the market and is widely applied in chemical processing, foundries, and refractory applications. With beneficiation techniques, it is increasingly upgraded to meet industrial standards, supporting sustainability and efficient resource utilization.

Chromite Market, Segmentation By Grade

The Chromite Market is segmented by Grade into Metallurgical Grade, Chemical Grade, Refractory Grade, Foundry Grade and Casting Grade.

Metallurgical Grade

Metallurgical grade chromite dominates the market with nearly 55% share, primarily due to its use in producing ferrochrome and stainless steel. Increasing demand from the construction and automotive industries continues to reinforce its strong position.

Chemical Grade

Chemical grade chromite accounts for around 15% of the market and is mainly utilized in the production of chromic chemicals, pigments, and catalysts. Growth in the specialty chemicals sector and the adoption of eco-friendly processes are fueling its demand.

Refractory Grade

Refractory grade chromite holds nearly 12% share, finding applications in furnace linings, kilns, and refractory bricks. Rising investments in steelmaking and glass industries are driving segment growth.

Foundry Grade

Foundry grade contributes close to 10% of the market, widely applied in casting mold sands for the automotive and industrial machinery industries. Its superior thermal stability makes it indispensable for these applications.

Casting Grade

Casting grade chromite represents about 8% of global demand, particularly used in precision casting applications across aerospace and defense. Its ability to withstand extreme thermal shock ensures high-quality component production.

Chromite Market, Segmentation By Applications

The Chromite Market is segmented by Applications into Metallurgical, Chemical & Foundry and Refractory.

Metallurgical

The metallurgical segment dominates the chromite market with nearly 65% share, primarily due to its role in producing ferrochrome and stainless steel. Growing demand from infrastructure projects and the automotive industry sustains its strong growth trajectory.

Chemical & Foundry

The chemical & foundry segment holds about 20% of the market, driven by applications in pigments, catalysts, and casting mold sands. Its use in industrial processes and chemical manufacturing continues to expand steadily.

Refractory

The refractory segment contributes close to 15% of global demand, with significant usage in furnace linings, kilns, and refractory bricks. Increasing adoption in the steelmaking and glass industries supports its long-term market growth.

Chromite Market, Segmentation By Geography

In this report, the Chromite Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Chromite Market Share (%), By Geographical Region

North America

North America accounts for nearly 18% of the chromite market, primarily driven by the metallurgical, refractory, and aerospace sectors. The United States leads regional demand, supported by strong industrial and defense manufacturing.

Europe

Europe secures around 20% share, fueled by the automotive, chemical, and construction industries. Germany, France, and the UK dominate consumption, with an increasing focus on sustainable sourcing practices.

Asia Pacific

Asia Pacific dominates with more than 45% of global demand, led by China and India. Rapid industrialization, expansion of steel production, and growing urbanization continue to accelerate market growth in this region.

Middle East & Africa

The Middle East & Africa contribute about 12% of the market, largely due to vast chromite ore reserves in South Africa. Rising local processing capacities further enhance the region’s role in global supply.

Latin America

Latin America holds close to 5% share, with demand concentrated in industrial and metallurgical applications. Brazil leads the regional market, supported by ongoing infrastructure investments and manufacturing growth.