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Impact of Covid-19 on Chromium Nitride Powder Market

 

Chromium Nitride Powder: Introduction

·         Chromium nitride powder is a chemical compound of chromium and nitrogen, and has the formula CrN. It is very hard and black powder and offers significantly high resistance to corrosion. Chromium nitride powder is utilized as a coating material for corrosion-resistance and in metal forming and plastic molding applications. Chromium nitride powder is also used on medical implants and tools.

Key Drivers of Global Chromium Nitride Powder Market

·         The market for chromium nitride powder is expected to expand at a significant pace during the forecast period. Expansion of the aviation, medical, and automotive sectors is expected to drive the demand for chromium nitride powder.

·         Chromium nitride powder provides significant corrosion-resistance and high thermal and electrical conductivity. This powder is also used for electrical conducting and hard materials.

·         Chromium nitride powder is employed in aviation alloys and special alloys additives. Chromium nitride powder based coating is utilized on medical implants as a coating material for corrosion resistance. Moreover, it is also utilized in metal forming and plastic molding applications.

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Aviation End-use Industry Segment to Dominate the Global Market

·         In terms of volume, the aviation segment is expected dominate the chromium nitride powder market during the forecast period. Increasing investment in aviation primarily across developing and emerging economies has been a key factor driving the demand for chromium nitride powder as an anti-corrosion coating.

·         Chromium nitride powder is utilized for wear-resistant applications on cutting tools, hard alloy, and medical implants

Availability of Various Substitutes to Hamper Global Market

·         Availability of various materials to be used as anti-corrosion coating is expected to hamper the demand for chromium nitride powder. Various resins, such as polyurethane and epoxy, and acrylic based anti-corrosion coatings are employed as major alternatives for chromium nitride powder. Furthermore, other nitride compounds such as TiN, ZrN, and TaN are utilized as substitute for chromium nitride powder.

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Covid-19 Impact on Chromium Nitride Powder Market

·         The prevailing COVID-19 pandemic has led to weakened demand for paints and coatings in automotive, construction, electronics, and aviation industries. The path to recovery of for these industries is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe.

·         However, reliving restrictions and slowly starting services and production facilities of various aviation, automotive, and metalworking sectors are expected to fuel the demand for chromium nitride powder in these sectors

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North America to Hold Significant Share of Global Chromium Nitride Powder Market

·         In terms of region, the global chromium nitride powder market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         North America is anticipated to hold a notable share for the global chromium nitride powder market during the forecast period. Rising production of various aviation and automotive equipment is driving the chromium nitride powder market in North America.

·         The market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period, owing to the well-established automotive and metalworking industries in the region. China, India, Japan ASEAN countries, and Australia are expected to contribute significantly to the expansion of the market in the region.

Key Players Operating in the Market

The global chromium nitride powder market is consolidated with several large players operating in the global market. However, presence of a small- and medium-sized domestic players makes the market highly competitive. Key players operating in the global chromium nitride powder market include:

·         Shanghai Greenearth Chemicals Co., Ltd

·         Beijing Youxinglian Nonferrous Metals Co., Ltd.

·         JAPAN NEW METALS CO., LTD.

·         H.C. Starck GmbH

·         Shanghai Xinglu Chemical Technology Co., Ltd.

·         Zhejiang Yamei Nano Technology Co., Ltd.

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