Stainless steel dominance: Chromite is the key alloy in the production of stainless steel, accounting for over 75% of global chromite consumption. It is mainly used in construction, automobiles, consumer goods, and aerospace industries. The global stainless steel production is expected to increase by 1.8% in 2024 and 1.9% in 2025. China and India, due to rapid urbanization and strong demand for infrastructure projects, account for 38.8% of the Asia-Pacific market share.
Other applications: Chromite is used in refractory materials (such as furnace linings and kilns) and high-temperature alloys to enhance heat resistance; it is also used in metal coatings to increase surface hardness and corrosion resistance, and is applied in cutting tools and wear-resistant plates.
New demand: The aerospace and defense sectors have seen an increase in demand for chromite, which is used to manufacture jet engines, turbine rotors and stator blades due to its high-temperature resistance and corrosion resistance. The production of connectors and terminals for smartphones and laptops has also driven the demand for chromite (global mobile users are expected to reach 7.49 billion by 2025).
