The global automotive chromium finishing market size was valued at around USD 4.4 billion in 2021 and expected to grow at a CAGR of 3.5% during the forecast period.
Automotive chromium finishing refers to the process of adding a layer of chromium or chromium compounds to the surface of automotive components or parts to improve their appearance, corrosion resistance, and durability. Chromium is a metal that is known for its high corrosion resistance, hardness, and shiny appearance, making it a popular material for finishing automotive parts such as bumpers, wheels, and trim. The process of automotive chromium finishing typically involves electroplating, which involves the use of an electric current to deposit a layer of chromium onto the surface of the part. The automotive chromium finishing market includes the suppliers of chromium plating materials, equipment, and services to automotive manufacturers and suppliers.
The COVID-19 pandemic has had a significant impact on the global automotive chromium finishing market. The pandemic led to a decline in automotive production and sales, which in turn impacted the demand for automotive chromium finishing.
During the initial stages of the pandemic, many automotive manufacturers and suppliers had to temporarily shut down their operations due to the government-imposed lockdowns and restrictions. This led to a decrease in demand for automotive chromium finishing materials and services, as well as a disruption in the supply chain.
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Market Segmentation:
The global automotive chromium finishing market can be segmented based on the following factors:
- Type: This includes various types of chromium finishing such as decorative chrome, hard chrome, and others.
- Application: The automotive chromium finishing market can be segmented based on its application in various parts of the vehicle such as wheels, bumpers, grills, mirrors, and others.
- Vehicle type: The market can also be segmented based on the type of vehicle such as passenger cars, commercial vehicles, and others.
- Sales channel: The market can be segmented based on the sales channel such as OEMs and aftermarket.
- Region: The market can be segmented based on regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Top of Form
Key Players:
Atotech Deutschland GmbH
MacDermid Enthone Industrial Solutions
Allied Finishing Solutions, Inc.
Precision Plating (Aust.) Pty Ltd.
Interplex Holdings Pvt. Ltd.
KC Jones Plating Company
Sharretts Plating Co., Inc.
Pioneer Metal Finishing
Peninsula Metal Finishing, Inc.
Roy Metal Finishing
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Regional Analysis:
- North America: The North American region, comprising the United States and Canada, is a major market for automotive chromium finishing. The increasing demand for high-quality automotive parts and the growth of the automotive industry are driving the market's growth in this region.
- Europe: The European market is expected to grow at a significant rate due to the increasing demand for automotive chromium finishing from the automotive industry in countries such as Germany, France, and the United Kingdom. The presence of major automotive OEMs in the region is also driving the market's growth.
- Asia-Pacific: The Asia-Pacific region is the largest market for automotive chromium finishing, with China, India, and Japan being major contributors to the market's growth. The growth of the automotive industry, coupled with the increasing demand for high-quality automotive parts, is driving the market's growth in this region.
- Latin America: The Latin American market is expected to grow at a steady pace due to the increasing demand for automotive chromium finishing from countries such as Brazil and Mexico. The growth of the automotive industry in these countries is driving the market's growth.
- Middle East and Africa: The Middle East and African market is expected to grow at a moderate rate due to the increasing demand for automotive chromium finishing from countries such as Saudi Arabia, UAE, and South Africa. The growth of the automotive industry in these countries is driving the market's growth.
Key Points:
- Chromium finishing is a process that involves adding a layer of chromium to the surface of automotive parts, such as wheels, bumpers, and grilles, to enhance their appearance and durability.
- The global automotive chromium finishing market is expected to grow at a significant rate over the next few years, driven by factors such as increasing demand for luxury and high-performance vehicles, growing automotive production in developing economies, and rising consumer preference for aesthetic appeal and customization options.
- Asia Pacific is expected to be the largest and fastest-growing market for automotive chromium finishing, owing to the presence of a large number of automotive manufacturers in the region, particularly in China and India.
- Chrome plating is the most common type of chromium finishing used in the automotive industry, as it provides excellent corrosion resistance and a high-gloss finish.
- However, there are concerns about the environmental impact of chromium finishing, as it involves the use of toxic chemicals and generates hazardous waste. As a result, there is increasing demand for alternative finishing methods, such as electroless nickel plating and physical vapor deposition.
- Key players operating in the global automotive chromium finishing market include Atotech, MacDermid Enthone Industrial Solutions, PPG Industries, Inc., and BASF SE, among others. These companies are focusing on product innovation, strategic partnerships, and acquisitions to strengthen their market position and expand their customer base.
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