Automotive Chromium Finishing Market Size, Trends, Forecast 2033
Overview and Scope
Automotive chromium finishing refers to adding chromium metal objects to an automobile. Chromium finishing is used to prolong the life of metal or technical parts and reduce wear and tear.
Sizing and Forecast
The automotive chromium finishing market size has grown steadily in recent years. It will grow from $4.23 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The growth in the historic period can be attributed to aesthetic and corrosion resistance demand, luxury automotive trends, regulatory compliance, aftermarket customization, increased vehicle production.
The automotive chromium finishing market size is expected to see steady growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to electric vehicle design trends, focus on sustainable finishing processes, emerging market growth, connected and autonomous vehicles, shift towards non-hexavalent chromium. Major trends in the forecast period include advancements in chromium plating technologies, matte finishes and color variations, collaboration with automotive designers, recyclability and circular economy practices, strategic partnerships for research and development.
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Segmentation & Regional Insights
The automotive chromium finishing market covered in this report is segmented –
1) By Base Material: Metal, Plastics
2) By Process: Decorative Chrome, Hard Chrome
3) By Vehicle: Passenger Car, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV), Two-Wheelers
4) By End-User: Automotive Original Equipment Manufacturer (OEM), Automotive Aftermarket
Asia-Pacific was the largest region in the automotive chromium finishing market in 2023. The regions covered in the automotive chromium finishing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing sales of luxury vehicles are expected to propel the growth of the automotive chromium finishing market going forward. Luxury vehicles are vehicles with additional amenities for the driver’s comfort and status. Chromium finishing, with its dazzling, brilliant surface, and corrosion-resistant qualities, lends luxurious and traditional elegance to luxury vehicles. For instance, in December 2022, according to Cox Automotive, a US-based automobile company, with an increase to 18.2% of overall sales in November from 17.8% in October, the share of luxury vehicles will still be historically high. Therefore, the increasing sales of luxury vehicles are driving the growth of the automotive chromium finishing market.
Key Industry Players
Major companies operating in the automotive chromium finishing market report are Atotech Deutschland GmbH, Sarrel Group, MacDermid Incorporated, COLLINI GRUPPE, Collini GmbH, Eakas Corporation, Synergies Castings Limited, MVC Holdings LLC, Techmetals Inc., Allied Finishing Inc., United States Chrome Corporation, Chem Processing Inc., Electro-Spec Inc., Micro Metal Finishing LLC, Borough Ltd., Taiyo America Inc., Hadronics Inc., Roll Technology Corp., Valley Chrome Plating Inc., SAT Plating LLC, FH Lambert Limited, American Electroplating Company, Rotorua Electroplaters Ltd., Ogawa Asia Co. Ltd., Kakihara Industries Co. Ltd., Chromium Inc., Ultra Plating Corporation, Pentrate Metal Processing Inc., Pentrate Metal Processing, Seminole Metal Finishing Inc.
The automotive chromium finishing market report table of contents includes:
1. Executive Summary
2. Automotive Chromium Finishing Market Characteristics
3. Automotive Chromium Finishing Market Trends And Strategies
4. Automotive Chromium Finishing Market – Macro Economic Scenario
5. Global Automotive Chromium Finishing Market Size and Growth
……………
32. Global Automotive Chromium Finishing Market Competitive Benchmarking
33. Global Automotive Chromium Finishing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Chromium Finishing Market
35. Automotive Chromium Finishing Market Future Outlook and Potential Analysis
36. Appendix
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