Global Automotive Chromium Finishing Market Size By Base Material, By Vehicle, By End User, By Geographic Scope And Forecast

Automotive Chromium Finishing Market Size And Forecast

Automotive Chromium Finishing Market was valued at USD 3.90 Billion in 2019 and is projected to reach USD 4.65 Billion by 2027, growing at a CAGR of 2.2% from 2020 to 2027.

Hey, it looks like the Global Automotive Chromium Finishing Market is set to really take off! We're talking potentially serious growth, driven by all those luxury car sales happening worldwide. A big part of that is the increasing number of folks who are doing really well financially – the Ultra High Net Worth and High Net Worth Individuals. Plus, people want their cars looking sharp, so that increasing demand for cool colors and stylish wraps is a big boost for the market. Don't forget about all the investment going into research and development; that's really expected to spice things up and push the market forward!

Global Automotive Chromium Finishing Market Definition

Chrome plating (less commonly chromium plating) is a technique of electroplating a skinny layer of chromium onto a metal object. Chromed layers are often decorative, provide corrosion resistance, ease cleaning procedures, or increase surface hardness. Sometimes, a less costly imitator of chrome could also be used for aesthetic purposes.

Chromium is one of the present elements. Chrome is the short and customary name for chromium. Chromium plating may be a common name for the electroplating technique with a skinny layer of chromium over the given object. Chromium finishing facilitates a shiny & bright look alongside decorative and sturdiness features to the outside and interior parts of automobiles. Chromium is usually known for its unique characteristics including superior corrosion resistance, high durability, excellent hardness, and others. The manufacturers are concentrating on offering customized models to expand their customer base.

Global Automotive Chromium Finishing Market Overview

Because our stuff looks great and works even better, the industry's really taking off! The Automotive Chromium Finishing world is set to explode, mostly because everyone's buying more luxury cars. Seriously, premium car companies are selling tons of vehicles these days! Why? Well, there are just way more super-rich people out there. Plus, everyone wants a car that looks amazing, and that whole chrome wrapping thing? It's really driving growth in this area.

Another key growth enabling factor is an increase in vehicle sales in the Asia Pacific. car sales across countries including China, Japan, India, etc., have showcased stable growth over the past few years, which is especially supported by the increasing deployment of electrical vehicles in these countries. China reported production of around 2.58 million units of battery-enabled vehicles and 0.77 million units of plug-in hybrid electric cars in 2019. These figures are increasing at a rapid rate because of rising concerns over carbon emission and increasing government specialization in sustainability.

Ongoing coronavirus pandemic had bogged down the expansion of the Automotive Chromium Finishing Market between 2019 and 2020 impelled by the temporary suspension of repair shops and maintenance activities of vehicles. Globally, car manufacturers have faced significant losses in terms of revenue on account of international trade restrictions and stoppage in production. North America and Europe observed a significant drop-in rate of growth of the Automotive Chromium Finishing sector during the pandemic year. This may be subjected to vehicle output including reopening of repair shops in their respective countries for 2020.

Global Automotive Chromium Finishing MarketSegmentation Analysis

The Global Automotive Chromium Finishing Market is segmented based on Base Material, Vehicle, End User, And Geography.

Automotive Chromium Finishing Market, By Base Material

• Metal• Plastics

Based on Base Material, the market is bifurcated into metal and plastics. Chrome-plated parts are gaining attention from part manufacturers including alloy wheels, grills, fuel doors, piston rods, etc. Additionally, increasing product demand for decorative purposes is fueling the need for chrome finishing in the automotive sector. Rising vehicle sales along with increase in revenue of premium & luxury car is predicted to increase the product demand.

Automotive Chromium Finishing Market, By Vehicle

• Passenger car• LCV• HCV• Two-wheelers

Based on Vehicle, the market is bifurcated into passenger car, LCV, HCV and Two wheelers. The rising disposable income in emerging economies is driving the sales of passenger cars. Chromium is well known for its superior characteristics including excellent hardness, high durability, superior corrosion resistance, etc., further enhancing its dominance in the industry. However, many car manufacturers are investing in alternative finishing methods owing to the hazardous nature of chrome. Such trends may hamper the overall growth rate of the automotive chrome finishing industry in the passenger car segment post 2027.

Automotive Chromium Finishing Market, By End user

• Automotive OEM• Automotive Aftermarket

Based on End User, the market is bifurcated into automotive OEM and Automotive aftermarket. Automotive OEM segment is projected to expand during 2021 to 2027. Car manufacturers including BMW, Ford, Daimler, Bentley, etc., utilize chrome finishing for both decorative as well as functional applications. The rising production of vehicles across the globe will boost the share of OEMs through 2027. Additionally, premium car manufacturers are also focusing on introducing electric cars in the market, which is supporting the product demand.

Automotive Chromium Finishing Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Let's take a look at how the global automotive chromium finishing market breaks down by regionit's mostly in North America, Europe, Asia Pacific, and then the rest of the world. And get thisby 2027, Asia Pacific is predicted to grab over 50% of the market! What's driving this? Well, there's a boom in passenger car sales, plus everyone's getting their cars repaired and maintained. Also, electric vehicles are becoming huge in Asia Pacific, which means even more chromium finishing will be needed. For instance, Japan is thinking about banning new petrol cars by 2050, so everyone will be buying hybrid and electric cars instead. All these new cars will need plated parts, so car plating will become even bigger, boosting the long-term share of chrome finishing.

Key Players In Automotive Chromium Finishing Market

The “Global Automotive Chromium Finishing Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Atotech, MacDermid Inc., U.S. Chrome, Borogh UK, Taiyo Technology of America Inc., COLLINI GRUPPE, Valley Chrome Plating, Inc., F.H. Lambert Limited, Synergies Casting Inc., Eakas Corporation.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Global Automotive Chromium Finishing Market Report Scope

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Reasons to Purchase this Report

We dig into the market using both numbers and less tangible things like consumer behavior, breaking it all down into segments. Then, we give you the market size in USD Billion for each of those segments. We'll point out which regions and segments are set to explode in growth and which ones are already on top. Plus, we'll analyze each region, showing you what's driving demand for the product or service and what's holding it back. Wondering who's winning? Our competitive landscape section ranks the big players and highlights their new offerings, partnerships, expansions, and acquisitions from the last five years. We also give you detailed profiles of those companies, including what they do, what makes them tick, how their products stack up, and their SWOT analysis. You'll get a clear picture of where the market is now and where it's headed, considering new opportunities, growth drivers, challenges, and roadblocks in both established and up-and-coming regions. We even break down the market's competitive forces using Porter's five forces, and walk you through the Value Chain. Finally, we'll paint a picture of the market's dynamics and pinpoint growth opportunities on the horizon. Oh, and did we mention 6 months of analyst support after you purchase?

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