Global Automotive Chromium Market by End user (Two Wheelers, Passenger Vehicles, Commercial Vehicles), by Application (Decorative Plating, Functional Plating) and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 2.6 Mn by 2027, at a CAGR of 7.1 % during a forecast period.
Automotive chromium is widely used for electroplating automotive components either for decorative or functional purposes. Decorative chromium plating keeps automotive components from corrosion, wear and tear, and chemicals, thereby improving the aesthetic appeal of these components. The demand for decorative plating has been increasing in automotive sector on account of its practice in coating various vehicle parts such as wheel covers, interior & exterior trims, logos & emblems, door handles, mirror housings, and others. The increasing popularity of chrome has boosted the need for advanced production facilities, and is expected to propel the market growth over the forecast period.
Decorative Plating sector are rapidly increasing during the forecast period.
Decorative chromium was the largest application segment accounting for over 60% of the global market in 2017. This type of plating is typically applied in the range of 0.1 – 2.0 μm, and hence is used for plating exterior automotive components. The properties such as abrasion and stain resistance are anticipated to fuel the demand for this application over the forecast period.
The Automotive Chromium Market in North America region is expected to hold the largest share during the forecast period.
Decorative chromium market in North America was estimated over high CAGR in 2017. It is broadly used in two wheeler and passenger vehicle components in this region. The two wheeler components on which plating is applied contain swing arm, wheels, timing cover, frame, kickstand, handlebar hardware, headlight, taillight hardware, nuts & bolts, fork legs and similar other exterior components. The growth in two wheeler industry is anticipated to have a positive impact on the market. Demand in Asia Pacific is expected to remain the second largest market during the period from 2017 to 2026.
Key players operating in the global automotive chromium market are Macdermid Enthone Inc., Kakihara Industries Co. Ltd., Sarrel, MVC Holdings, Lund International Inc., HELLA KGaA Hueck & Co, Thule Group AB, Oakmore Pty Ltd, Mont Blanc Industri AB, Minth Group, Magna, Rotorua Electroplaters Ltd, Chem Processing Inc. and Hester Fabrication. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global automotive chromium market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global automotive chromium market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global automotive chromium market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Automotive Chromium Market”
https://www.maximizemarketresearch.com/market-report/global-automotive-chromium-market/24496/
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908