Automotive Chromium Market, Size, Share, Outlook and Growth Opportunities 2019-2026
Global Automotive Chromium Market is segmented By Vehicle Type (Two-wheeler, Passenger vehicles, Commercial vehicles), By Application (Decorative chromium plating, Functional chromium plating), and By Region (North America, Latin America, Europe, Asia Pac
(EMAILWIRE.COM, March 30, 2020 ) Market Overview
The Global Automotive Chromium Market is expected to grow at a CAGR of 7.1% during the forecasting period (2019-2026).Due to rising chromium plating demand from the passenger vehicles segment, on account of its superior corrosion resistance properties will augment the market growth during the forecast period.
Chrome plating is a technique of electroplating a thin layer of chromium onto a metal object. The chromed layer can be decorative, provide corrosion resistance, ease cleaning procedures, or increase surface hardness. Sometimes, a less expensive imitator of chrome may be used for aesthetic purposes.
The report covers all the major trends and drivers playing a key role in the growth of the Automotive Chromium market.Automotive Chromium market is segmented by Product Type, Technology, End-user and Region.
Market Dynamics
The global Automotive Chromium market is primarily driven by with growing automotive industry and rise in demand of chrome plating from developing countries such as India, and China. Chrome plating protects automotive components from corrosion, scratch, and wear and tear. It provides brightness and enhances their appearance. Hexavalent and trivalent chromium are popularly used for decorative chromium plating of automotive components. Decorative chrome plating is mainly applied to exterior automotive components or vehicle parts such as door handles.
However, stringent environmental regulations led by various governments in matured economies is expected to pose a challenge to the growth of automotive chromium market.
Segmentation Analysis
By vehicle type, the global Automotive Chromium market is segmented into Two-wheelers, Passengers vehicles, and Commercial Vehicles.Passenger vehicles accounted for the majority share in the market due to the rise in the demand for the chrome paints in passenger vehicles interior parts and exterior parts. Chromium paint is growing its popularity as it gives great appearance to the part painted coupled with the corrosion resistance property increase its life. With its property of corrosion resistance, the demand of it in two-wheeler segment is boosting, due to the more exposed parts. Therefore, increasing the automotive chromium market for the two-wheeler segment in the forecast period.
By application, the global Automotive Chromium market is segmented into Decorative plating and Functional plating. plating segment accounted for the largest share in the market. The decorative plating is being increasingly used on account of its beneficial properties such stain and abrasion resistance, which is expected to have positive impact on market. This type of plating is usually applied in the range of 0.1 - 2.0 μm, and hence is used mostly for plating exterior automotive components. The properties such as abrasion and stain resistance are expected to fuel the demand for this application over the forecast period.
Geographical Analysis
By geography, the global Automotive Chromium market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, European countries are engaged in manufacturing passenger and commercial vehicle on large scale. The innovative use of chromium to provide quality components as per the industry requirement is expected to have a positive impact on the market during the forecast period.
Demand in Asia Pacific is expected to increase and will be the second largest market during the period from 2019 to 2026. This growth can be attributed to the shift of production facilities in emerging markets such as China and India owing to the lower operational expenditure as compared to that in developed regions.
It is expected to witness significant growth, owing to high government spending on the infrastructure sector and rising opportunities for Foreign Direct Investment (FDI), especially in countries like in China and India. Moreover, the demand for Automotive Chromium in APAC is largely driven by the growing automotive sector. The rise in population and increase in income per capita income are majorly driving the automotive industry in the region.
Competitive Analysis
Automotive Chromium market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Automotive Chromium. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Automotive Chromium. Merger, acquisition, and product development are key strategies adopted by leading players.
The major players in the market are Atotech, Kakihara Industries, MVC Holdings, Platform Specialty Products Corporation, and SARREL. Other prominent players in the market are MacdermidEnthone Inc., American Electroplating Company, Borough Ltd, Customchrome Plating Inc, and Rotorua Electroplaters Ltd.
For instance, Atotech recently launched the first trivalent chromium hard chrome-BluCr. With BluCr, Atotech is the first company in the electroplating industry to offer an industrial trivalent chromium hard chrome plating process and by this means an alternative to hexavalent hard chrome plating.
Download Free Sample: https://www.datamintelligence.com/download-sample/automotive-chromium-market
Why Purchase the Report?
Identify new growth opportunities with In-depth insights for strategic business plans and design innovative strategies for sustainable growth.
Comprehensive details on factors that will drive or challenge the growth of market players.
Deep Sector-Specific Intelligence
Attractiveness and consumer behavior analysis for every region
Highlights of the competitive landscape
**The Automotive Chromium Market report would provide access to an approx., 100 market data table, 135 figures, and 218 pages.
Target Audience:
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers
View full report: https://www.datamintelligence.com/research-report/automotive-chromium-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/automotive-chromium-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
The Global Automotive Chromium Market is expected to grow at a CAGR of 7.1% during the forecasting period (2019-2026).Due to rising chromium plating demand from the passenger vehicles segment, on account of its superior corrosion resistance properties will augment the market growth during the forecast period.
Chrome plating is a technique of electroplating a thin layer of chromium onto a metal object. The chromed layer can be decorative, provide corrosion resistance, ease cleaning procedures, or increase surface hardness. Sometimes, a less expensive imitator of chrome may be used for aesthetic purposes.
The report covers all the major trends and drivers playing a key role in the growth of the Automotive Chromium market.Automotive Chromium market is segmented by Product Type, Technology, End-user and Region.
Market Dynamics
The global Automotive Chromium market is primarily driven by with growing automotive industry and rise in demand of chrome plating from developing countries such as India, and China. Chrome plating protects automotive components from corrosion, scratch, and wear and tear. It provides brightness and enhances their appearance. Hexavalent and trivalent chromium are popularly used for decorative chromium plating of automotive components. Decorative chrome plating is mainly applied to exterior automotive components or vehicle parts such as door handles.
However, stringent environmental regulations led by various governments in matured economies is expected to pose a challenge to the growth of automotive chromium market.
Segmentation Analysis
By vehicle type, the global Automotive Chromium market is segmented into Two-wheelers, Passengers vehicles, and Commercial Vehicles.Passenger vehicles accounted for the majority share in the market due to the rise in the demand for the chrome paints in passenger vehicles interior parts and exterior parts. Chromium paint is growing its popularity as it gives great appearance to the part painted coupled with the corrosion resistance property increase its life. With its property of corrosion resistance, the demand of it in two-wheeler segment is boosting, due to the more exposed parts. Therefore, increasing the automotive chromium market for the two-wheeler segment in the forecast period.
By application, the global Automotive Chromium market is segmented into Decorative plating and Functional plating. plating segment accounted for the largest share in the market. The decorative plating is being increasingly used on account of its beneficial properties such stain and abrasion resistance, which is expected to have positive impact on market. This type of plating is usually applied in the range of 0.1 - 2.0 μm, and hence is used mostly for plating exterior automotive components. The properties such as abrasion and stain resistance are expected to fuel the demand for this application over the forecast period.
Geographical Analysis
By geography, the global Automotive Chromium market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, European countries are engaged in manufacturing passenger and commercial vehicle on large scale. The innovative use of chromium to provide quality components as per the industry requirement is expected to have a positive impact on the market during the forecast period.
Demand in Asia Pacific is expected to increase and will be the second largest market during the period from 2019 to 2026. This growth can be attributed to the shift of production facilities in emerging markets such as China and India owing to the lower operational expenditure as compared to that in developed regions.
It is expected to witness significant growth, owing to high government spending on the infrastructure sector and rising opportunities for Foreign Direct Investment (FDI), especially in countries like in China and India. Moreover, the demand for Automotive Chromium in APAC is largely driven by the growing automotive sector. The rise in population and increase in income per capita income are majorly driving the automotive industry in the region.
Competitive Analysis
Automotive Chromium market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Automotive Chromium. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Automotive Chromium. Merger, acquisition, and product development are key strategies adopted by leading players.
The major players in the market are Atotech, Kakihara Industries, MVC Holdings, Platform Specialty Products Corporation, and SARREL. Other prominent players in the market are MacdermidEnthone Inc., American Electroplating Company, Borough Ltd, Customchrome Plating Inc, and Rotorua Electroplaters Ltd.
For instance, Atotech recently launched the first trivalent chromium hard chrome-BluCr. With BluCr, Atotech is the first company in the electroplating industry to offer an industrial trivalent chromium hard chrome plating process and by this means an alternative to hexavalent hard chrome plating.
Download Free Sample: https://www.datamintelligence.com/download-sample/automotive-chromium-market
Why Purchase the Report?
Identify new growth opportunities with In-depth insights for strategic business plans and design innovative strategies for sustainable growth.
Comprehensive details on factors that will drive or challenge the growth of market players.
Deep Sector-Specific Intelligence
Attractiveness and consumer behavior analysis for every region
Highlights of the competitive landscape
**The Automotive Chromium Market report would provide access to an approx., 100 market data table, 135 figures, and 218 pages.
Target Audience:
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers
View full report: https://www.datamintelligence.com/research-report/automotive-chromium-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/automotive-chromium-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results