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Trivalent Chromium Finishing Market: By System, By Application, By End User and Geography
Trivalent Chromium Finishing Market: By System, By Application, By End User and Geography
Trivalent Chromium Finishing Market estimated to be valued US$ 49.05 million in 2022 and poised to grow at significant CAGR 5.2% over 2023-2029. Some of the key factors influencing the market growth include increasing demand for trivalent chromium finishing from automotive industry, rising environmental concerns with regards to hexavalent chrome, increasing awareness about safety & health and growing need for improving the surface appearance of components. However, high initial investments to set up a trivalent chrome facility and availability of thermal spray coating as an alternative to plating are hindering the market growth. Global Trivalent Chromium Finishing market report gives comprehensive outlook on trivalent chromium finishing across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This report gives historical, current, and future market sizes (US$ Mn) on the basis of system, application, end user and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global trivalent chromium finishing market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global trivalent chromium finishing products. Global trivalent chromium finishing market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In May 2017, Atotech launched Blu the first trivalent chromium hard chrome. With Blu, 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.
Study Period
2024-2030Base Year
2023CAGR
5.2%Largest Market
Asia PacificFastest Growing Market
Europe
Throughout the history of nickel and chromium electroplating, there has been a desire to continuously improve the appearance and performance of the plated parts. For the past decades, the automotive industry has been in the forefront in demanding constant improvements. Trivalent chromates are ideal for use in automotive applications where it is desirable to eliminate hexavalent chrome and/or achieve the improved performances. For producing decorative pieces on cars the use of tri-chrome plating together with rules to decrease pollution and minimize vehicle weight are increasing demand for trivalent chromium finishing from automotive industry. In addition, automotive engine parts often benefit from trivalent chromium plating. Parts manufactured using this surface treatment may include gears, engine piston rings, brake discs, fasteners, suspension assemblies, rollers, and hydraulic cylinder rods. The auto manufacturing industry in the past relied heavily upon decorative chrome plating, and some auto makers still utilize decorative chrome to enhance vehicle bumpers, door handles and brand icons. Hence, increasing demand for trivalent chromium finishing from automotive industry is fueling the market growth. The major challenge for the market due to which there is a decreasing acceptance rate of the systems is the higher initial investments to set up a trivalent chrome facility. Moreover, there is an additional costs incurred for the metal and non-metal finishing companies for installation, commissioning and procurement of these tanks. Hence, higher initial investments hampers the market growth.
Asia Pacific accounted for larger revenue share in global trivalent chromium finishing market with considerable CAGR. The growth in this region is due to rising demand for hydraulic & heavy machinery and rapid growth of the automotive industry. Moreover, increasing consumer demand for decorative finishes is other factor responsible for the market growth. Also, India and china are the major contributors for the market growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 49.05 million |
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Market CAGR |
5.2% |
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By System |
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By Application |
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By End User |
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By Region |
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
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The key segments covered in the Trivalent Chromium Finishing Market are technology, components, application, and end-users.
The Trivalent Chromium Finishing Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The Trivalent Chromium Finishing Market key players ASTERIONLLC (U.S.) Atotech (Germany), Chem ProcessingInc. (U.S.), CHEMEON Surface TechnologyLLC (U.S.), Electro Chemical Finishing (U.S.), Master Finish Company (U.S.), Midland Polishing & Plating Ltd. (U.K.), Ronatec C2CInc. (U.S.), Three J’s Industries Inc. (U.S.)
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.