Automotive Chromium Finishing Market: Top Key Players, Regional Outlook and Growth Forecast to 2027

The automotive chromium finishing market is set to grow from its current market value of more than USD 3.98 billion to over USD 4.5 billion. Constant demand and sales of sports & premium cars across various parts of the world will anchor the automotive chromium finishing market forecast. There is an extensive adoption of chrome finishing in passenger cars and commercial vehicles. The incessant efforts to curb carbon emissions have increased the preference for electric vehicles that are incorporated with lightweight materials.

The expansion in the number of luxury vehicles will bolster the need for chromium finishing, mainly in the U.S., China, and various European countries. This has resulted in the higher deployment of EV technology across the automotive sector in these areas. Furthermore, numerous automotive manufacturers are coming up with innovations to offer a lustrous and bright finish on the vehicle body and parts.

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Application of chromium finishing components across the automotive OEM sector will be responsible for considerable a growth rate in the coming years considering the longer lifespan of the automotive parts. Citing this with an example, the piston rings of a sports car operate at close to 300,000 miles and are further subject to change across various vehicle categories. This increases the replacement frequency of the OEM parts apart from cutting down the need for chrome finishing on the existing parts in short intervals.

Demand for automotive chromium finishing tools in passenger cars will gain substantial traction by 2027. This can be attributed to the higher preference for pre-owned vehicles and the surge in the household incomes of consumers.

On the other hand, the market value from two-wheelers will reach over 5% of the global share in the same year due to their increasing use and the hike in premium motorcycles sales.

Global revenue from the steel segment for automotive chromium finishing solutions is expected to hit a 2.5% CAGR through the next few years. This can be owed to the increasing preference for this metal in comparison to others. It has been estimated that an average passenger car that weighs up to 1.4 tons makes use of over 75% of the steel products.

The value of decorative chrome processes in the automotive chromium finishing market is anticipated to hold a major revenue share through 2027. This is in line with the growing requirement to enhance the appearance and shiny polishes on the vehicle parts. Also, the rising adoption of electric cars will add positive impetus to the demand for decorative chrome finishing in automobiles.

The automotive chromium finishing market in North America is expected to record an appreciable CAGR of around 2.5% through 2027. Expanding automotive industry in the U.S. coupled with increasing consumer preference for overall luxury cars as well as electric vehicles is fostering the growth of automotive chromium finishing industry in North America.

Solution providers in automotive chromium finishing are working on several strategies to extend their offerings and sustain competition, specifically in the present COVID-19 industrial crisis. For instance, Atotech, in August 2020, received approval for CM626, from Fiat Chrysler Automobiles. The offering is its brand-new color code for a decorative satin trivalent chromium finish used in interior and exterior applications.

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Data Tables

TABLE 1     Global automotive chromium finishing market estimates and forecast, 2017 – 2027, (USD Million)

TABLE 2     Global automotive chromium finishing industry revenue by base material, (USD Million), 2017 – 2027

TABLE 3     Global automotive chromium finishing industry revenue process by end-user, (USD Million), 2017 – 2027

TABLE 4     Global automotive chromium finishing industry revenue by end-user, (USD Million), 2017 - 2027

TABLE 5     Global automotive chromium finishing market revenue by vehicle, (USD Million), 2017 - 2027

TABLE 6     Global automotive chromium finishing industry revenue by region, 2017 – 2027 (USD Million)

TABLE 7     Global automotive chromium finishing industry estimates and forecast for metal, 2017 – 2027, (USD Million)

TABLE 8     Global automotive chromium finishing market revenue for metal, by region, 2017 – 2027 (USD Million)

TABLE 9     Global automotive chromium finishing industry estimates and forecast for steel, 2017 – 2027, (USD Million)

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