Chrome Plating Market Research Report—Global Forecast till 2028

Chrome Plating Market Research Report: Information By Type (Hard Chrome Plating, Decorative Chrome Plating), By Application (Automotive, Aerospace & Defense, Metal Finishing, other), By Region (North America, Europe, Asia Pacific) Forecast till 2028

ID: MRFR/CnM/9216-HCR | October 2021 | Region: Global | 99 pages

Chrome Plating Market Forecast

According to MRFR analysis, chrome plating market is register to a CAGR of over 4.0% to reach around USD 21.73 billion by the end of 2028.


The chrome plating process applyies a thin layer of chromium on to a substrate such as metals or alloys through an electroplating process. It consists of unique properties such as hardness, durability, high strength, and corrosion resistance. It is bifurcated into two types, hard chrome plating and decorative chrome plating, which is also known as thin-dense chrome plating. In many end-use industries, hard chrome plating is commonly used to provide a shiny and smooth surface thatis easier to clean.In a simple way, chrome plating is used to improve the wear and corrosion resistance of certain components.


The prominent factor driving the growth of the chrome plating market is its wide range of applications in various end-use industries such as the automotive industry, aerospace& defense industry, and metal finishing industry. The use of chrome platingin the automotive and aerospace industry helps the manufacturers to improves the performance of several components such as piston rings and valves, tool and dies, printing wear roll surfaces, brake discs, auto engine and suspension parts, motor shafts, aircraft landing gears and components, machineryparts, medical devices, fasteners, and commercial firearms components. Superior characteristics of chrome platingsuch as abrasion resistance, friction coefficient, plating thickness, high hardness, friction coefficient, influence on the base material, adhesion, partial platingare expected to augment the market growth for chrome plating in the automotive industryover the forecast period. Another factor driving the growth of the market isthe upsurge in demand for plastic electroplating in the automotive industry, which is expected to fuel the global market demand over the foreseeable period because plastic electroplating is used in modern vehicles for chrome-plating lightweight parts.


Furthermore, chrome plating is also used for wear and corrosion resistance in addition to its tribological (low friction) characteristics. However, there are some environmental concerns associated with the disposal of the plating solution. Henceforth, many players of chrome plating are looking foranother alternative plating process for automotive components and other products. The high-velocity oxyfuel (HVOF) sprayed coatingsare one of the best alternatives to hard chrome plating, which comprises cermet materials such as tungsten carbide and cobalt.HVOF sprayed coatings can also provide better wear and corrosion resistance. One of the major advantages of HVOF sprayed coatings is its service temperature, which can be resisted at high temperatures up to 540-degree Celsius, while hard chrome can resist up to 425-degree Celsius only. Hence, HVOF sprayed WC-12Co material is expected to hamper the market growth.


Regulatory Framework


ASTM B-556is an ASTM (American Society for Testing and Materials)standard framework imposed for thin chromium coating.


QQ-C-320B is a federal specification issued by the General Services Administration for chromium plating (electrodeposited). This specification is specified for electrodeposited chromium plating.


MIL-C-20218F and MIL-C-23422 are military specifications by the US department of defense for chromium plating applied to surfaces where a lubricating film must be sustained, such as cylinder bores.


SAE AMS 2406L specification has been specified by SAE international for hard chromium plate used on parts for increasing abrasion resistance, increasing tool and die life, maintaining the accuracy of gauges, and reconditioning worn or undersized parts, but usage is not limited to such applications.


Impact of Coronavirus Outbreak


The coronavirus out break has been negatively impacted the market growth of chrome platingand other markets across the globe. The automotive industry, as well as the aerospace & defense industry, are the key sectors of the chrome plating market, which have seen a major lump during the assessment period. According to the International Organization of Motor Vehicle Manufacturers, the NAFTA region saw auto production declining by more than 20%, with the US manufacturing declining by 19%. South America dropped by more than 30%, with Brazil down by almost 32%. The Middle East &Africa region also declined sharply, by more than 35%. Meanwhile, Asia-Pacific resisted reasonably well, with a decline of only 10%.


The pandemic has resulted inan imbalance in market demand and shortage in supply, which is causing disruption in the global supply chain and the halting of many production plants across all the regions. Moreover, one of the major factors hampering the growth of many end-use industries is over dependence on China. Over the past few years, many manufacturers are over dependence on China for raw materials required for production.  After imposing the lockdown, there is a shortage in supply due to lack of transportation, which has been negatively affected the growth of the global chrome plating industryduring the assessment period.


Furthermore, in the recent past, a decline in demand from various key industries such as construction, textiles, and steel has led to metal and mining companies operating at limited capacity and stockpiling, along with the forced lockdowns reduced their scale of operations.


Supply Chain Analysis


The supply chain analysis evaluates every stage and step taken by stakeholders involved through out the production and distribution of chrome plating. The supply chain includes raw materials and suppliers, chrome plating producers, distribution channels, and end-use industries.


Generally, chromium is the key raw material of chrome plating, and for decorative chrome plating,          copper and nickel areapplied in a middle layer as a raw material. The distribution channel in this market comprises distributors, wholesalers, and e-commerce merchants.


Market USP


Chrome plating has good wear and corrosion resistance property


Market Drivers



  • Increasing demand from aerospace industries

  • Growth in automotive sales


Market Restraints



  • Availability of alternatives


Segmentation


By Type



  • HardChrome Plating: Hard chrome plating is an electroplating process in which chromium is deposited from a chromic acid solution. It can be applied to all types of ferrous metals, stainlesssteel alloys, & non-ferrous metals such as brass and copper. Hard chrome plating is classified into various types such as satin chrome, bright chrome, chrome flush, and brushed chrome and has wide application in motor vehicles, trucks, transportation, etc. Henceforth, this segment is expected to provide a lucrative opportunity for market growth.

  • Decorative Chrome Plating: Decorative chrome plating is an electroplating process that uses a layer of nickel or copper and a layer of chromium on the surface of an object in whichnickel platingprovides the shiny surface and polishesthe object look. Once the nickel layer has been deposited on the surface, a chromium layer is added on top of it, which helps increase the corrosion resistance of the material and improve the resistance to scratching and wear of components used in various end-use industries,thereforefueling the global market.


By Application


  • Automotive: Chrome plating is extensively used in automotive components & mechanical components, piston shock absorbers, and other parts. These components are plated with industrial hard chrome to provide durability and lubricity in the components.

  • Aerospace & Defense: In the aerospace & defense industry, chrome platingis usedin landing gear components in both OEM (original equipment manufacturers) and MRO (maintenance, repair, and overhaul) applications. Thus, the growth of the aerospace industry is expected to show promising growth for the global chrome plating market over the forecast period.

  • Metal Finishing: In the metal finishing industry, chrome plating is the coating of choice in various applications of metal finishing.

  • Others: The others segment includes transportation, plumbing industry, etc. It has wide application in kitchen utensils and musical instrument hardware.


By Region


  • North America: The North American chrome plating market is expected to dominate the global market growth due to the development of the aerospace & defense industry in developed countries such as the US. The increasing demand for chrome plating in the aerospace &defense industry for improving durability, wear and tear, and extending aerospace parts and equipment life is the major factor expected to drive the regional market.

  • Europe: The market in Europe is projected to witness high demand for chrome plating owing to the growth of the automotive in the region. According to the International Council on Clean Transportation Organization (ICCT), new car registrations in the European regionis increased by 15.5 million in 2019. Approximately 5.7 million new cars in 2019 were sold for sport utility vehicles (SUV).

  • Asia-Pacific: Asia-Pacific is the fastest-growing regional market on account of the rapid industrialization in the region. China is projected to drive the regional market growth in the Asia-Pacific region over the forecast period. Moreover, the growth of the automotive industry in China and India is playing a crucial role and is expected to boost the market demand over the forthcoming years.


Key Players

The key players of the global chrome plating market include Allied Finishing,  J and N Metal Products, Al ASHRAFI Group
, Pioneer Metal Finishing, and others. These key players operating in the global market are doing several activities for increasing the demand forchrome plating, such as collaboration with small-scale manufacturers to expand their business, expansion in production capacity, merger & acquisition activities, product launch, increase in R&D activity. For instance, Pioneer Metal Finishing company has announced the acquisition of Indianhead Plating, Inc. in January 2021. Indianhead is the leading chrome plating provider in the US.The company provides chrome plating, cylindrical grinding, roll services, and other related processes in the fieldof agricultural, automotive, and metal finishing markets acrossthe globe. Below is the list of key players operating in the global chrome plating market.



  • J and N Metal Products(US)

  • Al ASHRAFI Group (UAE)

  • Sharretts Plating (US)

  • Al Asriah Metal Coating L.L.C. (UAE)

  • Peninsula Metal Finishing (US)

  • Pioneer Metal Finishing (US)

  • Allied Finishing (US)

  • Atotech Deutschl (Germany)

  • Interplex Industries (US)

  • Kuntz Electroplating Market (Canada)

  • Trinity Holdings (India)

  • Roy Metal Finishing (US)

  • Bajaj Electroplaters (India)

  • Al wadi Metal (UAE)



Report Scope:
Report Attribute/Metric Details
  Market Size   2028: USD 21.73 Billion
  CAGR   4.0%(2021–2028)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units    Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered    By Type, By Application, By Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   J and N Metal Products(US),Al ASHRAFI Group (UAE),Sharretts Plating (US),Al Asriah Metal Coating L.L.C. (UAE),Peninsula Metal Finishing (US),Pioneer Metal Finishing (US),Allied Finishing (US),Atotech Deutschl (Germany),Interplex Industries (US),Kuntz Electroplating Market (Canada),Trinity Holdings (India),Roy Metal Finishing (US),Bajaj Electroplaters (India),Al wadi Metal (UAE)
  Key Market Opportunities   Many players of chrome plating are looking foranother alternative plating process for automotive components and other products.
  Key Market Drivers

  • Increasing demand from aerospace industries
  • Growth in automotive sales


  • Frequently Asked Questions (FAQ) :


    chrome plating market is predicted to grow at 4.00 % through forecast period of 2019-2028.

    The forecast period for chrome plating market research report is 2020-2027.

    Global chrome plating market is dominated by APAC region.

    Table of Contents

    1. EXECUTIVE SUMMARY

    1.1. Market Attractiveness Analysis

    1.1.1. Global Chrome Plating Market, by Type

    1.1.2. Global Chrome Plating Market, by Application

    1.1.3. Global Chrome Plating Market, by Region

    2. MARKET INTRODUCTION

    2.1. Definition

    2.2. Scope of the Study

    2.3. Market Structure

    3. RESEARCH METHODOLOGY

    3.1. Research Process

    3.2. Primary Research

    3.3. Secondary Research

    3.4. Market Size Estimation

    3.5. Forecast Model

    3.6. List of Assumptions&Limitations

    4. MARKET DYNAMICS

    4.1. Introduction

    4.2. Drivers

    4.3. Restraints

    4.4. Opportunities

    4.5. Challenges

    4.6. Trends

    5. MARKET FACTOR ANALYSIS

    5.1. Supply Chain Analysis

    5.1.1. Raw Material Suppliers

    5.1.2. Chrome PlatingManufacturers

    5.1.3. Distribution & Sales Channel

    5.1.4. EndUsers

    5.2. Porter’s Five Forces Model

    5.2.1. Bargaining Power of Suppliers

    5.2.2. Bargaining Power of Buyers

    5.2.3. Threat of New Entrants

    5.2.4. Threat of Substitutes

    5.2.5. Intensity of Rivalry

    5.3. Pricing Analysis(USD/Tons), by Region

    5.4. Impact of COVID-19 on the global chrome plating market

    6. GLOBAL CHROME PLATING MARKET, BY TYPE (TONS) (USD MILLION)

    6.1. Introduction

    6.2. Hard Chrome Plating

    6.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    6.3. Decorative Chrome Plating

    6.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    7. GLOBAL CHROME PLATING MARKET, BYAPPLICATION (TONS) (USD MILLION)

    7.1. Introduction

    7.2. Automotive

    7.2.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    7.3. Aerospace & Defense

    7.3.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    7.4. Metal Finishing

    7.4.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    7.5. Others

    7.5.1. Market Estimates & Forecast, by Region/Country, 2019–2028

    8. GLOBAL CHROME PLATING MARKET, BYREGION(TONS) (USD MILLION)

    8.1. Overview

    8.2. North America

    8.2.1. US

    8.2.2. Canada

    8.3. Europe

    8.3.1. Germany

    8.3.2. UK

    8.3.3. France

    8.3.4. Russia

    8.3.5. Spain

    8.3.6. Denmark

    8.3.7. Italy

    8.3.8. Rest of Europe

    8.4. Asia-Pacific

    8.4.1. China

    8.4.2. Japan

    8.4.3. India

    8.4.4. South Korea

    8.4.5. Australia & New Zealand

    8.4.6. Rest of Asia-Pacific

    8.5. Latin America

    8.5.1. Brazil

    8.5.2. Mexico

    8.5.3. Argentina

    8.5.4. Rest of Latin America

    8.6. Middle East & Africa

    8.6.1. Turkey

    8.6.2. UAE

    8.6.3. Saudi Arabia

    8.6.4. South Africa

    8.6.5. Rest of the Middle East & Africa

    9. COMPETITIVE LANDSCAPE

    9.1. Market Introduction

    9.2. Recent Developments

    9.2.1. Mergers/Acquisitions, Expansion, Investment, Partnership, Collaboration, Product Launch

    9.3. Global Market Strategy Analysis

    9.4. Competitive Benchmarking

    10. COMPANY PROFILES

    10.1. J and N Metal Products

    10.1.1. Company Overview

    10.1.2. Financial Overview

    10.1.3. Products Offered

    10.1.4. Key Developments

    10.1.5. SWOT Analysis

    10.1.6. Key Strategies

    10.2. Al ASHRAFI Group

    10.2.1. Company Overview

    10.2.2. Financial Overview

    10.2.3. Products Offered

    10.2.4. Key Developments

    10.2.5. SWOT Analysis

    10.2.6. Key Strategies

    10.3. Sharretts Plating

    10.3.1. Company Overview

    10.3.2. Financial Overview

    10.3.3. Products Offered

    10.3.4. Key Developments

    10.3.5. SWOT Analysis

    10.3.6. Key Strategies

    10.4. Al Asriah Metal Coating L.L.C.

    10.4.1. Company Overview

    10.4.2. Financial Overview

    10.4.3. Products Offered

    10.4.4. Key Developments

    10.4.5. SWOT Analysis

    10.4.6. Key Strategies

    10.5. Peninsula Metal Finishing

    10.5.1. Company Overview

    10.5.2. Financial Overview

    10.5.3. Products Offered

    10.5.4. Key Developments

    10.5.5. SWOT Analysis

    10.5.6. Key Strategies

    10.6. Pioneer Metal Finishing

    10.6.1. Company Overview

    10.6.2. Financial Overview

    10.6.3. Products Offered

    10.6.4. Key Developments

    10.6.5. SWOT Analysis

    10.6.6. Key Strategies

    10.7. Allied Finishing

    10.7.1. Company Overview

    10.7.2. Financial Overview

    10.7.3. Products Offered

    10.7.4. Key Developments

    10.7.5. SWOT Analysis

    10.7.6. Key Strategies

    10.8. Atotech Deutschl

    10.8.1. Company Overview

    10.8.2. Financial Overview

    10.8.3. Products Offered

    10.8.4. Key Developments

    10.8.5. SWOT Analysis

    10.8.6. Key Strategies

    10.9. Interplex Industries

    10.9.1. Company Overview

    10.9.2. Financial Overview

    10.9.3. Products Offered

    10.9.4. Key Developments

    10.9.5. SWOT Analysis

    10.9.6. Key Strategies

    10.10. Kuntz Electroplating Market

    10.10.1. Company Overview

    10.10.2. Financial Overview

    10.10.3. Products Offered

    10.10.4. Key Developments

    10.10.5. SWOT Analysis

    10.10.6. Key Strategies

    10.11. Trinity Holdings

    10.11.1. Company Overview

    10.11.2. Financial Overview

    10.11.3. Products Offered

    10.11.4. Key Developments

    10.11.5. SWOT Analysis

    10.11.6. Key Strategies

    11. APPENDIX

    11.1.1. Discussion Blueprint