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 2030

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.

• 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.

• 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.

• 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)