The market size of Trivalent Chromium Finishing is estimated to touch a valuation of USD 416 million by 2030 and is projected to register a 5.80% CAGR over the forecast period (2021-2030).
Trivalent chromium finishing market overview
The market size of Trivalent Chromium Finishing is estimated to touch a valuation of USD 416 million by 2030 and is projected to register a 5.80% CAGR over the forecast period (2021-2030). And trivalent chromium is used in the industries, like automotive, hydraulic, and heavy equipment manufacturing as it eliminates the hazards connected with hexavalent plating, in addition to that, the system allows a layer of uniform thickness over the surface of the component with better throwing power, hence enhancing the productivity of metal and non-metal finishing operations.
Developed countries are the biggest market for this trivalent chromium and there has been a considerable rise in automobile sales. The automobile manufacturers provide various incentive schemes to boost vehicle sales and trivalent chromium finished products are used in vehicles. The growing demand for automotive is in turn aimed to encourage the trivalent chromium finishing growth as automotive part manufacturers have to comply with the end-of-life-vehicles directive, which mandates the use of trivalent chrome.
The global trivalent chromium finishing market is segmented on the basis of type and application. By type, the market is segmented into plating, conversion coatings, and passivation. Major applications of trivalent chromium finishing include automotive, hydraulics & heavy machinery, oil & gas, aerospace, and others.
Based on regions, the global trivalent chromium finishing market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The APAC region is expected to experience a stellar growth rate owing to the booming automotive sector in India, Thailand, China, and South Korea. Europe is projected to exhibit a modest growth rate during the assessment period owing to several policies set by the European Union for adherence of trivalent chromium finishing.
Notable players in the global trivalent chromium finishing market report include MacDermid, Inc. (U.S.), Atotech (Germany), Chem Processing, Inc. (U.S.), Ronatec C2C, Inc. (U.S.), Midland Polishing & Plating Ltd. (U.K.), ASTERION, LLC (U.S.), Electro Chemical Finishing (U.S.), CHEMEON Surface Technology, LLC (U.S.), Master Finish Company (U.S.), and Three J's Industries, Inc. (U.S.).
At Market Research Future, we consider the proper blend of accurate, reliable, and relevant data as of prime importance. Our data analysts are adept in exactly interpreting data and gaining appropriate information. The primary research includes a head-to-head interview with eminent market insiders who have a pulse on market trends. The secondary method amplifies pertinent factors of the market that can positively influence the market during the forecast period. Other credible sources such as annual reports, publications by relevant associations, and SEC filings do play an integral part in the planning of the report. To maintain an objective analysis, we have included several proprietary standards for the estimation and validation of market data. Top-down and bottom-up approaches are a part of this analysis for a holistic understanding of the market, and the endeavor is to provide our client with an edge that would help them gain insights.
For the scope of the report, the global trivalent chromium finishing market is segmented in the following manner
The United States market for trivalent chromium finishing was calculated at USD 44.07 million in 2016 and it is anticipated to register a compound annual growth rate (CAGR) of 5.4% from 2017 to 2025. And the rising environmental concerns with regard to hexavalent chrome are aimed to drive the demand for trivalent chrome in the country. According to a study, we consider the proper blend of accurate, reliable, and relevant data as of major importance. The data analysts are adept in the exactly interpreting data and gaining the correct information. Factors, that are taking forward the trivalent chromium finishing market growth include strict rules, regulations and orders, but the thermal spray coating as an alternative to plating can hamper the market growth.
|CAGR||5.80% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-Use Industry and Region.|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||MacDermid, Inc. (U.S.), Atotech (Germany), Chem Processing, Inc. (U.S.), Ronatec C2C, Inc. (U.S.), Midland Polishing & Plating Ltd. (U.K.), ASTERION, LLC (U.S.), Electro Chemical Finishing (U.S.), CHEMEON Surface Technology, LLC (U.S.), Master Finish Company (U.S.), and Three J's Industries, Inc. (U.S.).|
|Key Market Opportunities||Strategic market evolution, value chain optimization, trade regulations, product launches, area marketplace expanding, and technological innovations.|
|Key Market Drivers||Growing demand in the automotive industry is boosting market growth.|
The trivalent chromium finishing market is projected to grow at a 5.80% CAGR between 2018-2025.
The trivalent chromium finishing market is predicted to touch USD 416 million by 2025.
Asia Pacific will dominate the trivalent chromium finishing market.
Growing demand in the automotive industry is boosting market growth.
Availability of alternatives may restrict market growth.