Trivalent Chromium Finishing Market Research Report – Global Forecast till 2030

Trivalent Chromium Finishing Market Research Report: by Type (Plating, Passivation, Conversion Coatings), by Application (Hydraulics & Heavy Machinery, Oil & Gas, Automotive, Aerospace, Others), and Region - Global Forecast till 2030

ID: MRFR/CnM/5999-CR | February 2019 | Region: Global | 149 Pages         

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Trivalent Chromium Finishing Market

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).

Segmentation
By Type Plating Passivation Conversion Coatings
By Application Hydraulics & Heavy Machinery Oil & Gas Automotive Aerospace Others
Key Players
Companies Profiled   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.)   Three J's Industries Inc. (U.S.)
Drivers
Market Driving Forces   Growing demand in the automotive industry is boosting market growth
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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.


Segmentation Overview


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. 


Regional Overview


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.


Competitive Landscape


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.).


Research Methodology


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.


Analysis Period



  • Base Year - 2017

  • Projection Period - 2018 to 2023

  • Market Valuation - USD Million

  • Market Volume - Tons


For the scope of the report, the global trivalent chromium finishing market is segmented in the following manner


Type



  • Plating

  • Passivation

  • Conversion Coatings


Application



  • Hydraulics & Heavy Machinery

  • Oil & Gas

  • Automotive

  • Aerospace

  • Others


Region




  • North America

    • The U.S.

    • Canada




  •  Latin America

    • Mexico

    • Brazil

    • Argentina

    • Rest of Latin America




  •  Europe

    • The U.K.

    • Italy

    • Spain

    • France

    • Russia

    • Poland

    • Rest of Europe




  •  Asia Pacific (APAC)

    • China

    • Japan

    • India

    • Thailand

    • Australia & New Zealand

    • South Korea

    • Rest of Asia Pacific




  •  The Middle East & Africa (MEA)

    • Turkey

    • Egypt

    • South Africa

    • GCC Countries

    • Rest of the Middle East & Africa




Recent Development

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.


Intended Audience:



  • Trivalent chromium finishing manufacturers

  • Trivalent chromium finishing service providers

  • Traders and distributors of trivalent chromium finishing

  • Production process industries

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size

  • USD 271 Million
  • 2030 : Significant value
  •   CAGR   5.80% CAGR (2022-2030)
      Base Year   2021
      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.


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    Frequently Asked Questions (FAQ) :

    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.