Trivalent Chromium Finishing Market Research Report โ€“ 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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Market Overview


Trivalent chromium finishing is a premier plating method used in decorative and functional finishes. The method gained prominence as a viable substitute for hexavalent chromium finishing which is considered carcinogenic by federal agencies.


The global trivalent chromium finishing market is estimated to touch a valuation of USD 416 million by 2025, as per the latest findings of Market Research Future (MRFR). It is predicted to register 5.80% CAGR over the forecast period (2018-2025). It was previously valued at USD 271 million in 2017.


Factors driving market growth include strict regulations concerning the use of hexavalent chromium and rising demand for trivalent chromium plating in the automotive industry. But the availability of thermal spray coating as an alternative to plating can hamper market growth.


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




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.

    Global Trivalent Chromium Finishing Market: Competitive Landscape


    The major players operating in the global Trivalent Chromium Finishing are MacDermid, Inc., Atotech, Chem Processing, Inc., Ronatec C2C, Inc., Midland Polishing & Plating Ltd, ASTERION, LLC, Electro Chemical Finishing, CHEMEON Surface Technology, LLC, Master Finish Company, and Three J's Industries, Inc.


    MacDermid, Inc, Atotech, CHEMEON Surface Technology, LLC; Midland Polishing & Plating Ltd, and Chem Processing, Inc. are the manufacturing companies which collectively account for the majority share of the global trivalent chromium finishing market. The market is concentrated and comprises of players which are operational in the US, Germany, and the UK. The players operating in the market are emphasizing on product launches, distribution agreements, and expansion to gain maximum revenue. There is a growing demand from various end-use industries such as aerospace, military/defence, automotive, medical, architectural, marine, electronics, and heavy equipment among others. There is a strong competition among the players in the US due to presence of large number of companies providing trivalent chromium finishing in the country.


    In November 2017, MacDermid Enthone subsidiary of MacDermid, Inc, had launched its newest REACH compliant trivalent chromium plating process, TriMac ECLIPSE. It deposits a dark decorative chromium layer and resists attack from calcium chloride containing salts. It meets local environmental standards and air treatment requirements, along with the associated monitoring time.


    In May 2017, Atotech launched its first trivalent chromium hard chrome plating process BluCr. It is a favourable alternative to carcinogenic hexavalent hard chrome plating. It is boric-acid free and offers same properties as of Cr (VI) coatings. It also offers excellent chloride resistance and complies with the REACH regulations. This process helps the company to expand its product portfolio in platings industry.


    In May 2018, CHEMEON announced a new international distribution partnership with Metron Specialty Chemical of India, Daewon Innovation Ltd. of South Korea, Elite Surface Finishing in Australia, and FirstKem in the U.S.  Additionally, the products were made available online too. This development helps the company to expand its global footprint and gain long-term growth. Furthermore, its international position strengthened by joining with PartsBase, which distributes its products across the globe.


    Midland Polishing & Plating Ltd focuses in ensuring highest quality of products and standards of service. Furthermore, it constantly focuses on innovating and accepting revolution in technologies. Additionally, the company always strives in providing long-term relationship with customers by catering their needs with full services of consultation and technical solutions.


    Chem Processing, Inc. (CPI), an ISO/AS and NADCAP certified company is known for its comprehensive metal finishing capabilities. The company specializes in engineering, corrosion resistant finishes, including zinc plating, electroless nickel plating, dry film lubricants, fluoropolymer coatings, cadmium plating, silver plating, among others. Under zinc plating segment, the company provides trivalent chromium seals. The quality metal finishing serves various industries such as aerospace, automotive, agriculture, defense, and medical among others.