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IMARC Group’s report titled “Automotive Chromium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights on the global automotive chromium market report. The global market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/automotive-chromium-market/requestsample
Factors Affecting the Growth of the Automotive Chromium Industry:
- Corrosion Resistance:
Chromium is highly effective in preventing rust and corrosion on various automotive components. It is commonly used for chrome plating on parts, such as bumpers, grilles, and wheels. The corrosion-resistant properties of chromium ensure that these components remain visually appealing and structurally sound over time. Chromium-coated parts have a longer lifespan due to their resistance to corrosion. This longevity is a critical factor for both manufacturers and consumers.
- Aesthetic Appeal:
Chromium plating provides a distinctive and visually appealing finish to automotive components. The reflective and shiny surface of chrome adds a touch of luxury and sophistication to vehicles. This visual appeal enhances the overall look of the vehicle, making it more attractive to potential buyers. Many people are seeking to personalize their vehicles to reflect their individual style and preferences. Chrome accents and trim options allow for easy customization, enabling consumers to choose specific chrome features that align with their desired aesthetic. This customization trend is driving the demand for chromium products as automakers offer a variety of chrome options.
- Durability and Longevity:
Chromium-coated parts are known for their extended lifespan and resistance to corrosion. This durability translates into reduced maintenance and replacement costs for both vehicle manufacturers and consumers. Manufacturers benefit from fewer warranty claims and warranty-related expenses, while people enjoy vehicles with lower ownership costs. The ability of chromium to maintain its shine and resist tarnishing over time is contributing to the long-lasting visual appeal of vehicles. In addition, vehicles with chrome-plated components are perceived as more reliable and well-built.
Leading Companies Operating in the Global Automotive Chromium Industry:
- Allied Finishing Inc.
- American Electroplating Company
- Arlington Plating Company
- Atotech
- Borough Ltd.
- Chem Processing Inc.
- Douglas Metal Finishing Limited
- Galva Decoparts Pvt. Ltd.
- Kakihara Industries Co. Ltd.
- MacDermid Inc. (Element Solutions Inc.)
- Plamingo Ltd.
- Sarrel
Automotive Chromium Market Report Segmentation:
By Application:
- Decorative Plating
- Functional Plating
Decorative plating represented the largest segment as the automotive industry places a strong emphasis on aesthetics.
By End User:
- Passenger Vehicles
- Commercial Vehicles
Passenger vehicles hold the biggest market share due to rising preferences for chrome accents and trim in passenger cars among individuals.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the automotive chromium market on account of the burgeoning automotive sector.
Global Automotive Chromium Market Trends:
The shift towards electric vehicles (EVs), along with the increasing utilization of chromium in EV components, is propelling the growth of the market. Environmental concerns are driving the development of eco-friendly chromium plating processes, aligning with sustainability goals and regulatory requirements. Ongoing research and development (R&D) activities are focusing on improving the performance and durability of chromium coatings and exploring alternative materials and processes.
People are seeking ways to personalize their vehicles, catalyzing the demand for customized chrome accents and trim options in the automotive aftermarket.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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