The Automotive Chromium Finishing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Chromium Finishing
Global Market Report 2024, The automotive chromium finishing market size has
grown steadily in recent years. It will grow from $4.23 billion in 2023 to
$4.38 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The
growth in the historic period can be attributed to aesthetic and
corrosion resistance demand, luxury automotive trends, regulatory compliance,
aftermarket customization, increased vehicle production.
The automotive chromium finishing market size is expected to see steady growth
in the next few years. It will grow to $4.96 billion in 2028 at a compound
annual growth rate (CAGR) of 3.2%. The
growth in the forecast period can be attributed to electric vehicle design
trends, focus on sustainable finishing processes, emerging market growth,
connected and autonomous vehicles, shift towards non-hexavalent chromium. Major
trends in the forecast period include advancements in chromium plating
technologies, matte finishes and color variations, collaboration with
automotive designers, recyclability and circular economy practices, strategic
partnerships for research and development.
The increasing sales of luxury vehicles are expected to propel the growth of
the automotive chromium finishing market going forward. Luxury vehicles are
vehicles with additional amenities for the driver's comfort and status.
Chromium finishing, with its dazzling, brilliant surface, and
corrosion-resistant qualities, lends luxurious and traditional elegance to
luxury vehicles. For instance, in December 2022, according to Cox Automotive, a
US-based automobile company, with an increase to 18.2% of overall sales in
November from 17.8% in October, the share of luxury vehicles will still be
historically high. Therefore, the increasing sales of luxury vehicles are
driving the growth of the automotive chromium finishing market.
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The automotive chromium finishing market covered in this report is segmented –
1) By Base Material: Metal, Plastics
2) By Process: Decorative Chrome, Hard Chrome
3) By Vehicle: Passenger Car, Light Commercial Vehicles (LCV), Heavy Commercial
Vehicles (HCV), Two-Wheelers
4) By End-User: Automotive Original Equipment Manufacturer (OEM), Automotive
Aftermarket
Product innovations are a key trend gaining popularity in the automotive
chromium finishing market. Major companies operating in the automotive chromium
finishing market are developing innovative products to sustain their position
in the market. For instance, in March 2023, STEK USA Inc., a US-based
manufacturer of ceramic coatings, films, and car care products, launched the
DYNOchrome series, the world's first chrome paint protection film. It is
uniquely designed with advanced technology and 100% TPU-based plastic film,
resulting in a natural metal finish. The DYNOchrome is designed with a
top-coated film with a self-healing and hydrophobic layer and a 10-year
warranty against manufacturing defects.
The automotive chromium finishing market report table of contents includes:
1. Executive Summary
2.
Automotive Chromium Finishing Market Characteristics
3.
Automotive Chromium Finishing Market Trends And Strategies
4.
Automotive Chromium Finishing Market - Macro Economic Scenario
5. Global
Automotive Chromium Finishing Market Size and Growth
.
32. Global Automotive Chromium Finishing Market Competitive Benchmarking
33. Global
Automotive Chromium Finishing Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Automotive Chromium Finishing Market
35.
Automotive Chromium Finishing Market Future Outlook and Potential Analysis
36.
Appendix
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