The global automotiveChromium market is expected to reach USD
2.54 billion by 2025, according to a new report by Grand View Research, Inc.
Rising chromium plating demand from the passenger vehicles segment, on account
of its superior corrosion resistance properties will augment the market growth
over the next nine years.
The passenger vehicle segment
held the largest market share. Chrome plating is being increasingly used for
plating various passenger vehicle components such as bumpers, grills, mirror
covers, inner & outer door handle, interior decorative parts, headrest and
other parts. In addition, the growing popularity of chrome plating in passenger
vehicles, since it enhances aesthetics is expected to propel the market growth
over the forecast period.
The decorative plating
application segment accounted for the largest share in the global automotive
chromium market. The decorative plating is being increasingly used on account
of its beneficial properties such stain and abrasion resistance, which is
expected to have positive impact on market. However, stringent environmental
regulations laid by various governments in matured economies is expected to
pose a challenge to the growth of automotive chromium market over the next nine
years.
Increasing chrome plating on
two wheelers on account of enhanced corrosion and wear resistance offered;
would propel the industry development. The rise in manufacturing of vehicles in
North America and Asia Pacific region is anticipated to fuel the demand for
automotive chromium over the forecast period. The increasing number of two
wheelers, in North America is expected to boost the chromium plating for
various components including headlight, frame, nuts & bolts, wheels, and
others. The benefit of improved two wheeler aesthetics on account of chrome
plating would propel the market during 2016 to 2025.
Full Research Report On automotive chromium market Analysis:
Further key findings from the report suggest:
·
The market is expected to grow
at a CAGR of 5.93% from 2016 to 2025 on account of increasing use in the
passenger vehicles. Decorative plating is projected to witness the fastest
growth at a CAGR of 6.4% from 2016 to 2024 owing to its superior corrosion and
wear resistance properties
·
North America market is
expected to witness significant market development and was estimated at over
USD 790 million in 2015 on account of rising demand from the two wheelers and
passenger vehicle segment.
·
Key participants include
Macdermid Enthone Inc., Kakihara Industries Co., Ltd., Sarrel, and MVC
Holdings, LLC. Major market players are focused on research and development for
product differentiation to maintain their market share along with achieving
sustainable growth.
·
In March 2016, MacDermid
Enthone Industrial Solutions was given membership by High Density Packaging
(HDP) User Group which focuses on addressing technical issues faced by the
electronic packaging and assembly industry.
View More Reports Of This Category By Grand
View Research At: https://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the
global automotive chromium market on the basis of application, end-use, and
region:
Automotive Chromium Application
Outlook (Revenue, USD Million, 2014 - 2025)
·
Decorative Plating
·
Functional Plating
Automotive Chromium End-Use
Outlook (Revenue, USD Million, 2014 - 2025)
·
Two Wheelers
·
Passenger Vehicles
·
Commercial Vehicles
Automotive Chromium Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
UK
o
Germany
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
South & Central America
o
Brazil
·
Middle East & Africa
Access
Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-automotive-chromium-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
