Automotive Chromium Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Report Code: CMR 51942 Report Format: PDF + Excel

Automotive Chromium Market Overview

Automotive Chromium market size is forecast to reach US$2.8 billion by 2027 after growing at a CAGR of 6.7% during 2022-2027. The Automotive Chromium Industry uses a Chrome plating technique, which is a electroplating method of a thin layer of chromium onto a metal object such as copper, stainless steel, aluminium, and others. The product of Automotive chromium plating is called chrome. These automotive chromium plating can be decorative plating as well as offer corrosion resistance, easy-cleaning procedures, and increase surface hardness. Automotive Chromium plating is being increasingly used for plating various passenger vehicle components like bumpers, grills, mirror covers, inner and outer door handle, interior decorative parts, headrest, and other parts. The chromium plating process involves various different steps which include degreasing, cleaning dirt and impurities, different types of pre-treatment varying with the consistency of substrate material. Furthermore, surge in the demand for the Automotive Industry in the past and in the coming years are some of the major factors driving the Automotive Chromium market growth during the forecast period.

COVID-19 Impact

The recent outbreak of COVID-19 indicates that several developing and developed economies were not well-equipped to prevent the disease from spreading. Currently, due to the COVID-19 pandemic, the core industry automotive was highly impacted. Most of the manufacturing plants of automobiles were shut down, which declined the production of commercial and passenger vehicles. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption of Automotive Chromium. The governments of various countries are expected to increase their healthcare spending over the coming years to fight similar situations in the future. This is expected to ensure a positive demand for various Automotive Chromium products.

Report Coverage

The report: Automotive Chromium Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Automotive Chromium Industry.

By Plating: Decorative Chromium, and Hard Chromium

By Vehicle: Passenger Vehicles (Cars, and Two-wheelers), and Commercial Vehicles (Light Commercial Vehicle, Heavy Commercial Vehicle, and Buses and Coaches)

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa)

Key Takeaways

  • Europe mainly dominates the Automotive Chromium market, owing to the presence of key automotive vehicle production plants in this region.
  • Asia-Pacific has a rising demand for Automotive Chromium in growing Automobile industries in emerging economies allied with increasing decorative temptation in the region is likely to boost demand for the market in these regions.
  • Decorative Chromium plating dominates the Automotive Chromium market mainly because it offers stain resistance.
  • However, Chromium plating remains as high-cost spending for the various middle class and lower class people to afford, which, hence being a growth restraint for the Automotive Chromium market.

Figure: Europe Automotive Chromium Market Revenue, 2021-2027 (US$ Billion)

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Automotive Chromium Market Segment Analysis – By Plating

The Decorative Chromium plating segment held the largest share of 54% in the Automotive Chromium market in 2021. Decorative chromium is a thin layer of chromium deposit applied to a metallic or plastic substrate in order to impart particular surface properties like bright appearance, corrosion resistance, wear resistance, and scratch resistance. Decorative chromium is comparatively thinner than hard chromium. Additionally, decorative chromium depositions have a micro-discontinuity (micro-porous, micro-crack) structure in contrast to hard chromium, which is normally crack-free. This kind of Chromium plating is mainly applied in luxury passenger vehicles. As a result, the demand for Automotive Decorative Chromium plating can be seen positive, which contributes to increased business growth in the Automotive Chromium market.

Automotive Chromium Market Segment Analysis – By Vehicle

The Passenger Vehicles segment held the largest share in the Automotive Chromium market in 2021 and is growing at a CAGR of 9.5% during 2022-2027. The sale of passenger vehicles has been notably increasing in the developing regions, owing to the growing disposable income of the population in these regions. According to OICA, global passenger car sales was accounted for 63,730,387 in 2019 and 53,598,846 in 2020, showing a small decrease due to the impact of covid. As the development and urbanization of countries are growing at a rapid rate, more and more people from rural areas are moving to the cities, thereby which is increasing the demand for high-quality passenger cars for them. The number of passenger car-owners opting for chromium-plated parts in their vehicles has been multiplied because the plating doesn’t only enhances the decorative/aesthetic appearance of the vehicle but also protects it from rust and scratches as well. Many passenger vehicle manufacturers are using chromium-plated parts to their vehicles to enhance the overall aesthetic appeal to attract and increase their customer base, which has led to significant product demand in the Automotive Chromium industry during the forecast period.

Automotive Chromium Market Segment Analysis – By Geography

Europe region held the largest share in the Automotive Chromium market in 2021 up to 42% and remains the epicenter of development prospects in the global Automotive Chromium market. The presence of prominent manufacturers like Mercedes Benz, Porsche, BMW, and others, which inflates the market scope and continues the market growth in the European region. The automotive industry remains crucial for Europe’s prosperity. According to the European Union, “The automotive sector provides direct and indirect jobs to 13.8 million Europeans, representing 6.1% of total EU employment. 2.6 million people work in the direct manufacturing of motor vehicles, representing 8.5% of EU employment in manufacturing. The EU is among the world's biggest producers of motor vehicles.” The European Automotive industry, to strengthen the competitiveness and preserve its top place, supports global technological harmonization and also provides funding for its R&D. which has led to significant product demand in the Automotive Chromium industry in the European region during the forecast period.

Automotive Chromium Market Drivers

Increase of production activities in the automotive sector.

Globalization, industrialization, digitalization, and increasing competition are pressing the face of the industry. In addition, increasing safety requirements and voluntary environmental commitments by the automotive industry have also contributed to the changes ahead. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), there has been a global production of 57,262,777 vehicles in 2021, which shows a significant surge compared to the year 2020, where there was a production of 52,146,292, after it suffered a fall from 67,485,823 in 2019, due to the covid-19 pandemic. Proving the capacity of the automotive industry to recover in spite of a global crisis, consequently maintaining a market demand for Automotive Chromium as well.

Lower Toxicity compared to any other plating

From the health and goodwill of the environment perspective, trivalent chromium, which is used for the plating process, is comparatively less toxic. Because of the lower toxicity, it is not regulated as strictly, which reduces overhead costs. Other environmental concerns and health advantages include its higher cathode efficiencies, which cause less chromium air emissions; lower concentration levels, leading to less chromium waste, and anodes that don’t decompose. 

Automotive Chromium Market Challenges

Higher price associated with the Automotive Chromium

The high cost associated with the Automotive Chromium plays a spoilsport in the rapidly growing Automotive Chromium market over the forecast period. On average, the Automotive Chromium plating for vehicles ranges from $500 to $2500, which is higher in the price for most of the consumers, hindering the purchases made by the manufacturing units. Hence, this factor has become the major challenge of Automotive Chromium in terms of consumption, which constrains the growth of the market. 

Automotive Chromium Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Automotive Chromium top 10 companies include:

  1. Atotech Deutschland
  2. Borough Ltd
  3. Chem Processing Inc
  4. MacDermid Inc.
  5. U.S. Chrome
  6. Borough UK
  7. Taiyo Technology of America Inc.
  8. COLLINI GRUPPE
  9. Valley Chrome Plating Inc.
  10. F.H. Lambert Limited 

Recent Developments

  • In August 2019, Atotech acquires J-KEM International. Atotech states in their press release that “J-KEM is a global supplier of high-quality chemical products and processes for the printed circuit board and general metal finishing industries. J-KEM’s strong technology and customer relationships complement Atotech’s product portfolio and will help expand addressable markets and drive future growth. 

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1. Automotive Chromium Market- Market Overview
    1.1 Definitions and Scope
2. Automotive Chromium Market - Executive Summary
    2.1 Key Trends by Plating
    2.2 Key Trends by Vehicle
    2.3 Key Trends by Geography
3. Automotive Chromium Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Automotive Chromium Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Automotive Chromium Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Automotive Chromium Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Automotive Chromium Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Automotive Chromium Market – By Plating (Market Size -$Million/Billion)
    8.1 Decorative Chromium
    8.2 Hard Chromium
9. Automotive Chromium Market – By Vehicle (Market Size -$Million/Billion)
    9.1 Passenger Vehicle
        9.1.1 Cars
        9.1.2 Two Wheelers
    9.2 Commercial Vehicle
        9.2.1 Light Commercial Vehicle
        9.2.2 Heavy Commercial Vehicle
        9.2.3 Buses and Coaches
10. Automotive Chromium Market - By Geography (Market Size -$Million/Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of the Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Automotive Chromium Market – Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs and Partnerships
12. Automotive Chromium Market – Industry / Segment Competition landscape Premium Premium
    12.1 Company Benchmarking Matrix – Major Companies
    12.2 Market Share at Global Level - Major companies
    12.3 Market Share by Key Region - Major companies
    12.4 Market Share by Key Country - Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category - Major companies
13. Automotive Chromium Market – Key Company List by Country Premium Premium
14. Automotive Chromium Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
1.1 Decorative Chromium Plating Market 2019-2024 ($M) - Global Industry Research
1.2 Functional Chromium Plating Market 2019-2024 ($M) - Global Industry Research
2.Global Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
2.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Global Industry Research
2.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Global Industry Research
2.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Global Industry Research
3.Global Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 (Volume/Units)
3.1 Decorative Chromium Plating Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Functional Chromium Plating Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 (Volume/Units)
4.1 Two Wheeler Chromium Plating Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Passenger Vehicle Chromium Plating Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Commercial Vehicle Chromium Plating Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
5.1 Decorative Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
5.2 Functional Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
6.North America Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
6.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
6.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
6.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
7.South America Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
7.1 Decorative Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
7.2 Functional Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
8.South America Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
8.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
8.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
8.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
9.Europe Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
9.1 Decorative Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
9.2 Functional Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
10.Europe Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
10.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
10.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
10.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
11.APAC Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
11.1 Decorative Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
11.2 Functional Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
12.APAC Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
12.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
12.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
12.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
13.MENA Automotive Chromium:Application Estimate Trend Analysis Market 2019-2024 ($M)
13.1 Decorative Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
13.2 Functional Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
14.MENA Automotive Chromium:End Use Type Estimate Trend Analysis Market 2019-2024 ($M)
14.1 Two Wheeler Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
14.2 Passenger Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research
14.3 Commercial Vehicle Chromium Plating Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Automotive Chromium Market Revenue, 2019-2024 ($M)
2.Canada Automotive Chromium Market Revenue, 2019-2024 ($M)
3.Mexico Automotive Chromium Market Revenue, 2019-2024 ($M)
4.Brazil Automotive Chromium Market Revenue, 2019-2024 ($M)
5.Argentina Automotive Chromium Market Revenue, 2019-2024 ($M)
6.Peru Automotive Chromium Market Revenue, 2019-2024 ($M)
7.Colombia Automotive Chromium Market Revenue, 2019-2024 ($M)
8.Chile Automotive Chromium Market Revenue, 2019-2024 ($M)
9.Rest of South America Automotive Chromium Market Revenue, 2019-2024 ($M)
10.UK Automotive Chromium Market Revenue, 2019-2024 ($M)
11.Germany Automotive Chromium Market Revenue, 2019-2024 ($M)
12.France Automotive Chromium Market Revenue, 2019-2024 ($M)
13.Italy Automotive Chromium Market Revenue, 2019-2024 ($M)
14.Spain Automotive Chromium Market Revenue, 2019-2024 ($M)
15.Rest of Europe Automotive Chromium Market Revenue, 2019-2024 ($M)
16.China Automotive Chromium Market Revenue, 2019-2024 ($M)
17.India Automotive Chromium Market Revenue, 2019-2024 ($M)
18.Japan Automotive Chromium Market Revenue, 2019-2024 ($M)
19.South Korea Automotive Chromium Market Revenue, 2019-2024 ($M)
20.South Africa Automotive Chromium Market Revenue, 2019-2024 ($M)
21.North America Automotive Chromium By Application
22.South America Automotive Chromium By Application
23.Europe Automotive Chromium By Application
24.APAC Automotive Chromium By Application
25.MENA Automotive Chromium By Application
26.Chromium, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Macdermid Enthone Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Micro Metal Finishing, Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Chem Processing Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Mvc Holdings, Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.American Electroplating Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Borough Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Customchrome Plating Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Kakihara Industry Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Rotorua Electroplater Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Sarrel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Ogawa Asia Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Atotech Deutschland Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Electroplating, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Allied Finishing, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)