Automotive Chromium Finishing Market: Global Analysis, Regional Trends & Growth Forecast to 2027

Automotive chromium finishing market in North America is expected to record an appreciable CAGR of around 2.5% through 2027. Expanding automotive industry in the U.S. coupled with increasing consumer preference for overall luxury cars as well as electric vehicles is fostering the growth of automotive chromium finishing industry in North America. According to reliable sources, luxury cars outperformed the mainstream cars in the US market despite the COVID-19 crisis. Dominated by Mercedes-Benz, Tesla and Toyota models, the luxury segment recorded a significant growth of 44.3% growth over the span of first nine months of 2020 as against the 40% during the same period in the previous years. This is anticipated to impel the demand for automotive chromium in the region.

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Global revenue from the steel segment for automotive chromium finishing solutions is expected to hit a 2.5% CAGR through the next few years. This can be owed to the increasing preference for this metal in comparison to others. It has been estimated that an average passenger car that weighs up to 1.4 tons makes use of over 75% of the steel products.

The value of decorative chrome processes in the industry is anticipated to hold a major revenue share through 2027. This is in line with the growing requirement to enhance the appearance and shiny polishes on the vehicle parts. Also, the rising adoption of electric cars will add positive impetus to the demand for decorative chrome finishing in automobiles.

Shifting inclination towards chrome finishing usage in passenger as well as commercial vehicles coupled with the accelerating demand for luxury vehicles has fueled the demand for chromium finishing across the globe. Considering the increasing product demand, automotive chromium finishing market is projected to grow exponentially over the ensuing years.

Application of chromium finishing components across the automotive OEM sector will be responsible for considerable a growth rate in the coming years considering the longer lifespan of the automotive parts. Citing this with an example, the piston rings of a sports car operate at close to 300,000 miles and are further subject to change across various vehicle categories. This increases the replacement frequency of the OEM parts apart from cutting down the need for chrome finishing on the existing parts in short intervals.

Demand for automotive chromium finishing tools in passenger cars will gain substantial traction by 2027. This can be attributed to the higher preference for pre-owned vehicles and the surge in the household incomes of consumers. On the other hand, the market value from two-wheelers will reach over 5% of the global share in the same year due to their increasing use and the hike in premium motorcycles sales.

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Data Tables

TABLE 1     Global automotive chromium finishing market estimates and forecast, 2017 – 2027, (USD Million)

TABLE 2     Global automotive chromium finishing industry revenue by base material, (USD Million), 2017 – 2027

TABLE 3     Global automotive chromium finishing ma industry rket revenue process by end-user, (USD Million), 2017 – 2027

TABLE 4     Global automotive chromium finishing industry revenue by end-user, (USD Million), 2017 - 2027

TABLE 5     Global automotive chromium finishing industry revenue by vehicle, (USD Million), 2017 - 2027

TABLE 6     Global automotive chromium finishing industry revenue by region, 2017 – 2027 (USD Million)

TABLE 7     Global automotive chromium finishing industry estimates and forecast for metal, 2017 – 2027, (USD Million)

TABLE 8     Global automotive chromium finishing market revenue for metal, by region, 2017 – 2027 (USD Million)

TABLE 9     Global automotive chromium finishing market estimates and forecast for steel, 2017 – 2027, (USD Million)

TABLE 10     Global automotive chromium finishing industry revenue for steel, by region, 2017 – 2027 (USD Million)

TABLE 11     Global automotive chromium finishing industry estimates and forecast for aluminum, 2017 – 2027, (USD Million)

TABLE 12     Global automotive chromium finishing market revenue for aluminum, by region, 2017 – 2027 (USD Million)

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