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Automotive Chromium Finishing Market 2024 Growth, Segments And Forecast 2033
Automotive Chromium Finishing Market
The Business Research Company offers in-depth market insights through Automotive Chromium Finishing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
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
Major Driver - Surging Luxury Vehicle Sales Propel Growth In The Automotive Chromium Finishing Market
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.
Competitive Landscape:
Major companies operating in the automotive chromium finishing market report are Atotech Deutschland GmbH, Sarrel Group, MacDermid Incorporated, COLLINI GRUPPE, Collini GmbH, Eakas Corporation, Synergies Castings Limited, MVC Holdings LLC, Techmetals Inc., Allied Finishing Inc., United States Chrome Corporation, Chem Processing Inc., Electro-Spec Inc., Micro Metal Finishing LLC, Borough Ltd., Taiyo America Inc., Hadronics Inc., Roll Technology Corp., Valley Chrome Plating Inc., SAT Plating LLC, FH Lambert Limited, American Electroplating Company, Rotorua Electroplaters Ltd., Ogawa Asia Co. Ltd., Kakihara Industries Co. Ltd., Chromium Inc., Ultra Plating Corporation, Pentrate Metal Processing Inc., Pentrate Metal Processing, Seminole Metal Finishing Inc.
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Top Trend - Stek Usa Inc. Redefines Automotive Chromium Finishing With The Dynochrome Series Breakthrough In Chrome Paint Protection
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 Table Of Content For The Market Report Include:
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. Automotive Chromium Finishing Market Size And Growth
…..
27. Automotive Chromium Finishing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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