The Chrome Plating Market Size was valued at USD 17.29 billion in 2022, and is expected to reach USD 24.03 billion by 2030, and grow at a CAGR of 4.2% over the forecast period 2023-2030.
Through an electroplating procedure, the chrome plating process applies a thin layer of chromium to a substrate, such as metals or alloys. It has special qualities like hardness, longevity, great strength, and resistance to corrosion. It is divided into two categories: decorative chrome plating, sometimes referred to as thin-dense chrome plating, and hard chrome plating. Hard chrome plating is frequently used in various end-use industries to give a bright, smooth surface that is simpler to maintain. Chrome plating is a straightforward technique for increasing the wear and corrosion resistance of some components.
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Drivers:
The aerospace industry are placing more and more demand.
Increased sales of automobiles.
Restraints:
Existence of substitutes
Opportunity:
For automotive components and other products, several chrome plating industry participants are searching for an additional alternative plating procedure.
The expansion of the chrome plating market and other markets around the world has been adversely affected by the coronavirus outbreak. The primary industries in the chrome plating market, which had a significant slump throughout the evaluation period, are the automotive industry and the aerospace & military industry. The pandemic has led to an imbalance between market demand and supply, which is disrupting the global supply chain and triggering the shutdown of several production facilities in all countries. Furthermore, an important element impeding the expansion of numerous end-use sectors is a reliance on China that is too great. Many manufacturers have become overly dependent on China in recent years for the production-related raw materials.
After the lockdown was implemented, there was a supply deficit brought on by a lack of transportation, which had a detrimental impact on the expansion of the worldwide chrome plating sector during the evaluation period. Additionally, in the recent past, a decline in demand from a number of important industries, such as construction, textiles, and steel, has resulted in metal and mining companies operating at a capacity that is limited and stockpiling, as well as forced lockdowns that have reduced their scale of operations.
By Type: HardChrome Plating: In the electroplating process of hard chrome plating, chromium is electrochemically deposited from a chromic acid solution. All types of ferrous metals, stainless steel alloys, and non-ferrous metals like brass and copper can be used with it. Nickel plating gives the shiny surface and polishes the appearance of the thing in decorative chrome plating, which is an electroplating process that employs a layer of nickel or copper and a layer of chromium on the surface of an object.
By Application: Automobiles: Piston shock absorbers, mechanical parts, and other parts are frequently covered in chrome plating. Chrome plating is utilised in landing gear components in OEM (original equipment manufacturer) and MRO (maintenance, repair, and overhaul) applications in the aerospace and defence sector. As a result, during the course of the projected period, the rise of the aerospace industry is anticipated to exhibit promising growth for the worldwide chrome plating market.
Metal finishing: In the metal finishing sector, chromium plating is the go-to coating for a variety of metal finishing applications.
Transportation, the plumbing industry, and other items are included in the others segment. It is widely used in the hardware of musical instruments and household appliances.
By Type:
Bright Chrome
Satin Chrome
Chrome Flash
Brushed Chrome
By Application:
Automotive
Appliance
Gaming
Heavy Truck
Motorcycle
Plumbing Industry
Other
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North America: Due to the rise of the aerospace & military industries in developed nations like the US, the North American chrome plating market is anticipated to dominate the global market growth. The primary factor anticipated to propel the regional market is the rising demand for chrome plating in the aerospace and military sector to improve durability, wear and tear, and extend the life of aircraft parts and equipment.
Due to the expansion of the automobile industry across the continent, chrome plating is expected to be in high demand in Europe. The International Council on Clean Transportation Organization (ICCT) estimates that 15.5 million more new cars were registered in Europe in 2022 than in 2021. In 2019, 5.7 million new sport utility vehicles were sold.
Asia-Pacific: Due to the region's quick industrialization, Asia-Pacific has the fastest-growing regional market. Over the projection period, China is anticipated to propel regional market expansion in the Asia-Pacific region. Additionally, the expansion of the automotive industries in China and India is important and is anticipated to increase market demand in the years to come.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
J and N Metal Products (US), Al ASHRAFI Group (UAE), Sharretts Plating (US), Al Asriah Metal Coating L.L.C. (UAE), Peninsula Metal Finishing (US), Pioneer Metal Finish,ng (US), Allied Finishing (US), Atotech Deutschl (Germany), Interplex Industries (US), Kuntz Electroplating Market (Canada), Trinity Holdings (India), Roy Metal Finishing (US).
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 17.29 Billion |
| Market Size by 2030 | US$ 24.03 Billion |
| CAGR | CAGR of 4.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Bright Chrome, Satin Chrome, Chrome Flash, Brushed Chrome) • By Application (Automotive, Appliance, Gaming, Heavy Truck, Motorcycle, Plumbing Industry, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | J and N Metal Products(US), Al ASHRAFI Group (UAE), Sharretts Plating (US), Al Asriah Metal Coating L.L.C. (UAE), Peninsula Metal Finishing (US), Pioneer Metal Finish,ng (US), Allied Finishing (US), Atotech Deutschl (Germany), Interplex Industries (US), Kuntz Electroplating Market (Canada), Trinity Holdings (India), Roy Metal Finishing (US) |
| Key Drivers | • The aerospace industry are placing more and more demand. • Increased sales of automobiles. |
| RESTRAINTS | • Existence of substitutes |
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: The expansion of the chrome plating market and other markets around the world has been adversely affected by the coronavirus outbreak. The primary industries in the chrome plating market, which had a significant slump throughout the evaluation period, are the automotive industry and the aerospace & military industry. The pandemic has led to an imbalance between market demand and supply, which is disrupting the global supply chain and triggering the shutdown of several production facilities in all countries. Furthermore, an important element impeding the expansion of numerous end-use sectors is a reliance on China that is too great. Many manufacturers have become overly dependent on China in recent years for the production-related raw materials.
Ans: Existence of substitutes are the restraints for Chrome Plating Market.
Ans: Chrome Plating Market Size was valued at USD 16.6 billion in 2021, and expected to reach USD 22.2 billion by 2028, and grow at a CAGR of 4.2 % over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Chrome Plating Market Segment, By Type
8.1 Bright Chrome
8.2 Satin Chrome
8.3 Chrome Flash
8.4 Brushed Chrome
9.Chrome Plating Market Segment, By Application
9.1 Automotive
9.2 Appliance
9.3 Gaming
9.4 Heavy Truck
9.5 Motorcycle
9.6 Plumbing Industry
9.7 Other
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profile
11.1 J and N Metal Products(US)
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Al ASHRAFI Group (UAE)
11.3 Sharretts Plating (US)
11.4 Al Asriah Metal Coating L.L.C. (UAE)
11.5 Peninsula Metal Finishing (US)
11.6 Pioneer Metal Finishing (US)
11.7 Allied Finishing (US)
11.8 Atotech Deutschl (Germany)
111.9 Interplex Industries (US)
11.10 Kuntz Electroplating Market (Canada)
11.12 Trinity Holdings (India)
11.13 Roy Metal Finishing (US)
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13. Conclusion
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