New York, NY -- (SBWIRE) -- 12/22/2020 -- Trivalent chromium finishing is a decorative chromium plating method that is considered an eco-friendly substitute for hexavalent chromium finishing, owing to its anti-corrosion and scratch resistance properties, as well as the availability of various color options. This method involves chromium sulfate instead of chromium trioxide as its primary ingredient, which makes it less toxic and harmful as compared to hexavalent chromium plating.
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Market Drivers
As per the latest research by Reports and Data, the global trivalent chromium finishing market is poised to accumulate nearly USD 405.86 million by 2027, escalating at a CAGR of 3.9%. The amplifying use of trivalent chromate across the automotive and heavy equipment manufacturing industries, surging use in the hydraulic industry, increasing automotive production, rising government focus on promoting the product's use as a replacement for hexavalent chromium, and extensive use by automotive component manufacturers for excellent attributes like abrasion and wear resistance. Moreover, leading automotive OEMs, such as Chrysler, are increasingly replacing hexavalent chromium finishes with trivalent finishes for their lower toxicity, cost-efficiency, and higher aesthetic appeal.
Further key findings from the report suggest
From 2019 to 2027, plating systems are expected to experience most rapid value growth in various end-use industries, such as vehicles, hydraulics and heavy machinery.
Decorative was the main sales product group. The rising popularity is expected to drive growth because of corrosion and abrasion resistance.
Due to the widespread use of various decorative and functional chrome in vehicle parts, automotive was projected to be the largest end-use industry.
Due to the growing demand for energy in the automotive industry in the United States, substantial growth is expected in the next few years.
Higher initial investments to establish a trivalent chromium plant are, however, a challenge as it affects the system's adoption rate. Additional costs for the metal and non-metal finishing firms are associated with the production, commissioning and installation of these tanks.
Key participants include Asterion, LLC, Chem Processing, Inc., Atotech Deutschland GmbH, Electro Chemical Finishing Co., MacDermid Incorporated, Kakihara Industries Co., Ltd., Midland Polishing and Plating Ltd., Ronatec C2C, Inc., Poeton Industries Ltd., and Sarrel Group, among other
For the purpose of this study, Reports and Data have segmented the Trivalent Chromium Finishing market on the basis of System, Application, End-Use, and region:
System Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Plating
Conversion Coatings
Passivation
Application Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Decorative
Functional
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End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Automotive
Oil & Gas
Aerospace
Hydraulics & Heavy
Machinery
Others
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Rest of MEA
Regional Landscape
Europe is touted as the most dominant regional market for trivalent chromium finishing. Germany, which is a leading industrial hub, has expanded its manufacturing facilities over the years, which, in turn, has fueled the market growth in this region. The presence of globally leading automotive manufacturers in the region, burgeoning production of vehicles, and stringent government regulations against the use of hexavalent chromium are the other pivotal parameters behind the regional market expansion.
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