The trivalent chromium finishing market involves the process of electrolytically coating metal substrates like steel, aluminum, zinc and others with trivalent chromium. Trivalent chromium coatings are durable, corrosion resistant and provide aesthetic appearance to metal parts used in various end-use industries like automotive, construction, industrial machinery, and others. These advanced coatings have replaced traditional hexavalent chromium coatings due to stringent environmental and occupational health regulations.
The global trivalent chromium finishing market is estimated to be valued at US$ 331.3 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in The Trivalent Chromium Finishing Market are Kakihara Industries Co., Ltd.; Ronatec C2C, Inc., MacDermid, Inc.; Atotech; Sarrel Group; Chem Processing, Inc. The market is dominated by established players owing to capital intensive processing nature. MacDermid, Inc.and Atotech are the leading suppliers of trivalent chromium plating chemicals globally.
The growing demand from construction and industrial machinery industries is expected to drive the market during the forecast period. Trivalent chromium coatings provide corrosion protection to metal components and parts used in these industries. Additionally, increasing commercial and residential construction activities across emerging economies will further propel the product demand.
Technological advancements in trivalent chromium plating processes have made them more cost-effective and environment-friendly. Advanced bath chemistries reduce energy consumption and waste generation. Automated plating lines with advanced controls ensure consistent coating performance. These factors are increasing the adoption of trivalent chromium coatings replacing toxic hexavalent varieties.
Market Trends
Growing electric vehicle market - Trivalent chromium coatings are increasingly used in electric vehicle components like motor housings, battery casings providing corrosion protection in harsh operating conditions. Stringent emission norms are propelling the electric vehicle industry.
Advance plating on plastic substrates - Technological developments have enabled trivalent chromium plating on plastic parts with advanced pretreatment and plating processes. This is expanding the application scope of trivalent chromium into various intricate components.
Market Opportunities
Production of small engines and lawn equipment - Trivalent chromium coatings provides durable, aesthetic finish and corrosion protection to small engine components like cylinder heads, crankcases used in lawn mowers, chainsaws etc.
Water treatment infrastructure - Growing investments in water processing and management infrastructure globally is expected to drive the demand for trivalent chromium coated metal components used in desalination plants, purifiers etc. offering huge opportunities.
Impact of COVID-19 on Trivalent Chromium Finishing Market Growth
The outbreak of the Covid-19 pandemic impacted the growth of the trivalent chromium finishing market adversely in the initial months of 2020. The imposition of lockdowns across the globe led to temporary closures of automotive, aerospace, and construction industries which are key end-users of trivalent chromium finishing processes. This resulted in reduced demand for related chemicals and equipment. However, with relaxations in restrictions and resumption of operations from late 2020, demand started recovering gradually. The market is estimated to witness steadier growth prospects from 2022 as economic activities attain near normalcy levels.
Nevertheless, the long term growth outlook for the trivalent chromium finishing market remains positive. To sustain demand momentum in the post-pandemic period, market players will need to focus on product and process innovations. There is scope to develop bio-based and eco-friendly chromium solutions with reduced environmental footprint. Adopting advanced technologies like ion vapor deposition can help lower costs and improve throughput. Global efforts towards green recovery programs also offer new opportunities in the renewable energy and infrastructure domains. With resurgent industrial activities and continued substitution of hexavalent chromium, the trivalent chromium finishing market is projected to surpass its pre-pandemic size by 2025.
Geographical Regions with High Concentration in Trivalent Chromium Finishing Market
North America accounts for the largest share of the global trivalent chromium finishing market in terms of value. This is attributed to large scale end-use industries including automotive, aerospace, machinery and general manufacturing in countries like the US and Canada. Asia Pacific ranked second and is also the fastest growing regional market for trivalent chromium finishing. Expanding manufacturing sectors, rising industrialization and increasing adoption of trivalent chromium plating in countries such as China, India, Japan and South Korea are driving the growth. Another major value concentration exists in Western Europe led by Germany, UK, France and Italy where trivalent chromium coatings are widely applied across diverse fabrication processes.
Fastest Growing Region for Trivalent Chromium Finishing Market
Asia Pacific region is witnessing the fastest growth in the trivalent chromium finishing market currently. This is owing to massive industrial and infrastructural development occurring across the region. Rising disposable incomes have boosted consumer spending, fueling automobile production centers in China, India and other Southeast Asian countries. South Korea, Taiwan and other Asian nations are also emerging as global hubs for electronics and aircraft manufacturing. These trends are considerably raising the demand for trivalent chromium plating solutions amongst fabricators. Additionally, strict environmental norms favoring substitution of hazardous hexavalent chromium applications, especially in the automotive sector, are catalyzing the adoption of advanced trivalent technology in Asia Pacific. Supported by ongoing industrialization and urbanization led economic expansion, the region is expected to dominate market expansion over the forecast period.
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Global Trivalent Chromium Finishing Market is anticipated to reach USD 379.1 million by 2025.
The market is anticipated to grow at a healthy rate in the years to come.
The factors that propel the growth of the market include rising awareness about safety and health coupled with governing mandates to impose trivalent chromium as a replacement for hexavalent chromium, and extensive investigation to decrease the use of destructive chemicals in the chrome finishing procedure.
The trivalent chromium finishing industry is anticipated to grow at a significant CAGR of 5.4% in the upcoming period as the scope, product types, and its applications are increasing across the globe.Trivalent chromium finishing market may be explored by system, application, end use, and geography.
As compared to coating, plating has gained higher share because of huge acceptance in productions such as appliance, architecture, and automotive.Trivalent chromium finishing industry may be explored by application as Decorative, and Functional.
Availability of different shades and product differentiation could be attributed to decorative applications.
