Chrome Plating Market Scope
Chrome plating, also known as chromium plating or simply chrome, is a surface finishing technique used to apply a thin layer of chromium onto the surface of a metal object. The primary purpose of chrome plating is to enhance the appearance and improve the durability of the object. Chrome is known for its shiny, reflective, and corrosion-resistant properties, which make it a popular choice for various applications, including automotive parts, motorcycle components, kitchen appliances, bathroom fixtures, and more. The demand for visually appealing products with high-quality surface finishes is driving the chrome plating market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Atotech Deutschl (Germany), Interplex Industries (Singapore), Kuntz Electroplating Inc. (Canada), Allied Finishing (United States), Peninsula Metal Finishing (United States), Roy Metal Finishing (United States), Sharretts Plating (United States), Pioneer Metal Finishing (United States), J & N Metal Products (United States) and Bajaj Electroplaters (India) |
CAGR | % |
Manufacturers in the chrome plating industry can implement various competitive strategies to thrive in the market. These include factors like sustainability, cost-efficiency, product quality, and customer satisfaction. Apart from this, profitable acquisitions and mergers as well as mutual partnerships help firms maintain their competitive edge.
Atotech Deutschl (Germany), Interplex Industries (Singapore), Kuntz Electroplating Inc. (Canada), Allied Finishing (United States), Peninsula Metal Finishing (United States), Roy Metal Finishing (United States), Sharretts Plating (United States), Pioneer Metal Finishing (United States), J & N Metal Products (United States) and Bajaj Electroplaters (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Chrome Plating market by Type , by Application (Automotive, Industrial, Electronics, Consumer Goods and Others) and Region with country level break-up.
On the basis of geography, the market of Chrome Plating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2021, Interplex, a provider of customized interconnect, high-precision, and mechanical products solutions, announced the successful acquisition of OCP Group, Inc. (OCP), a custom connector and cable assembly design and manufacturer based in San Diego, California.
In December 2020, Atotech, a specialty surface-finishing solutions company, announced the launch of its innovative and patented DynaSmart plating line for corrosion-resistant coatings. This addition to the company’s product line was engineered in Germany to address the increasing demand for advanced surface-finishing equipment in the company’s industrial end markets.
Influencing Trend:
Increasing Popularity for Decorative and Aesthetic Applications in Various Industries, Including Automotive and Consumer Goods
Market Growth Drivers:
Increasing Demand For Decorative and Protective Coatings in Automotive, Appliance, and Other Applications and Rising Demand from the Aerospace Industry Drives the Market for Chrome Plating
Challenges:
Growth of the Chrome Plating Industry is Hindered by the Market's Dependence on a Consistent Supply of Chromium. Challenges Arise Due to the Restricted Availability and Volatile Pricing of Chromium
Restraints:
High Cost Associated with Chrome Plating, Mainly Due to the High Cost of Raw Material and the Complex Nature of the Plating Process
Opportunities:
Growing Demand for Lightweight Corrosive-Resistant Materials Provides Opportunity to the Market
Key Target Audience
Manufacturers and Raw Material Suppliers, New Entrants/Investors, Research and Development Institutes, Market Research & Consulting Firms and Others