The
global trivalent chromate finishing market is expected to
reach USD 379.1 million by 2025, according to a new report by Grand View
Research, Inc. The increasing awareness about health and safety issues coupled
with regulatory mandates to enforce trivalent chromium as a replacement for
hexavalent chromium is projected to fuel the market growth. In addition, rising
demand from the European region is further expected to propel the demand over
the forecast period.
In
terms of revenue, decorative was the largest application segment in 2016 and
the trend is anticipated to continue at a growth rate of 4.6% over the forecast
period. Increasing need for improving the surface appearance of components is
expected to contribute to the growth. Decorative chrome is being widely used on
account of various properties such as stain and abrasion resistance. The
extensive research to reduce the use of harmful chemicals in the chrome
finishing process is boosting the demand for trivalent chrome finishing. The
growth in construction activities due to the rising demand from the residential
sector on account of easy credit availability is anticipated to drive the
decorative chrome application in the architecture industry.
Trivalent
chromate finished components are used in the manufacturing of various types of
aircraft, which require precise dimensional measurements and corrosion
resistant property. The increasing national security threats and mounting
global tensions have boosted the budget spending for aerospace in the defense
sector. The increased spending is expected to trigger the need for various
ferrous and non-ferrous aerospace components, which use trivalent chromium
finishing to improve the appearance and other properties of aircraft parts.
These factors together are anticipated to boost trivalent chromium finishing
market demand over the forecast period.
U.S.
trivalent chromium finishing market, by system type, 2014 - 2025 (USD Million)
Browse full research report on Trivalent
Chromium Finishing Market: http://www.grandviewresearch.com/industry-analysis/trivalent-chromium-finishing-market
Further
Key Findings From the Study Suggest:
- Plating segment is expected to experience the
fastest growth, in terms of value, at a CAGR of 4.7% from 2017 to 2025 as
plating systems find application in various end-use industries such as
automotive, hydraulics, and heavy machinery
- Decorative emerged as the largest application
segment, in terms of revenue, in 2016 and is estimated to be valued at USD
284.4 million by 2025. The growing popularity on account of corrosion and
abrasion resistance properties is projected to drive the growth.
- Automotive was estimated as the largest end-use
industry due to different types of decorative and functional chrome being
widely used for components in vehicle manufacturing
- The U.S. trivalent chromium market, in terms of
revenue, was valued at USD 44.07 million in 2016 and is estimated to reach
USD 69.25 million by 2025. The automobile industry in the U.S. is
projected to witness substantial growth over the next 8 years owing to the
increasing demand for energy.
- Key players including MacDermid Incorporated;
Atotech Deutschland GmbH; Sarrel Group; Chem Processing, Inc.; Kakihara
Industries Co., Ltd.; and Ronatec C2C, Inc. have a prominent presence in
the global trivalent finishing market
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-trivalent-chromium-finishing-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, the company offers market intelligence studies
ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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