27th August 2019 – 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. The market may be
explored by system as Plating, Passivation, and Conversion Coatings. The
“Trivalent Chromium plating” dominated the market in 2016 and is anticipated to
maintain its dominance by 2025. As compared to coating, plating has gained
higher share because of huge acceptance in productions such as appliance,
architecture, and automotive.
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Trivalent chromium finishing industry
may be explored by application as Decorative, and Functional. The “Decorative”
segment dominated the market in 2016 and anticipated to maintain its dominance
by 2025. Availability of different shades and product differentiation could be
attributed to decorative applications. Chromium improves the appearance of
components giving rise to a glossy and corrosion resistant surface.
Trivalent chromium finishing market may
be explored by end use as Automotive, Aerospace, Oil & Gas, Machinery,
Hydraulics & Heavy, and Others may include Architectural Industry,
Appliance Industry, Hardware Industry, and Fastener Industry. The “Automotive”
segment dominated the trivalent chromium finishing industry in 2016 and is
anticipated to maintain its dominance by 2025. The “Automotive” segment could
be further explored as passenger vehicles, commercial vehicles, and
two-wheeler.
Europe accounted for the major share of
the Trivalent Chromium Finishing Market Size in 2016 and will continue to lead
in the forecast period. The factors that could be attributed to the occurrence
of regulatory guidelines and rising trend toward compliance of governing rules.
Some of the key players that fuel the growth of the trivalent chromium
finishing industry comprise Kakihara Industries Co., Ltd., Sarrel Group,
Atotech Deutschland GmbH, Ronatec C2C, Inc, Chem Processing, Inc, MacDermid
Incorporated. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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