The chrome plating market size is valued at $17.8 billion in 2023 and is expected to reach $26.9 billion by 2032 at a CAGR of 4.6%.
FORT COLLINS, Colo., April 28, 2024 (Globe Newswire) —
The advantages of chrome plating will foster further growth in the coming years.
of Chrome plating market With the advent of innovative and environmentally friendly alternatives to traditional hexavalent chromium plating technology, the company faces promising prospects. Among these alternatives, trivalent chromium plating stands out, utilizing less hazardous chromium while offering multiple benefits including reduced environmental footprint, improved worker safety, and increased process efficiency. bring. Additionally, integrating advanced automation and digitalization into plating procedures has revealed new opportunities to increase efficiency, consistency, and quality control. Automated plating systems have the potential to drive cost savings and strengthen the competitiveness of chrome plating companies by improving accuracy, reducing human error, and optimizing resource allocation.
Despite strong demand, the chrome plating market faces significant constraints due to strict environmental regulations governing hexavalent chromium, a toxic substance widely used in traditional chrome plating processes. Increasing concerns about the potential health and ecological effects associated with hexavalent chromium have led to increased regulations and restrictions in various regions. For example, the European Union’s introduction of the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulation aims to phase out the use of hexavalent chromium in certain applications. Similarly, the U.S. Environmental Protection Agency (EPA) has established strict guidelines governing the handling and disposal of hexavalent chromium compounds, thereby imposing significant compliance costs on chrome plating companies.
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Segmentation overview:
The chrome plating market is segmented into type, application, and region.
Automotive plating is the largest application area and is driving market growth.
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Based on market segmentation by application, the largest segment of the chrome plating market in 2023 was the automotive industry. Chrome plating is widely used on various auto parts for decorative and functional purposes, such as bumpers, grilles, wheels, and interior trim.
Hard chrome plating is a major segment and maintains a high market share.
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Based on market segmentation by type, hard chrome plating was the largest segment in the chrome plating market in 2023. Due to its excellent properties, this type of plating is widely used in various industrial applications such as machine tools, hydraulic cylinders, and automotive parts. Hardness, wear resistance and durability.
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Chrome Plating Market Report Highlights:
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Some of the prominent players in the Chrome Plating market report include Atotech, MacDermid Alpha Electronics Solutions, Interplex Industries, Allied Finishing, Peninsula Metal Finishing, Kuntz Electroplating, Asterion LLC, Electro Chemical Finishing, Enesol Inc., Suburban Ptting Co., Inc., and Uemura International Co., Ltd.
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