Automotive Chromium Finishing Market: Growth Prospects, Key Vendors, Future Scenario Forecast to 2027
Automotive chromium finishing market size is set to exceed USD 4.5 billion by 2027. The value of decorative chrome processes in the industry is anticipated to hold a major revenue share through 2027. This is in line with the growing requirement to enhance the appearance and shiny polishes on the vehicle parts. Also, the rising adoption of electric cars will add positive impetus to the demand for decorative chrome finishing in automobiles.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4923
Global revenue from the steel segment for automotive chromium finishing solutions is expected to hit a 2.5% CAGR through the next few years. This can be owed to the increasing preference for this metal in comparison to others. It has been estimated that an average passenger car that weighs up to 1.4 tons makes use of over 75% of the steel products.
Demand for automotive chromium finishing tools in passenger cars will gain substantial traction by 2027. This can be attributed to the higher preference for pre-owned vehicles and the surge in the household incomes of consumers.
The expansion in the number of luxury vehicles will bolster the need for chromium finishing, mainly in the U.S., China, and various European countries. This has resulted in the higher deployment of EV technology across the automotive sector in these areas. Furthermore, numerous automotive manufacturers are coming up with innovations to offer a lustrous and bright finish on the vehicle body and parts. On the other hand, the market value from two-wheelers will reach over 5% of the global share in the same year due to their increasing use and the hike in premium motorcycles sales.
Application of chromium finishing components across the automotive OEM sector will be responsible for considerable a growth rate in the coming years considering the longer lifespan of the automotive parts. Citing this with an example, the piston rings of a sports car operate at close to 300,000 miles and are further subject to change across various vehicle categories. This increases the replacement frequency of the OEM parts apart from cutting down the need for chrome finishing on the existing parts in short intervals.
The automotive chromium finishing market in North America is expected to record an appreciable CAGR of around 2.5% through 2027. Expanding automotive industry in the U.S. coupled with increasing consumer preference for overall luxury cars as well as electric vehicles is fostering the growth of automotive chromium finishing industry in North America.
Get This Report Customized To Your Requirements @ https://www.decresearch.com/roc/4923
Some Point from Table of Contents:
Chapter 4 Automotive Chromium Finishing Market, By Base Material
4.1 Global automotive chromium finishing market base material insights
4.2 Metal
4.2.1 Market estimates and forecast, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.2.2 Steel
4.2.2.1 Market estimates and forecast, 2017 - 2027
4.2.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3.2 Aluminum
4.3.2.1 Market estimates and forecast, 2017 - 2027
4.3.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3.3 Others (zinc, nickle. non-ferrous metals, etc.)
4.3.3.1 Market estimates and forecast, 2017 - 2027
4.3.3.2 Market estimates and forecast, by region, 2017 - 2027
4.4 Plastics
4.4.1 Market estimates and forecast, 2017 - 2027
4.4.2 Market estimates and forecast, by region, 2017 - 2027
Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/automotive-chromium-finishing-market
Browse Related News: