The use of trivalent chromium finishing in various end-use industries such as automotive, appliance, and architecture is expected to augment market growth over the forecast period. In addition, properties such as excellent wear resistance, corrosion resistance, and low coefficient of friction are expected to boost the market growth. The growing emphasis on improving the aesthetics of automotive, appliances, and architecture in developed economies such as Europe and North America owing to the increased spending capability of consumers is also expected to trigger market growth over the forecast period
Rising investments to develop innovative trivalent chromium plating solutions in an attempt to reduce the usage of hazardous materials is expected to drive demand over the forecast period. The repeated or prolonged exposure of individuals to hexavalent chrome may cause problems related to respiratory tracts such as asthma, wheezing, and shortness of breath. However, the demand for trivalent is likely to be affected due to the growing competition among industries to provide environmental-friendly finishing. Several regional governments emphasize adherence to regulations pertaining to the harmful element levels in the plating materials.
The recovery in the upstream sector of the oil & gas market is projected to boost exploration activities, which in turn is likely to result in an increased demand for oil & gas equipment, thereby increasing the demand for trivalent chromium finishing. Companies involved in the oil & gas business are exploring new investment opportunities to develop oil rigs. This requires equipment that can operate under harsh environmental conditions such as high temperature and pressure.
In addition to these benefits, trivalent chromium finishing offers excellent wear and abrasion resistance, which allows the equipment to perform under high pressure, vacuum, magnetic field, and humidity, making it an ideal choice for oil & gas exploration. These factors together are anticipated to boost the trivalent chromium finishing demand in the oil & gas industry over the forecast period.
Trivalent chromium finishing is finding increasing use in automotive in developed countries as most of them are focusing on regulatory compliances. Technological advancements in horizontal drilling are considered to be the primary reason for the boom in shale oil & gas production in North America. The overall production has increased significantly in the region owing to the use of equipment that can withstand extreme environmental and climatic conditions.
Oil & gas exploration companies in the region are always on the lookout for options to help them reduce operational costs and increase efficiency. These goals can be achieved with the availability of equipment that can be used for a longer period during exploration activities. Trivalent chromium finishing extends the life of the equipment. These factors together are expected to boost the demand for chromium finishing in the North American region over the forecast period.
Key players in the market have strengthened their presence across the value chain by increasing their spending in R&D, partnerships, and acquisitions with large companies. Some of the key market players in the market are MacDermid Incorporated; Atotech Deutschland GmbH; Sarrel Group; Chem Processing, Inc.; Kakihara Industries Co., Ltd.; and Ronatec C2C, Inc.
In-depth report on global trivalent chromium finishing market by Grand View Research:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.