Automotive Chromium Market To Reach $3.12 Billion By 2030

January 2025 | Report Format: Electronic (PDF)

Automotive Chromium Market Growth & Trends

The global automotive chromium market is expected to reach USD 3.12 billion by 2030, expanding at a CAGR of 4.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising chromium plating demand from the passenger vehicles segment, on account of its superior corrosion resistance properties, will augment the market growth over the next nine years.

The passenger vehicle segment held the largest market share. Chrome plating is being increasingly used for plating various passenger vehicle components such as bumpers, grills, mirror covers, inner & outer door handle, interior decorative parts, headrest, and other parts. In addition, the growing popularity of chrome plating in passenger vehicles, since it enhances aesthetics is expected to propel the market growth over the forecast period.

The decorative plating application segment accounted for the largest share in the global automotive chromium market. The decorative plating is being increasingly used on account of its beneficial properties such as stain and abrasion resistance, which is expected to have a positive impact on the market. However, stringent environmental regulations laid by various governments in matured economies are expected to pose a challenge to the growth of the automotive chromium market over the next nine years.

Increasing chrome plating on two-wheelers on account of enhanced corrosion and wear resistance offered; would propel the industry development. The rise in the manufacturing of vehicles in North America and the Asia Pacific region is anticipated to fuel the demand for automotive chromium over the forecast period. The increasing number of two-wheelers, in North America, is expected to boost the chromium plating for various components including headlight, frame, nuts & bolts, wheels, and others. The benefit of improved two-wheeler aesthetics on account of chrome plating would propel the market from 2016 to 2025.

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Automotive Chromium Market Report Highlights

Decorative plating led the market with a revenue share of 72.6% in 2023 as it is a high-performance coating used in various industries, including automotive, to enhance part durability and functionality.
Passenger vehicles accounted for the largest market revenue share of 53.5% in 2023. In the automotive sector, chromium is used in passenger vehicles to enhance aesthetics and design through chrome plating on exterior parts such as grilles, door handles, and mirrors.
The automotive chromium market in China dominated the Asia Pacific market in 2023, driven by a strategic shift in production centers towards developing economies in China.