LONDON--(BUSINESS WIRE)--Jul 5, 2018-- analysts forecast the global automotive chromium market to grow at a CAGR of more than 6% during the period 2018-2022, according to their latest market research report.

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Technavio has published a new market research report on the global automotive chromium market from 2018-2022.

The rising demand for thin coatings in the automotive industry is one of the major trends being witnessed in the . Automotive manufacturers use thin coatings to reduce costs and environmental impacts. These coatings protect automotive components from corrosion and other environmental conditions. They reduce the overall vehicle weight and increase the service life and performance.

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Technavio market research analysts highlight the increasing demand for decorative chrome plating as a key factor contributing to the growth of the global automotive chromium market:

Global automotive chromium market: Increasing demand for decorative chrome plating

Decorative chrome plating protects automotive components from corrosion, scratch, and wear and tear. It provides brightness and enhances their appearance. Hexavalent and trivalent chromium are popularly used for decorative chromium plating of automotive components. Decorative chrome plating is mainly applied to exterior automotive components or vehicle parts such as door handles.

According to a senior analyst at Technavio for research on metals and minerals, “Decorative chrome plating is thinner than functional chrome plating with the latter being used for protection from external conditions than appearance. The decorative chrome plating technology yields favorable results when applied over a layer of nickel or copper. It is extensively used in automotive applications as it imparts a unique bluish-white luster to decorative parts.”

Global automotive chromium market: Decorative plating segment leads the market

This market research report segments the global automotive chromium market into the following applications (decorative plating and functional plating), end-users (passenger vehicles, two-wheelers, and commercial vehicles), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the two major applications, the decorative plating segment held the largest market share in 2017, contributing to over 70% of the market. This application segment will dominate the global market throughout the forecast period.

The Americas was the leading region for the global automotive chromium market in 2017. It accounted for a market share of approximately 45%. It was followed by EMEA and APAC. The Americas is expected to project the fastest growth during the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market sizing Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

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www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS OTHER MANUFACTURING

SOURCE: Technavio Research

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PUB: 07/05/2018 12:22 PM/DISC: 07/05/2018 12:22 PM

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