Global Automotive Chromium Market 2018-2022| Rising Demand for Thin Coatings Drives Growth| Technavio
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180705005428/en/
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.
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.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20180705005428/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING CHEMICALS/PLASTICS OTHER MANUFACTURING
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 07/05/2018 12:22 PM/DISC: 07/05/2018 12:22 PM