SAN FRANCISCO, October 9, 2017 /PRNewswire/ --
The global trivalent chromate finishing market is expected to reach USD 379.1 million by 2025, according to a new report by Grand View Research, Inc. The increasing awareness about health and safety issues coupled with regulatory mandates to enforce trivalent chromium as a replacement for hexavalent chromium is projected to fuel the market growth. In addition, rising demand from the European region is further expected to propel the demand over the forecast period.
In terms of revenue, decorative was the largest application segment in 2016 and the trend is anticipated to continue at a growth rate of 4.6% over the forecast period. Increasing need for improving the surface appearance of components is expected to contribute to the growth. Decorative chrome is being widely used on account of various properties such as stain and abrasion resistance. The extensive research to reduce the use of harmful chemicals in the chrome finishing process is boosting the demand for trivalent chrome finishing. The growth in construction activities due to the rising demand from the residential sector on account of easy credit availability is anticipated to drive the decorative chrome application in the architecture industry.
Trivalent chromate finished components are used in the manufacturing of various types of aircraft, which require precise dimensional measurements and corrosion resistant property. The increasing national security threats and mounting global tensions have boosted the budget spending for aerospace in the defense sector. The increased spending is expected to trigger the need for various ferrous and non-ferrous aerospace components, which use trivalent chromium finishing to improve the appearance and other properties of aircraft parts. These factors together are anticipated to boost trivalent chromium finishing market demand over the forecast period.
Browse full research report with TOC on "Trivalent Chromium Finishing Market Analysis, By System (Plating, Conversion Coatings, Passivation), By Application (Decorative, Functional), By End Use, By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/trivalent-chromium-finishing-market
Further Key Findings From the Report Suggest:
- Plating segment is expected to experience the fastest growth, in terms of value, at a CAGR of 4.7% from 2017 to 2025 as plating systems find application in various end-use industries such as automotive, hydraulics, and heavy machinery
- Decorative emerged as the largest application segment, in terms of revenue, in 2016 and is estimated to be valued at USD 284.4 million by 2025. The growing popularity on account of corrosion and abrasion resistance properties is projected to drive the growth.
- Automotive was estimated as the largest end-use industry due to different types of decorative and functional chrome being widely used for components in vehicle manufacturing
- The U.S. trivalent chromium market, in terms of revenue, was valued at USD 44.07 million in 2016 and is estimated to reach USD 69.25 million by 2025. The automobile industry in the U.S. is projected to witness substantial growth over the next 8 years owing to the increasing demand for energy.
- Key players including MacDermid Incorporated; Atotech Deutschland GmbH; Sarrel Group; Chem Processing, Inc.; Kakihara Industries Co., Ltd.; and Ronatec C2C, Inc. have a prominent presence in the global trivalent finishing market
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Grand View Research has segmented the global trivalent chromate finishing market on the basis of system, application, end use, and region:
- Trivalent Chromium Finishing System Outlook (Revenue, USD Million; 2014 - 2025)
- Decorative Plating
- Functional Plating
- Conversion Coatings
- Decorative Conversion Coatings
- Functional Conversion Coatings
- Trivalent Chromium Finishing Application Outlook (Revenue, USD Million; 2014 - 2025)
- Trivalent Chromium Finishing End Use Outlook (Revenue, USD Million; 2014 - 2025)
- Oil & Gas
- Hydraulics & Heavy
- Appliance Industry
- Architectural Industry
- Fastener Industry
- Hardware Industry
- Trivalent Chromium Finishing Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
Read Our Blog By Grand View Research: http://www.grandviewresearch.com/blogs/bulk-chemicals
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.