Automotive Chromium Finishing Market Size & Share 2021 to 2027
Market Size by Base Material (Metal [Steel, Aluminum], Plastics), by Process (Decorative Chrome, Hard Chrome), by End User (Automotive OEM, Automotive Aftermarket), by Vehicle (Passenger Car, LCV, HCV, Two-Wheelers), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI4923
|
Published Date: January 2021
|
Report Format: PDF
Download Free PDF
Authors:
Kiran Pulidindi, Akshay Prakash
Automotive Chromium Finishing Market Size
Automotive Chromium Finishing Market size exceeded USD 3.98 billion in 2020 and is poised to witness over 3% CAGR from 2021 to 2027. Superior aesthetic and functional characteristics of the product is escalating industry growth.
The automotive chromium finishing sector is likely to see significant growth owing to increasing sales of luxury vehicles across the world. Premium car manufacturers have reported a considerable increase in the number of cars sold over the past few years. This can be mainly attributed to the increasing number of High Net Worth Individuals (HNI) and Ultra High Net Worth Individuals (HNI) around the globe. The rising demand for aesthetically appealing colors along with trending chrome wrapping onto the exterior part of the vehicle is propelling industry development in this segment.
Another key growth enabling factor is increase in vehicle sales in Asia Pacific. Passenger car sales across countries including China, Japan, India, etc., have showcased stable growth over the past few years, which is mainly supported by increasing deployment of electric vehicles in these countries. China reported production of around 2.58 million units of battery-enabled vehicles and 0.77 million units of plug-in hybrid electric cars in 2019. These figures are increasing at a rapid rate due to rising concerns over carbon emission and increasing government focus on sustainability.
Ongoing coronavirus pandemic had slowed down the growth of automotive chromium finishing market between 2019 and 2020 impelled by the temporary suspension of repair shops and maintenance activities of vehicles. Globally, car manufacturers have faced significant losses in terms of revenue on account of international trade restrictions and stoppage in production. North America and Europe observed significant drop in growth rate of the automotive chromium finishing sector during the pandemic year. This will be subjected to vehicle output coupled with reopening of repair shops in their respective countries for 2020.
Automotive Chromium Finishing Market Analysis
The metal material segment generated over USD 3 billion in 2020. Chrome-plated parts are gaining attention from part manufacturers including alloy wheels, grills, fuel doors, piston rods, etc. Additionally, increasing product demand for decorative purposes is fueling the need for chrome finishing in the automotive sector. Rising vehicle sales along with increase in revenue of premium & luxury car is predicted to increase the product demand.
The decorative chrome segment is expected to hold more than 85% of the automotive chromium finishing market share through 2027 driven by increasing product consumption in the automotive aftermarket segment. The thickness of decorative chrome ranges between 0.05 and 0.5 microns and can be usually applied on bright copper or nickel plating. These products offer excellent corrosion protection and possess high durability, further increasing their popularity in the automotive chromium finishing sector.
Automotive OEM segment is projected to expand at around 2% CAGR during 2021 to 2027. Car manufacturers including BMW, Ford, Daimler, Bentley, etc., utilize chrome finishing for both decorative as well as functional applications. The rising production of vehicles across the globe will boost the share of OEMs through 2027. Additionally, premium car manufacturers are also focusing on introducing electric cars in the market, which is supporting the product demand.
Passenger cars segment is estimated to capture above 85% of the automotive chromium finishing market share in 2027. The rising disposable income in emerging economies is driving the sales of passenger cars. Chromium is well known for its superior characteristics including excellent hardness, high durability, superior corrosion resistance, etc., further enhancing its dominance in the industry. However, many car manufacturers are investing in alternative finishing methods owing to the hazardous nature of chrome. Such trends may hamper the overall growth rate of the automotive chrome finishing industry in the passenger car segment post 2027.
Asia Pacific automotive chromium finishing market size is forecast to account for more than 50% share by 2027. Increasing sales of passenger cars and rising repair and maintenance activities of vehicles is fueling the regional market revenue.
The growing penetration of electric vehicles in Asia Pacific is anticipated to drive the revenue share of chromium finishing in the automotive sector by 2027. Japan has planned to impose ban on sales of new petrol cars by 2050, which is expected to increase the sales of hybrid and electric cars. Such trends will create the need for plated parts and car plating in the region, further increasing the share of chrome finishing in the long term.
Automotive Chromium Finishing Market Share
The automotive chromium finishing market is highly fragmented due to presence of multiple small-to-medium scale manufacturers. Some of the major market players are
The key strategies adopted by these players include capacity expansion, new product launches, and strategic partnerships with industry participants.
The market research report on automotive chromium finishing includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2027 for the following segments:
Click here to Buy Section of this Report
Market, By Base Material
Market, Process By End-user
Market, By End-user
Market, By Vehicle
The above information is provided on a regional and country basis for the following:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →