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Europe Automotive Chromium Finishing Market Share to Hit Growth at USD 1.2 Billion by 2027

Author : Ronak Bora | Published Date : 2021-09-02 

Europe automotive chromium finishing market forecast is being pushed by presence of major car makers in the region. The brilliant and glossy surface provided by chromium, as well as durability and aesthetic appeal to car exteriors and interiors is contributing to rising product demand in luxury vehicles.

Higher sales of customised cars and increased small vehicle manufacturing are driving the use of automotive chrome finishing. Apart from facilitating free movement of people and commodities throughout the continent, automakers contribute a substantial revenue toward government income. As there are more than 313 million vehicles on the road across the region, Europe automotive chromium finishing market outlook is certain to thrive through 2027.

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Atotech Deutschland GmbH, Borough Ltd., Metzka GmbH, Allenchrome Electroplating Ltd., Andritz Group, Reeve Metal Finishing Company, VERBRUGGE, and Silchrome Plating Ltd. are among the leading automotive chromium finishing manufacturers and suppliers in Europe.

Europe automotive chromium finishing market size is estimated to reach USD 1.2 billion through 2027. The following factors are defining the market trends:

Germany to see growing EV adoption

Germany automotive chromium finishing industry share is expected to be more than 35% of the regional market through 2027. Product consumption is being driven by the presence of a significant number of vehicle manufacturers in the country. Germany is a major EV manufacturer and is anticipated to be the second largest producer of electric vehicles by 2025.

According to the German government, all filling stations in Germany must have EV charging stations built for charging electric vehicles. As of 2020, there were approximately 52,096 commercial EV charging sites in the region. This indicates that there is likely to be significantly more market demand for electric vehicles in Germany during the forecast period, reflecting the growth of Europe automotive chromium finishing market.

Luxury cars to pick up pace

Europe automotive chromium finishing market share from luxury vehicles segment is expanding owing to the increasing use of chrome plating for greater visual appeal. Another factor driving product deployment is an increase in the number of high- and ultra-high-net-worth individuals in Europe.

In the final quarter of 2020, the comeback for luxury vehicles was already beginning, softening the initial blow of the COVID-19 epidemic. For instance, in 2020, Volkswagen-owned Lamborghini's annual sales surpassed their 2019 record of 7,430 vehicles, fuelled by their heavy Urus SUV sales, which costs over 200,000 euros.

Increasing usage of aluminium

Europe industry share from the aluminium product segment is set to witness substantial expansion in the future years. Chromium plating is one of the most popular alternatives amongst automakers because of its unique metallurgical properties, which make chromium an ideal surface finishing material. The manufacturing of electric vehicles is expected to increase from about 0.75 million in 2019 to 4 million by 2025. Additionally, government initiatives and favourable government regulations will encourage the growth of Europe automotive chromium finishing market.

Europe aftermarket to gain traction

From 2021 to 2027, Europe automotive chromium finishing market share from aftermarket users is expected to see a CAGR of 3.1%. The expanding number of repair & maintenance facilities, as well as the increased use of chrome finishing by several vehicle owners is contributing significantly to the aftermarket expansion. Rising interest toward the purchase of electric cars will provide additional profitable prospects for automotive chromium finishing industry participants.

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Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research Methodology

1.2    Market estimation & forecast parameters

1.3    List of Data sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Europe Automotive Chromium Finishing market snapshot

Chapter 3   Europe Automotive Chromium Finishing Industry Insights

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Future trends

3.4.1    Innovation Landscape

3.5    Raw material analysis

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Drivers

3.7.2    Restraints

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1689/europe-automotive-chromium-finishing-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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