Rockville, MD, Nov. 26, 2024 (GLOBE NEWSWIRE) -- The chromium plated surface treatment market is expected to grow from US$ 283.1 million in 2024 to US$ 410.6 million in 2034. Fact. MR’s extensive study shows that the market will expand at a growth rate of 3.8% from 2024 to 2034.
The rising world demand for chromium plated materials is closely associated with the market requirement for lightweight and durable materials in aerospace. This is due to the choice of materials like aluminium, titanium, and composites to reduce aircraft weight which in turn increases aircraft fuel efficiency and reduces carbon emission. But these benefits are compromised as these materials need stronger treatments to make them resistant to damage; they have to withstand wear and tear. Coincidentally, the use of technologies such as chromium plating in processes like ion vapor deposition (IVD) and high velocity oxygen fuel (HVOF) grinding has been advanced.
With an intense desire to make aviation systems more effective, and address the issue of fuel efficiency and preservation of the environment among others, there is a big investment in surface treatments. The importance of chromium plating technologies is seen in the enhancement of mechanical properties of the ultralight materials. These enhancement enables their application in high stress components such as the landing gear, fasteners, and the engine stators. In addition, the increase in the production of commercial aircraft and military aircraft, as well as the investment in new designs of aircraft, also enhances the need for coatings, hence increasing the market.
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Key Takeaways from Market Study:
- Global chromium plated surface treatment market will grow at a CAGR of 3.8%, reaching US$ 410.6 million by the end of 2034.
- North America will expand at a CAGR of 3.9% from 2024 to 2034, capturing 26.8% of the market share in 2024 and offering an absolute opportunity of US$ 35.5 million.
- East Asia will account for 18.8% of market share in 2024, generating an absolute dollar opportunity of US$ 24.0 million between 2024 and 2034.
- Between 2024 and 2034, by plating technology the electroplating are expected to produce an absolute dollar opportunity US$ 43.1 million.
- With a 37.0% market share, by end user, commercial aircraft manufacturers segment is estimated to be worth US$ 104.7 million in 2024.
"Increasing environmental regulations, shift toward sustainable technologies and growing demand in military aerospace applications have contributed to the growth of the chromium plated surface treatment market” says a Fact.MR analyst.
Leading Players Driving Innovation in the Chromium Plated Surface Treatment Market:
Atotech; Valence Surface Technologies; Electro-Coatings, Inc.; Pioneer Metal Finishing; Hard Chrome Specialists; Bales Metal Surface Solutions; KOCH Finishing Systems; Advance Plating Technologies; Multinal Group; CZL Tilburg; Embee Processing; John Cockerill Surface Treatment; Betz-Chrom; ASCO Engineering & Surface Technology; Hardide; New Method Plating Inc.; Precision Industries, Inc; Hayden Corp.; G.W.P. AG; DVS Enterprises; Other Prominent Players
Market Development:
Key companies involved in chromium plated surface treatment market are Atotech, Valence Surface Technologies, Electro-Coatings, Inc., Pioneer Metal Finishing, Hard Chrome Specialists, Bales Metal Surface Solutions, KOCH Finishing Systems, Advance Plating Technologies, Multinal Group, CZL Tilburg, Embee Processing, John Cockerill Surface Treatment, Betz-Chrom, ASCO Engineering & Surface Technology, Hardide, New Method Plating Inc., Precision Industries, Inc, Hayden Corp., G.W.P. AG, and DVS Enterprises.
These companies in the chromium plated surface treatment market focuses on innovation, sound environmental practices, strategic partnership building, and expanding their product lines to improve performance and meet growing demand in many industries.
As an instance-
- In August 2023, Sharretts Plating adopted the enhancements in chrome-plating technologies with a focus on environmental sustainability. The improvement seeks to reduce the use of hazardous chemicals while maintaining high-quality surface treatments.
- In July 2022, Pioneer Metal Finishing signed a partnership with Allied Metal Company on the development and expanding capabilities and service offerings in chromium plating and surface treatment.
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Chromium Plated Surface Treatment Industry News:
- In November 2023, BASF and Krebs & Riedel worked together to provide eco-friendly chromium plating solutions.
- Covalent Materials Corporation improved its supply chain for chromium plating chemicals and goods in January 2023 by entering into a supply arrangement with Vanderbilt Chemicals.
- Pioneer Metal Finishing and Allied Metal Company partnered in July 2022 with the goal of enhancing the company's surface treatment and chromium plating capabilities and service offerings.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global chromium plated surface treatment market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on plating technology (ion vapor deposition (IVD) plating, high velocity oxygen fuel (HVOF) plating, LHE (lithium-induced homogeneous electrolysis) Zn-Ni plating, electroplating, and other plating technologies); component type (aircraft landing gear, engine components, fasteners, exterior components, and interior components); material (aluminum, steel, titanium, and other materials); end-user (commercial aircraft manufacturers, business jet manufacturers, military aircraft manufacturers, and general aviation manufacturers); service type (new aircraft manufacturing and MRO) across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
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