Trivalent chromium finishing is used for metal finishing across a wide range of industries owing to its advantages in corrosion protection and hardening properties. Trivalent chromium plating helps provide impressive corrosion resistance and hardness, helping increase the lifespan of metal components. It is used for plating on automotive components, architectural components, industrial machinery, and other applications that require wear and corrosion resistance.
The Global Trivalent Chromium Finishing Market is estimated to be valued at US$ 331.3 million in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2024 to 2031.
Key players operating in The Trivalent Chromium Finishing Market are Kakihara Industries Co., Ltd.; Ronatec C2C, Inc., MacDermid, Inc.; Atotech; Sarrel Group; Chem Processing, Inc. Trivalent chromium plating is witnessing increased adoption over hexavalent chromium as it is more environment-friendly and compliant with various regulations. The automotive industry in particular has increased usage of trivalent chromium for undercarriage, brake pads, and other components as it helps increase lifespan of these parts. The growing electronics industry is also boosting demand for trivalent chromium plating as it is used for corrosion protection on circuit boards and electronic components.
The growing demand from end-use industries and stringent environmental regulations regarding the usage of carcinogenic hexavalent chromium are fueling the growth of the global trivalent chromium finishing market. Various governments across the world have also banned the use of hexavalent chromium due to safety concerns. This is increasing the replacement demand for trivalent chromium finishing. Additionally, the market players are expanding their production capacities and global footprint to leverage the opportunities in emerging markets like Asia Pacific and Latin America. They are also investing in R&D to develop advanced trivalent chromium plating solutions.
A major market trend is the development of non-chromate pretreatment and post-treatment options. Due to environmental and toxicity concerns regarding chromium, efforts are ongoing to develop chromium-free alternatives. Major companies are investing in eco-friendly coating options utilizing non-chromate chemistries as a sustainable substitutes for trivalent chromium platings. However, chromium-free technologies still need to prove their long-term corrosion resistance matched by trivalent chromium.
Porter’s Analysis
Threat of new entrants: Low barriers for new players to enter due to moderate capital requirement and technology.
Bargaining power of buyers: High bargaining power for buyers due to availability of close substitutes and standard products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw materials sources.
Threat of new substitutes: Threat of new substitutes is moderate as other finishing processes like nickel and zinc plating offer close substitutes.
Competitive rivalry: High competition due to large number of regional and international companies offering standardized products.
Geographical Regions
The trivalent chromium finishing market in terms of value is highly concentrated in Asia Pacific region mainly due to presence of large number of automotive manufacturing industries in countries like China, Japan and India. The region accounted for more than 35% of the global market share in 2024.
North America region is currently the fastest growing market for trivalent chromium finishing driven by increasing adoption in end use industries like automotive, construction and aerospace in United States and Canada. Stringent environmental regulations regarding usage of hexavalent chromium compounds is further driving increased preference for non-toxic trivalent chromium compounds in the region. The North American market is expected to expand at a robust CAGR during the forecast period.