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    Europe Automotive Chromium Finishing Market Size By Process (Hard chrome, Decorative chrome), By Base Material (Plastics, Metal {Aluminum, Steel, Others}), By End-user (Automotive Aftermarket, Automotive OEM), By Vehicle (HCV, LCV, Two-wheelers Passenger Cars), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027
    Published Date: February 2021   |   Report ID: GR1689   |   Delivery: PDF  Request Free Sample

    Europe Automotive Chromium Finishing Market size surpassed USD 1,047.5 million in 2020 and is estimated to observe a growth rate of 2.9% between 2021 and 2027. Industry growth is driven by the superior and aesthetic properties of chromium plating.

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    The Europe automotive chromium finishing industry growth is owing to the rising sales of luxury vehicles across the region. The rising application of chrome plating for superior aesthetic appeal for luxury vehicles is propelling product consumption. Premium automobile manufacturers have been reporting a considerable rise in the sales of luxury cars over the previous years. This can be ascribed to the growing number of high- and ultra-high-net-worth individuals around the European region.

    Another major factor contributing to the industry growth is the rising sales of passenger vehicles. The number of new passenger vehicle registration reached a total of 15.8 million in 2019 which was around a 1% rise from the year before. Relatively, the market showed better performance in sales in Germany and France, reflecting a growth of 5% and 2% respectively. Therefore, owing to a large fleet of passenger vehicles, the segment also dominated a major market share of more than 90% in 2020. Additionally, the demand for chromium plating is also accelerating due to the higher adoption rate of electric vehicles. Electric car production in Europe is expected to reach million in 2025 from around 750 thousand in 2019. These figures are likely to increase at a rapid rate due to environmental concerns and carbon emissions.

    However, the automotive chromium finishing market observed a decline in revenue generation in 2019 and 2020. The key factors that led to a drop in sales included a decline in the adoption of passenger vehicles in a few countries and the outbreak of the coronavirus pandemic. To contain the spread of the contagious virus, several governments imposed nationwide lockdowns, which resulted in the restricted supply chain and ceased manufacturing operations. As a result, the market witnessed a decline of over 12% in 2020. But, as the economy is set to recover from the crisis, the industry is expected to showcase steady growth in the next year.

    European Market, By Base Material

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    Based on the base material, the metal segment will acquire over 80% of the industry share by 2027. The robust growth of the segment is led by the rising preference for chrome plated parts by manufacturers of alloy wheels, fuel doors, grills, piston rods, and others. The plated vehicle parts achieve an improved resistance towards external damaging factors, such as rust and scratches. Moreover, the rising sales of premium vehicles along with the shifting preference of consumers towards decorative exteriors and interiors are further fueling the consumption of automotive chromium finishing and significantly contributing to the growing industry size.

    European Market, By End-user

    The automotive aftermarket segment is anticipated to expand at a CAGR of 3.1% from 2021 to 2027. The rising number of repair & maintenance centers coupled with the growing usage of chrome finishing by automotive manufacturers such as Ford, BMW, Daimler, and Bentley, among others are substantially contributing to the revenue generation. Also, the shifting preference of manufacturers towards the production of electric vehicles will further create lucrative opportunities for the industry participants.

    European Market, By Country

    Germany is expected to dominate more than a 35% automotive chromium finishing market share in terms of revenue by 2027. The existence of a large number of auto manufacturers in the country is driving product consumption. The automobile manufacturers witnessed a rise in the sales of luxury vehicles in 2019. Companies, such as BMW, Porsche, and Mercedes Benz reported an increase of 2%, 10%, and 1.3% in sales of premium vehicles during 2018 and 2019. The improved look of premium vehicles is bringing out more buyers and hence is significantly boosting the demand for chrome plating.

    Additionally, the rising penetration of electric vehicles in Germany will propel the revenue share throughout the forecast period. Germany is a key producer of EVs and is expected to acquire the second position in terms of electric car production by 2025. The increasing investment by government bodies to mitigate carbon emissions will further drive the adoption of EVs in the region.

    Competitive Industry Landscape

    Some of the key manufacturers include Borough Ltd., Atotech Deutschland GmbH, Metzka GmbH, Andritz Group, Allenchrome Electroplating Ltd., Reeve Metal Finishing Company, Silchrome Plating Ltd., VERBRUGGE, Graindorge, Satis Group, IHI HAUZER B.V., GALVANICA ITALIA srl, C.F.G. Rettifiche Srl, and STELMI ITALIA SpA.

    Frequently Asked Question(FAQ) :

    What is the market for automotive chromium finishing worth in Europe?
    The market for automotive chromium finishing in Europe was pegged at more than USD 1,047.5 million in 2020 and will witness 2.9% CAGR over the forecast timeframe 2021-2027.
    How did metal components impact Europe automotive chromium finishing sector?
    The metal base material segment is anticipated to hold nearly 80% of the market share in Europe by 2027 with increased preference for chrome plated metal components.
    Why will the aftermarket segment foster automotive chromium finishing industry size in Europe?
    The Europe market for automotive chromium finishing from automotive aftermarket segment will register around 3.1% CAGR up to 2027 with high number of repair and maintenance outlets.
    What is the projected share of Germany automotive chromium finishing market by 2027?
    Germany is expected to hold over 35% of the Europe market by 2027 with the presence of key automakers and component manufacturers.

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