Trivalent Chromium Finishing Market Size and Trends
The Trivalent Chromium Finishing Market size is valued at US$ 331.3 Million in 2024 and is expected to reach US$ 444 Million by 2031, growing at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.
Trivalent Chromium Finishing Market Trends:
- Introduction of water-based trivalent chromium plating solutions: The trivalent chromium finishing market is witnessing a shift towards more environment friendly and sustainable water-based plating solutions. Traditional trivalent chromium plating processes have used toxic solvents, such as Stoddard solvent, that are harmful for both human health and the environment. However, newer water-based trivalent chromium plating solutions are now being widely adopted as they do not use any regulated toxic solvents. These solutions only use water as the base solvent, along with other non-hazardous chemicals. The transition towards water-based technologies is providing opportunities for trivalent chromium finishers to access more manufacturing sectors that have stringent environmental regulations. For instance, according to the U.S. Environmental Protection Agency, the use of water-based plating solutions released 89% less volatile organic compound emissions as compared to conventional solvent-based plating in 2020.
- Adoption of renewable energy sources in plating processes: The adoption of renewable energy sources in plating processes is having a significant influence on the trivalent chromium finishing market. With growing environmental awareness and stringent regulations around the world to reduce carbon emissions, many companies in industries that utilize electroplating, like automotive, aerospace, electronics, etc., are actively seeking more sustainable alternatives. Renewable energy systems allow electroplating facilities to transition away from fossil fuel based power sources. Solar, wind, and other renewable installations within factory premises help electroplaters curb their carbon footprint and energy costs in the long run. This makes processes that deploy trivalent chromium chemistry more viable for end users trying to lower their environmental impact. Several metal finishing vendors have started powering their trivalent chromium plating lines fully or partially through solar panels and wind turbines installed onsite. For example, as per Company Sustainability Report 2021, a leading American automotive component manufacturer implemented a 2MW solar carport system to supply about 30% of the electricity needed for their trivalent chromium plating division in Michigan.
Figure 1. Global Trivalent Chromium Finishing Market Share (%), by Region, 2024
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