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Trivalent Chromium Finishing Market Size
Trivalent Chromium Finishing Market size is set to register significant growth from 2024-2032 driven by the stringent environmental regulations and the rising restrictions on hexavalent chromium. The growing demand for corrosion-resistant coatings in the aerospace sector is contributing significantly to market expansion. With the automotive sector shifting towards environmentally friendly coating additives, trivalent chromium is gaining large prominence. Moreover, the ongoing advancements in coating technologies to enhance the performance and competitiveness of trivalent chromium finishes will also boost the market growth.
Trivalent Chromium Finishing Market Trends
The growing environmental concerns over hexavalent chrome finishes is one of the primary trends driving the industry development between 2024 and 2032. For many years, hexavalent chrome was widely used for the manufacturing of aluminum chromate conversion components. However, with the plating method producing harmful byproducts, such as barium sulfate and lead chromates, stringent regulations have been initiated by agencies, such as the EPA, due to its carcinogenic properties.
To that end, the rising number of lucrative opportunities for the trivalent chrome finishing market, driven by the strong focus on more sustainable and safer alternatives to hexavalent chrome will enhance the industry outlook. For instance, in August 2023, MacDermid Envio Solutions developed a new trivalent chromium wastewater treatment method, EnvioTRI, to ensure that applicators do not run into treatment difficulties while transitioning from hexavalent chrome to trivalent chrome chemistries.
Trivalent Chromium Finishing Market Analysis
The functional application segment is poised to record substantial revenue share of the trivalent chromium finishing industry by 2032, due to extensive usage in the renovation of worn-out components to enhance the lifespan of products. Trivalent chromium coatings are applicable in various applications like packaging steel substrates as they provide superior corrosion resistance in the event of exposure during can-making deformation processes. Moreover, the rise in industries seeking reliable and environmentally friendly surface finishes, especially in critical functional applications, will further drive the product demand.
Regionally, the North America trivalent chromium finishing market is expected to generate substantial revenue by the end of 2032, driven by the rising concerns regarding the usage of hexavalent chrome. Governments in countries like the U.S. are placing targeted efforts to curb the use of hexavalent chrome coating, further contributing to the greater demand for trivalent chromium coating solutions in the region. For instance, in May 2023, California became the first state to phase out hazardous hexavalent chromium. The ongoing R&D activities coupled with the heightened awareness of health and safety concerns will also drive the adoption of trivalent chromium finishes across diverse industries in the region.
Trivalent Chromium Finishing Market Share
Leading companies operating in the trivalent chromium finishing industry are involved in various strategies like product launches to boost their portfolio and presence across the global business landscape. To illustrate, Ronatec C2C, renowned for its expertise in environmentally friendly coating solutions, is contributing significantly to the market growth. The company's commitment to innovations and sustainability is positioning it as a leading provider of trivalent chromium finishes for meeting the industry demands for safer and more efficient coating alternatives.
Major players operating in the trivalent chromium finishing industry include-
- MacDermid Inc.
- Ronatec C2C
- Atotech Deutschland
- Chem Processing Incorporated
- Kakihara Industries Co.Limited
- Sarrel Group
- Columbia Chemical
Trivalent Chromium Finishing Industry News
- In December 2023, Chemeon introduced a novel wipe-on solution developed in collaboration with a Navy laboratory to better replicate the use conditions for service assets and ground vehicles. The new product makes use of modern high-performance trivalent chromium conversion coatings, including Chemeon's proprietary eTCP.