The only official option to relocate the cache and change its size are two command line switches that need to be added to the Chrome shortcut. Changing Chrome's Cache size and location And some users may want to move the cache location to the RAM instead, to speed up things, get the cache auto deleted on exit or avoid to many write cycles on the system partition.
Solid State Drives and system partitions with low storage space come to mind. There are several reasons why someone would want to change the location and size of the Chrome cache. You find the default Chrome cache location under C:\Users\username\AppData\Local\Google\Chrome\User Data\Default\Cache if you are running Windows 7. The cache is conveniently placed in the installation directory as well. Others may have a different opinion on it on the other hand, considering that Chrome always installs itself on the main system partition in Windows. Some users may say that this is not essential anymore, with growing hard drives and such. Did you know that there is no setting in the graphical user interface of the Google Chrome browser to change the location and size of the cache? I searched up and down and could not find an option to do that.