The global electroplating market size was worth around USD 20.03 billion in 2023 and is predicted to grow to around USD 28.40 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.08% between 2024 and 2032.
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Market for Electroplating: Summary
Electroplating is the technique whereby a thin layer of metal is deposited on the surface of a workpiece by an electric current. Common applications of this method are to increase corrosion resistance, enhance appearance, lower friction, increase wear resistance, or restore dimensions to undersized components. The metal to be deposited is the anode; the workpiece to be plated serves as the cathode. Both are sunk in an electrolytic solution with metal ions. Metal ions migrate from the anode to the cathode when an electric current flows through the solution, producing a homogeneous metal covering on the workpiece.
Over the next projected period, the worldwide electroplating market is expected to show a rather significant increase rate. Usually done for cosmetic reasons or to stop metal corrosion, electroplating Hydrolysis is the method used in plating one metal plate onto another. Among the several particular forms of electroplating are chromium, copper, and silver plating. Applications for electroplating abound in the electrical and electronics, mechanical, automotive, aerospace and defence sectors. The electroplating market is likely to expand under strong demand from the electrical and electronics sector, particularly in manufacturing of components in televisions, refrigerators, and air conditioners.
But governments all over are enforcing some rules on the electroplating process because of the emission of poisonous chemicals and gases that find their way into the atmosphere. Over the next years, this element is probably going to impede the market development.
Market for Electroplating: Factors of Growth
Rising demand from end-use sectors including automotive, electronics, aerospace, and jewellery makes growth considerations for the electroplating industry relevant. Electroplating is applied for ornamental and protective coatings on components and parts in the automobile sector. For circuit boards and connectors, the electronics industry uses electroplating—where it increases conductivity and corrosion resistance.
Market expansion is being facilitated by technological developments including the creation of ecologically friendly plating techniques and better plating materials. Furthermore affecting the acceptance of more environmentally friendly electroplating techniques are the growing attention on sustainability and rules aiming at lowering harmful elements in manufacturing processes. Furthermore driving the demand for sophisticated electroplating processes to reach certain performance characteristics and aesthetic attributes is the ongoing innovation in material science and product design.
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The Global Electroplating Market is segmented based on product, application and region
Global Electroplating Market: Product Segment Analysis
● Gold
● Nickel
● Copper
● Silver
● Chromium
● Zinc
● Others
Global Electroplating Market: Application Segment Analysis
● Automotive
● Electrical & Electronics
● Aerospace & Defense
● Jewelry
● Machinery Parts & Components
● Others
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The Global Electroplating market profiles key players such as:
● Superchem Finishers
● Metalor Technologies International SA
● Heimerle+meule GmbH
● Sharrets Plating Co. Inc.
● Peninsula Metal Finishing Inc.
● J&N Metal Products LLC
● Bajaj Electroplaters
● Roy Metal Finishing Inc.
● Pioneer Metal Finishing
● Kuntz Electroplating Inc.
● Interplex Holdings
● Pte. Ltd.
● Atotech Deutschland GmbH
● Allied Finishing Inc
Regional Analysis of the Electroplating Market
The worldwide electroplating market has been split according to region: Europe, North America, Asia-Pacific, Latin America, Middle East & Africa. With the biggest market share in 2018, Asia-Pacific is predicted to demonstrate amazing increase over the next years. Rising production facilities of several industrial sectors, particularly in the electronics and semiconductor industries along with fast urbanisation, are likely to drive significantly higher demand for the market in the region over the next years.
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