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The Electroplating Market size is estimated to grow by USD 6.13 billion at a CAGR of 7% from 2022 to 2027. The rising demand for electroplating applications in the automotive industry, driven by the need for corrosion protection, improved aesthetics, and enhanced durability of automotive parts, is boosting market growth. The economic growth in China and India, two major markets for electroplating, is also driving demand for electroplating services in various industries. Additionally, the rising demand for electroplating in industrial applications, such as electronics, aerospace, and hardware, is further fueling market expansion. Overall, these factors are creating new opportunities for growth in the market.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This report extensively covers market segmentation by Type (barrel plating, rack plating, continuous plating, and line plating), End-user (automotive, electrical and electronics, aerospace and defense, jewelry, and others), and Geography APAC, North America, Europe, South America, and the Middle East and Africa.
The market share growth by the barrel plating segment will be significant during the forecast period. The barrel plating segment showed a gradual increase in the market share of USD 6.04 billion in 2017. Electroplating in the form of barrel plating is frequently used to coat a large number of small metal items at once. The items are placed in a non-conductive barrel-shaped cage before being put into the chemical bath, where they undergo plating.
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The group of modules must make bipolar contact with one another in order for the barrel plating process to be successful; this ensures excellent plating efficiency. However, when precisely engineered or aesthetic finishes are desired, barrel plating is typically not advised because of the substantial amount of surface contact that the components have with one another. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment, along with their reasons for growth from 2017 to 2027.
APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The electroplating market in APAC is expected to grow exponentially during the forecast period due to the flourishing automotive and electronics industries, notably in countries such as China, India, Thailand, Malaysia, Indonesia, and Japan. The rise in volume sales of fuel-efficient vehicles, including SUVs in emerging economies due to improving standards of living and rising disposable incomes, is one of the primary factors that exhibit a high demand for automotive vehicles in APAC. In addition, the improving economic conditions and other socioeconomic factors, such as cheap labor and changing consumer preference for large and spacious vehicles, are other factors that also fuel the demand for automotive vehicles in APAC. Thus, companies in the automotive industry are establishing production and assembling facilities in APAC.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market is driven by the widespread adoption of electroplating and electrodeposition processes across various industries. These processes involve the deposition of a thin layer of metal onto a substrate using an electric current, enhancing the substrate's physical properties. Industries such as electronics, automotive, jewelry, aerospace, and defense extensively use electroplating for its benefits, such as corrosion resistance, electrical conductivity, heat resistance, and friction wear reduction. Various metals like zinc, nickel, gold, and palladium are used for electroplating, offering a wide range of applications from automotive exhaust systems to jewelry. However, there are growing environmental concerns regarding the use of certain chemicals in the electroplating process. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alberts - The company offers to electroplate for metals such as gold, copper, nickel, and nickel sulfamate.
Alliedfinishinginc- The company offers electroplating for metals such as zinc, aluminum, and steel. The company offers products to different types of industries such as automotive, smartphones, heavy machinery, and others.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the companies. The analysis classifies companies into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. companies are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business, which in turn can help a client make the best decision.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market plays a crucial role in various industries, including the aerospace & defense industry and the electrical & electronics industry, providing metal-plated components for electrical devices & components, machinery parts, and motor vehicles. It offers aesthetic appeal and wear resistance to products like bumpers, grills, and tire rims. However, the industry faces challenges related to air emissions and waste management due to the use of toxic materials such as cadmium and cyanide. To address these concerns, there is a shift towards environmentally friendly materials and cleaner operating atmospheres, including the adoption of water-based cleaning agents and trivalent chromium plating procedures. The market is also driven by factors such as rapid industrialization in developing countries and the longevity of electroplated products.
Project acquisition involves the procurement of ventures, while cadmium plating and chrome parts pertain to surface finishing techniques. In efforts to promote environmental sustainability, the adoption of clean and eco-friendly electroless nickel plating methods is gaining traction. Compliance with regulations ensures adherence to legal standards, while decorative electroplated nickel or chromium plating enhances aesthetic appeal. Disposal considerations address the responsible handling of waste materials, while dry processes aim to minimize environmental impact.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.97% |
Market growth 2023-2027 |
USD 6.13 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.89 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aalberts NV, Allied Finishing Inc., Bajaj Electroplaters, Birmingham Plating Co. Ltd., Dr.Ing. Max Schlotter GmbH and Co. KG, Interplex Holdings Pte. Ltd., J and N Metal Products LLC, Jing Mei Industrial Ltd., Klein Plating Works Inc., Kuntz Electroplating Inc., L. Possehl and Co. mbH, MKS Instruments Inc., Peninsula Metal Finishing Inc., Pioneer Metal Finishing LLC, Sharretts Plating Co. Inc., Sheen Electroplaters Pvt Ltd., Summit Plating, Tanaka Holdings Co. Ltd., and Toho Zinc Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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