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The Electroplating Market size is estimated to grow by USD 6.3 billion at a CAGR of 6.78% from 2023 to 2028. 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 2018 to 2022.
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The market share growth by the barrel plating segment will be significant during the market forecast period. 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 barrel plating segment showed a gradual increase in the market share of USD 6.32 billion in 2018. 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. Hence, such factors are fuelling the growth of this segment during the forecast period.
APAC is estimated to contribute 36% to the growth of the global market during the market forecasting 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 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. Hence, such factors are driving the market in APAC during the forecast period.
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
Electroplating is a metal deposition process that uses an electric current to coat a work piece with a desired metal. The process, also known as electrodeposition, involves immersing the work piece in an electrolyte solution containing metal ions. An electric current is passed through the solution, causing the metal ions to deposit on the work piece as a thin layer. Commonly used metals for electroplating include silver, copper, and chromium. Electroplating is widely used in various industries such as electronics, airplanes, automobiles, and metal coating services. In the electronics industry, silver plating is used for electrical contacts, while copper plating is used for printed circuit boards. Chromium plating is used for decorative and protective purposes in the automobile industry. However, electroplating can be polluting due to the use of cyanide and heavy metals like lead in the electrolyte solution. Therefore, there is a growing emphasis on waste management techniques to minimize the environmental impact of electroplating. Hydrolysis and electron deposition are alternative electroplating processes that do not use cyanide. Galvanizing process, which uses zinc coating, is a popular alternative to electroplating for steel and iron substrates. The process, also known as galvanization, provides a protective layer against corrosion. Other metals used for metal coating services include aluminum, nickel, and gold. The global electroplating market is expected to grow due to increasing demand from consumer electronics and automotive industries.
Moreover, electroplating is a metal deposition process that uses an electric current to coat a work piece with a desired metal. The process involves immersing the substrate in an electrolyte solution containing metal ions. An electric current is passed through the solution, causing the metal ions to deposit on the substrate as a thin layer. Commonly used metals for electroplating include silver, copper, and chromium. Electroplating finds extensive applications in various industries such as electronics, airplanes, automobiles, and consumer electronics. In the electronics industry, silver plating is widely used for electrical contacts and connectors. Copper plating is used for decorative and functional purposes in automobiles and consumer electronics. Chromium plating is used for its corrosion resistance properties in automobiles and industrial equipment. However, electroplating can be polluting due to the use of cyanide and heavy metals like lead in some electrolytes. Therefore, there is a growing focus on waste management techniques such as hydrolysis and electron deposition to reduce the environmental impact. The galvanizing process, which uses zinc as the coating material, is an alternative to electroplating for steel and other metals. The global electroplating market is driven by the increasing demand for metal coating services in various industries. The market is expected to grow at a significant rate due to the rising demand for metal-coated products in consumer electronics, automobiles, and other industries. The market is segmented based on the type of metal, application, and region. Our researchers analyzed the data with 2023 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 market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Electroplating is a metal finishing process that involves the deposition of a thin layer of metal on a work piece through the use of electric current. The process, also known as electro deposition, is commonly used to add decorative or functional coatings to various substrates, including metals and plastics. The market for electroplating is diverse, with applications ranging from the jewelry industry for aesthetics to the automotive sector for functional purposes. Metals commonly used in electroplating include copper, nickel, silver, gold, and various forms of chromium plating such as hexavalent and trivalent. Polluting industries, such as those using cyanide, lead, and cadmium, have faced increasing scrutiny due to environmental concerns. As a result, there is a growing focus on waste management techniques and the development of alternative plating methods, such as electroless nickel plating and sulfamate nickel plating. The automotive sector and motor vehicles are significant consumers of electroplating, with applications including base metal plating for automotive products and galvanized steel for light vehicles. The electronics industry also relies heavily on electroplating for the production of electrical devices and electronic products. Other industries, such as aerospace and consumer electronics, also utilize electroplating for various applications. In summary, the electroplating market is a dynamic and diverse industry, with applications ranging from aesthetics in the jewelry industry to functional uses in the automotive and electronics sectors. The use of various metals, including copper, nickel, silver, gold, and chromium, continues to drive innovation and growth in the market. However, environmental concerns and the development of alternative plating methods are key challenges that the industry must address to ensure sustainable growth.
Industry Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 6300 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Germany, India, and Canada |
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, and Tanaka Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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