Overview and Scope
Electroplating refers to a process used to coat a conductive surface with a thin layer of metal through the application of an electric current. It is commonly employed to enhance the appearance, corrosion resistance, or conductivity of the substrate material.
Sizing and Forecast
The electroplating market size has grown steadily in recent years. It will grow from $14.06 billion in 2023 to $14.70 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to adoption of electroplating for improving surface finish, shift towards automation and digitization, adoption of electroplating for decorative applications, outsourcing electroplating services to specialized firms.
The electroplating market size is expected to see steady growth in the next few years. It will grow to $16.89 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to emerging applications of electroplating in renewable energy systems, demand for wear-resistant coatings in machinery, adoption of electroplating for corrosion protection, usage of electroplated components in the jewelry industry, use of eco-friendly electroplating techniques. Major trends in the forecast period include technological advances, plastic coatings, integration of automation and robotics, innovation in surface finishing techniques, focus on corrosion-resistant coatings.
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The electroplating market covered in this report is segmented –
1) By Type: Copper, Tin, Nickel, ZInc., Chromium, Gold, Silver, Platinum, Other Types
2) By Application: Corrosion Resistance, Wear Resistance, Appearance, Solderability, Other Applications
3) By End Use: Automotive, Electronics, Aerospace, Jewelry, Industrial Machinery, Other End Uses
Asia-Pacific was the largest region in the electroplating market in 2023. The regions covered in the electroplating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for consumer electronics products is expected to propel the growth of the electroplating market going forward. Consumer electronics refers to electronic devices intended for everyday use by individuals, encompassing products such as TVs, smartphones, and personal computers. Rising disposable incomes and a growing emphasis on connectivity and convenience drive the increasing demand for consumer electronics products. Consumer electronics utilize electroplating to enhance the durability and conductivity of components, such as connectors and circuitry, by depositing a thin layer of metal. For instance, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, total consumer electronics production in Japan reached $213.39 million (¥32,099 million) in May 2023, compared to $155.79 million (¥23,425 million) in January 2023. Therefore, the growing demand for consumer electronics products is driving the growth of the electroplating market.
Key Industry Players
Major companies operating in the electroplating market are Atotech Deutschland GmbH, Peninsula Metal Finishing Inc., Coventya Inc., Pioneer Metal Finishing LLC, Allied Finishing Inc., Erie Plating Company, Heimerle + Meule GmbH, Roy Metal Finishing, Metalor Technologies International SA, SIFCO Applied Surface Concepts, Epner Technology Inc., J & N Metal Products LLC, Columbia Chemical, Bronson Plating Company, Tawas Plating Company, Sharrets Plating Co Inc., Klein Plating Works Inc., ENS Technology Ltd., Gold Touch Inc., Precision Plating Company Inc., MacDermid Enthone Industrial Solutions (Element Solutions Inc), ECO Finishing Company, Electro-Spec Inc., Bajaj Electroplaters Pvt. Ltd., Kuntz Electroplating Inc.
The electroplating market report table of contents includes:
1. Executive Summary
2. Electroplating Characteristics
3. Electroplating Trends And Strategies
4. Electroplating – Macro Economic Scenario
5. Global Electroplating Size and Growth
…..
32. Global Electroplating Competitive Benchmarking
33. Global Electroplating Competitive Dashboard
34. Key Mergers And Acquisitions In The Electroplating
35. Electroplating Future Outlook and Potential Analysis
36. Appendix
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