Asia Pacific Electroplating Market Forecast to 2030 - Regional Analysis by Metal, Type, and End-Use Industry

The Asia Pacific electroplating market is expected to grow from US$ 44.37 billion in 2022 to US$ 62.42 billion by 2030. It is estimated to grow at a CAGR of 4.4% from 2022 to 2030.

Ongoing Industrialization Fuel Asia Pacific Electroplating Market

Rising industrialization across the globe, along with the increasing disposable income of consumers in developed countries, fuels the demand for electroplating across the electronics, automotive, and jewelry industries. Rising demand for high-performance automobile components with excellent corrosion resistance to enhance the appearance of exterior automobile parts, including hood ornaments, emblems, door handles, and wheel rims, propels the requirement for electroplating solutions owing to the increasing production of automobiles. Opportunities remain promising for service providers in several countries owing to the remarkable growth in the electronics and automotive industries.

The zinc-nickel electroplating is considered one of the popular electroplating methods in the automotive industry. The significant growth of the electronics industry across the world, coupled with high demand for electroplating in the manufacturing of various electronic components such as electric transistors, electronic power switches, conductors and semiconductors, connectors, and computer components, is another prominent factor propelling the market growth.

Asia Pacific Electroplating Market Overview

The electroplating market in APAC comprises several developing economies such as China, India, Japan, South Korea, and Australia. These emerging countries are witnessing an upsurge due to growth in urbanization, increasing manufacturing industries coupled with growing industrialization, and the impact of social media, which offers ample opportunities for key market players in the electroplating market. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large metallurgy industries. Global players, such as Cherng Yi Hsing Plastic Plating Factory Co., Ltd., toho Zinc Co., Ltd., Jing Mei Industrial Limited, and others, are marketing their electroplating in these countries.

The APAC region encompasses an ample number of opportunities for the growth of electroplating. This region has been noticed as one of the prominent markets for the utilization of electroplating. Asia has ranked highest amongst chemicals producing regions. China is mainly dominating the regional market, followed by other countries such as Japan, Taiwan, Vietnam, Korea, Thailand, Malaysia, and Indonesia. These countries are experiencing rising demand for semiconductors & ICs, LCDs, printed circuit boards, and others. Apart from the electroplating application in the semiconductors industry, electroplating is extensively utilized in wearable devices, smartphones, and other electronic devices.

The demand for smartphones and wearable devices, has been increased subsequently with the growth of the electronics industry, coupled with a shift in consumer living standards. This shift has further propelled the growth of the electroplating market in the region. Over the past few years, the manufacturing spending towards the developments of chemicals and electronic industry has grown significantly and is further anticipated to grow at a high rate.

Rising foreign direct investments also lead to economic growth in this region. Increasing expenditure towards research and development activities to diversify the application base of electroplating has also led to market growth. Also, the wide use of various types of electroplating in medical instruments, aircraft manufacturing, and automobile parts is contributing to the market growth in this region.

Asia Pacific Electroplating Market Segmentation

• The Asia Pacific electroplating market is segmented into metal, type, end-use industry, and country.
• Based on metal, the Asia Pacific electroplating market is segmented into gold, silver, copper, nickel, and others. The nickel segment held the largest share of the Asia Pacific electroplating market in 2022.
• In terms of type, the Asia Pacific electroplating market is categorized into barrel plating, rack plating, continuous plating, and line plating. The barrel plating segment held the largest share of the Asia Pacific electroplating market in 2022.
• Based on end-use industry, the Asia Pacific electroplating market is segmented into automotive, electrical & electronics, aerospace & defence, medical, and others. The electrical & electronics segment held the largest share of the Asia Pacific electroplating market in 2022.
• Based on country, the Asia Pacific electroplating market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific electroplating market in 2022.
• Atotech Deutschland GmbH & Co KG, Dr Ing Max Schlotter GmbH & Co KG, Jing Mei Industrial Ltd, Toho Zinc Co Ltd, and Cherng Yi Hsing Plastic Plating Factory Co Ltd are some of the leading companies operating in the Asia Pacific electroplating market

Market Highlights

• Based on metal, the Asia Pacific electroplating market is segmented into gold, silver, copper, nickel, and others. The nickel segment held 29.3% share of Asia Pacific electroplating market in 2022, amassing US$ 13.02 billion. It is projected to garner US$ 18.51 billion by 2030 to expand at 4.5% CAGR during 2022-2030.
• In terms of type, the Asia Pacific electroplating market is categorized into barrel plating, rack plating, continuous plating, and line plating. The barrel plating segment held 34.5% share of Asia Pacific electroplating market in 2022, amassing US$ 15.32 billion. It is projected to garner US$ 22.41 billion by 2030 to expand at 4.9% CAGR during 2022-2030.
• The electrical and electronics segment held 32.2% share of Asia Pacific electroplating market in 2022, amassing US$ 14.30 billion. It is projected to garner US$ 21.15 billion by 2030 to expand at 5.0% CAGR during 2022-2030.
• This analysis states that China captured 44.0% share of Asia Pacific electroplating market in 2022. It was assessed at US$ 19.51 billion in 2022 and is likely to hit US$ 28.60 billion by 2030, exhibiting a CAGR of 4.9% during 2022-2030.
• In November 2023, Grand Venture Technology plans to acquire surface treatment specialist, ACP Metal Finishing, for US $17 million.

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