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

The North America electroplating market is expected to grow from US$ 10.32 billion in 2022 to US$ 13.43 billion by 2030. It is estimated to grow at a CAGR of 3.3% from 2022 to 2030.

Increasing Use of Electroplating on Plastics Fuels North America Electroplating Market

Increasing adoption of plating on plastics provides an effective solution in a wide range of applications, especially in the automotive and electronics industries. Furthermore, there is a high demand for plating on plastic in the automotive industry owing to its lightweight, cost-effectiveness, and corrosion resistance. Additionally, the utilization of plastics in the automotive industry is rising to offer lightweight solutions. With the increasing popularity of plastic composites, the requirement for plating plastics with metals is rising in the industry to enhance the appearance and quality of the material and provide electrical conductivity to a nonconductive plastic surface. There are two methods to plate plastic.

The first method is to roughen the surface to allow the metal to adhere. Then, electroplate over that layer to build up layers of metal. The process is called electroless, auto catalytic, or chemical plating. The second method is to apply conductive paint to the plastic and then electroplate it. Global market players such as DuPont are offering high-performing, environmental-friendly plating on plastic surfaces. DuPont’s decades of expertise in surface preparation and investment in novel technology enable the development of value-added products and processes for plating plastics.

North America Electroplating Market Overview

The North America region comprises developed economies such as the U.S. and Canada as well as Mexico as a developing nation. The companies are continuously enhancing their overall business processes to meet the customers' demands in the best possible way. Several domestic and international companies operating in the electroplating market have a strong foothold in the North American region. In this region, the United States is a major market for electroplating, followed by Canada, along with Mexico. The North America region largely supports the growth of the electroplating market through effective manufacture and trade policies.

Electroplating is basically a process of applying a metal coating on another piece of metal through an electro-deposition process. In the electroplating process, the deposited metal becomes part of the existing product with the plating/coating. In electroplating, both the anode and the cathode (the metal part to be coated) are mainly immersed in an electrolytic bath, which is composed of a solution of salts, including the metal to be plated. A direct current (DC) is passed through the solution, affecting the transfer of metal ions onto the cathodic surface, plating the metal onto the item.

Electroplating mainly comes with several material capabilities. The materials utilized in the plating (coating) process mainly depend on the composition of the plating bath as well as the deposition conditions. Here are the most utilized materials: Nickel, Chromium, Palladium or Palladium Nickel Alloy, Black nickel/chromium, Gold, Silver, Copper, Tin, Platinum, Ruthenium, Cadmium, Brass, and Zinc.

Electroplating is widely used in industries, including automotive, electrical & electronics, aerospace, and defense, medical, and others, also used in decorative arts to improve the surface qualities of objects - such as resistance to abrasion and corrosion, lubricity, reflectivity, electrical conductivity, or appearance. The growth of the above-mentioned industries in this region and the extensive use of electroplating in various products are influencing the market growth. A good example to show the purpose of electroplating is an application in the medical devices industry. A lot of components for medical devices are created with nickel. Nickel, however, is not supposed to come into direct contact with the human body.

So, to prevent that contact from occurring, a coating of palladium or gold is applied to the nickel surface. Plating and metal finishing for cars and motorcycles is not limited to electroplating. A process known as electroless plating, which involves the deposition of metal onto a substrate without the introduction of an electric current, is widely used in many automotive manufacturing applications. Zinc plating has played a significant role, mainly in the automotive industry for many years.

Specifically, zinc and zinc-nickel alloys are often plated onto parts, including braking system and transmission components, chassis hardware, and various engine parts to protect against corrosion. Plating and metal finishing for cars and motorcycles is not limited to electroplating. A process known as electroless plating, which involves the deposition of metal onto a substrate without the introduction of an electric current, is widely used in many automotive manufacturing applications.

North America Electroplating Market Segmentation

• The North America electroplating market is segmented into metal, type, end-use industry, and country .
• Based on metal, the North America electroplating market is segmented into gold, silver, copper, nickel, and others. The nickel segment held the largest share of the North America electroplating market in 2022.
• In terms of type, the North America electroplating market is categorized into barrel plating, rack plating, continuous plating, and line plating . The barrel plating segment held the largest share of the North America electroplating market in 2022.
• Based on end-use industry, the North America electroplating market is segmented into automotive, electrical & electronics, aerospace & defence, medical, and others. The electrical & electronics segment held the largest share of the North America electroplating market in 2022.
• Based on country, the North America electroplating market is segmented into the US, Canada, and Mexico. The US dominated the North America electroplating market in 2022.
• Atotech Deutschland GmbH & Co. KG; Jing Mei Industrial Ltd; Klein Plating Works, Inc.; Precision Plating Co; Sharretts Plating Co Inc; Summit Corp of America; and Cherng Yi Hsing Plastic Plating Factory Co., Ltd. are some of the leading companies operating in the North America electroplating market.

Market Highlights

• Based on metal, the North America electroplating market is segmented into gold, silver, copper, nickel, and others. The nickel segment held 32.9% share of North America electroplating market in 2022, amassing US$ 3.39 billion. It is projected to garner US$ 4.47 billion by 2030 to expand at 3.5% CAGR during 2022-2030.
• In terms of type, the North America electroplating market is categorized into barrel plating, rack plating, continuous plating, and line plating. The barrel plating segment held 34.5% share of North America electroplating market in 2022, amassing US$ 3.56 billion. It is projected to garner US$ 4.82 billion by 2030 to expand at 3.8% CAGR during 2022-2030.
• The electrical and electronics segment held 32.2% share of North America electroplating market in 2022, amassing US$ 3.32 billion. It is projected to garner US$ 4.56 billion by 2030 to expand at 4.0% CAGR during 2022-2030.
• This analysis states that the US captured 76.4% share of North America electroplating market in 2022. It was assessed at US$ 7.88 billion in 2022 and is likely to hit US$ 10.35 billion by 2030, exhibiting a CAGR of 3.5% during 2022-2030.
• In March 2018, Summit acquired torpedo Specialty Wire. The assets and the processes obtained through torpedo Wire have helped the company grow capabilities while maintaining an inspiring environment that yields positive outcomes for its valued clients and staff alike. The company believes this acquisition will translate into even greater service value. It will continue its goal of being a world-leading supplier for Wire Electroplating, Continuous Plating, Individual Parts Plating, and more.

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