The electroplating market is estimated to witness a CAGR of 2.91% over the forecast period to reach US$15.513 billion in 2025, increasing from US$13.052 billion in 2019. Electroplating, which is also known as electrodeposition is a process in which depositing of material is done on a workpiece using an electric current. It is a process by which a thin layer of metal is deposited on a workpiece known as the substrate. The primary use of electroplating is to change the physical properties of an object.
The change in the physical properties is done with an aim to give aesthetic appeal, increase wear resistance, to increase the thickness and to give corrosion protection to the object. The growth of the market may be attributed to the burgeoning demand for metal finished consumer goods. Other factors significantly contributing to spurring the market growth include the rising adoption of electroplating across various industry verticals such as the automotive industry and aerospace and defense among others. However, the growth of the market may be restrained due to the formulation of government regulations regarding the emission of harmful gases and chemicals during the process.
Corrosion Protection to hold notable market share
Electroplating is considered one of the most common methods used for corrosion protection, on bridges, vehicles and appliances among others, as the metal coating acts as a sacrificial barrier that helps prevent the corrosion on the underlying substrate. The growing adoption of electroplating in the automotive industry by the manufacturers for coating the body of the vehicle with rust-proof and non-corrosive materials coupled with a significant surge in the automotive industry at the global level is also anticipated to bolster the market growth opportunities during the coming years.
For instance, automotive production across the globe reached 95,634,593 units per year in 2018, from 77,583,519 units in 2010 (Source: International Organization of Motor Vehicle Manufacturers). Furthermore, the electroplating market for decorative applications is also projected to hold a significant market share on account of the growing demand for metal finished products and decorative products due to the rising disposable income, growing middle-class population and changing lifestyle of the people.
Electrical and Electronics industry projected to hold a noteworthy share
The electrical and electronics industry is expected to hold a decent share in the global market as electroplating is considered as one of the most important process for the manufacturing of electronic components so as to enhance electrical conductivity, improve corrosion resistance and increasing the solderability of the component. Thus, the growing electronics industry in the major emerging economies such as India, China and Brazil is anticipated to boost production, and thereby drive the market growth throughout the forecast period.
Asia Pacific is expected to rule the market
The Asia Pacific region is projected to hold a major share in the market account of the high production of consumer electronics, coupled with rapid industrialization in major developing economies and the presence of a significantly large manufacturing industry in major countries such as China and India among others. Furthermore, large automobile manufacturing base in countries like China, India, and Japan is also contributing to the significant demand for electroplating in this region. Rising investments in terms of expansion of production will further contribute to the growth of the market in the Asia Pacific region throughout the forecast period. North America and the European region are also projected to have a noteworthy share in the market owing to the well-established infrastructure and the presence of major luxury automotive manufacturers such as Mercedes, BMW and Volkswagen.
Major players in the electroplating market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section in the report details the business overview, financial performance for the past years, key products and services being offered along with the recent developments of these important players in the electroplating market.
Segmentation
The electroplating market can be segmented on the basis of type of metal, type of plating, application, industry vertical and geography.
By Type of Metal
By Type of Plating:
By Application:
By Industry Vertical :
By Geography:
North America
Europe
Asia Pacific
The change in the physical properties is done with an aim to give aesthetic appeal, increase wear resistance, to increase the thickness and to give corrosion protection to the object. The growth of the market may be attributed to the burgeoning demand for metal finished consumer goods. Other factors significantly contributing to spurring the market growth include the rising adoption of electroplating across various industry verticals such as the automotive industry and aerospace and defense among others. However, the growth of the market may be restrained due to the formulation of government regulations regarding the emission of harmful gases and chemicals during the process.
Corrosion Protection to hold notable market share
Electroplating is considered one of the most common methods used for corrosion protection, on bridges, vehicles and appliances among others, as the metal coating acts as a sacrificial barrier that helps prevent the corrosion on the underlying substrate. The growing adoption of electroplating in the automotive industry by the manufacturers for coating the body of the vehicle with rust-proof and non-corrosive materials coupled with a significant surge in the automotive industry at the global level is also anticipated to bolster the market growth opportunities during the coming years.
For instance, automotive production across the globe reached 95,634,593 units per year in 2018, from 77,583,519 units in 2010 (Source: International Organization of Motor Vehicle Manufacturers). Furthermore, the electroplating market for decorative applications is also projected to hold a significant market share on account of the growing demand for metal finished products and decorative products due to the rising disposable income, growing middle-class population and changing lifestyle of the people.
Electrical and Electronics industry projected to hold a noteworthy share
The electrical and electronics industry is expected to hold a decent share in the global market as electroplating is considered as one of the most important process for the manufacturing of electronic components so as to enhance electrical conductivity, improve corrosion resistance and increasing the solderability of the component. Thus, the growing electronics industry in the major emerging economies such as India, China and Brazil is anticipated to boost production, and thereby drive the market growth throughout the forecast period.
Asia Pacific is expected to rule the market
The Asia Pacific region is projected to hold a major share in the market account of the high production of consumer electronics, coupled with rapid industrialization in major developing economies and the presence of a significantly large manufacturing industry in major countries such as China and India among others. Furthermore, large automobile manufacturing base in countries like China, India, and Japan is also contributing to the significant demand for electroplating in this region. Rising investments in terms of expansion of production will further contribute to the growth of the market in the Asia Pacific region throughout the forecast period. North America and the European region are also projected to have a noteworthy share in the market owing to the well-established infrastructure and the presence of major luxury automotive manufacturers such as Mercedes, BMW and Volkswagen.
Major players in the electroplating market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section in the report details the business overview, financial performance for the past years, key products and services being offered along with the recent developments of these important players in the electroplating market.
Segmentation
The electroplating market can be segmented on the basis of type of metal, type of plating, application, industry vertical and geography.
By Type of Metal
- Gold
- Silver
- Platinum
- Rhodium
- Aluminum
- Chromium
- Nickel
- Copper
- Others
By Type of Plating:
- Mass Plating
- Rack Plating
- Continuous Plating
- Line Plating
By Application:
- Corrosion Protection
- Decoration
- Electrical and Electronics
- Others
By Industry Vertical :
- Automotive
- Electrical and Electronics
- Aerospace and Defense
- Others
By Geography:
North America
- US
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
Europe
- Germany
- France
- UK
- Spain
- Others
- Middle East & Africa
- Israel
- Saudi Arabia
- Others
Asia Pacific
- China
- Japan
- South Korea
- India
- Others
Table of Contents
1. Introduction
2. Research Methodology
4. Market Dynamics
5. Electroplating Market Forecast by Type of Metal
6. Electroplating Market Forecast by Type of Plating
7. Electroplating Market Forecast by Application
8. Electroplating Market Forecast by Industry Vertical
9. Electroplating Market Forecast by Geography
10. Competitive Intelligence
11. Company Profiles
Companies Mentioned
- Atotech Deutschland GmbH
- Allied Finishing Inc.
- Peninsula Metal Finishing Inc.
- Kuntz Electroplating Inc.
- Pioneer Metal Finishing
- Birmingham Plating Co Ltd.
- Metal Surfaces Inc
- Roy Metal Finishing, Inc.
Methodology
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