The global electroplating market was valued at $18.3 billion in 2022 and is projected to reach $27.2 billion by 2032, growing at a CAGR of 4% from 2023 to 2032.
Electroplating is a surface coating process in which a thin layer of metal is deposited onto the surface of a conductive object using an electric current. The primary purpose of electroplating is to enhance the appearance, corrosion resistance, and durability of the object. It is widely utilized across various industries, including automotive, aerospace, electronics, jewelry, and manufacturing, to improve the aesthetic and functional properties of components and products.
The automotive industry is one of the greatest consumers of electroplating processes that convert zinc to gold. Modern automobiles also use plastic electroplating to chrome-plate lightweight components. Palladium plating is utilized in the production of catalytic converters due to the metal's capacity to absorb excess hydrogen. In the automotive industry, manufacturers are constantly searching for ways to protect their products from corrosion. In addition to the rapid expansion of the automotive industry, the galvanizing process is extensively applied to a variety of automotive components. Several automakers are investing in electroplating units with corrosion- and rust-resistant material layers for vehicle bodies. Moreover, a number of businesses offer advanced electroplating techniques. Techmetals provides solutions such as Electroless Nickel (EN), which can optimize corrosion and wear resistance and pass over 1,000 hours of saline spray testing, as well as anodizing for components such as brake calipers and body frames.
Electroplating techniques face significant environmental concerns that are hampering the electroplating market. One major issue is the generation of hazardous waste, including heavy metal-containing wastewater and toxic chemicals. Improper disposal of these pollutants can lead to water contamination and harm aquatic ecosystems. Additionally, the energy-intensive nature of electroplating processes contributes to greenhouse gas emissions, impacting climate change. Even though the electroplating market is expanding at a rapid rate, environmental concerns associated with this technique are impeding the market's growth over the forecast period. Electroplating processes, which may include the use of heavy metals and cyanide, can result in the emission of toxic air pollutants. In addition, degreasing and cleaning solutions release harmful air pollutants and volatile organic compounds (VOC). Cyanide is a key ingredient in plating solutions, and it is toxic to the nervous system, heart, and airways. Several governments are implementing regulations on the electroplating industry to reduce the emission of harmful chemicals and gases released into the atmosphere during the electroplating process. This is anticipated to be a significant hurdle for the electroplating market.
Sustainable Electroplating Solutions present lucrative opportunities for the electroplating market, driven by the increasing demand for environmentally friendly and socially responsible practices. With growing concerns over the environmental impact of traditional electroplating processes that involve hazardous chemicals and waste generation, sustainable alternatives offer a competitive edge. These solutions typically employ eco-friendly materials, energy-efficient technologies, and closed-loop water management systems, reducing the overall carbon footprint and waste production. As governments and industries prioritize sustainable practices, electroplating companies adopting these solutions can gain a competitive advantage, attracting environmentally conscious customers and meeting stringent regulatory requirements. Additionally, sustainable electroplating can lead to cost savings in the long run through reduced resource consumption and waste disposal expenses. Embracing sustainable practices not only contributes to environmental conservation but also enhances the reputation and credibility of businesses in the electroplating industry, fostering growth and profitability in the evolving market.
The electroplating market is segmented into type, end-use, and region. Depending on the type, the market is divided into gold, silver, copper, platinum, palladium, rhodium, and others. On the basis of end-use, it is categorized into automotive, electrical and electronics, aerospace and defense, jewelry, machinery parts and components, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global electroplating market are Allied Finishing Inc., Cherng Yi Hsing Plastic Plating Factory Co. Ltd., Atotech, Sheen Electroplaters Pvt Ltd., Precision Plating Company., Summit Corporation of America, Klein Plating Works, Inc., Superchem Finishers, Sharretts Plating Company, Jing-Mei Industrial Limited.
Other players include Saporito Finishing Company, Pioneer Metal Finishing, Valence Surface Technologies, Reliable Plating Works, Inc., Roy Metal Finishing, Columbia Chemical Corporation, Bales Metal Surface Solutions, Cadillac Plating Corporation, and Artcraft Plating & Finishing.
Electroplating is a surface coating process in which a thin layer of metal is deposited onto the surface of a conductive object using an electric current. The primary purpose of electroplating is to enhance the appearance, corrosion resistance, and durability of the object. It is widely utilized across various industries, including automotive, aerospace, electronics, jewelry, and manufacturing, to improve the aesthetic and functional properties of components and products.
The automotive industry is one of the greatest consumers of electroplating processes that convert zinc to gold. Modern automobiles also use plastic electroplating to chrome-plate lightweight components. Palladium plating is utilized in the production of catalytic converters due to the metal's capacity to absorb excess hydrogen. In the automotive industry, manufacturers are constantly searching for ways to protect their products from corrosion. In addition to the rapid expansion of the automotive industry, the galvanizing process is extensively applied to a variety of automotive components. Several automakers are investing in electroplating units with corrosion- and rust-resistant material layers for vehicle bodies. Moreover, a number of businesses offer advanced electroplating techniques. Techmetals provides solutions such as Electroless Nickel (EN), which can optimize corrosion and wear resistance and pass over 1,000 hours of saline spray testing, as well as anodizing for components such as brake calipers and body frames.
Electroplating techniques face significant environmental concerns that are hampering the electroplating market. One major issue is the generation of hazardous waste, including heavy metal-containing wastewater and toxic chemicals. Improper disposal of these pollutants can lead to water contamination and harm aquatic ecosystems. Additionally, the energy-intensive nature of electroplating processes contributes to greenhouse gas emissions, impacting climate change. Even though the electroplating market is expanding at a rapid rate, environmental concerns associated with this technique are impeding the market's growth over the forecast period. Electroplating processes, which may include the use of heavy metals and cyanide, can result in the emission of toxic air pollutants. In addition, degreasing and cleaning solutions release harmful air pollutants and volatile organic compounds (VOC). Cyanide is a key ingredient in plating solutions, and it is toxic to the nervous system, heart, and airways. Several governments are implementing regulations on the electroplating industry to reduce the emission of harmful chemicals and gases released into the atmosphere during the electroplating process. This is anticipated to be a significant hurdle for the electroplating market.
Sustainable Electroplating Solutions present lucrative opportunities for the electroplating market, driven by the increasing demand for environmentally friendly and socially responsible practices. With growing concerns over the environmental impact of traditional electroplating processes that involve hazardous chemicals and waste generation, sustainable alternatives offer a competitive edge. These solutions typically employ eco-friendly materials, energy-efficient technologies, and closed-loop water management systems, reducing the overall carbon footprint and waste production. As governments and industries prioritize sustainable practices, electroplating companies adopting these solutions can gain a competitive advantage, attracting environmentally conscious customers and meeting stringent regulatory requirements. Additionally, sustainable electroplating can lead to cost savings in the long run through reduced resource consumption and waste disposal expenses. Embracing sustainable practices not only contributes to environmental conservation but also enhances the reputation and credibility of businesses in the electroplating industry, fostering growth and profitability in the evolving market.
The electroplating market is segmented into type, end-use, and region. Depending on the type, the market is divided into gold, silver, copper, platinum, palladium, rhodium, and others. On the basis of end-use, it is categorized into automotive, electrical and electronics, aerospace and defense, jewelry, machinery parts and components, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global electroplating market are Allied Finishing Inc., Cherng Yi Hsing Plastic Plating Factory Co. Ltd., Atotech, Sheen Electroplaters Pvt Ltd., Precision Plating Company., Summit Corporation of America, Klein Plating Works, Inc., Superchem Finishers, Sharretts Plating Company, Jing-Mei Industrial Limited.
Other players include Saporito Finishing Company, Pioneer Metal Finishing, Valence Surface Technologies, Reliable Plating Works, Inc., Roy Metal Finishing, Columbia Chemical Corporation, Bales Metal Surface Solutions, Cadillac Plating Corporation, and Artcraft Plating & Finishing.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electroplating market analysis from 2022 to 2032 to identify the prevailing electroplating market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electroplating market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electroplating market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Gold
- Silver
- Copper
- Platinum
- Palladium
- Rhodium
- Others
By End Use
- Automotive
- Electrical and Electronics
- Aerospace and Defense
- Jewelery
- Machinery Parts and Components
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Allied Finishing, Inc.
- Precision Plating Co.
- Atotech
- Superchem Finishers
- Sheen Electroplaters Pvt. Ltd.
- Summit Corporation of America
- Sharretts Plating Company
- Jing-Mei Industrial Limited
- Klein Plating Works, Inc
- Cherng Yi Hsing Plastic Plating Factory Co.Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ELECTROPLATING MARKET, BY TYPE
CHAPTER 5: ELECTROPLATING MARKET, BY END USE
CHAPTER 6: ELECTROPLATING MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the electroplating market was valued at $18.3 billion in 2022, and is estimated to reach $27.2 billion by 2032, growing at a CAGR of 4% from 2023 to 2032.Electroplating is a surface coating process in which a thin layer of metal is deposited onto the surface of a conductive object using an electric current. The primary purpose of electroplating is to enhance the appearance, corrosion resistance, and durability of the object. It is widely utilized across various industries, including automotive, aerospace, electronics, jewelry, and manufacturing, to improve the aesthetic and functional properties of components and products.
The electroplating process involves several essential components, including a plating bath or solution containing metal ions of the desired coating material, an anode (source of the metal ions), a cathode (the object to be plated), and an external power source. During the process, when an electric current is passed through the plating bath, metal ions from the anode are attracted to the cathode and get reduced to form a metallic coating on its surface. The thickness and quality of the plating depend on factors such as the duration of plating, current density, bath composition, and temperature.
The electroplating market is experiencing a surge in demand driven by the increasing popularity of electronic products. With the rapid advancement of technology and the widespread adoption of consumer electronics, there is a growing need for electroplating processes in the production of electronic components. The growth of the electroplating market is driven by the increasing prominence of electronic products, which is a result of ongoing product innovation, technology adoption, and demand for electrical devices. Electroplating is required for the uniform coating of metal surfaces in the production of electrical devices, components, and electronic products. The electrical and electronics industry employs both precious and non-precious plated components to improve the product's corrosion resistance, wear resistance, solderability, and electrical conductivity for various end-use applications. Moreover, numerous companies have made substantial investments in the production of electronic products. India plans to produce mobile phones worth a total of $24 billion by 2020 and $190 billion by 2025.
Electroplating techniques face significant environmental concerns that are hampering the electroplating market. One major issue is the generation of hazardous waste, including heavy metal-containing wastewater and toxic chemicals. Improper disposal of these pollutants can lead to water contamination and harm aquatic ecosystems. Additionally, the energy-intensive nature of electroplating processes contributes to greenhouse gas emissions, impacting climate change. Even though the electroplating market is expanding at a rapid rate, environmental concerns associated with this technique are impeding the market's growth over the forecast period. Electroplating processes, which may include the use of heavy metals and cyanide, can result in the emission of toxic air pollutants. In addition, degreasing and cleaning solutions release harmful air pollutants and volatile organic compounds (VOC). Cyanide is a key ingredient in plating solutions, and it is toxic to the nervous system, heart, and airways. Several governments are implementing regulations on the electroplating industry to reduce the emission of harmful chemicals and gases released into the atmosphere during the electroplating process. This is anticipated to be a significant hurdle for the electroplating market.
Sustainable Electroplating Solutions present lucrative opportunities for the electroplating market, driven by the increasing demand for environmentally friendly and socially responsible practices. With growing concerns over the environmental impact of traditional electroplating processes that involve hazardous chemicals and waste generation, sustainable alternatives offer a competitive edge. These solutions typically employ eco-friendly materials, energy-efficient technologies, and closed-loop water management systems, reducing the overall carbon footprint and waste production. As governments and industries prioritize sustainable practices, electroplating companies adopting these solutions can gain a competitive advantage, attracting environmentally conscious customers and meeting stringent regulatory requirements. Additionally, sustainable electroplating can lead to cost savings in the long run through reduced resource consumption and waste disposal expenses. Embracing sustainable practices not only contributes to environmental conservation but also enhances the reputation and credibility of businesses in the electroplating industry, fostering growth and profitability in the evolving market.
The electroplating market is segmented into type, end-use, and region. Depending on the type, the market is divided into gold, silver, copper, platinum, palladium, rhodium, and others. On the basis of end-use, it is categorized into automotive, electrical and electronics, aerospace and defense, jewelry, machinery parts and components, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global electroplating market are Allied Finishing Inc., Cherng Yi Hsing Plastic Plating Factory Co. Ltd., Atotech, Sheen Electroplaters Pvt Ltd., Precision Plating Company., Summit Corporation of America, Klein Plating Works, Inc., Superchem Finishers, Sharretts Plating Company, Jing-Mei Industrial Limited.
Key Findings of the Study
On the basis of type, the copper segment is expected to grow at a CAGR of 4.6%, in terms of revenue, during the forecast period.Depending on end-use, the electrical and electronics segment is expected to grow at a CAGR of 4.5%, in terms of revenue, during the forecast period.
Region-wise, North America garnered the highest share in 2022 in terms of revenue.
Companies Mentioned
- Allied Finishing, Inc.
- Precision Plating Co.
- Atotech
- Superchem Finishers
- Sheen Electroplaters Pvt. Ltd.
- Summit Corporation of America
- Sharretts Plating Company
- Jing-Mei Industrial Limited
- Klein Plating Works, Inc
- Cherng Yi Hsing Plastic Plating Factory Co.Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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