Electroplating Global Market Report 2024

The electroplating market size has grown steadily in recent years. It will grow from $14.06 billion in 2023 to $14.7 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth observed in the historic period can be attributed to several factors, including the adoption of electroplating techniques for enhancing surface finish, a shift towards automation and digitization in manufacturing processes, increased utilization of electroplating for decorative applications, and the outsourcing of electroplating services to specialized firms. These factors collectively contributed to the expansion and development of the electroplating industry during this period.

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 anticipated growth in the forecast period is expected to be driven by emerging applications of electroplating in renewable energy systems, the increasing demand for wear-resistant coatings in machinery, adoption of electroplating for corrosion protection, utilization of electroplated components in the jewelry industry, and the adoption of eco-friendly electroplating techniques. Major trends projected for the forecast period include technological advances, the use of plastic coatings, integration of automation and robotics in electroplating processes, innovation in surface finishing techniques, and a heightened focus on corrosion-resistant coatings. These trends collectively indicate significant growth opportunities and advancements in the electroplating industry in the coming years.

The surge in demand for consumer electronics products is expected to be a driving force behind the growth of the electroplating market. Consumer electronics, including TVs, smartphones, and personal computers, are witnessing increased popularity driven by rising disposable incomes and a growing emphasis on connectivity and convenience. Electroplating plays a crucial role in enhancing the durability and conductivity of components within these devices, such as connectors and circuitry, by depositing a thin layer of metal. For instance, data from the Japan Electronics and Information Technology Industries Association revealed significant growth in total consumer electronics production in Japan, indicating a positive trend in the demand for electroplating services.

In response to this growing demand, major companies in the electroplating market are focusing on technological advancements to improve efficiency and reduce environmental impact. One such innovation is dripless technology, which minimizes chemical waste, enhances precision, and improves resource efficiency by preventing excess solution dripping during the coating process. For example, SIFCO ASC introduced the Advanced Solution Control System (ASCS) in June 2022, featuring portable all-in-one plating equipment with dripless technology. This system enhances workplace safety by recycling all chemical solutions and creating a cleaner working environment while also improving productivity and reducing ergonomic risks for operators. Automation is also employed to optimize cycle times, increase repeatability, and minimize human errors.

In October 2021, Valence Surface Technologies LLC expanded its presence in the electroplating market through the acquisition of H&W Global Industries, Inc. This strategic move allows Valence to further its customer-centric approach and enhance aerospace and defense supply chains. H&W Global Industries Inc. brings expertise in high-quality metal finishing, electroplating, and industrial coating services, complementing Valence's portfolio and strengthening its position in the industry.

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.

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. The countries covered in the electroplating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electroplating is a process utilized to coat a conductive surface with a thin layer of metal by applying an electric current. This technique is frequently employed to improve the appearance, corrosion resistance, or conductivity of the substrate material.

The primary types of electroplating include copper, tin, nickel, zinc, chromium, gold, silver, platinum, and others. Copper electroplating involves depositing a layer of copper onto a conductive surface using an electric current. This process enhances conductivity, prevents corrosion, and provides a decorative finish, commonly utilized in industries such as electronics and jewelry manufacturing. Applications of copper electroplating include corrosion resistance, wear resistance, improving appearance, solderability, and others, serving end-uses including automotive, electronics, aerospace, jewelry, industrial machinery, and more.

The electroplating research report is one of a series of new reports that provides electroplating market statistics, including the electroplating industry's global market size, regional shares, competitors with an electroplating market share, detailed electroplating market segments, market trends and opportunities, and any further data you may need to thrive in the electroplating industry. This electroplating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electroplating market consists of sales of metal finishing chemicals, plating additives and brighteners, and plating metals and alloys. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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