Electroplating Market is growing at a CAGR of around 4.1% by 2033: Zion Market Research
Zion Market Research has published a new report titled “Electroplating Market: by Metal Type (Gold, Nickel, Copper, Silver, Chromium, Zinc, and Others), by End-Use Industry (Automotive, Electrical & Electronics, Aerospace & Defense, Jewelry, Machinery Parts & Components, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast.
The electroplating market size is estimated to be valued at US$ 20 billion in 2023 and is expected to surpass US$ 30 billion by 2033. The adoption of electroplating is likely to advance at a CAGR of 4.1% during the forecast period.
Electroplating is the process of applying a metallic coating to an article by passing an electric current through an electrolyte in contact with the article, thereby forming a surface having properties or dimensions different from those of the article. Essentially any electrically conductive surface can be electroplated. Special techniques, such as coating with metallic-loaded paints or silver-reduced spray, can be used to make nonconductive surfaces, such as plastic, electrically conductive for electroplating. The metals and alloy substrates electroplated on a commercial scale are cadmium, chromium, cobalt, copper, gold, indium, iron, lead, nickel, platinum group metals, silver, tin, zinc, brass, bronze, many gold alloys, lead-tin, nickel-iron, nickel-cobalt, nickel-phosphorus, tin-nickel, tin zinc, zinc-nickel, zinc-cobalt, and zinc-iron. Electroplated materials are generally used for a specific property or function, although there may be some overlap, e.g., a material may be electroplated for decorative use as well as for corrosion resistance.
Based on metal type, the electroplating market has been divided into gold, nickel, copper, silver, chromium, zinc, and others. The gold segment is anticipated to gain market share over the forecast period. The application of gold-electroplating finishing is used in various field for many decades. Gold-electroplating finishing is used in decorative as well as mechanical and electronic fields since long. Gold has found no substituents in specific applications especially where there is a need of corrosion protection. Gold has no alternatives then platinum, ruthenium, iridium or palladium are only available choice since last long years gold has been deposited electrochemically on various substrates for decorating finishing or other requirements. The gold film remains unchanged where electrical contacts and electronic circuits are partially plated with gold metal through the electroplating method. Electrodeposited gold surfaces satisfy many demands of this new technology and the use of gold films has in general grown with the growing electronics industry.
In terms of end-use industry, the electroplating market is segmented into automotive, electrical & electronics, aerospace & defense, jewelry, machinery parts & components, and others. The automotive segment is anticipated to gain traction over the forecast period. Automotive gold plating will enhance the appearance of exterior parts, such as emblems, hood ornaments, door handles and wheel rims and is offered by some car dealers as an aftermarket service for car owners who wish to enhance the style of their vehicles. Gold plating will also make these exterior parts much more resistant to corrosion and wear. Metal plating entails the deposition of metal ions onto the surface of a metal part, which is known as the substrate. These metal ions are one component used to produce an electrolyte solution, commonly referred to as a plating bath. A DC electrical current is used to initiate a reaction that causes the deposition of the metal ions found in the plating bath onto the surface of the substrate, forming a thin, protective metal coating.
Some key players in operating in the electroplating market are -
- Superchem Finishers
- Metalor Technologies International SA
- Heimerle+meule GmbH
- Sharrets Plating Co.
- Peninsula Metal Finishing
- J&N Metal Products LLC
- Bajaj Electroplaters
- Roy Metal Finishing
- Pioneer Metal Finishing
- Kuntz Electroplating
- Interplex Holdings
- Pte. Ltd.
- Atotech Deutschland GmbH
- Allied Finishing
This report segments the global electroplating market as follows:
Global Electroplating Market: Metal Type Segment Analysis
- Gold
- Nickel
- Copper
- Silver
- Chromium
- Zinc
- Others
Global Electroplating Market: End-Use Industry Segment Analysis
- Automotive
- Electrical & Electronics
- Aerospace & Defense
- Jewelry
- Machinery Parts & Components
- Others
Global Electroplating Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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