Electroplating Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Electroplating Market grew at a CAGR of 4.0% between 2017-2021 and is estimated to be US$ 16,498.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.8% and is expected to reach a valuation of US$ 26,366.3Mn by 2032 end.
To plate one metal onto another using hydrolysis to stop metal from rusting or for ornamental purposes is called electroplating. Since both processes use electro-deposition and fall under additive manufacturing, they are comparable. The anode and cathode are submerged in an electrolytic bath comprised of salt solutions, along with the metal to be plated to plate metal.
Electroplating is the process by which metal ions are transferred onto the surface of the cathode when direct current is conducted through the solution. Electroplating is frequently used to refinish outdated components to make them look brand-new and protect members from corrosion. The increase in automobile demand is a factor in the need for the electroplating market during the forecast period.
ChemView Consulting has analyzed that metal components can be coated with a thin layer of another metal using electroplating, which is widely utilized in many industries. In industrial settings, electroplating copper can significantly produce electronic parts, valuable components for the aerospace and defense sectors, and other factors. Additionally, plating on plastics and other non-metallic surfaces make substantial use of copper. Other advantages of copper electroplating are better corrosion protection, exceptional thickness build, and heat processing stop-off. Nickel is also one of the most popular metals for electroplating in numerous applications requiring it to increase substrate strength and decrease stress. Nickel electroplating is a form of sulfate often used to brighten a substrate’s surface and sulfamate.
The nickel plating metal segment will continue to hold the greatest market share among plating materials through the anticipated period. By the end of 2032, the segment is anticipated to control just under 31% of the market in terms of product type. Because the process produces a microcrystalline structure that is less porous and acts as a robust barrier to basic metals, nickel-based plating offers corrosion resistance. Intense heat treatments and diamond composites can further enhance the outstanding wear resistance of sulfamate nickel plating and sulfate nickel plating.
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Segments Covered in Report
By Plating Metal:
- Manually Operated Inhaler Devices
- Base Metal Plating
- Plastic Plating
- Electrical & Electronics
- Aerospace & Defense
- Machinery Parts & Components
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Electroplating Market
- Based on the plating metal, the nickel plating metal segment will continue to hold the greatest market share among plating materials through the anticipated period. By the end of 2032, the segment is anticipated to control just under 31% of the market in terms of product type. Because the process produces a microcrystalline structure that is less porous and acts as a robust barrier to basic metals, nickel-based plating offers corrosion resistance. Intense heat treatments and diamond composites can further enhance the outstanding wear resistance of sulfamate nickel plating and sulfate nickel plating.
- Based on the substrate, base metal plating continued to account for over 96% of the total market share through the forecast period. The qualities of metal finishing chemicals, such as resistance to corrosion, electrical, wear, torque, hardness, and chemicals combined with electrical conductivity, appearance, and reflectivity to the metal surface, can be credited for their high market share.
- Based on the end-use, the demand from the automotive, electrical, and electronics sectors will keep growing among end users. The two industries have also been named important end-use sectors in the market. The analysis claims that the automobile industry will continue to rule the market during the projection period. In terms of end use, it is anticipated to control more than 34% of the global market by 2021.
- Based on the region, due to its high consumer electronics production, growing industrialization in significant developing economies, and a sizable manufacturing sector, Europe is predicted to hold a substantial market share of 31.7%.
Key companies covered in the market study are Atotech Deutschland GMBH and Interplex Holdings Pte. Ltd, Kuntz Electroplating Inc., Pioneer Metal Finishing Inc., Roy Metal Finishing Inc., Bajaj Electroplaters, J & N Metal Products LLC, Peninsula Metal Finishing, Inc.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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