Electroplating Market Size Analysis

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.

The process of electroplating, commonly referred to as electro-deposition, involves applying the material to a workpiece while using an electric current. It is a procedure where a thin layer of metal is applied to the substrate, a workpiece. Electroplating is mostly used to alter an object’s physical characteristics. The need for electroplating is anticipated to increase over the next several years due to the growth of the electronics sector.

Market Dynamic

VARIOUS TYPES OF METAL AND NON-METAL COATINGS DRIVE GLOBAL INDUSTRIAL DEMAND

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.

ENVIRONMENTAL CONCERNS RELATED TO THE ELECTROPLATING TECHNIQUE

Even though the market for electroplating is expanding quickly, environmental issues associated with this technique are impeding market expansion over the coming years. Emissions of harmful air pollutants from electroplating activities, which use heavy metals and cyanide, are possible. Degreasing and cleaning agents also release hazardous air pollutants and volatile organic compounds (VOC).

Cyanide is the main ingredient in plating solutions that harms the heart, lungs, and nervous system. The governments of several nations are enforcing specific regulations on the electroplating industry to reduce the amount of dangerous chemicals and gases released into the atmosphere during the electroplating process. This will probably present the electroplating market with significant challenges.

RISING DEMAND FOR CONSUMER ELECTRONICS PRODUCT

Due to continued product innovation, technological adoption, and consumer demand for electrical gadgets, electronic items’ popularity is growing, driving the electroplating market’s expansion. Electroplating uniformly coats metal surfaces to produce electrical devices, components, and electronic goods.

The electrical and electronics sector uses precious and non-precious plated components for various end-use applications to enhance product properties like corrosion resistance, wear resistance, solderability, and electrical conductivity. Additionally, several businesses have made significant investments in creating electronic goods. India wants to develop mobile phones with a total value of $24 billion by 2023 and $190 billion by 2032.

Market Segments Covered in Report

By Plating Metal:

• Gold
• Silver
• Copper
• Nickel
• Chromium
• Zinc
• Others

By Substrate:

• Manually Operated Inhaler Devices
• Base Metal Plating
• Plastic Plating

By Function:

• Decorative
• Functional

By End-Use:

• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Jewelry
• Machinery Parts & Components
• Others

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)

Segment-Wise Analysis

What’s the market share of nickel-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.

Why is base metal plating leading?

Through the forecast period, base metal plating continued to account for over 96% of the total market share. 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.

The increased need for high-performance automotive products with superior corrosion resistance to enhance the quality of exterior automobile elements, such as emblems, door handles, hood ornaments, and tire rims, drives the need for base metal plating.

Why do the automotive and electronics continue leading growth?

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.

The electrical and electronics industry will be far behind. Promoting the sale of electronics in China, India, and other developing countries will continue to be a crucial development enabler. In addition, developing market growth prospects will support the segment’s electroplating demand.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• 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%.
• Throughout the projected period, North America will continue to be one of the most profitable markets. The US is anticipated to lead growth in North America. The country’s extensive and expanding industrial and automotive industries are one of the main elements promoting expansion. One of the largest automotive markets in the world is thought to be the United States.

Competition Analysis

To meet the needs of a growing customer base, businesses in the electroplating sector are focusing on strategic partnerships with OEM producers. Some of the participants are concentrating on expanding for a certain demographic. The line had good heat resistance, galvanic corrosion protection, and corrosion production for vehicle under-hood and under-body parts.

The key developments in the Global Electroplating Market:

• In December 2020, the new DynaSmart plating range for corrosion-resistant coatings was introduced by Atotech. The groundbreaking automation architecture of DynaSmart makes it possible to transfer several product carriers through various plating tanks at once. It comes in a modular design and is small in size. So it can be used in factories that have already been planned.
• In December 2020, Nichem MP 400, a new super-bright mid-phosphorus electroless nickel process, was introduced by Atotech. The environmentally friendly and risk-free Nichem MP 4000 method can plate Ni-P (Nickel Phosphorous) coatings with extremely high gloss values between 300 GU and 600 GU.

A list of some of the key suppliers present in the market are:

• Atotech Deutschland GMBH
• 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.

Report Coverage and Highlights

• 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 impacting the 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.

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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