Electroplating Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electroplating market size has grown steadily in recent years. It will grow from $14.06 billion in 2023 to $14.70 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to adoption of electroplating for improving surface finish, shift towards automation and digitization, adoption of electroplating for decorative applications, outsourcing electroplating services to specialized firms.
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 growth in the forecast period can be attributed to emerging applications of electroplating in renewable energy systems, demand for wear-resistant coatings in machinery, adoption of electroplating for corrosion protection, usage of electroplated components in the jewelry industry, use of eco-friendly electroplating techniques. Major trends in the forecast period include technological advances, plastic coatings, integration of automation and robotics, innovation in surface finishing techniques, focus on corrosion-resistant coatings.
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Scope Of Electroplating Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electroplating Market Overview
Market Drivers –
The growing demand for consumer electronics products is expected to propel the growth of the electroplating market going forward. Consumer electronics refers to electronic devices intended for everyday use by individuals, encompassing products such as TVs, smartphones, and personal computers. Rising disposable incomes and a growing emphasis on connectivity and convenience drive the increasing demand for consumer electronics products. Consumer electronics utilize electroplating to enhance the durability and conductivity of components, such as connectors and circuitry, by depositing a thin layer of metal. For instance, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, total consumer electronics production in Japan reached $213.39 million (¥32,099 million) in May 2023, compared to $155.79 million (¥23,425 million) in January 2023. Therefore, the growing demand for consumer electronics products is driving the growth of the electroplating market.
Market Trends –
Major companies operating in the electroplating market are focused on developing technological advancements, such as dripless technology, to improve efficiency and reduce environmental impact in metal coating processes. It minimizes chemical waste, enhances precision, and improves resource efficiency by preventing excess solution dripping during the coating process. For instance, in June 2022, SIFCO ASC, a US-based provider of selective electroplating, launched the Advanced Solution Control System (ASCS), a new portable all-in-one plating system featuring dripless technology. This system allows all chemical solutions to flow and vacuum through SMART tools before being recycled, creating a cleaner and safer working environment. It is portable, enhancing productivity and reducing ergonomic risks for operators. It also focuses on automation to optimize cycle times, increase repeatability, and minimize human errors.
The electroplating market covered in this report is segmented –
1) By Type: Copper, Tin, Nickel, ZInc., Chromium, Gold, Silver, Platinum, Other Types
2) By Application: Corrosion Resistance, Wear Resistance, Appearance, Solderability, Other Applications
3) By End Use: Automotive, Electronics, Aerospace, Jewelry, Industrial Machinery, Other End Uses
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Electroplating Market Report Structure
3. Electroplating Market Trends And Strategies
4. Electroplating Market – Macro Economic Scenario
5. Electroplating Market Size And Growth
…..
27. Electroplating Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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