The global electroplating market is predicted to experience considerable year-over-year expansion over the foreseen period 2020-2025. Electroplating is a type of metal finishing that has found its application in many applications among various end-user products, such as electrical and electronic, automotive, machinery parts and components, and aerospace and defense.
Rapid urbanization and rapid industrialization are likely to play a crucial role in the rise of the worldwide electroplating market in the coming years. Emerging economies are experiencing intense industrialization and construction activity as various manufacturers try to profit by investing in the untapped region. Electroplating helps manufacturers to use inexpensive metals, for example, steel or zinc for almost any product, and then to protect the product, the metallic coating of other metals is employed to protect it from corrosion improve its prospects and others according to the customer's choice. Electroplating or electroplating is defined as an electrochemical metal finishing process in which metal ions dissolved in a solution are deposited onto a substrate using electricity. This process creates a protective layer on the substrate that provides resistance to corrosion and improves the overall appearance of the product. Under the mechanism, the electric current passes through a solution of dissolved metal ions and the metal object to be coated.
Various objects made of ferrous and non-ferrous metals, as well as plastics, are coated with different electroplating metals such as tin, zinc, silver, copper, chrome, gold, palladium, platinum, and aluminum. This is likely to promote the demand for electroplating in the coming years.
The global electroplating market is predicted to record a considerable expansion rate during the foreseen period. Electroplating is most commonly employed for decorative purposes or to prevent corrosion of a metal. It is a process of plating one metal plate on another using the hydrolysis technique. Some of the specific types of electroplating are silver, copper, and chrome. Electroplating is often used in verticals like automotive, aerospace and defense, electrical and electronic, and machine parts. Strong call for electroplating from the electrical and electronics industry, especially in the manufacturing of components for televisions, refrigerators and air conditioners, is predicted to drive the expansion of the global electroplating market. Many manufacturers are changing the electroplating process, for example, adopting the dry process rather than the wet process, as this reduces worker exposure and waste generation. Furthermore, the shift in manufacturer preference towards water-based cleaning agents over organic agents is also predicted to drive the expansion of the global electroplating market during the foreseen period.
Restraints in the Electroplating Market:
However, environmental concerns and the high cost associated with the process are predicted to be the main factors hampering the expansion of the world market.
Opportunities in the Electroplating Market:
The growing call for electroplating from aerospace and defense applications to provide a suitable finish to machinery is predicted to drive the expansion of the electroplating market. Finishing generally involves the process of coating metal that adheres to the surface of the material and provides a protective bond. Additionally, the process also provides corrosion resistance, electrical conductivity, heat resistance, and friction wear to defense industry machines. Therefore, the escalating call for electroplating for the above application in the defense industry is likely to be driving the expansion of the market.
Challenges in the Electroplating Market:
Governments in various regions impose certain regulations on the electroplating process due to the emission of harmful chemicals and gases, which are released into the atmosphere. This factor is supposed to hamper this business expansion in anticipated years.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 – 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 - 2025 |
|
CAGR |
- |
|
Segments Covered |
By Product, Type, Consumption, Distribution Channel and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Superchem Finishers, Metalor Technologies International SA, Heimerle+meule GmbH, Sharrets Plating Co., Inc., Peninsula Metal Finishing, Inc., J&N Metal Products LLC, Bajaj Electroplaters, Roy Metal Finishing, Inc., Pioneer Metal Finishing, Kuntz Electroplating, Inc., Interplex Holdings, Pte. Ltd., Atotech Deutschland GmbH, and Allied Finishing, Inc. |
By metal type:
By end use industry:
Based on the end-use industry, in 2020, the electrical and electronics segment accounted for the largest market share with 34.5% in terms of revenue, followed by automotive.
The Electroplating Market includes the segmentation of Regions with their respective Countries.
North America
Asia-Pacific contributed the largest market share in 2020 and is predicted to show remarkable expansion over the foreseen period. Due to the expansion of production facilities in various industrial sectors, especially in the electronics and semiconductor industry, coupled with rapid urbanization, market call is estimated to increase significantly in the region over the next few years. Analysts expect the worldwide electroplating market in Western Europe and North America to be mature compared to the APAC region. Countries like China, South Korea and India are likely to be the top contributors to the APAC region. This is likely to attract a number of investors, which will grow the worldwide electroplating market at an exponential rate. On the other hand, Latin America is predicted to grow at a stable CAGR during the conjecture period.
Asia-Pacific is predicted to dominate the electroplating market with the emergence of China as a leading consumer, due to the strong presence of the growing automotive, consumer goods, and electrical and electronics industries. The Asia-Pacific region is predicted to have a significant share of the high-consumption electronics production market account, along with rapid industrialization in major developing countries and the presence of a very large manufacturing industry in large countries like China and India, among others. Furthermore, a large automobile manufacturing base in countries such as China, India and Japan also contribute to the significant call for electroplating in this area. Escalated investment in terms of production expansion will further contribute to market expansion in the Asia-Pacific region during the outlook period. North America and the European region are also supposed to have a notable market share due to well-established infrastructure and the presence of large luxury car manufacturers such as Mercedes, BMW, and Volkswagen in the locale.
Electroplating Market Key Players:
The global electroplating market is associated with major players including Superchem Finishers, Metalor Technologies International SA, Heimerle+meule GmbH, Sharrets Plating Co., Inc., Peninsula Metal Finishing, Inc., J&N Metal Products LLC, Bajaj Electroplaters, Roy Metal Finishing, Inc., Pioneer Metal Finishing, Kuntz Electroplating, Inc., Interplex Holdings, Pte. Ltd., Atotech Deutschland GmbH, and Allied Finishing, Inc.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Electroplating Market, By Metal Type
6.1.1 Gold
6.1.2 Silver
6.1.3 Copper
6.1.4 Nickel
6.1.5 Chromium
6.1.6 Zinc
6.1.7 Market Size Estimations & Forecasts (2019-2024)
6.1.8 Y-o-Y Growth Rate Analysis
6.1.9 Market Attractiveness Index
6.2 Electroplating Market, By End-Use Industry
6.2.1 Automotive
6.2.2 Electrical & Electronics
6.2.3 Aerospace & Defense
6.2.4 Jewellery
6.2.5 Machinery Parts & Components
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Metal Type
7.2.3 By End-Use Industry
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Metal Type
7.3.3 By End-Use Industry
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Metal Type
7.4.3 By End-Use Industry
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Metal Type
7.5.3 By End-Use Industry
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Metal Type
7.6.3 By End-Use Industry
8. Key Player Analysis
8.1 Superchem Finishers
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Metalor Technologies International SA
8.3 Heimerle+meule GmbH
8.4 Sharrets Plating Co., Inc
8.5 Peninsula Metal Finishing, Inc
8.6 J&N Metal Products LLC
8.7 Bajaj Electroplaters
8.8 Roy Metal Finishing, Inc
8.9 Pioneer Metal Finishing
8.10 Kuntz Electroplating, Inc
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
