Electroplating market is projected to grow at a moderate CAGR of 2.91% throughout the forecast period

Electroplating is a process in which plating of one metal is done on another metal by hydrolysis majorly for decorative purposes and to prevent the corrosion of the metal. The market for electroplating is projected to grow on account of the rising demand for consumer goods with metal finishing coupled with a surge in the manufacturing sector across the globe. The growing adoption of electroplating in the automotive industry is also significantly contributing to the growth of the electroplating market for the coming years.

This report provides forecast and analysis of the electroplating market which is anticipated to expand at a CAGR of 2.91% over the period of 2018-2024. The burgeoning demand for metal finished consumer goods, the growth of the automotive industry and a surge in the electronics industry are the factors driving the demand for electroplating. Another factor that has contributed significantly to the electroplating industry is the growing popularity of electronic products due to rapid product innovations on account of rising consumer expectations is further leading to a reduction in prices. Thus, the reduction in prices is further amplifying the demand for these products. The rising adoption of electroplating by the automotive manufacturers for covering the body of the vehicle with rust-proof and non-corrosive materials coupled with a significant surge in the automotive industry at the global level is also projected to spur the growth of electroplating market during the next five years.

Geographically, the Asia Pacific region is projected to hold a noteworthy share in the market owing to the presence of a large manufacturing base in countries like India, and China among others, coupled with the presence of global manufacturers of consumer electronics in countries like China, India, and Taiwan. North America and Europe are projected to grow substantially over the forecast period on account of the early adoption of technology along with the availability of a well-established infrastructure.

Some of the major players covered as part of the report are Atotech, Allied Finishing, Peninsula Metal Finishing Inc., Kuntz Electroplating Inc (KEI), and Pioneer Metal Finishing, LLC among others.

This report segments the electroplating market as below:
• By Application
• Gold
• Silver
• Platinum
• Rhodium
• Aluminum
• Chromium
• Nickel
• Copper
• Others

• By Type of Plating
• Mass Plating
• Rack Plating
• Continuous Plating
• Line Plating

• By Application
• Corrosion Protection
• Decoration
• Electrical and Electronics
• Others

• By Industry Vertical
• Automation
• Electrical and Electronics
• Aerospace and Defense
• Others

• By Geography
• North America
• United States
• Canada
• Mexico

• South America
• Brazil
• Argentina
• Others

• Europe
• Germany
• France
• UK
• Spain
• Others

• Middle East and Africa
• Israel
• Saudi Arabia
• Others

• Asia Pacific
• China
• Japan
• South Korea
• India
• Others

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This release was published on openPR.