Precious Metal Plating Chemicals Market Growth with Statistical Forecast, Geographic Segmentation and Competitive Landscape
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Global Precious Metal Plating Chemicals Market: Notable Developments
Below are a few notable developments in the global precious metal plating chemicals market:
The combination of laser technology with electroplating has significantly enhanced the precious metal plating process. This technology involves the use of high density laser beam irradiation interface. It facilitates enhancement of the chemical reaction of the irradiation area. This process improves the fatigue and corrosion resistance of the metal. Moreover, lasers have a good monochromatic coherence which allows effective treatment of small parts. Development of this technology has presented numerous growth opportunities for the global precious metal plating chemicals market.
The use of nanotechnology in metal plating has paved new avenues for the global metal plating chemicals market. Nanotechnology facilitates precision in metal coating and offers protection against all types of corrosion. NanoTech has developed new nanocoatings that are suitable for a range of substrates. Moreover, they are long lasting and environmentally friendly. Additionally, they provide protection from UV rays and reduce ice adhesion.
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Prominent players in the global precious metal plating chemicals market include Legor Group S.p.A., Roberts Chemical Co., American Elements, Japan Pure Chemical Co., Matsuda Sangyo Co., and Marshall Laboratories.
Global Precious Metal Plating Chemicals Market: Key Growth Dynamics
The precious metal plating industry poses great environmental threats. This has resulted in the development and adoption of green chemicals for metal plating, thereby driving the growth of global precious metal plating chemicals market. Additionally, increasing applications of metal plating in the electronics industry have highly stimulated the precious metal plating chemicals market’s growth.
Furthermore, extensive use of gold plating chemicals in the semiconductor industry has led to a surge in the precious metal plating chemicals market. In addition to this, these chemicals act as a catalyst for chemical processes such as glass coating. Moreover, they are also used in coating satellite thrusters and find several applications in the steel industry. These factors have highly contributed to an expansion of the global metal plating chemicals market.
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In addition to the aforementioned drivers, development of new electroplating techniques and perpetual research activities have triggered the market’s growth. Along with this, rising use of precious metal plating chemicals to coat plastics in the automotive industry has expedited the precious metal plating chemicals market’s expansion.
On the downside, there are a few restraints that may thwart the global precious metal plating chemicals market’s growth. Factors such as stringent environmental regulations laid down by governments and a dearth of raw materials in remote areas may restrict the market’s growth. Nevertheless, rising applications of precious metals in several end-use industries will present new avenues for the precious metal plating chemicals market. Additionally, rising demand from the aerospace sector will open new frontiers for the precious metal plating chemicals market’s growth.
Global Precious Metal Plating Chemicals Market: Regional Outlook
Geographically, Asia Pacific is expected to show promising growth in the global precious metal plating chemicals market owing to high demand from developing countries such as India and China. Europe is also perceived to witness high growth during the forecast period due to the presence of large scale automotive industries.
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