Electroplating Market Expected to Reach US$ 23,034.16 million by 2027 at Growing CAGR 4.4% with Size, Share and Top Companies Analysis- Atotech,Jing Mei Industrial Limited,Klein Plating Works Inc,Precision Plating Company,Sharretts Plating Co., Inc,Summit

The electroplating market was valued at US$ 16,446.88 million in 2019 and is projected to reach US$ 23,034.16 million by 2027; it is expected to grow at a CAGR of 4.4% from 2020 to 2027.

Electroplating or galvanic electrodeposition is defined as an electrochemical metal finishing process in which metal ions dissolves in solution are deposited on a substrate with the help of electricity.

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This process helps to create a protective coating over the substrate which offers resistance over corrosion and enhance the overall appearance of the product. The process is used to plate or coat several ferrous and non-ferrous metal objects and plastics by using metals such as copper, silver,tin, zinc, palladium,gold, platinum, chromium and aluminum.

In 2019, Asia Pacific contributed to the largest share in the global electroplating market. Rapid urbanization and increased production of consumer electronics are some of the potential drivers facilitating the growth of the electroplating market in Asia Pacific. China is considered to be one of the significant markets of electroplating, in terms of production and consumption, followed by Japan and India. Further, the growth of end-use industries, such as automotive, electrical and electronics, aerospace and defense, medical, and jewelry, with strong presence of leading manufacturers has significantly driven the growth of the electroplating market in the region.

The MAJOR COMPANIES covered in Electroplating are:
• Allenchrome Electroplating Ltd.
• Atotech
• Dr.-Ing. Max Schlötter GmbH & Co. KG.
• Jing Mei Industrial Limited
• Klein Plating Works Inc.
• Precision Plating Company
• Sharretts Plating Co., Inc.
• Summit Corporation of America
• Toho Zinc Co., Ltd.
• Cherng Yi Hsing Plastic Plating Factory Co., Ltd.
• …

The COVID-19 pandemic first began in Wuhan,China, in December 2019, and since then, it has spread at a fast pace worldwide. As of October 2020, China, India, Italy, Iran, Spain, republic of Korea, France, Germany, and the US are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materialsindustry is one of the major industries facing serious disruptions—such as office and factory shutdown and supply chain breaks—as a result of this outbreak.

Market Insights

Increasing Demand from End-Use Industries

Rise in demand from various end users is primarily driving the growth of the global electroplating market. Electroplating has prevented manufacturers from spending heavilyon expensive metals to provide efficient and aestheticallypleasing products. With the advent of electroplating, most of the manufacturers rely on comparatively cheap metals.These metals are then electroplated with other metals to provide better protection from corrosion. These factors are boosting the growth of the global electroplating market. Also, rising demand for wires and semiconductors throughout the world due to the rise in IoT Internet of things has been a boon for the global electroplating market. Increasing penetration of television, smartphones, washing machines, refrigerators, laptops, and other consumer electronics products is favoring the growth of the global electroplating market. Furthermore, rising demand for electroplating from aerospace & defense applications to provide proper finishing to the machinery is anticipated to boost the market growth. Moreover, the process provides corrosion resistance, electrical conductivity, and heat resistance to the machinery in the defense industry. Therefore, rising demand for electroplating for the aforementioned application in the defense industry is propelling the market growth.

Type Insights

Based on type, the electroplating market is segmented into barrel plating, rack plating, continuous plating, and line plating. The barrel plating segment led the electroplating market with the highest market share in 2019. Barrel plating is a method used to flatten large groups of small parts. In this process, the components are placed inside a barrel filled with an electrolyte solution. Barrel plating is best used for small, durable components but offers a cheap, efficient, and flexible solution. Barrel plating is one of the most common forms of electroplating methods. One of the main advantages of barrel plating is its speed and low cost. This method saves time on batch orders and helps producers to maintain speed with high-volume products. This, in turn, is anticipated to drive the growth of the market during the forecast period.

End-User Industry Insights

Based on end-user industry, the electroplating market is segmented into automotive, electrical and electronics, aerospace and defense, medical, and others. The electrical and electronics segment led the electroplating market with the highest market share in 2019. The electrical and electronics industry is considerably reliant on electroplating service providers as it helps increase product lifespan and makes it more resilient. The electrical & electronics industry uses precious and non-precious plated components for various end-use applications to improve characteristics such as solder-ability, wear resistance, corrosion resistance, and electrical conductivity of components and parts of electronic products. Hence, manufacturers of electronic devices and products are obligated to coat their products using electroplating techniques. Moreover, emerging markets,such as South Korea, China, Japan, and India, are witnessing immense economic growth that has increased the demand for electroplating.This, in turn, is expected to drive the electroplating market growth during the forecast period.

Finally, the feasibility of new investment projects is assessed, and overall research conclusions are offered.

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Report Spotlights

Progressive industry trends in the global electroplating market to help players develop effective long-term strategies

Business growth strategies adopted by developed and developing markets

Quantitative analysis of the global electroplating market from 2017 to 2027
Estimation of the demand for electroplating across various industries

PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth

Recent developments to understand the competitive market scenario and the demand for electroplating

Market trends and outlook coupled with factors driving and restraining the growth of the electroplating market

Decision-making process by understanding strategies that underpin commercial interest with regard to global electroplating market growth
Electroplating market size at various nodes of market

Detailed overview and segmentation of the global electroplating market as well as its dynamics in the industry

Electroplating market size in various regions with promising growth opportunities

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