Electroplating Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Electroplating Market Size
According to a new report published by , titled, "Electroplating Market," The electroplating market was valued at $18.3 billion in 2022, and is estimated to reach $27.2 billion by 2032, growing at a CAGR of 4% from 2023 to 2032.

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Electroplating Market
Electroplating is a surface coating process in which a thin layer of metal is deposited onto the surface of a conductive object using an electric current. The primary purpose of electroplating is to enhance the appearance, corrosion resistance, and durability of the object. It is widely utilized across various industries, including automotive, aerospace, electronics, jewelry, and manufacturing, to improve the aesthetic and functional properties of components and products.
The electroplating process involves several essential components, including a plating bath or solution containing metal ions of the desired coating material, an anode (source of the metal ions), a cathode (the object to be plated), and an external power source. During the process, when an electric current is passed through the plating bath, metal ions from the anode are attracted to the cathode and get reduced to form a metallic coating on its surface. The thickness and quality of the plating depend on factors such as the duration of plating, current density, bath composition, and temperature.
The electroplating market is experiencing a surge in demand driven by the increasing popularity of electronic products. With the rapid advancement of technology and the widespread adoption of consumer electronics, there is a growing need for electroplating processes in the production of electronic components. The growth of the electroplating market is driven by the increasing prominence of electronic products, which is a result of ongoing product innovation, technology adoption, and demand for electrical devices. Electroplating is required for the uniform coating of metal surfaces in the production of electrical devices, components, and electronic products. The electrical and electronics industry employs both precious and non-precious plated components to improve the product's corrosion resistance, wear resistance, solderability, and electrical conductivity for various end-use applications. Moreover, numerous companies have made substantial investments in the production of electronic products. India plans to produce mobile phones worth a total of $24 billion by 2020 and $190 billion by 2025.

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By Type
● Gold
● Silver
● Copper
● Platinum
● Palladium
● Rhodium
● Others

By End Use
● Automotive
● Electrical and Electronics
● Aerospace and Defense
● Jewelery
● Machinery Parts and Components
● Others

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This release was published on openPR.