Press release
Electroplating Market Size Projected To Reach $17.42 Billion By 2034 With A Cagr Of 3.2%
Electroplating
What Is the Projected Growth of the Electroplating Market?
The size of the electroplating market has seen a consistent rise in the past few years. Its estimated value of $14.7 billion in 2024 is projected to increase to $15.36 billion in 2025, with a compounded annual growth rate (CAGR) of 4.5%. Factors such as the use of electroplating to enhance surface finishes, the trend towards automation and digitization, the application of electroplating for decorative purposes, and the practice of outsourcing electroplating tasks to specialized firms have contributed to the growth experienced in this historical period.
The market size of electroplating is predicted to experience consistent expansion in the upcoming years, reaching a valuation of $17.42 billion by 2029, with a CAGR of 3.2%. Factors contributing to this forecasted growth, include the newly identified utilization of electroplating in renewable energy systems, the increasing demand for wear-resistant coatings in machinery, the growing decision to use electroplating for corrosion protection, the expanded use of electroplated elements in the jewelry industry, and the implementation of environmentally friendly electroplating methods. During the forecast period, significant trends are expected including technological advancements, plastic coatings, incorporation of automation and robotics, development in surface finishing techniques, and a concentrated emphasis on corrosion-resistant coatings.
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What Are the Different Electroplating Market Segments?
The electroplating market covered in this report is segmented -
1) By Type: Copper, Tin, Nickel, Zinc, Chromium, Gold, Silver, Platinum, Other Types
2) By Application: Corrosion Resistance, Wear Resistance, Appearance, Solderability, Other Applications
3) By End Use: Automotive, Electronics, Aerospace, Jewelry, Industrial Machinery, Other End Uses
Subsegments:
1) By Copper: Acid Copper Plating, Cyanide Copper Plating, Electroless Copper Plating
2) By Tin: Bright Tin Plating, Matte Tin Plating, Tin-lead Plating
3) By Nickel: Bright Nickel Plating, Matte Nickel Plating, Electroless Nickel Plating
4) By Zinc: Zinc Plating, Zinc Alloy Plating, Zinc-Nickel Plating
5) By Chromium: Hard Chromium Plating, Decorative Chromium Plating, Trivalent Chromium Plating
6) By Gold: Bright Gold Plating, Matte Gold Plating, Electroless Gold Plating
7) By Silver: Bright Silver Plating, Matte Silver Plating, Electroless Silver Plating
8) By Platinum: Platinum-Carbon Alloy Plating, Platinum-Tungsten Alloy Plating
9) By Other Types: Palladium Plating, Rhodium Plating, Titanium Plating, Aluminum Plating
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What Are the Primary Drivers Shaping the Electroplating Market?
The electroplating market is expected to expand due to the increasing demand for consumer electronics products. These are devices meant for the everyday use of individuals, including smartphones, TVs, and personal computers. The demand for these products is fueled by rising disposable incomes and heightened focus on convenience and connectivity. Electroplating is a crucial process in the manufacturing of these devices, as it improves the durability and conductivity of components like connectors and circuits by coating them with a thin metal layer. For example, the Japan Electronics and Information Technology Industries Association reports that the total production of consumer electronics in Japan escalated to $213.39 million (¥32,099 million) in May 2023, from $155.79 million (¥23,425 million) in January 2023. As a result, the escalating demand for consumer electronics products directly influences the growth of the electroplating market.
Which Companies Are Leading in the Electroplating Market?
Major companies operating in the electroplating market are Atotech Deutschland GmbH, Peninsula Metal Finishing Inc., Coventya Inc., Pioneer Metal Finishing LLC, Allied Finishing Inc., Erie Plating Company, Heimerle + Meule GmbH, Roy Metal Finishing, Metalor Technologies International SA, SIFCO Applied Surface Concepts, Epner Technology Inc., J & N Metal Products LLC, Columbia Chemical, Bronson Plating Company, Tawas Plating Company, Sharrets Plating Co Inc., Klein Plating Works Inc., ENS Technology Ltd., Gold Touch Inc., Precision Plating Company Inc., MacDermid Enthone Industrial Solutions (Element Solutions Inc), ECO Finishing Company, Electro-Spec Inc., Bajaj Electroplaters Pvt. Ltd., Kuntz Electroplating Inc.
What Are the Major Trends Shaping the Electroplating Market?
Leading businesses in the electroplating market are putting an emphasis on technological growth like dripless technology in order to increase performance and lessen the environmental consequences of metal coating methods. This technology decreases chemical waste and enhances both accuracy and the efficient use of resources by preventing excessive solution dripping during the coating procedure. For example, in June 2022, a US firm specialising in selective electroplating, SIFCO ASC, unveiled the Advanced Solution Control System (ASCS), a new portable plating system that incorporates dripless technology. This system facilitates the flow and vacuuming of all chemical solutions using SMART instruments before they are recirculated, resulting in a cleaner and safer work setting. The portable nature of the system boosts productivity and lowers ergonomic risks for users, and its emphasis on automation improves cycle times, repeatability, and reduces human errors.
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What Are the Top Revenue-Generating Geographies in the Electroplating Market?
Asia-Pacific was the largest region in the electroplating market in 2024. The regions covered in the electroplating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electroplating Market?
2. What is the CAGR expected in the Electroplating Market?
3. What Are the Key Innovations Transforming the Electroplating Industry?
4. Which Region Is Leading the Electroplating Market?
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