Cyanide-free Gold Plating Market to Reach CAGR 12,5% by 2031 Top 10 Company Globally

Cyanide-free gold plating refers to electrolytic or electroless deposition of gold from chemistries that avoid cyanide salts (e.g., sulfite, thiosulfate, and emerging autocatalytic formulations). The shift away from cyanide is being driven by EHS compliance, wastewater limits, corporate sustainability targets, and the need to plate on increasingly delicate substrates in semiconductors, advanced packaging, connectors, PCBs and jewelry where bath stability, fine-feature coverage and bondability are critical. Non-cyanide systems now include alkaline non-cyanide electrolytes for wafer bumping and RDL, neutral pH immersion and electroless baths for ENIG/ENEPIG final finishes, and sulfite-based processes qualified for high-reliability electronics. Suppliers that historically led cyanide chemistry are commercializing drop-in or near drop-in non-cyanide lines for leading OSATs, substrate makers, PCB fabricators and connector finishers.

The cyanide-free gold plating market valued at 336 million range in 2024, while projections imply the segment roughly doubles by 2031 to approximately USD 766 million, an implied compound annual growth rate of about 12,5% from 2024 to 2031.
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Latest Trends and Technological Developments
Vendors are releasing production-grade, non-cyanide baths for ENIG/ENEPIG and wafer interconnects and are highlighting them at Asia trade shows, reflecting strong demand from substrate and OSAT customers. On June 2025, Umicores materials division promoted its AURUNA® platform and noted availability of cyanide-free delivery forms for certain concentrates and replenishers, aligning product strategy with sustainability mandates and cost control in precious metals. In August 2025, MKS/Atotech announced its showcase at Thailand Electronics Circuit Asia 2025 with next-generation PCB and substrate solutions, a portfolio that includes non-cyanide processes widely used in Asia for packaging and advanced PCBs. In 2024, Technic announced Techni IM Gold AT8000, a non-cyanide immersion gold designed to improve solderability while reducing gold consumption for ENIG lines, underscoring cost-down and reliability drivers. In parallel, MacDermid Alpha features mild alkaline non-cyanide electrolytes for backside interconnects and fine-pitch gold bumping, and Uyemura has neutral pH, cyanide-free electroless and immersion gold chemistries for wafers and SMT, indicating deepening process windows across applications from RDL to final finishes.
Asia remains the locus of demand because semiconductor packaging, substrates and high-density PCBs are clustered in Greater China, Japan, Korea, Taiwan and an increasingly sophisticated Southeast Asia. Regulatory headwinds on cyanide use and dischargesuch as Indias Central Pollution Control Board limits for cyanide, Singapores Hazardous Waste regulations, and evolving effluent guidelines in major manufacturing hubs continue to nudge finishers toward cyanide-free lines. At the same time, the broader gold plating chemicals market context shows Asia-Pacific as the fastest-growing region, resonating with the regions expansion in electronics and packaging capacity. Suppliers like Umicore, MacDermid Alpha, Technic, Tanaka/EEJA and Atotech are entrenched with Asian fabs and packaging houses, offering sulfite and other cyanide-free platforms for lines that need fine feature control and bondability.

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Cyanide-free Gold Plating by Type:
Gold Content Above 15g/L

Gold Content Below 15g/L

Cyanide-free Gold Plating by Application:
Electronics and Semiconductor

Jewelry

Precision Instruments and Meters

Watch

Others

Global Top 10 Key Companies in the Cyanide-free Gold Plating Market
Tanaka

LT Metal

Shenzhen United Blueocean

Kanto

Krohn Industries

Legor

Nano3D Systems

Transene Company

Shenzhen Tianyue New Material

Guangdong Guanghua Sci-Tech

Regional Insights
Southeast Asia is rapidly consolidating its position as an alternative manufacturing base for PCBs and electronics assembly, which elevates local demand for ENIG/ENEPIG and, by extension, cyanide-free immersion/electroless gold. Thailand and Vietnam are attracting substrate and PCB investment, supported by trade diversification from China; recent reports highlight Thailands THECA expo and multiple vendor line-ups aimed at local PCB growth, while industry coverage notes a structural shift of electronics supply chains into ASEAN. Major OEMs have announced relocations of motherboard and PC production to Thailand, Vietnam and Indonesia, implying more local final-finish capacity and plating chemistry pull-through, including non-cyanide options favored by multinationals EHS policies. The cumulative effect is a multi-year build-out of plating lines in ASEAN, with sustainability credentials increasingly part of supplier selection.
Cyanide-free Gold Plating by Region:
North America
Europe
China
Japan
India
South East Asia

Despite momentum, several constraints remain. First, legacy connector and hard-gold applications still rely on potassium gold cyanide (PGC) alloys for very high-speed or hard deposits; while sulfite and other chemistry families have matured, universal drop-in replacements for all high-throughput alloyed applications are not yet common. Second, total cost of ownership is sensitive to precious metal prices and gold loading, which pushes process engineers to prefer chemistries that enable thinner, more uniform deposits without compromising performance. Third, EHS advantages do not fully erase compliance obligations; non-cyanide baths still require rigorous control of metal ions and by-products, and finishing shops must qualify alternative chemistries for bondability, wire pull, solder spread and corrosion tests before broad rollout.
For suppliers, the winning playbook in Asia and Southeast Asia is to deliver cyanide-free platforms that hit three targets simultaneously: reliability metrics (e.g., contact resistance, solder spread and intermetallic control), precious-metal efficiency (tight thickness distribution, slower controlled deposition) and regulatory simplicity for waste treatment and worker exposure. Close alignment with substrate makers and OSATs on line conditions agitation, current density windows, bath analytics and replenishment control accelerates conversion. For fabricators, prioritizing non-cyanide upgrade paths during capacity expansions in Thailand, Vietnam and Malaysia shortens validation cycles with export customers who increasingly require greener chemistries in their supplier CoCs.

Product Models
Cyanide-free gold plating solutions are increasingly preferred for their enhanced safety, environmental compliance, and simplified waste treatment. These alternatives employ complexes like sulfite, thiosulfate, or ammonia instead of toxic cyanide, offering corrosion resistance, conductivity, and decorative finishes comparable to traditional processes.
Gold content above 15 g/L are high-gold-concentration baths used when a thick, pure, and durable layer is needed. Notable products include:
Earth Coat 24K/18K/14K/Rose Gold Kreizel Plating: Ready-to-use quart baths for pen plating, free of cyanide, available in various karats for decorative applications.
Eco-Friendly Electroless Gold Plating Solution Dense Layer (Industrial/Decorative) Guangzhou Yishun Chemical Co., Ltd.: A cyanide-free plating liquid delivering dense, glossy coatings on metals for industrial or decorative uses.
Eco Gold Electroplating Liquid (Q/YS.931) Guangzhou Yishun Chemical Co., Ltd.: Non-toxic, environmental plating solution suitable for copper, steel, and nickel, ideal for quick immersion applications with stable results.
24K Pure Eco Gold Plating Solution Gold Plating Services: A sulfite-based, cyanide-free solution yielding 99.99% pure, bright gold used in medical, electronics, and PWB industries

FLASHGOLD-EVO Legor: A nickel-free, cyanide-free flash gold electrolytic system for decorative applications. Color customizable, uniform deposition, usable with barrel plating
Gold content below 15 g/L are lower-gold-concentration solutions, usually for decorative or brush/pen plating. Examples include:
Tivian 14K/18K/20K/Rose Gold Solutions-Gold Touch Inc: Completely cyanide-free chemical kits designed for pen or beaker plating of jewelry in various karats, likely formulated with lower gold content suitable for small-scale applications.
Cohler Pen Pal 18K Gold Pen Plating Solution (Cyanide Free): Micro-Tools
1-oz jars of 99.99% gold in a cyanide-free formulation, designed for digital pen platersrich, deep plating
Rose Gold Pen Plating Solution (Cyanide Free)-MetalClay UK: A small-volume solution (30 mL) for pen plating in rose gold finish, safer and user-friendly
Rose Gold Brush/Pen Plating Solution Cyanide Free (18K)-Goldn (Spa Plating): Fast plating, single-component, air-sensitive, customizable shade via mixers.
EarthGold Plating Solution Nickel-Free (1 Quart)-Gesswein: Hypoallergenic, cyanide-free, versatile gold plating solution for various metals
Cyanide-free gold plating has moved from niche to mainstream option in critical applications where bondability, fine-feature coverage and sustainability converge. With a 2024 market size of roughly USD 336 million and a projected 12,5% CAGR to 2031, growth will be led by Asia and especially Southeast Asia as packaging and PCB capacity relocates and expands. Suppliers that integrate process control, metals efficiency and regulatory readiness into cyanide-free portfolios will gain share as OEMs and EMS providers standardize greener chemistries across global QMS frameworks.

Investor Analysis
For equity and strategic investors, the key takeaway is that cyanide-free chemistries are a secular growth wedge within the broader gold plating chemicals market, capturing specification wins as OSATs, substrate makers and PCB fabs scale capacity in Thailand, Vietnam, Malaysia and Indonesia. The what is the replacement cycle and greenfield adoption of non-cyanide processes in ENIG/ENEPIG and wafer-level interconnects; the how is vendor roadmaps that translate into higher share of line conversions, recurring chemical revenues and stickier installed bases thanks to analytics, equipment tie-ins and precious-metal savings; the why is that EHS and supply-chain de-risking act as durable demand drivers, supporting double-digit expansion for cyanide-free offerings even when the broader chemicals market grows mid-single-digit. Monitoring vendor news in ASEAN trade shows, qualification milestones at local OSATs, and regulatory tightening on cyanide handling provides actionable timing signals for allocation.
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5 Reasons to Buy This Report
it converts disparate primary vendor disclosures and market publisher estimates into a single, defensible 2024 baseline and 2031 outlook for the cyanide-free segment.
it links on-the-ground Southeast Asia capacity trends with plating chemistry demand to identify regional revenue catalysts.
it benchmarks leading suppliers cyanide-free portfolios and commercialization signals to help with partnership, M&A or supplier risk reviews.
it highlights regulatory vectors that favor non-cyanide adoption and can accelerate line conversions.
it translates technical developments into investable implications around materials efficiency, yield and total cost of ownership.
5 Key Questions Answered
what is the true size of the cyanide-free gold plating market in 2024 and its CAGR to 2031?
how fast are Asia and Southeast Asia absorbing non-cyanide chemistries relative to legacy cyanide lines?
hich product families (sulfite electrolytes, neutral electroless and immersion gold) are securing qualifications in PCBs, substrates and WLP?
what vendor announcements and trade-show activities signal near-term revenue capture and where?
why do EHS policy, effluent limits and precious-metal efficiency tilt procurement toward cyanide-free options despite qualification hurdles?
Chapter Outline
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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