What Has Been the Growth of the Electroplating Market So Far?
The electroplating market has seen considerable growth due to a variety of factors.
• In the past few years, the electroplating market has shown consistent growth. It is projected to expand from a marker size of $14.7 billion in 2024 to a substantial $15.36 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.5%.
The growth experienced during the historic period is a result of factors such as the use of electroplating to enhance surface finish, the transition towards automation and digitization, the use of electroplating in decorative applications, and companies opting to outsource electroplating services to specialized firms.
How Will the Electroplating Market?
The electroplating market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the electroplating market is projected to experience consistent growth, reaching a size of $17.42 billion in 2029 with a 3.2% compound annual growth rate (CAGR). The projected surge in this sector can be linked to the rising use of electroplating in renewable energy systems, the need for wear-resistant coatings in industrial machines, the deployment of electroplating for protection against corrosion, the prevalence of electroplated parts in jewelry making, and the adoption of environmentally friendly electroplating methods. Key factors influencing the market during the forecast period are anticipated to be technological enhancements, the use of plastic coatings, the introduction of automation and robotics, advances in surface finishing procedures, and emphasis on corrosion-proof coatings.
Which Factors Are Boosting Growth In The Electroplating Market?
The electroplating market is expected to see significant growth due to the escalating demand for consumer electronics. This category of electronics is designed for daily use by individuals, and includes a wide range of items like televisions, smartphones, and personal computers. Factors like increasing disposable income and a need for connectivity and convenience are influencing the rise in demand for these products. Electroplating is utilised in consumer electronics to improve the durability and conductivity of parts, such as connectors and circuits, by applying a thin metallic layer. The Japan Electronics and Information Technology Industries Association reports that the total production of consumer electronics in Japan climbed to $213.39 million (¥32,099 million) in May 2023, a significant increase from $155.79 million (¥23,425 million) in January 2023. Consequently, the increase in demand for consumer electronics is fuelling the expansion of the electroplating market.
What Key Areas Define The Segmentation Of The Global Electroplating Market?
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 Trends Are Shaping The Electroplating Market?
Predominant players in the electroplating industry are concentrating on advancing technology, including dripless tech, aimed at amplifying efficiency and lessening the ecological consequences of metal coating methods. This advancement in technology restricts chemical wastage, boosts precision and augments resource efficiency by averting unnecessary solution dripping while coating. To illustrate, SIFCO ASC, an American selective electroplating provider, initiated the Advanced Solution Control System (ASCS), a new all-inclusive portable plating system equipped with dripless technology in June 2022. This particular system permits all chemical solutions to circulate and vacuum via SMART tools prior to getting recycled, thereby establishing a cleaner and safer work atmosphere. Besides being portable, it accentuates productivity and lowers ergonomic tension for operators. The system additionally capitalizes on automation for refining cycle durations, escalating repetitiveness and restricting human inaccuracies.
Who Are the Key Players 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 Is The Most Dominant Region 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.
