New York, USA, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Electroplating Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Electroplating Market Information by Metal, Type, End-Use Industry, and Region - Forecast till 2030”, the market is estimated to grow at a 4% CAGR to reach USD 19.8 Billion by 2025.
Popularity of electroplating is high. Another name for it is galvanic electrodeposition. An electrochemical process called electroplating involves keeping a metal on a substrate to create a protective barrier around it and enhance its appearance. An electrical flow is passed through a solution containing the fragmented metal particles and the metal object to be plated to complete the electroplating process. The electric flow reduces the broken down metal cations to form a delicate metal layer on the substrate.
Unique electroplating metals like silver, tin, zinc, copper, chromium, palladium, platinum, gold, and aluminium are used to coat various ferrous and non-ferrous metal objects as well as polymers.
Expanded protection against consumption, wear, and scraped spots, electrical conductivity, reduced rubbing, increased surface uniformity, and improved binding characteristics of materials for painting or covering are the main benefits of electroplating. The auto industry is the major consumer of electroplating, which is also popular in the aviation, security, gadget, modern equipment, and adornments industries. The need for electroplating is likely to increase due to the growing popularity of solid metals and the increased usage of adaptable assembly techniques for a variety of purposes in the automotive, aviation and security, electrical, and gadget industries.
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|Market Size in 2025||USD 19.8 Billion|
|Forecast Units||Value (Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Metal, Type, End-Use Industry, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Developing Demand for Electroplating Applications in Automotive Industry is driving the electroplating market.|
|Assembling development and the extension of ventures are introducing new opportunities for electroplating market share.|
Major Market Players
The key players in the electroplating market:
- Sharretts Plating Company (US)
- Atotech (Germany)
- Allenchrome (England)
- Sheen Electroplaters Pvt Ltd (India)
- Precision Plating Co. (US)
- Summit Corporation of America (US)
- Dr.-Ing. Max Schlötter GmbH & Co. KG (Germany)
- TOHO ZINC CO., LTD (Japan)
- Jing-Mei Industrial Ltd. (Hong Kong)
- Klein Plating Works, Inc (US)
- Cherng Yi Hsing Plastic Plating Factory Co., Ltd (China)
- Allied Finishing (US)
- Among others.
The electroplating sector is seeing growth due to consumer demand for high-end automotive segments with beautiful erosion protection to enhance the appearance of exterior car elements such emblems, door handles, hood trimmings, and wheel edges. One of the popular electroplating methods used in the automotive industry is zinc-nickel plating. Additionally, the use of plastics in the automotive industry is expanding to provide lightweight solutions. The demand for metal plating to upgrade plastics' appearance and properties as well as to give non-conductive plastic surfaces electrical conductivity is anticipated to drive the expansion of the electroplating market along with the rising popularity of plastic composites.
The growing demand for electroplating applications in the automotive industry is boosting demand for the industry. The auto industry utilises all zinc to gold electroplating techniques, making it possibly the biggest consumer of electroplating innovation. Modern automobiles also use plastic electroplating to chrome-plate lightweight components. Due to its ability to hold a lot of hydrogen, palladium plating is used in the creation of exhaust systems. In the auto industry, manufacturers are constantly looking for ways to protect their products from erosion's tenacious forces. Despite the fast growth of the automotive industry, various automobile parts frequently use the electrifying process.
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The main issue facing the electroplating industry is ecological issues related to plating techniques. The market for electroplating is expanding swiftly, however inherent problems related to this process are impeding its growth throughout the anticipated period of time. Electroplating operations involving heavy metals and cyanide can result in toxic air toxin discharges. Degreasing and cleaning methods also provide hazardous air pollutants and unstable natural mixes. Cyanide is an essential component of plating arrangements that affect the heart, lungs, and sensory system. Some countries' legislatures are imposing specific regulations on the electroplating sector to control the release of harmful synthetic chemicals and gases into the atmosphere during the electroplating process.
This would likely provide a considerable challenge to the expansion of the global electroplating market.
Due to the growing need for the excellent erosion execution of embellishing multi-facet in-car boosting plating, certain developments are being made to enhance the nature of electroplating and expand the market sectors for an ornamental electroplated nickel or chromium plating. The development of electroplating market trends is anticipated to be constrained by the rising concern over hazardous elements produced by metal finishing processes in the interaction and a possibility to boost optional clean innovation.
Putting things together and expanding businesses are creating new potential for electroplating market share. Many people in the country might find job in the nation's assembly area. Large-scale innovation efforts in the fields of integrated vehicles, renewable energy, and maintainable assembly, among others, have boosted modern invention and opened up enticing opportunities for electroplating applications.
The global electroplating market is segmented on the basis of metal, type, end user, and region. Based on Metal, the market is segmented into Standard Metals, Precious Metals, and Alloys. Based on Type, the market is segmented into Barrel Plating, Rack Plating, Continuous Plating, and Line Plating. Based on the End-Use Industry, the market is segmented into Automotive, Electrical & Electronics, Aerospace & Defense, Industrial Machinery, Jewelry, and Medical.
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Europe, North America, the Middle East & Africa, Asia-Pacific, and Latin America are the five regions into which the global electroplating market has been divided. The region with the fastest predicted rate of growth in 2019 was Asia-Pacific, which predominated the local market. The South-East Asian economies are seen as being the clear drivers for the growth of the local market due to their expanding automobile manufacturing and robust hardware industry development.
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