USD 18.3 billion
Report ID:
SQMIG20D2074 |
Region:
Global |
Published Date: January, 2025
Pages:
157
|Tables:
101
|Figures:
68
Electroplating Market size was valued at USD 18.3 billion in 2023 and is poised to grow from USD 19.07 billion in 2024 to USD 26.5 billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).
The more electronic devices such as smartphones, IoT, and 5G infrastructures are deployed, the more critical the electroplating process gets in these deployments. Circuit boards, semiconductors, and connections are the most crucial aspects of electronic components improved by the process concerning conductivity, strength, and efficiency. As technology advances, the demand for smaller, reliable, and performance-based electronic components has grown, which has led to the increased usage of advanced electroplating techniques. These techniques provide exactly uniform coatings which meet the high-performance characteristics expected from the modern device. Thus, driving the global electroplating market forward.
Besides electronics, electroplating is a vital application in the health sector by ensuring the strength, quality, and performance of medical equipment. Electroplated coatings are used in surgical instruments, orthopedic implants, pacemakers, and dentistry equipment for enhanced corrosion resistance, biocompatibility, and longevity-all critical to patient safety and instrument performance. Apart from this, the global electroplating market growth is driven at a greater pace because electroplating technologies are constantly upgrading, selective plating, pulse plating, and eco-friendly. Process efficiency increases along with reducing waste material, while the manufacturers ensure to meet severe market requirements. Electroplating processes are widely adopted in consumer product, automotive, and aerospace segments. Automation with digital technology guarantees uniformity of results in the plating.
US Electroplating Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 18.3 billion
Largest Segment
Barrel Plating
Fastest Growth
Rack Plating
Growth Rate
4.2% CAGR
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Global Electroplating Market is segmented by Type, Function, End Use and region. Based on Type, the market is segmented into Pre-treatment Chemicals, Plating Chemicals and Post-treatment Chemicals. Based on Function, the market is segmented into Corrosion Protection, Decorative Coatings, Electrical Conductivity, Wear Resistance and Other Functions. Based on End Use, the market is segmented into Automotive, Electrical & Electronics, Renewable Energy, Jewellery, Machinery Parts & Components and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on the 2024 global electroplating market forecast, due to high efficiency and relatively low cost, especially for large batches of small items such as screws, nuts, washers, and other components, the barrel plating held the majority of market share. The parts are immersed in a rotating barrel filled with the plating solution to enable uniform plating of all the parts. The process is generally applied in the hardware, electronics, and automotive industries for long-lasting coatings for large numbers of small parts that need uniform application. Barrel plating is particularly useful for mass production since it provides a reliable means to enhance the parts' conductivity, corrosion resistance, and aesthetic appeal while reducing costs of operation.
As rack plating is capable of processing large, fragile, or complicated parts that should be handled carefully and with precision, its growth is predicted to be sharp. Individual parts are mounted on racks to be rack plated, ensuring an ideal electrical contact and a uniform coating. Ideal items subjected to this process are objects of high value and complicated structures like decorative parts, automobile parts, and aerospace parts. Rack plating is the choice for companies needing high accuracy as this method offers excellent finishes with constant quality coating. As requirements for highly complex, high-performance products grow, rack plating's ability to provide precise finishes will help in expanding its market share.
As per the 2024 global electroplating market analysis, the electrical & electronics segment captured 36.5% market share in the year 2024. This is boosted by the rising demand for quality, durable, and corrosion-resistant components in communication devices, semiconductors, and consumer electronics. Electroplating is required in circuit boards, connections, and microchips since it improves conductivity while offering protection against wear and environmental factors. The more electronic devices are demanded to be small and increased in complexity, the more the plating techniques require to be precise so that dependability and efficiency are achieved. In addition, modernized technology features of 5G, Internet of Things, and smart devices are popularizing electroplated component requirements in communication systems and intelligent devices. As electroplating improves the lifespan and efficiency of solar panels and the parts of the batteries, the sector benefits because of its important role in renewable energy systems. Its top market category status is further sealed by the rise in the usage of complex electronics across industries.
The automotive sector is growing significantly on account of a surge in electric vehicles, complex safety features, and lightweight products, which are driving the global electroplating industry. The primary purpose that electroplated coatings can give to automobile parts involves performance as well as lifespan enhancements. Applications regarding corrosion-resistant coating, friction-proofing characteristics for wear resistiveness, along with enhanced aesthetical outlook within connectors and on battery terminal-related components along with ornamental trimming and engine elements were applied as coating. Electroplating is also crucial for manufacturing strong, lightweight components that can sustain harsh conditions with the automobile industry moving towards greener solutions. The demand for parts that both look good and perform well on both conventional and electric cars will continue to push the growth of electroplating applications in the automobile industry.
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Asia-Pacific accounted for the greatest market share 30.3% in the year 2024. Asia-Pacific holds one of the highly developed manufacturing centers and vast markets for plated component in vital applications like automobiles and aerospace electronics; the region contains strong manufacturing power and an extended supply chain well supporting extensive electroplating undertakings. The countries within the region are using advanced technology to enhance the quality and efficiency of plating techniques in response to the need for high-performing and corrosion-resistant materials. This region was a strong hub in semiconductor and consumer electronic manufacturing. Thus, electronics was one of the strongest sectors driving demand. In addition, the growing penetration of electric vehicles is creating demand for electroplated components such as lightweight materials, battery connections, and terminals.
The rising use of electroplating in the automotive sector to improve corrosion resistance and aesthetic appeal of vehicle parts is propelling growth in the North America electroplating market. The demand is also being fueled by manufacturers' interest in using advanced plating methods to make EV batteries and parts more durable and efficient. Plug-in hybrids and BEV's made up 21.2% of sales of light-duty vehicles (LDVs) in the United States by the third quarter of 2024. The United States had it at only 19.1% as of the second quarter of 2024. Moreover, the critical components in the aerospace and military domain also used electroplating to achieve the required coatings, but as per the most stringent specifications.
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Electroplating Market Drivers
Rising Electronics and Automotive Needs
The need for durable and non-corroding, hence more attractive pieces of electronics and automobile industries continues to drive demand for electroplating. For these applications electroplating comes as a technology whose accuracy coupled with effectiveness would enable the correct positioning of desired ions that would work without causing effects to the surfaces where they might find themselves as ions. Thus, the growth in EVs along with sophisticated devices is further spurring the desire for high performing electroplated pieces.
Technology in Electroplating
The global market is expanding due to innovations such as selective plating, pulse plating, and environment-friendly methods. The innovations make it possible to maintain strict environmental regulations, improve process efficiency, and reduce waste. Electroplating is increasingly gaining attraction to industries in renewable energy, healthcare, and aerospace due to the fact that automated and digital technologies ensure constant results.
Electroplating Market Restraints
Strict Environmental Rules
Due to the generation of waste and utilization of harmful chemicals, electroplating is controlled by strict environmental regulations globally. The cost of such operating expenses increased in manufacturers while they followed regulations about safety and waste management. Smaller-sized companies may often face challenges, updating their policies according to those regulations, especially those that hold back their scale from entering newly found markets.
Excessive Cost Due to High Energy Consumption
Electroplating processes require massive amounts of energy for heating solutions and preserving process stability. Such increased operating expenses pose a challenge to manufacturers as energy costs grow day by day. Complementing this is the struggle to maintain sustainability, that requires companies to implement resource-saving technology to make operational costs balanced with environmental regulations. The biggest challenge the industry faces is the dual pressure on energy saving and cost cutting.
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Companies majorly focus on electroplating due to process efficiency, sustainability, and technology. The market leaders are big companies such as Atotech, BASF SE, Dow Inc., and DuPont. While big businesses continue to dominate, smaller producers do contribute by servicing niche markets. The eco-friendly expensive technology, automation, and partnerships that define the industry remain ahead of competition, to meet the wide changes that consumers and governments demand.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global electroplating market outlook is changing dramatically, driven by increased demand for sectors such as healthcare, electronics, automotive, and aerospace. Automation, environmentally friendly solutions, and innovations in plating processes have improved quality and efficiency while supporting sustainability objectives. Technological and material breakthroughs have been overcoming obstacles of strict environmental regulations and high energy prices for manufacturers. Due to increased usage in fast-growing sectors, such as 5G infrastructure and electric cars, the market is projected to increase even further. As major players invest in R&D, the electroplating sector is well-positioned to meet new customer requirements and new regulations, making it continue its relevance and growth in the global market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 18.3 billion |
Market size value in 2032 | USD 26.5 billion |
Growth Rate | 4.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electroplating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electroplating Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electroplating Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electroplating Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Electroplating Market size was valued at USD 18.02 Billion in 2023 and is poised to grow from USD 18.77 Billion in 2024 to USD 26.06 Billion by 2032, growing at a CAGR of 4.18% during the forecast period (2025-2032).
Key vendors in Electroplating Market are: 'Metalor Technologies International (Switzerland)', 'Heimerle + Meule (UK)', 'Sharretts Plating Company (US)', 'Peninsula Metal Finishing, Inc. (US)', 'Bajaj Electroplaters Inc. (India)', 'Roy Metal Finishing Co Inc (US)', 'Pioneer Metal Finishing (US)', 'Electro-Spec Inc. (US)', 'Precision Plating Company, Inc (US)', 'Jawaher Metal Factory Plating and Fabrication (Saudi Arabia)', 'Kuntz Electroplating, Inc. (US)', 'Roy Metal Finishing, Inc. (US)'.
The need for durable and non-corroding, hence more attractive pieces of electronics and automobile industries continues to drive demand for electroplating. For these applications electroplating comes as a technology whose accuracy coupled with effectiveness would enable the correct positioning of desired ions that would work without causing effects to the surfaces where they might find themselves as ions. Thus, the growth in EVs along with sophisticated devices is further spurring the desire for high performing electroplated pieces.
Focus on Sustainable Plating Options: A lot of the electroplating industries are now putting sustainability efforts to curtail their ability to affect nature. Hazardous compounds in certain materials are, therefore, now replaced by 'green' friendly ones such as trivalent chrome and water-based replacements. Allowing consumers to crave greener products, they help producers comply with environmental considerations. Companies stand a better prospect in an 'eco-friendly global market' along with meeting set global sustainability policies by embracing "green" philosophies.
Asia-Pacific accounted for the greatest market share 30.3% in the year 2024. Asia-Pacific holds one of the highly developed manufacturing centers and vast markets for plated component in vital applications like automobiles and aerospace electronics; the region contains strong manufacturing power and an extended supply chain well supporting extensive electroplating undertakings. The countries within the region are using advanced technology to enhance the quality and efficiency of plating techniques in response to the need for high-performing and corrosion-resistant materials. This region was a strong hub in semiconductor and consumer electronic manufacturing. Thus, electronics was one of the strongest sectors driving demand. In addition, the growing penetration of electric vehicles is creating demand for electroplated components such as lightweight materials, battery connections, and terminals.
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Report ID: SQMIG20D2074
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