Automotive
Global Electroplating Market Size, Share, Growth Analysis, By Type(Copper, Tin), By Application(Corrosion Resistance, Wear Resistance), By End-use(Automotive, Electrical & Electronics) - Industry Forecast 2024-2031
Report ID:
SQMIG20D2074 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
101 |
Figures:
68
Global Electroplating Market Insights
Electroplating market was valued at US$ 13.77 billion in 2019, and it is expected to reach a value of US$ 16.91 billion by 2031, at a CAGR of 3.31% over the forecast period (2024-2031).
Electroplating is a popular method for preventing corrosion on a variety of surfaces, including buildings, automobiles, and appliances. The metal coating acts as a protective barrier, preventing corrosion on the underlying substrate. The physical properties of the object are altered to improve its aesthetic value, increase wear resistance, increase thickness, and provide corrosion protection. The electroplating market is being driven by the increasing use of electroplating in the aerospace and defence sectors.
The expanding end-use industry is driving market expansion. Electroplating is widely used in industry for a wide range of technological and decorative applications. With the advent of Industry 4.0, R&D in metal finishing is increasing, as is demand for long-lasting metals with adaptable manufacturing processes, from automobiles to aerospace to jewellery and industrial equipment. Electroplating is critical in the automotive industry. The increase in demand for the automotive sector boosts demand for the electroplating market. Furthermore, electroplating transforms low-cost metals into higher-quality metals. The global electroplating industry is expanding into industries such as automotive, aircraft, electronic components, recreation, and agricultural production.
US Electroplating Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Largest Segment
Fastest Growth
Automotive
Growth Rate
3.31% CAGR
Global Electroplating Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Electroplating Market Size By End User, 2021-2028 ($ Bn)
Global Electroplating Market Size By End User, 2021-2028 (%)
To get more reports on the above market click here to Buy The Report
Global Electroplating Market Segmental Analysis
The Global Electroplating Market is segmented based on the Type, Application, End-use, and region. Based on the Type, the market is segmented into Copper, Tin, Nickel, Zinc, Chromium, Gold, Silver, Platinum, and Others. Based on the Application, the Electroplating Market is segmented into Corrosion Resistance, Wear Resistance, Appearance, Solderability, and Others. Based on the End use, the Electroplating Markett is segmented into Automotive, Electrical & Electronics, Aerospace & Defense, Jewellery, Industrial Machinery, and Others. Based on Region Electroplating Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Electroplating Market Analysis by End Use
Based on End use, The market is segmented into Automotive, Electrical & Electronics, Aerospace & Defense, Jewellery, Industrial Machinery, and Others. The Industrial Machinery segment of the global electroplating market is the fastest growing. The global cost of corrosion is estimated to be US$ 2,505 billion. Electroplating is used in machinery parts and components due to the benefits of corrosion prevention, highlighting appearance, and creating special features for the surface, such as increased electrical conductivity, durability, and surface hardness. Because of its improved friction and heat resistance properties, it increases the wear resistance of machine parts while also improving their operation. This prevents heat damage and extends the life of the components.
Global Electroplating Market By End User , 2021(%), 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Electroplating Market Regional Insights
The Asia Pacific region dominates the global electroplating market and is projected to maintain a similar trend over the forecast period. Due to rapid industrial growth in major emerging economies and the presence of sizable manufacturing industries in major countries such as China and India, among others, the Asia-Pacific region is expected to have a significant market share in high-end consumer technology production. Furthermore, large automobile manufacturing plants in China, India, and Japan are adding to the region's growing demand for electroplating. Increased investment in increasing production contributes to market growth in the Asia-Pacific region over the forecast period.
Global Electroplating Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Electroplating Market Dynamics
Electroplating Market Driver
Aerospace and defence applications are driving up demand for electroplating
- The aerospace and defence industries' increasing demand for electroplating for improved conductivity is expected to drive electroplating market growth. Electroplating is the best option for the aerospace and defence industries, which require less space-consuming but high-current-flowing-capacity substances. Electroplated busbar has a higher conductivity than ordinary cables and wires while taking up less space. Over the forecast year, these factors are expected to drive the Electroplating market.
Electroplating Market Restraint
Challenges In the Waste Management
The most challenging aspect of the electroplating industry is waste management. The electroplating industry consumes and emits large amounts of wastewater. Pollution problems are caused by the use of various chemicals and metal salt. Significant pollution from rinse water, spray losses, and solution dumping and leakages. In wastewater, valuable metals and cyanide, as well as other chemicals, are lost. The amount could range between 2 and 20% of the chemicals used. As a result, greater efforts will be required to reduce pollution problems. The effluent concentration is affected by a variety of factors such as surface area, article shape, solution thickness, removal speed, and drain time. The main components of these wastes are acids used for pickling and cleaning, alkaline cleaners and others. This effluent is considered to be the most dangerous because it contains heavy metallic ions such as nickel, chromium, zinc, lead, silver, cadmium, mercury, and others, as well as toxic cyanides, hydrogen sulphides, ammonia, and chloramines. These factors are creating a massive challenge in the electroplating market.
Request Free Customization of this report to help us to meet your business objectives.
Global Electroplating Market Competitive Landscape
The electroplating market is highly fragmented, with many small and medium-sized players dominating. These participants include various metal' electroplating services. Furthermore, B2B E-Commerce platforms and Supplier discovery platforms have increased the number of opportunities available to small and medium-sized businesses. To gain a significant market share, key players in the Electroplating market are employing strategies such as electroplating technology innovation, product launches, and mergers and acquisitions.
Electroplating Market Top Player's Company Profiles
- 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)
Electroplating Market Recent Developments
- In May 2022, SIFCO ASC has introduced a mobile all-in-one plating system. SIFCO ASC's Advanced Solution Control System is a new portable all-in-one plating system with dripless technology (ASCS). This electroplating technology piece is completely portable, allowing it to be brought directly to the part or component in question. Lowering ergonomic risk will provide significant safety benefits to operators and employees in addition to improving throughput and productivity.
- In March 2022, S+S Industries has announced plans to expand into a new facility in Southeast Houston, making it the world's largest busbar plating company by capacity. S+S' warehousing capacity will also be significantly increased, enhancing its ability to serve as a hub-and-spoke distribution system, lowering customers' shipping and storage costs. The new facility will increase each customer's inventory space allowance from six months to nearly a year.
- In October 2021, Valence Surface Technologies LLC (Blairsville, Pennsylvania) announced the acquisition of H&W Global Industries Inc. (Blairsville, Pennsylvania), a North American Northeast provider of surface treatment for highly engineered products. H&W provides surface treatment to some of the most advanced defence platforms in the United States and maintains critical approvals with key A&D primes like Northrop Grumman.
Global Electroplating Key Market Trends
- The increasing production of automobiles necessitates electroplating for high-performance automobile components to maintain exceptional corrosion resistance and to improve the presentation of exterior automobile parts such as emblems, door handles, hood ornaments, and wheel rims.
- Durable metals and versatile manufacturing processes are in high demand for a wide range of applications in the automotive, aerospace, defence, and electrical and electronics industries.
Global Electroplating Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Electroplating market analysis, the growing demand for automobiles drives up demand for the electroplating market. Additionally, electroplating converts low-cost metals into higher-quality metals. Automotive, aircraft, electronic components, recreation, and agricultural production are all part of the global electroplating industry's expansion. Region-wise, Asia Pacific dominates the market. Low labour costs and readily available labour in countries such as China and India have contributed to the region's busbar electroplating market growth over the forecasted period.
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Electroplating Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Electroplating Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global 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 Global 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 Global Electroplating Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Global Electroplating Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
