Report ID: SQMIG20D2074 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 101 | Figures: 68
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.
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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.
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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.
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Electroplating Market Driver
Aerospace and defence applications are driving up demand for electroplating
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.
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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
Electroplating Market Recent Developments
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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.
|Forecast period||2022 - 2028|
|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)|
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Parent Market Analysis
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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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Electroplating Market:
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