Electroplating is the process which involves surface engineering for the deposition of metals on another metal surface. Due to the growth being observed in automotive, and engineering industries, electroplating market is estimated to witness CAGR of 2.98% over the forecast period to reach US$14.217 billion in 2022, increasing from US$12.276 billion in 2017. The growth in the manufacturing industry, rising demand for consumer goods with good metal finishing, expanding demand for automobiles and aircraft, and surging electronics industry are some of the key market drivers. However, various governments are formulating regulations for the electroplating industry to keep a check on the harmful gases and chemicals released into the environment during the electroplating process, thereby restraining the market growth.
By Industry Verticals
The rising popularity of electronics products owing to ongoing product innovation coupled with technology adoption and demand for electrical devices drives the electroplating market growth. The manufacturing of electrical devices, components, and electronic products require the use of electroplating for coherently coating metal surfaces. Thus, by industry vertical, electronics and electrical segment is expected to grow at a high CAGR. Likewise, automotive industry segment is also expected to witness high growth. The growing adoption of electroplating by vendors to cover the vehicle’s body with the rust-proof and non-corrosive material is driving the automotive segment growth.
Europe accounted for a significant share of the global electroplating market in 2016 and is expected to grow a decent CAGR over the forecast period. The presence of a large number of industries utilizing electroplating within the region results in bigger market share. Asia Pacific region is expected to witness an upsurge in demand for electroplating in years ahead and is likely to grow at a high CAGR over the projected period. Rapid industrialization, especially in emerging economies is a key factor driving this growth. Moreover, the presence of low-cost skilled workforce is expected to attract international players within the region while enhancing opportunities for future growth.
The major players discussed in the report include Atotech Deutschland GmbH, Allied Finishing Inc., Peninsula Metal Finishing Inc., ASB Industries Inc., Kuntz Electroplating Inc., Interplex Industries Inc., Pioneer Metal Finishing, Birmingham Plating Co, Ltd., NiCoForm, Inc., and Metal Surfaces, Inc. Industry integration and partnership are some of the key strategies being adopted by players to enhance their market presence. Moreover, companies are focused on developing environment-friendly solutions by lowering emission and saving energy in order to gain a competitive edge.
Electroplating market has been segmented by type of metal, type of plating, application, industry vertical, and geography as below:
- By Type of Metal
- By Type of Plating
- Mass Plating
- Rack Plating
- Continuous Plating
- Line Plating
- By Application
- Corrosion Protection
- Electrical and Electronics
- By Industry Vertical
- Electrical and Electronics
- Aerospace and Defense
- By Geography
- North America
- South America
- Europe Middle East and Africa
- Middle East and Africa
- Asia Pacific
Key questions answered by the report
- What will be the Electroplating market size from 2017 to 2022?
- How are the major drivers and restraints affecting the global Electroplating market growth and the opportunities which exist for key vendors?
- Which segment and region will drive or lead the market growth and why?
- A comprehensive analysis of competitive landscape and key market participants’ behavior
- Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth