Electroplating Market is estimated to fuel at a CAGR of 2.91% over the forecast period
Electroplating is done to provide protection to metals in addition to giving them an aesthetic appeal. The market is expected to thrive owing to the extensive use of electroplating process across many industry verticals.
This report provides forecast and analysis of the electroplating market which is projected to grow with a CAGR of 2.91% to achieve a market size of USD15.513 billion by the end of 2025.
The market is expected to propel in the forecast period owing to the increasing demand for electroplating process in varied end-user industries. This is because of the fact that electroplating, defined as an electrodeposition process, involves surface engineering which is utilized for the deposition of metals over the other metal surface. The growing refurbished goods industry is expected to drive the market demand in the forecast period and in the upcoming years. The growing consumer electronics industry and growing automotive industry is further propelling the market growth in the forecast period. With the growing manufacturing sector, consumers demand for products having better metal finishing, hence, creating a huge market demand for electroplating during the forecast period. Furthermore, the booming electronics industry is further propagating the growth of the global electroplating market over the next five years.
However, the presence of environment-friendly alternatives for electroplating may pose a threat in hampering the market growth in the forecast period. On the basis of industry verticals, the automotive sector is expected to foresee a high market growth with the growing automotive industry, especially in the emerging economies of China and India. Also, with the favourable government initiatives supporting the growth of the automobile sector is further contributing to the market demand for electroplating. Furthermore, the growing popularity of electronic commodities is driving the demand for electroplated goods, propelling market growth during the forecast period. Hence, the electrical and electronics sector is also expected to grow with a high growth rate, burgeoning market growth as well.
Geographically, North America is expected to hold a significant market share followed by the European region. This is due to the presence of a large number of industries using the electroplating process, thus contributing to a greater market share. On the other hand, the Asia Pacific region is projected to be the fastest-growing where the electroplating industry is expected to grow with a high CAGR in the forecast period.
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Some of the major players covered as part of the report are Atotech Deutschland GmbH, Allied Finishing, and Birmingham Plating Co. Ltd.
This report segmented the electroplating market on the basis following terms:
By Type of Metal
By Type of Plating:
- Mass Plating
- Rack Plating
- Continuous Plating
- Line Plating
- Corrosion Protection
- Electrical and Electronics
By Industry Vertical:
- Electrical and Electronics
- Aerospace and Defense
- North America
- South America
- Middle East & Africa
- Saudi Arabia
- Asia Pacific
- South Korea
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