Electroplating Market Size, Share, and Industry Analysis, By Plating Metal (Silver, Gold, Chromium, Copper, Nickel, Zinc, and Others), By Function (Functional and Decorative), By End-use (Electrical & Electronics, Aerospace & Defense, Automotive, Jewelry, and Others), and Regional Forecast, 2024-2032

Electroplating is widely used in industries for corrosion protection, enhancing the appearance and durability of metal parts. It's a critical process in manufacturing electronics, providing conductive layers for electronic components. Additionally, electroplating is essential in the automotive industry for coating metal parts to improve resistance to wear and tear.

• The electroplating Industry is regulated under The Water (Prevention & Control of Pollution) Act, 1974, and The Hazardous Wastes (Management, Handling and Transboundary Movement) Rules, 2008. The effluent from the electroplating industry has to comply with the new norms notified under Sr. no. 9, Schedule 1, of The Environment (Protection) Act, 1986, which includes additional parameters of Aluminum, Tin, Silver, Fluorides, Phosphates, Sulphides, Sulphates, Trichloroethane, & Trichloroethylene, and air emission standards in the work zone area

Segmentation

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisition, and Partnerships


• Latest Technological Advancements


• Insights on Sustainability


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis by Plating Metal

By plating metal, the market is divided into silver, gold, chromium, copper, nickel, zinc, and others. The silver segment holds a significant share of the global electroplating market.  Silver electroplating is widely utilized in the electronics industry for its superior conductivity, enhancing the performance of electrical connectors and components. In the automotive sector, it's applied to improve the durability and corrosion resistance of various auto parts. Silver plating is also sought after in the renewable energy field to increase the efficiency of solar panels and wind turbines. Additionally, it is used in the aerospace industry for its anti-galling properties, protecting high-stress components from wear and tear.

Analysis by Function

By function, the market is classified into functional and decorative. The functional segment holds a significant share of the global electroplating market.  Functional segments in the electroplating market find applications in enhancing product durability, improving corrosion resistance, and adding aesthetic value to metals used in automotive, electronics, and aerospace industries. Additionally, these processes are critical for ensuring high-quality finishes in medical devices, where reliability and precision are paramount.

Analysis by End-use

By end-use, the market is divided into electrical & electronics, aerospace & defense, automotive, jewelry, and others. The electrical & electronics sector holds a significant share of the global electroplating market.

In the electroplating market, electrical and electronics segments find extensive applications, notably in improving corrosion resistance and enhancing electrical conductivity. This technology is pivotal in manufacturing printed circuit boards (PCBs), ensuring components have the required durability and performance. Additionally, it plays a critical role in the production of connectors and switches, where precise metal coatings are necessary for reliable operation. Electroplating also contributes to the aesthetic appeal of electronic devices by applying decorative and protective layers to casings and parts.

The aerospace & defense sector primarily drives the electroplating market. In the aerospace and defense sectors, Electroplating is key to enhancing the durability and corrosion resistance of critical components. It's used to apply precise coatings on parts, such as turbine blades and avionics systems, ensuring they can withstand extreme environments. Additionally, electroplating contributes to the longevity and reliability of military equipment by providing wear resistance to gear and weaponry.

The automotive sector also drives the electroplating market. In the automotive industry, electroplating is crucial for enhancing the durability, corrosion resistance, and aesthetic appeal of vehicle components. It is widely applied in plating parts, such as door handles, bumpers, and engine parts, to improve their longevity and performance. Additionally, electroplating is used in the production of electrical connectors and other critical components, ensuring they meet the high conductivity and wear-resistance requirements essential for automotive safety and efficiency.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, Asia Pacific dominated the crude oil market with approximately 39% share. The booming automotive and electronics industries in the Asia Pacific region, driven by the rising consumer demand and manufacturing hub expansion, are key driving factors for the electroplating market. Additionally, increasing investments in aerospace and defense sectors in countries, such as China and India support the market's growth.

Total vehicle production by region in the year 2023,

• Asia Pacific – 42%


• Europe- 26%


• North America - 21%


• Middle East & Africa- 7%


• Others- 4%

The major Electroplating manufacturers by region are China, Japan, and India in Asia Pacific; the U.S. & Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

• By value, total electronics production in China was USD 560 billion in the year 2023.


• In 2022, South Korea manufactured approximately USD 362 billion worth of electronic equipment in the year 2023.

Key Players Covered

The report includes the profiles of key players, such as Interplex Holdings Pte. Ltd., Roy Metal Finishing, Inc., J & N Metal Products, LLC, Allied Finishing, Inc., Bajaj Electroplaters, Allenchrome., TOHO ZINC CO., LTD., Precision Plating Co., and Klein Plating Works Inc.

Key Industry Developments

• In November 2023, Atotech announced that its strategic brands, ESI (laser systems) and Atotech (process chemicals), offer their combined product of leading manufacturing solutions for printed circuit board and package substrate production at Productronica in Munich, Germany.


• In January 2020, Pioneer Metal Finishing, backed by Aterian Investment Partners, expanded its footprint with the acquisition of Pilkington Metal Finishing.