Electroplating Market Size, Share & Trends Analysis Report By Metal Type (Silver, Gold, Chromium), By Application (Solderability, Corrosion Resistance), By End Use (Electrical & Electronic Sector), By Region, And Segment Forecasts, 2023 To 2030

The electroplating market has witnessed significant growth in recent years, mainly due to its popularity in manufacturing automobiles and electronic products. Electroplating is preferred for its ability to improve the wear resistance and aesthetic appeal of the products, as well as provide protection against corrosion. The increasing demand for consumer goods made of metal has fueled the growth of the electroplating market, with the automotive and electronics industries being major consumers of the technology. For instance, Electroplating is a process used in the automotive industry to make trim, wheels, and grilles, among other parts that need to be highly durable and aesthetically pleasing. In the meantime, it's employed in the electronics sector to create connections, housings, and circuit board components that need to be highly electrically conductive, corrosion-resistant, and surface finish. A thin layer of metal is applied to a substrate during the process, giving the component the necessary characteristics.

An electric current is used to deposit a thin layer of metal onto a workpiece during the electroplating process. This process is frequently used to modify an object's physical characteristics such that it has better wear resistance, corrosion protection, greater thickness, and aesthetic appeal. Due to the increased demand for consumer goods made of metal, the electroplating market is expanding. The market is expanding significantly because of the expanding use of electroplating across numerous industries, including aerospace, automotive, and defense, among others.

The automotive industry uses electroplating extensively, including zinc and gold plating, as well as chrome plating for lightweight components. Palladium plating is used for catalytic converters due to its hydrogen-absorbing capabilities. To combat corrosion, manufacturers invest in electroplating facilities, as galvanizing is commonly used in component fabrication. Electroplating is vital for creating reliable and aesthetically pleasing automotive components. For instance, Techmetals provides electroplating solutions, including Electroless Nickel (EN), which enhances the resistance of components to corrosion and wear. EN can pass over 1,000 hours of salt spray testing, making it a reliable and effective solution for preventing corrosion in harsh environments.

The COVID-19 pandemic has had a significant impact on the electroplating market due to disruptions in the global supply chain. Many electroplating processes rely on imported materials and equipment, which have faced delays in delivery due to lockdowns and restrictions on international travel. The pandemic has also caused a decline in demand for electroplating services as many manufacturing plants have been forced to shut down, leading to reduced production of goods that require electroplating. Additionally, the decrease in consumer spending on luxury goods and automobiles, two major consumers of electroplating services, has further affected the market. For instance, the pandemic has resulted in a decrease in demand for mobile phones as the pandemic affected people in terms of a decrease in their income which eventually resulted in a decrease in demand for electroplated devices in mobile phones such as antennas, connectors, and speakers.

Asia Pacific is anticipated to have a significant increase in the manufacture of consumer electronics due to the fast industrialization of big developing nations and the presence of a sizable manufacturing sector. Large vehicle manufacturing plants in nations such as China, India, and Japan are also a major source of the region's substantial need for electroplating. Electroplating market growth is anticipated to pick up in the Asia Pacific region over the coming years as the area invests more in increasing production.

Electroplating Market Segmentation

• By Metal Type

  • Silver

  • Gold

  • Chromium

  • Copper

  • Nickel

  • Zinc

  • Others

• By Application

  • Solderability

  • Corrosion Resistance

  • Wear Resistance

  • Appearance

  • Others

• By End-use

  • Electrical & Electronic Sector

  • Jewelry Industry

  • Aerospace Sector

  • Defense Sector

  • Automotive Industry

  • Others

Key players

• KEI - Premium Plated & Painted Products.

• 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.

• Klein Plating Works, Inc.