Electroplating Market Size, Share, Growth Analysis, By Type(Copper, Tin, Nickel, Zinc), By Application(Corrosion Resistance, Wear Resistance, Appearance, Solderability), By End-use(Automotive, Electrical & Electronics, Aerospace & Defense, Jewellery), By Region - Industry Forecast 2024-2031

Electroplating market was valued at USD 17.3 billion in 2022 and is poised to grow from USD 18.02 billion in 2023 to USD 25.01 billion by 2031, growing at a CAGR of 4.18% during the forecast period (2024-2031).

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.