Global Electroplating Market

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 2025-2032


Report ID: SQMIG20D2074 | Region: Global | Published Date: October, 2024
Pages: 157 | Tables: 101 | Figures: 68

Electroplating Market Insights

Electroplating Market size was valued at USD 18.02 Billion in 2023 and is poised to grow from USD 18.77 Billion in 2024 to USD 26.06 Billion by 2032, growing at a CAGR of 4.18% during the forecast period (2025-2032).

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.

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FAQs

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).

The electroplating market is highly fragmented, with many small and medium-sized players dominating. These participants include various metal' electroplating services. Furthermore, B2B E-Commerce platforms and Supplier discovery platforms have increased the number of opportunities available to small and medium-sized businesses. To gain a significant market share, key players in the Electroplating market are employing strategies such as electroplating technology innovation, product launches, and mergers and acquisitions. 'Metalor Technologies International (Switzerland)', 'Heimerle + Meule (UK)', 'Sharretts Plating Company (US)', 'Peninsula Metal Finishing, Inc. (US)', 'Bajaj Electroplaters Inc. (India)', 'Roy Metal Finishing Co Inc (US)', 'Pioneer Metal Finishing (US)', 'Electro-Spec Inc. (US)', 'Precision Plating Company, Inc (US)', 'Jawaher Metal Factory Plating and Fabrication (Saudi Arabia)', 'Kuntz Electroplating, Inc. (US)', 'Roy Metal Finishing, Inc. (US)'

The aerospace and defence industries' increasing demand for electroplating for improved conductivity is expected to drive electroplating market growth. Electroplating is the best option for the aerospace and defence industries, which require less space-consuming but high-current-flowing-capacity substances. Electroplated busbar has a higher conductivity than ordinary cables and wires while taking up less space. Over the forecast year, these factors are expected to drive the Electroplating market.

The increasing production of automobiles necessitates electroplating for high-performance automobile components to maintain exceptional corrosion resistance and to improve the presentation of exterior automobile parts such as emblems, door handles, hood ornaments, and wheel rims.

The Asia Pacific region dominates the global electroplating market and is projected to maintain a similar trend over the forecast period. Due to rapid industrial growth in major emerging economies and the presence of sizable manufacturing industries in major countries such as China and India, among others, the Asia-Pacific region is expected to have a significant market share in high-end consumer technology production. Furthermore, large automobile manufacturing plants in China, India, and Japan are adding to the region's growing demand for electroplating. Increased investment in increasing production contributes to market growth in the Asia-Pacific region over the forecast period.

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Global Electroplating Market

Report ID: SQMIG20D2074

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