Electroplating Market Share Poised to Reach USD 18.97 Billion by 2030 Amidst Rising Automotive and Electronics Demand

The Electroplating Market Share is estimated to grow at a CAGR of 2.89 % from 2024 to 2030 (forecast period) to reach a value of USD 18.97 billion by 2030. With rising demand for improved durability, corrosion resistance, and appearance, this growth is being propelled by developments in industrial components.



Market Drivers & Opportunities for Market Growth

Electroplating is broadly found in the auto sector which enhances superficial appearance and surface quality of vehicle parts. Skincare Products and Workwear Driving Demand for Electroplated PartsGlobally, the automotive industry is witnessing a continuous increase in demand for vehicles, alongside rapid advancement in automotive technology, which in turn is increasing the demand for electroplated parts. The increased demand for electronic devices is driving electroplating to improve components like connectors and circuit boards, as they need to possess high conductivity and corrosion resistance. Moreover, this trend is likely to continue paving the market with lucrative opportunities.

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Segmentation Analysis

On the basis of the metal type, application, and region the electroplating market can be segmented as follows:

On the basis of Metal Type, the market is classified into gold, silver, copper, nickel and chromium. All these metals possess unique properties allowing them to be ideal for numerous applications in different sectors. While gold and silver are commonplace in electronics, nickel and chromium are used where corrosion resistance is key in the automotive industry.

Based on Application: Electroplating by Application are divided into Automotive, Electronics, Aerospace, Jewelry, Industrial Machinery and Others. In automotive field, it is used to improve the corrosion resistance as well as visual appearance of parts. In electronics, enhances conductivity and component durability. Aerospace sector is critically dependent on electroplating because its provides protection to high-value aerospace components from hostile environmental conditions.

Country-Level Analysis

Electroplating market in the U.S. is driven by strong automotive and aerospace sector The market growth is propelled by the continual investment towards the development of new research technologies in the field of electroplating. Other major factors promoting industry growth are the increasing demand for high performance coatings used in aerospace appications.

Germany: Being one of the largest automobile man-ufacturers, the requirement of electroplating services is a lot in Germany. India as the focus of high-end manufacturing processes lays a constant demand for electroplated parts also in the field of premium and high performance cars.

China — The rapid industrialization and electronics prowess of China has led to Electroplating being in heavy demand in the country. Market is further strengthened by initiatives taken by the government to boost the industrial sector. It continues to be a global centre of electroplated applications for consumer electronics and automotive production.

Japan is well known for its electronics and automotive industries and we utilize electroplating as a tool to ensure excellence in the quality and performance of its products. It is backed by the adoption of advanced electroplating techniques that is helping its efforts to boost the reliability and operational efficiency of electronic components.

India: The electroplating market in India is expected to grow significantly due to the automotive sector and expanding electronics manufacturing. The government initiatives that advocate for industrialization and local manufacturing are anticipated to boost the market growth further, especially with respect to emerging smart device production.

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Competitor Analysis

The electroplating market comprises some of the key players focusing on strategic movements to create a stronghold in the electroplating market — Here are some of the key players of the electroplating market:

Atotech — Surface Finishing Solutions based on technology and advanced science & engineering solutions (view more)Atotech is an international company that provides specialty chemicals, equipment, and services for printed circuit board, semiconductor, and surface-finishing solutions across multiple end-markets including electronics, automotive, and other industries. It has multi-country operations, and offers complete electroplating services. Atotech has continued to develop novel and advanced plating technologies and has recently made strategic positioning as a leading innovator in the sector.

SRG Global — innovator of electroplating solutions that provide high-quality coatings on plastics and metals for the automotive industry. It has high-tech development centres working on R&D based on better plating efficiency and environmental sustainability.

Coventya → A global provider of plating products and services, Coventya is one of the major players in the market of electroplating. With a focus on sustainability, the company provides eco-compatible coatings that meet stringent environmental regulations.

Metalor Technologies specializes in precious metal coatings and serves clients in the electronics and luxury-goods sectors. The firm has continued to grow its electroplating services to accommodate the increased interest in high-value applications.

Kuntz Electroplating: one of the biggest names in North America when it comes to automotive and motocycle finishing. The company is known for precision plating and a high degree of quality.

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Conclusion

The worldwide electroplating market is experiencing growth as the need for telecommunications equipment, automotive components and electronics continues to thrive. There are great opportunities for players in the industry, in particular through process development and technological improvements related to environmentally friendly processes. With leading players implementing advancements and increasing the reach of their operations, the electroplating market stands to gain ongoing development owing to the demand for servicing multiple industries all around the planet.

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