Blog

Jul 12, 2023

Electroplating Market to Reach $27.2 Billion, Globally, by 2032 at 4.0% CAGR: Allied Market Research

News provided by 18 Aug, 2023, 10:01 ET Share this article The global electroplating market is experiencing growth due to increasing demand for electroplating from the automotive industry and an

News provided by

18 Aug, 2023, 10:01 ET

Share this article

The global electroplating market is experiencing growth due to increasing demand for electroplating from the automotive industry and an increase in demand for consumer electronics as electroplating is required for the uniform coating of metal surfaces in the production of electrical devices, components, and electronic products.

PORTLAND, Ore., Aug. 18, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Electroplating Market by Type (Gold, Silver, Copper, Platinum, Palladium, Rhodium, and Others.) by End-use (Automotive, Electrical and Electronics, Aerospace and Defense, Jewelry, Machinery Parts and Components, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global electroplating market was valued at $18.3 billion in 2022 and is projected to reach $27.2 billion by 2032, growing at a CAGR of 4.0% from 2023 to 2032.

The application of electrolytic cells which involves deposition of a thin layer of metal onto an electrically conductive surface is reffered to as electroplating. In electroplating practice, the anode is the positive electrode and cathode is the negative electrode. Electroplating enhances object surface qualities such as appearance, abrasion and corrosion resistance, reflectivity, lubricity, and electrical conductivity.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/45099

Prime determinants of growth

The global electroplating market is experiencing growth due to several factors such as increasing demand for electroplating from the automotive industry and an increase in demand for consumer electronics as electroplating is required for the uniform coating of metal surfaces in the production of electrical devices, components, and electronic products. However, the environmental issues related to the electroplating process hinder market growth to some extent. Moreover, increasing demand for sustainable electroplating solutions offers remunerative opportunities for the expansion of the Electroplating market.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$18.3 billion

Market Size in 2032

$27.2 billion

CAGR

4.0 %

No. of Pages in Report

240

Segments Covered

Type, End-Use, and Region.

Drivers

Increase in demand for electroplating in the automotive industry.

Increase in demand for consumer electronics

Opportunity

Sustainable Electroplating Solutions

Restraint

Environmental issues related to the electroplating process

Impact of Russia-Ukraine War on the Electroplating Market

The copper segment is expected to grow faster throughout the forecast period

Based on the type, the gold segment held the highest market share in 2022, accounting for around two-fifths of the global electroplating market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that gold electroplating finds extensive use in various industries. In electronics, it is utilized to coat connectors, circuit boards, and semiconductors for improved conductivity and reliability. In the jewelry industry, it enhances the appearance and durability of accessories. Moreover, gold-plated items are popular in the luxury market, offering an affordable alternative to solid gold products. However, the copper segment is projected to manifest the highest CAGR of 4.6% from 2023 to 2032. This can be attributed to the fact that copper electroplating is utilized for enhancing conductivity, preventing corrosion, and improving the object's appearance in various applications, such as electronics, automotive components, and decorative items.

Procure Complete Report (240 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3YJpLrh

The electrical and electronics segment is expected to lead the trial by 2032

Based on the end-use industry, the electrical and electronics segment held the highest market share in 2022, accounting for nearly one-third of the global electroplating market revenue and is likely to retain its dominance throughout the forecast period. This segment is also projected to manifest the highest CAGR of 4.5% from 2023 to 2032. This can be attributed to the fact electroplating plays a vital role in the electrical and electronics industry. It is commonly used to enhance the performance and durability of electrical components, such as connectors, switches, and printed circuit boards (PCBs). By applying a thin layer of metal through electroplating, these components gain improved conductivity, corrosion resistance, and solderability. Moreover, electroplating enables the production of precision parts with tight tolerances, ensuring consistent and reliable electrical connections.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global electroplating market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. In North America, the electroplating market is driven by several key factors that contribute to its growth and significance in various industries. Electroplating is a widely used surface finishing process that involves depositing a thin layer of metal onto a substrate to enhance its properties, such as corrosion resistance, conductivity, and appearance. The thriving manufacturing sector in the region is a major driver of the electroplating industry. North America has a robust manufacturing base across various sectors, including automotive, aerospace, electronics, and consumer goods. Electroplating is an integral part of manufacturing processes in these industries, where it is used to improve the quality and performance of components and products. The Asia-Pacific region is projected to manifest the highest CAGR of 4.5% from 2023 to 2032

Leading Market Players: -

The report provides a detailed analysis of these key players in the global electroplating market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:https://www.alliedmarketresearch.com/electroplating-market/purchase-options

Similar Reports:

Electronic Ceramics Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Electrochromic Glass Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Copper Foil Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

Copper Sulfate Market: Global Opportunity Analysis and Industry Forecast, 2021-2030

Copper Smelting Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

Palladium Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975[email protected]Web: www.alliedmarketresearch.comAllied Market Research Blog: https://blog.alliedmarketresearch.com Blog: https://www.newsguards.com/Follow Us on | Facebook | LinkedIn | YouTube |

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

SOURCE Allied Market Research