Industrial Electroplating Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Growth Forecast To 2027
Market Segmentation
The global industrial electroplating market has been
categorized on the basis of metal, type, end-use industry, and region.
By metal, the global market has been divided into
standard metals, precious metals, and alloys. The standard metals segment is
further categorized into tin, copper, zinc, chromium, and others. The precious
metals segment is further sub-segmented into gold, silver palladium, platinum,
and others. The standard metals segment held the largest share of the market in
2018, with copper being the most widely used metal owing to high electrical
conductivity. Additionally, it offers excellent corrosion resistance, which is
essential in heat transfer applications. Chromium plating is majorly used for
decorative applications in the automotive industry. The precious metals segment
is expected to exhibit high growth in the coming years on account of the rising
demand for gold and palladium in the electronics and automotive industries.
On the basis of type, the global electroplating
market has been classified into barrel plating (mass plating), rack plating,
continuous plating, line plating, and others. The barrel plating segment held
the largest market share owing to the high plating efficiency, lower equipment
cost than the other plating systems, and its ability to process a wide variety
of parts using the same equipment.
Based on end-use industry, the global electroplating
market has been categorized into automotive, electrical & electronics,
industrial machinery, jewelry, aerospace & defense, medical, and others.
The automotive industry is expected to be the leading segment during the
forecast period. This is mainly attributed to the widespread use of
electroplating to deliver corrosion resistant finished components as well as
enhance the appearance of the finished parts, such as under-the-hood
components, chassis hardware, power steering systems, brake systems, and many
others.
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Market Overview
The Global industrial electroplating Market is
projected to be valued at over USD 19.8 billion by the end of 2025 at a CAGR of
around 4% during the forecast period. The prominent factor favoring the growth
of the global market is the burgeoning demand for metal-plated components in
the automotive industry. Electroplating is the preferred process for
metal-plating in the automotive industry. Moreover, the surging demand for
metal-plated plastics in the manufacturing of various interior and exterior
automobile parts such as grilles, light bezels, wheels, emblems, door handles,
gear shift knobs, and bumpers is likely to propel the market growth during the
review period.
Competitive Analysis
The leading players in the global industrial electroplating Market are Precision Plating Co. (US), Atotech (Germany),
Sharretts Plating Company (US), TOHO ZINC CO., LTD (Japan), Dr.-Ing. Max
Schlötter GmbH & Co. KG (Germany), Summit Corporation of America (US),
Klein Plating Works, Inc (US), Jing Mei Industrial Ltd. (Hong Kong), Cherng Yi
Hsing Plastic Plating Factory Co., Ltd (China)Allied Finishing (US),
Allenchrome (England), and Sheen Electroplaters Pvt Ltd (India).
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