According to the report, the global electroplating market was valued at $15 billion as of 2018 and it is estimated to grow with a healthy compound annual growth rate (CAGR) of 4% during the forecast period 2019-2025.The report is titled: “[URL=https://industryarc.com/PressRelease/977/Electroplating-Market-Research.html]Electroplating Market[/URL]: By Metal Type (Gold, silver, copper, nickel, chromium, zinc, and others); By Application (Corrosion Protection, Decorative Coating, Electrical applications, and others); By End Users (Automotive, electrical and electronics, Aerospace and defence, Jewellery, Machinery parts and components, Home appliance, and others) & Geographic Analysis - Forecast (2019-2025).”
Electroplating Market: Leading Segments
Electrical and electronics is the fastest growing application among all other electroplating applications in the electroplating market. It is evaluated to grow at a CAGR of 4% throughout the aforesaid foreseen period. India electronic market is one of the largest electronic markets in the world which is projected to reach $400 billion by 2020. According to the Consumer Electronics and Appliances Manufacturers Association report, the Indian Consumer Electronics Industry is estimated to grow with a CAGR of 9.5% during 2015-2021. This has contributed to the expanding usage of advanced electroplating for electronic products.
Zinc, silver, nickel metal, tin, and copper are the most commonly used raw materials in the electroplating process. Asia-Pacific occupied a dominating regional share of 40% in the global electroplating market in 2018.
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Electroplating Market: Growth Drivers And Disruptive Trends
Electroplating is predominantly used to enhance the resistance of any machinery or component to corrosion, in order to obtain an attractive product. Improved electrical conductivity, surface uniformity, and protection against surface abrasions offered by the electroplating chemicals are the key growth driving factors of the electroplating market.
Electroplating increase wears resistance of the substrate, build the thickness of a metal surface, prepare surfaces for superior adhesion before painting, and also helpful in reducing friction. This is the reason why Electroplating is extensively used in electronics, automobile, jewelry, airplanes, and toy industries.
There is a growing demand for electroplating services for the electronic products, electrical devices & components manufacturers, as these electroplating techniques offer coherent coating for metal surfaces of those products.
Electroplating Market: Competitive Landscape
Some of the key companies which are operating in the global electroplating market are Allied Finsihing Inc, Atotech Deutschland GmbH, Interplex Industries, Kuntz Electoplating Market Inc., Peninsula Metal Finishing, Pioneer Metal Finishing, Roy Metal Finishing, Sharretts Plating Co. Inc., J&N Metal Products LLC, and Bajaj Electroplaters.
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