Electroplating Market is expected to reach US$ 99,807.73 million by 2030

Asia Pacific Dominated Electroplating Market in 2022

According to our latest market study on “Electroplating Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Metal, Type, and End Use Industry,” the electroplating market size was valued at US$ 72,910.22 million in 2022 and is projected to reach US$ 99,807.73 million by 2030; it is anticipated to record a CAGR of 4.0% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

In 2022, Asia Pacific dominated the electroplating market. The electroplating market analysis in Asia Pacific comprises several developing economies such as China, India, Japan, South Korea, and Australia. The emerging countries are witnessing an upsurge in demand for electroplating due to rising urbanization, growing manufacturing industries coupled with increasing industrialization, and the rising impact of social media, which offers ample opportunities for key players in the electroplating market. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large metallurgy industries. Global players, including Cherng Yi Hsing Plastic Plating Factory Co., Ltd.; Toho Zinc Co., Ltd.; Jing Mei Industrial Limited; and others, are marketing their electroplating solutions in these countries. China is mainly dominating the regional market, followed by Japan, Taiwan, Vietnam, South Korea, Thailand, Malaysia, and Indonesia. The Chinese economy is flooded with manufacturing and assembly units of some of the major manufacturers of electroplating and metallurgy products. The rising production capacity of these products is creating a strong market presence. Additionally, China has the largest population in APAC, fueling the demand for smart vehicles, consumer electronics, transportation, and many other services and products, which drives the electroplating market growth in China. In China, low manufacturing and capital costs attract new investment and better opportunities for electroplating businesses in the country. China is considered to be the second-largest economy across the world and exhibits potential growth for the market in the forthcoming years. Manufacturing, energy, and electronic industries are leading in China and contributing heavily to the nation’s GDP. Manufacturing is the biggest industry in China, accounting for 46.8% of the country's GDP, which is attributed to China's intense investments in its heavy industries. The range of Chinese goods includes iron, steel, aluminum, textiles, cement, chemicals, toys, electronics, rail cars, ships, aircraft, and many other products. All these industries use a wide range of electroplating in their products and contribute to the growth of the electroplating market. Moreover, the manufacturing industry has led the economy of Japan and has been responsible for 90% of Japan’s exports. Rising awareness about the benefits offered by electroplating; growing safety concerns for electronics and vehicles; and multi-functional usage in the manufacturing, consumer electronics, aircraft & chopper, fighter planes, industrial electronics, and other industries boost the Japanese electroplating market. Japan has registered an increase in demand for electroplating due to the growing electronics industry along with increasing demand for electric vehicles. Japanese companies are the world leaders in the manufacturing of laptop computers, compact disc players, video cameras, fax machines, cell phones, photocopiers, and various key computer components. All these factors fuel the demand for electroplating solutions in this country.

Global Electroplating Market Breakdown – by Region

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Allenchrome Electroplating Ltd; Atotech; Dr.-Ing. Max Schlötter GmbH & Co. KG; Jing Mei Industrial Limited.; Klein Plating Works Inc; Precision Plating Company; Sharretts Plating Co., Inc.; Summit Corporation of America; Toho Zinc Co., Ltd; and Cherng Yi Hsing Plastic Plating Factory Co., Ltd are among the major players operating in the global electroplating market. Many market players are focused on developing high-quality, innovative product offerings to fulfill the customer’s requirements.

Impact of COVID-19 Pandemic on Global Electroplating Market

In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The COVID-19 outbreak disrupted the supply chain of key raw materials and hampered the electroplating market growth. The adverse effects of the pandemic on various end-use industries such as aerospace, automotive, and electronics reduced the demand for electroplating solutions from these industries across the world.

Various economies have started reviving their operations post COVID-19 pandemic. As a result, the demand for electroplating solutions has started increasing. The rising use of electroplating in end-use industries is expected to offer opportunities for the global electroplating market during the forecast period.

The global electroplating market report includes the segmentation of the as follows:

Based on metal, the market is segmented into gold, silver, copper, nickel, and others. By process, the market is segmented into barrel plating, rack plating, continuous plating, and line plating. Based on end-use industry, the market is segmented into automotive, electrical and electronics, aerospace and defense, medical, and others. By region, the global electroplating market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is further categorized into Australia, India, Japan, China, South Korea, and the Rest of Asia Pacific. The MEA market is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. Further, the global electroplating market in South & Central America is categorized into Brazil, Argentina, and the Rest of South & Central America.

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