Electroplating Market Size, Share, Growth, Forecast 2032

Electroplating Market: Size

The global electroplating market size was worth around USD 20.03 billion in 2023 and is predicted to grow to around USD 28.40 billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.08% between 2024 and 2032.

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The report analyzes the global electroplating market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the electroplating industry.

Electroplating Market: Overview

Electroplating is a process that uses an electric current to deposit a thin layer of metal onto the surface of a workpiece. This technique is commonly used to improve corrosion resistance, enhance appearance, reduce friction, improve wear resistance, or restore dimensions to undersized parts. The workpiece to be plated acts as the cathode, while the metal to be deposited is the anode. Both are submerged in an electrolytic solution containing metal ions. When an electric current is passed through the solution, metal ions move from the anode to the cathode, forming a uniform metal coating on the workpiece.

The global electroplating market is expected to register a considerable growth rate over the forecast period. Electroplating is most commonly used for decorative purposes or to prevent corrosion of a metal. It is a process of plating one metal plate onto another by the technique of hydrolysis. Some of the specific types of electroplating are silver plating, copper plating, and chromium plating. Electroplating finds a variety of applications in electrical & electronics, machinery parts, automotive, and aerospace & defense industries. Heavy demand for electroplating from the electrical & electronics industry, especially in manufacturing of components in televisions, refrigerators, and air conditioners are expected to propel the growth of the electroplating market.

However, governments of several regions are imposing certain regulations on the electroplating process due to the emission of harmful chemicals & gases, which get released in the atmosphere. This factor is likely to hinder the market growth over the forecast years.

Electroplating Market: Growth Factors

Growth factors for the electroplating market include the rising demand from end-use industries such as automotive, electronics, aerospace, and jewelry. In the automotive industry, electroplating is used for decorative and protective finishes on parts and components. The electronics sector utilizes electroplating for circuit boards and connectors, where it improves conductivity and resistance to corrosion. Technological advancements, such as the development of environmentally friendly plating processes and improved plating materials, are driving market growth. Additionally, the increasing focus on sustainability and regulations aimed at reducing hazardous substances in manufacturing processes are influencing the adoption of more eco-friendly electroplating methods. The continued innovation in product design and material science also propels the need for advanced electroplating techniques to achieve specific performance characteristics and aesthetic qualities.

Electroplating Market: Segmentation

Based on the metal type, global electroplating market has been classified into gold, nickel, copper, silver, chromium, zinc, and others. The largest market share was held by the gold segment in 2023. This segment is expected to continue its dominance over the forecast period. Gold electroplating has applicationsthe especially in jewelry and others, including electrical connectors and printed board circuits. Growing demand for decorative metal finishing with gold along with rising disposable income is expected to fuel the demand for the segment over the forecast period.

On the basis of end-use industry, the global electroplating market is segmented into automotive, electrical & electronics, aerospace & defense, jewelry, machinery parts & components, and others. In the global electroplating market, the automotive segment accounted for the largest market share in 2023. This segment is expected to gain considerable traction in the forecast timeline owing to its utilization in automotive components for optimal protection against wear & corrosion. For instance, zinc-nickel plating has been widely used for advanced protection from excessive heat and corrosion resistance.

Electroplating Market: Report Scope

Electroplating Market: Regional Analysis

Based on the region, the global electroplating market has been segmented into Europe, North America, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific contributed to the largest market share in 2018 and is expected to show remarkable growth over the forecast period.

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Owing to the rising production facilities of various industrial sectors, especially in the electronics and semiconductors industry coupled with rapid urbanization, the demand for the market is expected to grow considerably in the region over the forecast years.

Electroplating Market: Competitive Analysis

• Superchem Finishers
• Metalor Technologies International SA
• Heimerle+meule GmbH
• Sharrets Plating Co. Inc.
• Peninsula Metal Finishing Inc.
• J&N Metal Products LLC
• Bajaj Electroplaters
• Roy Metal Finishing Inc.
• Pioneer Metal Finishing
• Kuntz Electroplating Inc.
• Interplex Holdings
• Pte. Ltd.
• Atotech Deutschland GmbH
• Allied Finishing Inc.

This report segments the global electroplating market as follows:

Global Electroplating Market: Metal Type Segment Analysis

• Gold
• Nickel
• Copper
• Silver 
• Chromium
• Zinc
• Others

Global Electroplating Market: End-Use Industry Segment Analysis

• Automotive
• Electrical & Electronics
• Aerospace & Defense
• Jewelry
• Machinery Parts & Components
• Others

Global Electroplating Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa