January 4, 2024
The global market for electroplating estimated at US$17.3 billion in the year 2022, is projected to reach a revised size of US$25.3 Billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8 per cent over the analysis period 2022-2030. Barrel plating, one of the segments analysed in the report, is projected to record 5.5 percent CAGR and reach US$10.7 Billion by the end of the analysis period. Growth in the Rack Plating segment is estimated at 4.3 per cent CAGR for the next eight-year period.
The global electroplating market is a dynamic industry characterised by various competitors vying for market share. In 2022, key competitors in this space held varying percentages of the market, as outlined in the report. Electroplating, a widely used surface finishing process, plays a crucial role in enhancing the durability, corrosion resistance, and appearance of metal and non-metal substrates. However, the electroplating market faced significant challenges in recent years, including the impact of the COVID-19 pandemic.
One noteworthy trend in the electroplating market is the increasing adoption of sustainable approaches to address environmental concerns related to traditional electroplating processes. Barrel plating, a subsegment of electroplating, is expected to exhibit significant growth due to its advantages in processing small, delicate, or complex parts in bulk. The automotive and electricals and electronics industries are the leading end-use sectors for electroplating, with a strong presence in the market.
Despite its advantages, electroplating has drawbacks, including environmental concerns and the need for strict compliance with regulations. A recent report by Research and Markets discusses specific end-use applications of electroplating, offering an in-depth analysis of the industry's evolution and recent market activity. Select global brands in the electroplating market are profiled, providing readers with a glimpse into the competitive landscape and key players shaping the industry.
The US Market is Estimated at $4.5 Billion, While China is Forecast to Grow at Seven per cent CAGR
Regional analysis indicates that developed markets such as the US and Europe have traditionally been major revenue contributors, while developing countries, particularly in Asia-Pacific, are experiencing rapid growth. The report also provides insights into metal finishing processes and technologies, highlighting the versatility of electroplating in various applications.
The Electroplating market in the U.S. is estimated at US$4.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2030 trailing a CAGR of 7 per cent over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1 per cent and 3.8 per cent respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4 per cent CAGR.
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