Electroplating – Gains Buoyed by Application Diversity
Essentiality of electroplating as an integral requirement in various critical industry components shows no signs of abating. Although profit margins for service providers is not sizeable, sustenance of electroplating industry is buoyed by the fact that application of the process is not confined to a certain industry, but pervasive. Growth remains abated by hidden moats in the industry, entailed by the occupancy of countless unorganized providers and small-scale end users.
Top 3 Factors Shaping the Electroplating Market
Innovative Disruptions Expected to Mold Prospects of Electroplating Market
The electroplating market has witnessed notable disruptions in the recent past, which range from nanotechnology and improved chemistry to dry procedures and non-metal substrates. Electroplating service providers have been eyeing nanotechnology for offering their customer with improved finishes, using technological methods at nanoscale levels – approximately 1-100 nanometers. Greater corrosion & wear resistance, and sturdy nature of nanocrystalline metals has contributed to the popularity of nanotechnology in metal finishing applications. Stringent government regulations and growing consumer demand have led the emphasis on eliminating hazardous substances used in electroplating processes, and non-metal substrates have been gaining robust momentum as they eliminate the problems associated with corrosion. Additionally, adoption of dry processes has emerged as a key trend in the electroplating market, as these are greener alternatives to wet procedures, and drastically curtail the use of hazardous chemicals while ebbing industrial waste.
Growing Focus on Safer Alternatives and Waste Management Techniques
The environmental footprint of the electroplating industry has been significant, which has led the players to focus on adoption of green chemicals, recycling and waste minimization techniques, and cleaner technologies, in a bid to keep up with the move toward sustainability. Recent years have seen electroplating market players shift their preference from organic cleaning agents to water-based counterparts, owing to toxic nature of the former. Additionally, the inclination of the industry toward non-metal substrates, including glass and plastic, in light of their superior durability and corrosion resistance, continues to favor growth of the electroplating market. Players in the electroplating market are focusing on management of hazardous waste from metal-containing sludge by sending it for metal recovery, to ensure toxic substances are not released into the environment. These players are also focusing on recycling of process baths post-concentration and filtration.
Growing Demand for High-Performance Coating in the Automotive Industry
Electroplating has prevailed as a particularly important process in the automotive industry, with rapid advancements in coating innovations aimed toward longevity and safety of components. The automotive industry is uncompromisingly demanding in terms of selecting appropriate coating elements, in a bid to offer optimal protection against wear and corrosion. For example, zinc-nickel plating has witnessed increased demand for applications involving excessive heat and corrosion resistance at minimum deposit thickness. High-performance coating of brake parts, fasteners and bolts used in the automotive industry have been key application areas of zinc-nickel plating.
Electroplating Market: Structure Analysis
- Leading players in the electroplating market are focusing on opportunities in the developed markets, while retaining their distribution networks across other regions. Nature of the electroplating market remains highly fragmented in nature, with the presence of numerous small and large players worldwide.
- Key companies in the electroplating market are focusing on geographical expansion via strategies such as collaboration with small players to cash in on their innovative products & services, along with investments in new process development.
Limited access to new technology, shortage of skilled labor, lack of knowledge associated with service distribution techniques, and management of environmental abuse of electroplating processes, continue to remain key concerns of players in the electroplating market. These factors also act as significant entry barriers to new players in the electroplating market.
Market to Grow at 1.5X between 2019 and 2029Advent of innovative disruptions in electroplating technologies, such as nanotechnology and dry plating methods, has meant that the efforts of industry players on ebbing their environmental footprint and improving waste management are being materialized.
Attractiveness of Asian Countries for Electroplating Service Providers Endures
Asia-Pacific excluding Japan (APEJ) will remain the highest contributor to shares of the electroplating market in 2019. Opportunities remain promising for service providers in countries such as China, India, and ASEAN, in line with remarkable growth in the electronics and automotive industries. However, demand will grow relatively stronger in India, with rising production facilities of various industrial sectors in the country.
* This data is only a representation. Actual data may vary and will be available in report.
The Broader Perspective
End-users continue to show marked preference for components electroplated with nickel and copper. Collectively, these two electroplating metals will account for over three-fifth sales.
Gold also remains a lucrative electroplating metal, upheld by its demand in decorative metal finishing – an upward trend
Hospitals remain the top end-user, with nearly 60% revenue share.
Electrical & Electronics – the most remunerative industry for service providers – will create an opportunity over US$ 5,600 Mn in 2019
Automotive industry also remains under the radar of electroplating service providers, as they uptake the growing requirement for high-performance coatings for critical auto components
How Growth will Unfold
Cost reduction and service improvement are key priorities of providers in the electroplating market, apart from the recent rise in emphasis on sustainability and waste management. The blend of fragmented and unorganized nature of the electroplating landscape is directing efforts of key players on authentic, quality offerings at competitive prices, abreast evolving demands from end-users.
Electricals & Electronics | Automotive | Aerospace & Defense
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Electroplating Market: Global Industry Analysis 2014–2018 and Opportunity Assessment 2019–2029
This research study by FMI (Future Market Insights) offers a ten-year forecast for the global electroplating market for the forecast period 2018-2029. To estimate the market value of electroplating, we have considered FY 2018 as the base year, and market values have been estimated keeping in mind the trends, driving factors, and key developments by key global electroplating market participants. The compound annual growth rate (CAGR) for the electroplating market has been derived for the forecast period of 2019 to 2029.
Electroplating Market Taxonomy
This global electroplating market report consists of around 21 sections that elaborate the market numbers in terms of value in US$ million, at regional and global levels.
By Metal Type
- Other (Cadmium, Tin, etc.)
By End-Use Industry
- Electrical & Electronics
- Aerospace & Defence
- Machinery Parts & Components
- Others (Silverware, Optics, Etc.)
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
The first section of the global electroplating market report covers an executive summary that highlights the key trends that are being witnessed in the global market from the manufacturers’ side as well as consumers’ side.
The section covers the global electroplating market introduction, including the taxonomy by metal type and end-use industry; definitions of the segments considered; and other information relevant to the global electroplating market.
This section covers various factors which can impact the market growth during the forecast period. The section discusses various factors along with their impact percentage on the electroplating market
This chapter offers a detailed pricing assessment of the electroplating market, along with key aspects impacting the pricing electroplating. In addition, analysis of the global pricing based on regions and metal type have also been included in this chapter.
Global value market is analyzed in this section, and various info graphics for historical as well as forecasted year has been provided. Global Y-O-Y growth trends are also analyzed in this section to provide the idea of market change throughout the forecast period.
In this section of the global electroplating market report, we have provided market viewpoints that include macroeconomic factors and value chain analysis, along with a list of raw material suppliers, and electroplating manufacturers, distributors, and end users.
This chapter gives a detailed assessment of the electroplating market by metal type. This section includes the analysis of historical as well as forecasted year market by each metal type segment. It also shows market attractiveness, Y-O-Y growth trend of each metal type segment of electroplating market
This chapter gives a detailed assessment of the electroplating market by End Use industry. This section includes the analysis of historical as well as forecasted year market by each End Use industry segment. It also shows market attractiveness, Y-O-Y growth trend of each End Use industry segment of electroplating market
This section of the global electroplating market report includes a global industry analysis by value, along with pricing analysis for North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa.
This section of the global electroplating market report includes a industry analysis by value, for China, India, and Mexico, for each segment considered
This section covers the overall market structure of the electroplating market, overall key players are classified into various tier structures, along with the market concentration, and market share analysis.
Each section of the electroplating market report includes a qualitative and quantitative assessment of the market on the basis of historical data and developments, and facts and key opinions collected from various end-use industry participants through primary interviews, annual reports, newsletters, press releases, etc. The report on the global electroplating market studies some of the major players in the electroplating market, such as Allied Finishing, Inc., Atotech Deutschland GMBH, Interplex Holdings Pte. Ltd, Kuntz Electroplating Inc., Pioneer Metal Finishing Inc., Roy Metal Finishing Inc., Bajaj Electroplaters, J & N Metal Products LLC, Peninsula Metal Finishing, Inc., and Sharretts Plating Co. Inc.
The initial stage of the research study includes the formulation of assumptions that are necessary for primary and secondary research. Further stages of research involve the triangulation of the data collected from these two approaches. To analyse the global electroplating market trends and opportunities for electroplating manufacturers, the market has been segmented on the basis of metal type, end-use industry, and region.
For the analysis of consumption, we have considered FY 2018 as the base year. Basic data was collected from manufacturers’ annual reports, newsletters, public reports published by government as well as private agencies, World Bank sources, etc. For final analysis of the market data, we considered demand-side as well as supply-side drivers and trends in various regional markets. We have forecasted the market data on the basis of key developments, regional trends, and production-consumption scenario of electroplating. For forecasting the market data, we have considered historic data for the period of 2014–2018.
Electroplating Market Reports - Table of Contents
3. Key Success Factors
20. Assumptions and Acronyms Used
21. Research Methodology