Gold Plating Chemicals Market

2020 Analysis and Review: Gold Plating Chemicals Market by Application – Electronics, Jewelry, Infrared Reflectors and Radiators, and Gold Plating Products for 2020 - 2030

Introduction

The gold plating chemicals market is witnessing a temporary period of sluggish sales on account of supply-chain disruptions caused due to COVID-19 outbreak. The market is however expected to pick up in the next couple of years.

Growth will primarily remain steady for the most part of the forecast period 2020 and 2030. Future Market Insights (FMI) projects the market to exhibit 4.5% CAGR during this period. As a result of the rising demand from East Asia and North America, the market will continue witnessing lucrative growth opportunities.

Gold plating is usually done to give decorative and long-lasting finishes to jewelry, cutleries, optical frames, and various other types of surfaces. Gold is also one of the popular choices for plating different electronic components. For instance, gold plating chemicals are often used to coat connectors, circuits, and semiconductors.

Gold Plating in Electronic Manufacturing

Electronics manufacturing was growing steadily pre-COVID-19, and its likely to witness a recovery by latter half of 2021. Lucrative opportunities are at threshold especially since the demand for high-end electronics is significantly surging.

These electronics require specific design and engineering, proto-typing, and end-to-end lifecycle solutions. In response to the surging demand, most companies in the electronic sector have been investing in mass production.

It is important that these products appeal to consumers and have long life. Gold plating is often done on electronic parts to make them better resistant to corrosion. It also protects them against wear & tear and provides the remarkable ability to form thermocompression ponds.

Due to these properties, gold plating is also used in KCN, which is an indispensable element in the fabrication of electronic and microelectronic devices such as diodes, calculators, and transistors.

Most companies operating in the sector have a strong focus on commercialization. Hence there is immense focus on commitment towards high-performance and operational excellence, which inevitably fuels the demand for gold plating chemicals.

Focus on Product Development & Innovation

Market players in the electronics sector are channelizing their efforts through product development and innovations to establish a stronghold.

An electronic item is unlikely to demonstrate high-performance unless it is in-built with the latest technologies and high-resistant components. Gold plating chemicals are indispensable to achieve the latter.

Spurred by the aforementioned factors, the market is forecast to exhibit a steady pace of growth in the coming years. Also, it is likely to gain from improvement in consumer lifestyle, which will make them seek better performance in electronics and automobiles.

The market will also find lucrative prospects in the rising demand for precious metal plating chemicals. These chemicals are used in the electroplating bath for various metals such as gold, silver, and platinum.

Key Challenges

The electroplating process has often come under the scanner due to the emission of toxic compounds. To date, this remains one of the key challenges witnessed by gold plated chemicals suppliers.

While gold is not harmful to the environment, cyanide used for plating bath is highly toxic and is identified as one of the top 20 “high-priority” by the U.S. EPA. Cyanide can cause various side-effects in human, which is often regarded as a key challenge to the market.

Besides this, the market has been reeling under the threat of emerging alternate solutions and price rise for the last couple of years now. The demand for more economical solutions for electroplating has been consistently rising. This can hamper the growth of the market in the long run.

Region-wise Analysis

North America Gold Plating Chemicals Market

The demand for electroplating has remained consistently high in North America, thanks to the presence of booming electronics and semiconductors industries. The U.S. is expected to emerge as a lucrative market.

The perpetual need for upgrading their electronic items and appliance has been crucial to the demand for gold plating chemicals in the country.

Despite momentary slump due to ongoing pandemic, electronics sales in the U.S. are expected to pick up subsequently enabling gold plating chemicals sales. Another sector that will significantly contribute to the demand witnessed in the market is the aerospace and defense industry.

Modernization of equipment and focus on innovations will fuel demand for gold plating chemicals to ensure better performance and resistance of mechanic parts. Among various types, the demand for cleaning chemicals is expected to remain considerably high through the course of the forecast period.

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Europe Gold Plating Chemicals Market

In Europe, the market will witness impressive growth opportunities especially on account of the improved research and development focus in the manufacturing sector.

Spurred by steady demand from various sectors, the Europe market will exhibit a steady rate of growth through the course of the forecast period. In Europe too, the market is forecast to witness high demand for cleaning chemicals.

Germany will emerge as an exceptionally lucrative market for gold plated chemicals. The country helms Europe’s electronic landscape both in terms of production and sales. Experts even identify the country as epicenter for innovations in electronics & microtechnology.

In the coming years, the rate of innovation in Germany is likely to surge, in turn, paving way for the emergence of gold plating chemicals to the fore. Driven by these factors, the market will exhibit impressive growth in the Europe market.

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Asia Pacific Gold Plating Chemicals Market

Besides North America, East Asia has emerged as a highly lucrative market for gold plating chemicals. The bustling manufacturing sector of the region has been supporting the expansion of the market.

Also, rising willingness among consumers to spend on advanced electronic has been significantly contributing to the growth witnessed. China is expected to lead the landscape in East Asia.

Demand recorded in the last few years to a large extent was backed by rapid industrialization and the presence of a sophisticated manufacturing infrastructure. There is immense focus on research and development and constantly upgrading electronic designs. This to an extent is responsible for steadying growth of the market in East Asia.

South Asia & Pacific too offers attractive opportunities. FMI has identified the region as one of the fastest growing markets for gold plating chemicals. Besides the electronics segment, the region’s booming jewelry sector has been supporting the expansion of the market.

The demand for gold plated jewelry is significantly high in countries such as India and Bangladesh. Consumers in these countries exhibit particularly high fondness and fascination for donning gold-plated trinkets during festivities and celebrations.

The unique consumer behavior has invariably created a prosperous market for gold plating chemicals in the region. With gold prices skyrocketing, the demand for imitation and gold plated jewelry has gained significant momentum in the last few years.

With the craze for gold plated jewelry showing no signs of slowing down, FMI forecasts the South Asia & Pacific to remain a lucrative market through the course of the forecast period. 

Category-wise Insights

Type

The common types of gold plating chemicals used are cleaning chemicals, electrolyte solutions, additives, pre-treaters, and acids. The demand for cleaning chemicals is significantly higher than rest of the types.

Cleaning chemicals are used to remove almost any type of organic and inorganic impurities from substrate. It is one of the key reasons behind their high demand. The application of pre-treaters and additives too is forecast to rise in the coming years.

Additives find application for improving density, brightness, and resistance of electrolyte bath. FMI projects the segment to be as attractive as cleaning chemicals with regards to the rate of growth.

Chemicals

Potassium gold cyanide, sodium succinate, EDTA, palladium acetate, succinic acid among others are some of the commonly used gold plating chemicals. Of these, the demand for potassium gold cyanide is significantly high.

The segment is expected to account for the lion’s share of the market in terms of chemical through the forecast period. Owing to its increasing application in organic synthesis, gold mining, chemical gliding, and buffing, potassium gold cyanide accounts for nearly 4/5th of the total market share.

Application

Electronics, jewelry, infrared reflectors & radiators, and gold plated products are key segments exhibiting the demand for gold plated chemicals. Of these, accounting for nearly half of the market, electronics will remain the dominant segment through the course of the forecast period.

Gold plating chemicals are used to establish stable connects, improve thermal resistance, ensure better conductivity, and increased durability in electronic items. The demand from jewelry will rise as well, catapulting the segment to the second-leading position in the market.

Competitive Intelligence

The highly fragmented gold plating chemicals market is witnessing strong focus on commercialization among suppliers. They are focusing on the expansion of their product portfolio to gain competitive advantage.

Besides this, collaborations have remained one of the strategic moves adopted by the gold plating chemical suppliers to meet and exceed their growth targets. Most companies are aiming at operational excellent as such their immense emphasis on maintaining a strong track record.

JAPAN PURE CHEMICAL CO., LTD., one of the leading gold plating chemical suppliers has been consistently investing in research and development of new products and improvement of the existing ones.

With an aim of boosting sales of noble metal plating chemicals, the company has been actively engaged in improving existing noble metal plating chemicals and developing post-treatment and base metal plating chemicals.

Meanwhile, Johnson Matthey Plc has increased its investment into research and development to gain from cutting-end technologies for producing improved products as per customer requirements.

Gold Plating Chemicals Industry Report: Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

USD Million for value and Tons for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa

 

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa

Key Segments Covered

Type, Chemicals, Application, and Region

Key Companies Profiled

Johnson Matthey Plc, Technic Inc., Umicore, Legor Group Spa, Matsuda Sangyo Co., Ltd., METALOR, American Elements, Hiemerle + Meule GmbH

Report Coverage

Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives

 

Customization & Pricing

Available upon Request

Key Questions Answered by the Report

  • What is the gold plating chemicals market size?

    The gold plating chemicals market size estimated to be USD 406 million in 2020. The market is projected to expand at 4.5% CAGR between 2020 and 2030

  • Which is the largest market for gold plating chemicals ?

    Asia Pacific is the leading market, and will remain highly lucrative through the course of the forecast period.

  • Which are the top companies in gold plating chemicals market?

    Some of the top companies operating in the market are Johnson Matthey Plc, Technic Inc., Umicore, Legor Group Spa, Matsuda Sangyo Co., Ltd., METALOR, American Elements, Hiemerle + Meule GmbH

  • Where are the uses of gold plating chemicals?

    Gold plating chemicals are used to give a decorative finish to jewelries, optical frames, and cutleries. In industries these chemicals are commonly used in connector, semiconductor, and circuit applications.

  • What are the various types gold plating chemicals available?

    Some of the commonly used chemicals for gold plating are potassium gold cyanide, palladium acetate, sodium succinate, succinic acid, and EDTA.

  • What is the outlook on gold plating chemicals market?

    The demand from Asia Pacific will enable growth in the market in the coming years. China will remain a lucrative market for gold plating chemicals especially since the country has a well-established industrial infrastructure

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

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Key Segments

Chemicals

  • Potassium Gold Cyanide
  • Palladium Acetate
  • Sodium Succinate
  • Succinic Acid
  • EDTA
  • Others

Type

  • Cleaning Chemicals
  • Pre-Treaters
  • Electrolyte Solutions
  • Acids
  • Additives
  • Others

Application

  • Electronics
  • Printed Circuit Board
  • Connectors
  • Jewelry
  • Infrared Reflectors & Radar
  • Gold Plating Products
  • Others

Regional Outlook

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil, Rest of LATAM)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia, Rest of Europe)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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