The Global Electroplating Market Is Witnessing High Growth Owing To the Increasing Prevalence of Construction, Aerospace, and Defense Companies in the World

 

Electroplating Market

Electroplating Market, By Metal Type (Gold, Silver, Copper, Nickel, Chromium, Zinc, Others (Cadmium, Tin, etc.)), By End-use Industry (Automotive, Electrical & Electronics, Aerospace & Defence, Jewellery, Machinery Parts & Components, Others (Silverware, Optics, Home Appliance, Healthcare, etc.)), and By Region (North America, Latin America, Europe, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027.

Market Overview:

Electroplating is a process used to enhance the surface quality of an object. It can improve a variety of characteristics, including corrosion resistance and lubricity. This process is often used for enhancing the appearance of metals, such as gold and silver. Unlike chemical vapor deposition, which is used to add thin layers of metal to a surface, electroplating deposits a layer of metal directly on the substrate. This technique has many benefits, but it does require a lot of care and expertise. Electroplating consists of submerging the area to be plated, known as the cathode, in an electrolyte bath. The salts in the electrolyte are conductive to electric current, which then causes positively charged ions (cations) to move from the cathode to the negative electrode, and negatively charged ions (anions) to flow to the positive electrode.

Competitive Landscape:

Major players operating in the global Electroplating Market include Bajaj Electroplaters, J & N Metal Products LLC, Sharretts plating Co. Inc., Roy Metal Finishing, Pioneer Metal Finishing, Peninsula Metal Finishing Inc., Kuntz Electroplating Market Inc., Interplex Holdings Pte. Ltd., Atotech Deutschland GmbH, and Allied Finishing Inc.

Key Market Drivers:

The increasing incidence of sectors such as construction, aerospace, and defense is expected to augment the growth of the global Electroplating Market. For instance, according to the Associated General Contractors of America, there are more than 3787470 construction businesses in the United States currently. Various industries have begun using the electroplating process for improving and adding functionality to their products. This includes the aerospace, automotive, medical, and dental industries. It is also used for improving the lifespan of base materials. For instance, aircraft manufacturers use electroplating to improve the durability of their parts and make them more resistant to wear and tear. Similarly, medical equipment makers use the process to produce replacement joints and screws. Moreover, high advancements related to electroplating technologies are estimated to enhance the growth of the global electroplating market. 

Covid-19 Impact Analysis:

During the later phase of the COVID-19 pandemic, there have been several developments in the global Electroplating Market. For instance, in May 2022, SIFCO ASC introduced a new and advanced electroplating system, called the Advanced Solution Control System (ASCS).

Key Takeaways:

·       Europe is expected to dominate the growth of the global electroplating market, owing to the increasing prevalence of construction companies in the region. For instance, according to Building Radar, there are around 3 million construction companies in Europe.

·       The Asia Pacific is estimated to witness high growth in the global electroplating market, owing to the high incidence of aerospace and defense companies in the region. For instance, according to AmbitionBox, there are around 239 aerospace and defense companies in India.

 

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