The success of every commercial and industrial product, ranging from aero engines to airplanes, from electronic devices to surgical implants and from razor blades to racing cars; Relies on the application of surface engineering. Imagine a world without computers, airplanes, trains, cars, medical implants, buildings, mobile phones, electronic devices, in fact virtually no manufactured products. Electroplating is one of the process of surface engineering. Electroplating is the application of a metallic coating to an electrochemical process. It is a process that uses a coherent metal coating on an electrode. Electroplating is used primarily to improve the surface properties of an object (ie, abrasive and wear resistance, lubricity, corrosion protection, aesthetic qualities, etc.), but may also be used to build up thickness on undersized parts or to form objects by electroforming.
Over the years, developments in the chemical industry have made it possible to have a wide range of materials like osmium and platinum. Technological developments have enabled the use of electroplating processes in several end-use applications, including corrosion protection, decorative purposes, engineering applications and electrical applications. The electroplating market is an application driven market, which depends largely on the net output of the manufacturing industry. The electronics and electrical appliances industry is the largest end-use sector for the global electroplating market. Robust expansion of the industry industry and the rising demand for electronic devices are the growth of electroplating services in this sector. Electroplated products have become an indispensable part of the emerging fields such as micro and optoelectronics. In the electronics industry, electroplating services are preferred due to the low cost of electroplating in comparison to other technologies. The electroplating technology allows the use of electro-deposition of multiple layers as thin as one-millionth of a centimeter which makes it an indispensable part of the semiconductor industry. Rising demand for computing devices. Surging popularity of in-car safety and entertainment systems is projected to positively impact the demand for a range of electronics that require electroplating services.
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Electroplating Market: Drivers & Restraints
The main focus of the project is the development of a global market for electrical and electronic products.
Stringent environmental regulations as electroplating process is a polluting technique, growing popularity of advanced technologies such as electroless nickel-plating over-chrome electroplating will impede the growth of the global electroplating market.
Electroplating Market: Segmentation
The global electroplating market is broadly classified on the basis of applications, end-use industries and geographies.
Based on application , the global market is segmented into electroplating:
- Corrosion Protection
- Decorative Applications
- Electrical Applications
Based on end-use industries , the global market is segmented into electroplating:
- automotive
- Electronic and Electrical Appliances
- Aerospace and Defense
- Others
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Electroplating Market: Overview
The global electroplating market was dominated by Europe and US but now its gaining traction in the Asia-Pacific region; China, India, which is the world’s largest supplier of surface finishing services.
Rapid technological advancements and industrial development in developing economies provide a growth opportunity for the global electroplating market. Asia Pacific region will be able to make the most of its growth potential. Expansion in the region’s manufacturing industries and shifting of electroplating services and processes to Asian countries.
With rising automotive sales, growing semiconductor industry and increasing pressure on environmental concerns, the acceptance of electroplating technology is gaining popularity. The global electroplating market is expected to expand at a promising CAGR during the period (2015-2025).
Electroplating Market: Region-wise Outlook
The global electroplating market is expected to register a double-digit CAGR for the forecast period. North America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, Europe dominates the global electroplating market. Asia Pacific & Japan are projected to grow at a moderate pace. CAGR during the forecast period, 2015? 2025.
Electroplating Market: Key Players
Some of the key market participants in the global electroplating market are Allied Finishing Inc, Atotech Deutschland GmbH, Interplex Industries Inc, Kuntz Electroplating Inc, Peninsula Metal Finishing Inc, ASB Industries Inc, Deveco Corporation.
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