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 – that’s a world without surface engineering. Electroplating is one of the process of surface engineering. Electroplating is the application of a metal coating to a metallic or other conducting surface by an electrochemical process. It is a process that uses electric current to reduce dissolved metal cations so that they form a coherent metal coating on an electrode. Electroplating is primarily used to change the surface properties of an object (namely abrasion 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 chemical industry have made it possible to electroplate a wide range of materials like osmium and platinum. Technological developments have enabled 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 telecommunications industry and the rising demand for electronic devices are fuelling growth for 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 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 is expected to create significant market opportunities for electroplating service providers. Surging popularity of in-car safety and entertainment systems is projected to positively impact the demand for a range of electronics which require electroplating services.
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Electroplating Market: Drivers & Restraints
Growing net output of manufacturing industry, rising demand for consumer goods which mandates more surface finishing services, growing demand for automobiles and aircrafts and robust growth of the electronics industry are some of the key factors driving the growth of the global electroplating market.
Stringent environmental regulations as electroplating process is a polluting technique, growing popularity of advanced technologies such as electro less 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 electroplating market is segmented into:
- Corrosion Protection
- Decorative Applications
- Electrical Applications
Based on end-use industries, the global electroplating market is segmented into:
- Electronic and Electrical Appliances
- Aerospace and Defense
Electroplating Market: Overview
The global electroplating market was dominated by Europe and U.S. but now its gaining traction in the Asia-Pacific region; due to the increased demand for consumer goods in countries such as China & India, which mandates more surface finishing services.
Rapid technological advancements and industrial development in developing economies provide growth opportunity for the global electroplating market. Asia Pacific region will gain advantage from the ongoing trend of shifting production bases to low cost developing countries. Expansion in the region’s manufacturing industries and shifting of electroplating services and processes to Asian countries due to the advantage of low labor costs and highly skilled resource pool, will additionally increase the region’s footprint in the global arena.
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 forecast period (2015-2025).
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Electroplating Market: Region-wise Outlook
The global electroplating market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global electroplating market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, Europe dominated the global electroplating market in terms of market revenue followed by North America. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global electroplating market value exhibiting a robust CAGR during the forecast period, 2015?2025.
Electroplating Market: Key Players
Some of the key market participants in 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.