Electroplating Market Report: Size, Share and Outlook by 2030

The electroplating industry is projected to expand significantly, with its market size anticipated to rise from US$ 72,910.22 million in 2022 to US$ 99,807.73 million by 2030. This growth represents a compound annual growth rate (CAGR) of 4.0% over the forecast period from 2022 to 2030.

One of the key drivers of this market growth is the increasing adoption of plating on plastic, spurred by advancements in technology. The innovative applications of plating on plastics are proving to be beneficial across various sectors, particularly in the automotive and electronics industries. The automotive sector, in particular, is witnessing a surge in demand for plastic plating due to its advantages, including lightweight properties, cost efficiency, and resistance to corrosion. As a result, the growing use of plating on plastic is expected to significantly contribute to the market's expansion during the forecast period.

Moreover, the automotive industry is increasingly utilizing plastics to achieve lighter vehicle designs. The rise in popularity of plastic composites necessitates the plating of these materials with metals to enhance their aesthetic appeal, improve material quality, and provide electrical conductivity to otherwise non-conductive plastic surfaces. There are primarily two techniques for plating plastics: the first involves roughening the plastic surface to facilitate metal adhesion, followed by electroplating to build up metal layers. This method is known as electroless, auto-catalytic, or chemical plating. The second technique involves applying a conductive paint to the plastic before electroplating it. The contributions of global market players in the plastic plating sector are also noteworthy. For instance, DuPont is recognized for its high-performance, environmentally friendly plating solutions for plastic surfaces. With decades of experience in surface preparation and a commitment to innovative technology, DuPont is at the forefront of developing value-added products and processes for plastic plating.

The global electroplating market is categorized by application into several segments, including automotive, electrical & electronics, aerospace & defense, medical, and others. Among these, the electrical & electronics segment held the largest market share in 2022. This industry heavily relies on electroplating service providers to enhance product longevity and durability. Electroplating is essential in the electrical and electronics sector, where both precious and non-precious plated components are utilized for various applications. These processes improve critical characteristics such as solderability, wear resistance, corrosion resistance, and electrical conductivity of electronic components. Consequently, manufacturers in this field are compelled to employ electroplating techniques to coat their products effectively.

Geographically, the global electroplating market is divided into regions, including North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2022, the Asia Pacific region dominated the global electroplating market share. Europe also represents a significant market for electroplating, with increasing demand for various electroplating methods such as barrel plating, rack plating, continuous plating, and line plating, particularly in countries like Germany, France, and the UK. The steady growth of industries such as automotive, electrical and electronics, aerospace & defense, and medical has positively impacted the electroplating market in Europe. Industries in this region are increasingly adopting metal coating processes due to their beneficial properties, which include abrasion and corrosion resistance, lubricity, reflectivity, electrical conductivity, and enhanced appearance. Additionally, electroplating can alter several characteristics of an object, such as conductivity, hardness, resistance, brittleness, and luster. By electroplating a metal surface, components can acquire advantageous traits from the metal being applied to the substrate.

Key players in the global electroplating market include Allenchrome Electroplating Ltd, Atotech, Dr.-Ing. Max Schl?tter GmbH & Co. KG, Jing Mei Industrial Limited, Klein Plating Works Inc, Precision Plating Company, Sharretts Plating Co., Inc., Summit Corporation of America, Toho Zinc Co., Ltd, and Cherng Yi Hsing Plastic Plating Factory Co., Ltd. These companies are focused on delivering high-quality products to meet customer demands.

The overall size of the global electroplating market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the electroplating market.