Automotive industry

Electroplating Market: Rising Demand for Electroplating Applications in Automotive Industry to Drive Growth

Supplier Information

Electroplating market is fragmented and vendors are deploying various organic and inorganic growth strategies to compete in the market.

  • Aalberts NV – The company offers electroplating for ferrous castings, forgings, stampings, cold-formed parts and screw machine parts.
  • Bajaj Electroplating- The company offers different types of electroplating such as gold, copper, tin and others.
  • J and N Metal Products LLC – The company offers different types of electroplating, including anodizing, powder coating and others.

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Geographic Market Analysis

36% of the market growth will come from APAC during the forecast period. China, Indiaand Japan are the major electroplating markets in APAC. Market growth in this region will be faster than market growth in Europe. This market research report contains detailed information on competitive intelligence, marketing gaps and regional in-store opportunities for vendors which will help in creating effective business plans.

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Analysis of key segments

The growth of electroplating market share by automotive segment will be significant during the forecast period. Electroplating is primarily used in automotive components, exterior and interior panels, hard exterior trim systems, hard bumper systems, wheel systems, and under hood areas. Electroplating imparts excellent chemical resistance to automotive parts and extends the life of vehicles. Electroplating is used for passenger cars as well as commercial vehicles. The growth of this segment is also attributed to the increase in production of automobiles in emerging economies such as India and China. Automotive original equipment manufacturers manufacture different types of automotive components that require electroplating. The electroplating process is mainly used for hood parts and alloy surfaces as it protects them from damage caused by UV rays. All the factors mentioned above will lead to the growth of the segment and in turn the growth of the electroplating market over the forecast period.

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Key Market Drivers and Challenges

Growing Demand for Electroplating Applications in Automotive Industry to Drive Market:

The automotive industry is the largest end-user industry in the global electroplating market. The global automotive industry is witnessing significant growth and will continue to do so during the forecast period. Rising consumer disposable income in developing economies has boosted demand for automobiles. Several automakers are establishing their manufacturing plants in developing countries to meet this increased demand. All these factors will drive the market growth in the targeted market during the forecast period.

Rising Environmental Concerns to Hamper Market Growth:

With the rapid development of the electroplating market, environmental concerns about the electroplating process are increasing. Electroplating activities, including those associated with heavy metals and cyanide, can result in the release of toxic airborne toxins. In addition, unstable natural mixtures and toxic toxins released during degreasing and cleaning operations are harmful to humans. Such ecological concerns will hamper the growth of the market over the forecast period. Cyanide is an essential part of electroplating arrangements and it can negatively impact sensory systems, heart and lungs. Therefore, the sellers in the market must comply with the strict regulations imposed by various governments. Such factors may hinder the growth of the global electroplating market.

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Scope of the electroplating market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 6.70%

Market Growth 2022-2026

$5.55 billion

Market structure

Fragmented

Annual growth (%)

5.11

Regional analysis

APAC, North America, Europe, South America and MEA

Successful market contribution

APAC at 36%

Main consumer countries

China, United States, Germany, India, Japan, Canada, United Kingdom, Mexico and France

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Aalberts NV, Allied Finishing Inc., Atotech Deutschland GmbH, Bajaj Electroplaters, Birmingham Plating Co Ltd., J and N Metal Products LLC, Kuntz Electroplating Inc., METALOR Technologies SA, Peninsula Metal Finishing Inc. and Pioneer Metal Finishing LLC

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Customization overview

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