PUBLISHER: Market Research Future | PRODUCT CODE: 1619006
PUBLISHER: Market Research Future | PRODUCT CODE: 1619006
Global Electroplating Chemicals Market Research Report Information By Chemical Type (Pre-treatment Chemicals, Plating Chemicals, and Post-treatment Chemicals), By Function (Corrosion Protection, Decorative Coatings, Electrical Conductivity, Wear Resistance, Other Functions), By End-Use Industry (Automotive, Electrical & Electronics, Renewable Energy, Jewellery, Machinery Parts & Components, and Others) and By Region Forecast to 2032
In 2022, the market size of electroplating chemicals was estimated to be USD 9,398.23 million. The Electroplating Chemicals Market industry is anticipated to experience a compound annual growth rate (CAGR) of 4.6% from USD 9,830.83 million in 2023 to USD 14,794.04 million by 2032. This growth is expected to occur over the forecast period of 2024 to 2032. The electroplating procedure employs specialized solutions or electroplating chemicals to deposit a thin layer of metal onto a surface through electrochemical means. The object to be coated is submerged in a bath that contains a solution of metal ions and other chemical additives during this process. Metal ions from the solution are reduced and adsorb to the object's surface, resulting in the formation of a metal coating, when an electric current is transmitted through the solution.
The global electricity demand is anticipated to increase at a substantial rate in the coming years because of the increasing population, the accelerated development of urbanization, the expansion of infrastructure activities, and the improved accessibility to electricity. The power generation industry's stakeholders have been emphasizing the increase in the proportion of renewable energy sources in the global power generation balance as they pursue opportunities to reduce their carbon footprint. Consequently, the demand for electroplating chemicals is on the rise because of the increasing inclination toward renewable energy and the substantial application of the electroplating technique in this sector. Electroplating chemicals are essential to produce solar panels, which are one of the most frequently employed renewable energy technologies. This is because electroplating is typically employed in the production of photovoltaic cells, which are the primary component of solar panels. Additionally, electroplating chemicals are employed to apply protective coatings in the form of thin layers to photovoltaic modules in order to improve their durability. Another swiftly expanding sector in the renewable energy industry is wind energy, where electroplating chemicals are playing a large role.
Market segment insights
The Electroplating Chemicals Market has been segmented into Pre-treatment Chemicals, Plating Chemicals, and Post-treatment Chemicals based on chemical type.
The market is segmented into the following categories: Corrosion Protection, Decorative Coatings, Electrical Conductivity, Wear Resistance, and Other Functions.
The end-use industry is divided into the following segments: Automotive, Electrical & Electronics, Renewable Energy, Jewellery, Machinery Parts & Components, and Others.
Regional Perspectives
During the forecast period, the Asia-Pacific Electroplating Chemicals market is anticipated to account for a substantial revenue share and maintain the highest market share. The Asia-Pacific region has become a prominent player in the Electroplating Chemicals Market because of its status as a global manufacturing center. The region is a production hub, producing a diverse range of products that are significantly dependent on electroplating chemicals. Electroplating Chemicals are essential in a variety of manufacturing processes, including consumer electronics and automotive components. The region's substantial demand for Electroplating Chemicals is further bolstered by the sheer scope of production across multiple sectors, which further solidifies its market leadership.
Conventya, Schlotter, Uyemura, Hesse, Henkel, Kanigen, Chemetall, Ishihara, Technic, Umicore, JetChem, Houghton, Mosses Lake, KPM, Metalor, HSO, JPC, Meltex, Dipsol, Coral, Ato, Mac, Okuno, JASCO, Sutrec, PAVCO, JCU, Dow, and Columbia Chemical are among the key players in the Electroplating Chemicals Market.