(MENAFN- PR Newswire)
Increased
demand for metal plating applications in the automotive industry is fueling the market for electroplating, galvanizing, and anodizing equipment. The automotive industry is one of the largest consumers of metal plating technology, utilizing all zinc-to-gold metal plating equipment available.
WILMINGTON, Del., Aug. 9, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Commercial Metal Plating Equipment Market
by Equipment Type (Electroplating Systems, Anodizing Equipment, Galvanizing Lines, and Others), and End User (Automotive, Electronics, Aerospace, and Others) :
Global Opportunity Analysis and Industry Forecast, 2023–2032,"
According to the report, the commercial metal plating equipment market
was valued at $349.3 million in 2022 and is projected to reach $528.9 million by 2032, registering a CAGR of 4.3% from 2023 to 2032.
Prime determinants of growth
Commercial metal plating equipment provides numerous benefits, such as increased resistance to corrosion, wear, and scratches, enhanced electrical conductivity, reduced friction, uniform surface finish, and improved adhesion properties for painting or coating materials. The automotive industry is the primary user of electroplating services, followed closely by aviation, defense, electronics, household appliances, and jewelry sectors. As the need for durable metals grows and flexible assembly methods become more prevalent in industries like automotive, aerospace, defense, electrical, and electronics, the demand for commercial metal plating equipment is projected to rise. These tools are widely utilized in various industries for both technological and decorative purposes.
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Report coverage & details:
| Report Coverage
|
Details
|
| Forecast Period
|
2023–2032 |
| Base Year
|
2022 |
| Market Size in 2022 |
$349.3 Million |
| Market Size in 2032 |
$528.9 Million |
| CAGR
|
5.2
% |
| No. of Pages in Report
|
290 |
| Segments covered
|
Equipment type, End user, and region |
| Drivers
|
Increase in demand for commercial metal plating application in automotive Growth in demand for customized metal finishes Increase in demand for consumer electronics |
| Opportunities
|
Advancements in commercial metal plating technologies |
| Restraints
|
Concern regarding the environmental impact and health issues |
The electroplating systems segment maintains its leadership status throughout the forecast period .
By
equipment type, the
electroplating systems
segment held the highest market share in 2022, accounting for more than two-fifths of the
commercial metal plating equipment market
revenue and is estimated to maintain its leadership status throughout the forecast period. Many improvements and breakthroughs in electroplating have boosted the efficiency of pulse and pulse reverse techniques. Pulse plating generates electromagnetic pulses by cyclically switching the current on and off at varying intervals. This concept is taken a step further with pulse reverse plating, where the polarity of the electrical current is switched during each pulse cycle. The development of new electrolyte formulations has enhanced efficiency and eco-friendliness, broadening the scope of pulsed electroplating. Furthermore, the advancement of sophisticated process controllers and monitoring devices has allowed for precise management of electroplating parameters, ensuring consistent attainment of desired finish characteristics.
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The electronics segment maintains its leadership status throughout the forecast period .
By
end user, the
electronics
segment held the highest market share in 2022, accounting for nearly one-third of the
commercial metal plating equipment market
revenue and is estimated to maintain its leadership status throughout the forecast period. The growing need for compact electronic devices is driving the necessity for advanced plating techniques. Industrial metal plating equipment enables the precise deposition of thin layers on microelectronic components, facilitating the miniaturization and integration of electronic circuits and devices.
The Asia-Pacific maintains its leadership status throughout the forecast period .
By
region, the Asia-Pacific held the highest market share in 2022, accounting for around two-fifths of the
commercial metal plating equipment market
revenue and is estimated to maintain its leadership status throughout the forecast period. The metal plating market in the Asia-Pacific region is witnessing substantial growth, driven by several factors that are shaping the industry. A key driver is the thriving automotive and electronics sectors in the region. With the automotive industry expanding and electronics becoming an essential part of everyday life, there is a growing need for metal plating processes to enhance the durability, appearance, and performance of components and parts used in these sectors. Metal plating plays a vital role in providing corrosion resistance, improved conductivity, and aesthetic appeal to various metal components used in vehicles and electronic devices, thereby driving the market's growth.
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Top Players:
Technic Inc.
Progalvano S.r.l.
Chicago Plastic Systems
KOCH, LLC.
THE BRONX GROUP
Poliplast Ltd.
MKS Instruments, Inc
Germarel GmbH
Tri-Mer Corporation
SIFCO ASC
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.
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