Asia Pacific Electroplating Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Metal, Type and End User Industry

Asia Pacific Electroplating Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Metal, Type and End User Industry

  • November 2020 •
  • 119 pages •
  • Report ID: 5999643 •
  • Format: PDF
The Asia Pacific electroplating market is expected to grow from US$ 5,080.42 million in 2019 to US$ 7,486.10 million by 2027; it is anticipated to grow at a CAGR of 5.1% from 2020 to 2027. Electroplating or galvanic electrodeposition involves creating a protective coating on a substrate, which offers resistance over corrosion and enhances the overall appearance of the product. Electric current is passed through a solution containing dissolved metal ions and the metal object to be plated. The process is used to plate or coat several ferrous and non-ferrous metal objects and plastics by using metals such as copper, tin, zinc, gold, palladium, platinum, silver, chromium, and aluminum.
In addition to the growing industrialization, the increasing disposable income of consumers is fueling the demand for electroplating across electronics, automotive, and jewelry industries.The automotive industry is experiencing rise in the demand for high-performance automobile components having excellent resistance to corrosion to enhance the appearance of exterior automobile parts—such as emblems, door handles, hood ornaments, and wheel rims.

The zinc-nickel electroplating is considered as one of the popular methods of electroplating in the automotive industry.The rapidly growing automotive industry is driving the demand for electroplating, and its continuous growth during the forecast period is attributed to the increasing production of automobiles.

In the electronics industry, electroplating is used in the manufacturing of electric transistors, electronic power switches, conductors and semiconductors, connectors, and computer components, among others. Hence, remarkable growth in the electronics and automotive industries offers lucrative opportunities for the electroplating service providers across various economies in Asia Pacific.
Based on end-user industry, the electroplating market in Asia Pacific is segmented into automotive, electrical and electronics, aerospace and defense, medical, and others.In 2019, the electrical and electronics segment held the largest share of the market.

Electroplating is one of the significant processes used for the production of electronic components as it enhances their life span, and improves resilience and electrical conductivity, along with offering resistance to corrosion and boosting the solderability of the component. Also, rising demand for televisions, washing machines, refrigerators, and other consumer electronics is driving the growth of the North America electroplating market.
At present, major countries in Asia Pacific are under lockdown due to the COVID-19 pandemic.The reduced production of goods and commodities is hampering the growth of the Asia Pacific electroplating market as there is continuous decline in the demand for these solutions since the past couple of months.

The measures taken to contain the spread of infection are likely to hinder the chemical and material industry in the region due to disruptions in supply and distribution chains. In addition, the restrictions on overall manufacturing processes, research, and development activities would restrain the market growth.
The overall Asia Pacific electroplating market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the Asia Pacific electroplating market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants typically associated with this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Asia Pacific electroplating market. Atotech; Allenchrome Electroplating Ltd; Dr.-Ing. Max Schlötter GmbH & Co. KG; Jing Mei Industrial Limited (JMI); Klein Plating Works Inc.; Toho Zinc Co., Ltd; and Cherng Yi Hsing Plastic Plating Factory Co., Ltd. are among the players operating in the market.
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