[FURL=https://www.industryarc.com/Report/15894/electroplating-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Electroplating Market[/FURL] is forecast to reach $18.6 billion by 2025, growing at a CAGR 3.2% from 2020 to 2025. Electroplating is a process that uses an electrical current to deposit material on a workpiece. It is a method by which a thin layer of metal is deposited on a workpiece known as the substrate. The primary use of electroplating is to modify an object's physical properties. The change in the physical properties is done in order to provide the object with aesthetic appeal, increase wear resistance, increase thickness and provide protection against corrosion. Market growth can be attributed to the burgeoning demand for consumer goods made of metal. The increasing adoption of electroplating across different vertical industries, such as the automotive and aerospace industries and defense, among others, are other factors that contribute significantly to stimulating market growth.Key Takeaways
Factors contributing significantly to stimulating market growth are the increasing adoption of electroplating across various vertical industries, such as the automotive and aerospace industries and defense, among others.
Chrome reduces rust risk and improves the strength of the base material. By reducing friction to prolong the life of a machine, it offers elevated lubricity. Not only does chrome prevent wear on the machine, it also delivers extra performance. With a decreased risk of overheating, less friction implies smoother operation.
Electroplating allows manufacturers to use cheap metals such as steel or zinc for the majority of the product in machine parts and components, and then apply different metals on the outside to account for the appearance, protection and other properties required for the product of the machine. Without breaking the torque tolerance, electroplating can strengthen machinery parts and components.
The Asia-Pacific region is projected to hold a large market share in high consumer electronics production, coupled with rapid industrialization in major developing economies and the presence of a substantially large manufacturing sector in major countries such as China and India, among others.
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Electroplating Market Drivers
Growing Demand for Electroplating Applications in Automotive Industry
The automotive industry is one of the largest consumers of electroplating technology that utilizes all the zinc to gold electroplating process available.
Electroplating Market to 10 companies are Umicore, Diehl, Camellia, Aalberts Surface Treatment, Atotec, Interplex Industries, Kuntz Electroplating Inc., Interplex Industries Inc., Peninsula Metal Finishing Inc., Roy Metal Finishing, J & N Metal Products LLC, Allied Finishing Inc., Pioneer Metal Finishing (PMF)
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