Future Market Insights (FMI) in a new study predicts the electroplating market to exhibit 3.6% Y-o-Y growth in 2021. Electroplating has become a vital application in a number of industries such as electronics, automotive, and machinery parts & components, due to its indispensable characteristics of corrosion resistance.
Rapid industrialization, coupled with high disposable income in developing countries, is fuelling the demand in the automotive, electronics, and jewelry industry, which in turn has been creating opportunities for electroplating applications. According to the report, the global electroplating market is projected to rise at a CAGR of ~4.3% during the forecast period of 2021-2031, reaching a market value of ~US$ 25 Bn by 2031.
While the growth projections for electroplating market continues to be strong during the forecast period, the ongoing COVID-19 pandemic crisis is anticipated to cause a minor strain in demand. Closure of manufacturing units and supply chain networks due to shutdowns in a number of countries is expected to affect the consumption of Electroplating in key industries like electronics, automotive and aerospace & defense. However the market is expected to recover in year 2021.
Among various industries exhibiting demand, the automotive and electrical and electronics segment will continue accounting for the lion’s share. Of these, the automotive segment is expected to maintain dominance, accounting for above 34% of electroplating sales through 2031.
To know more about this market, request a sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-936
Key Takeaways from Electroplating Market Study
- Electroplating market will continue exhibiting growth after a temporary period of lull in 2020. It is likely to exhibit 4.3% CAGR between 2021 and 2031
- US holds 81.6% of North America market in 2021 and outlook remains positive
- UK will register a growth of 2.8% Y-o-Y in 2021
- Germany and France will continue exhibiting steady growth
- JAPAN and Korea will continue to be a bright spot, yet China will hold dominance in East Asia
“With small manufacturers eating into the market share, global players are looking into ways to improve margins by engaging in more B2C sales through collaboration with large scale end users”– says FMI analyst
Electroplating Market: Participant Insights
Key global players in the Electroplating market, like Atotech Deutschland GMBH, Interplex Holdings Pte. Ltd, Kuntz Electroplating Inc., Pioneer Metal Finishing Inc., Roy Metal Finishing Inc., are focused on establishing partnerships with automotive OEMs, machinery equipment providers and electronic companies to form long term supply contracts. Manufacturers also are focusing on innovations to gain competitive advantage. For instance, Fischer has launched an innovative laser technology to improve plastic electroplating.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-936
To Know More about Electroplating Market:
A recent market study published by Future Market Insights (FMI) on the global Electroplating market report offers insights into the consumption scenario of Electroplating on both global and regional level. The report analyses the Electroplating market demand through three segments – plating metal, substrate, function, and end-use, across six regions. The Electroplating report also offers key insights into key growth drivers by end use, major competitors across application, manufacturer margins, and import/export scenario, along with COVID impact analysis on the market demand trend.
About Chemicals & Materials division of FMI
The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward
Explore FMI’s Extensive Coverage on the Industrial Automation Domain
Heat Pumps Market: Future Market Insights (FMI) provides a deeper insights on the new trends of global heat pumps market while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade.
Heat Sealing Equipment Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides incisive coverage on the global heat sealing equipment market over the forecast period of 2021 and 2031. Additionally, to find the effect of COVID-19 on the heat sealing equipment market in general, the study monitor global heat sealing equipment sales in 20+ high-growth markets and addresses their end-user in particular.
Shell and Tube Heat Exchangers Market: ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors of global shell and tube heat exchangers market. The study offers detailed study on key trends that influence the demand for shell and tube heat exchangers. The report covers global demand in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global shell and heat exchangers market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights, 1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai, United Arab Emirates For Sales Enquiries: firstname.lastname@example.org For Media Enquiries: email@example.com Website: https://www.futuremarketinsights.com