Pune India, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the precious metal plating chemicals market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the precious metal plating chemicals market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the chemical base metal, product form, application and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global precious metal plating chemicals market are Heimerle + Meule GmbH, LTD,Shanxi Kaida Chemical Engineering Co.,ltd., METALOR Technologies SA, Riko Chemicals Pvt. Ltd., Heraeus Holding, MATSUDA SANGYO CO.,LTD., American Elements, Superchem Finishers, Uma Chemicals, JAPAN PURE CHEMICAL CO., LEGOR GROUP S.p.A., Johnson Matthey, Umicore, Technic Inc., Chemical Surface Treatment Technologies, SAXONIA Edelmetalle GmbH, Grauer & Weil (India) Limited, Micron Platers, Roberts Chemical Co., Inc., and Solar Applied Materials Technology Corporation among other. To achieve a substantial market share in the worldwide precious metal plating chemicals market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Precious metal plating chemicals are widely utilized in electroplating baths because of their excellent heat-shielding properties. They are a good option for high-temperature activities, therefore they find use in a variety of industries. The precious metal plating chemicals market is expected to grow significantly during the forecast period as a result of the superior attributes that these chemicals impart in the end product. The manufacturing and application of green metal plating chemicals have increased the demand for precious metal plating chemicals on a global scale. Due to the growing applications of metal plating in the electronics industry, the precious metal plating chemicals market has experienced tremendous growth. In addition, due to the widespread use of gold plating chemicals in the semiconductor industry, the precious metal plating chemicals market has also grown. These chemicals also act as catalysts in other chemical reactions, such as coating glass. They are employed for coating satellite thrusters and have a wide range of applications in the steel sector. These components have considerably contributed to the global market expansion for metal plating chemicals. Along with the aforementioned factors, new electroplating techniques and continuing research projects have fueled the market's growth. The rising use of these substances to coat polymers in the automotive industry has also boosted the market expansion for precious metal plating chemicals.
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Scope of Precious Metal Plating Chemicals Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Chemical Base Metal, Product Form, Application and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Heimerle + Meule GmbH, LTD,Shanxi Kaida Chemical Engineering Co.,ltd., METALOR Technologies SA, Riko Chemicals Pvt. Ltd., Heraeus Holding, MATSUDA SANGYO CO.,LTD., American Elements, Superchem Finishers, Uma Chemicals, JAPAN PURE CHEMICAL CO., LEGOR GROUP S.p.A., Johnson Matthey, Umicore, Technic Inc., Chemical Surface Treatment Technologies, SAXONIA Edelmetalle GmbH, Grauer & Weil (India) Limited, Micron Platers, Roberts Chemical Co., Inc., and Solar Applied Materials Technology Corporation among other |
Segmentation Analysis
The gold segment is expected to be the fastest-growing segment in 2022.
The chemical base metal segment is rhodium, gold, silver, platinum, palladium, and others. The gold segment is expected to witness the highest growth rate during the forecast period. Gold plating is used in jewelry applications because the gold-plated surface retains its beauty and brilliance over time. Gold is alloyed with different metals to provide a variety of color tones and improve the aesthetic appeal of products. For instance, intermediate coatings with strong corrosion resistance are routinely made using gold and silver alloys in the plated jewelry industry. The increment in price of pure gold and other precious metals causes a change in supply and demand for gold. The growing customer preference for purchasing plated jewelry as a more affordable alternative is predicted to drive the market during the forecast period since plated jewelry and related goods are less expensive than pure gold jewellery.
The jewelry segment is expected to be the fastest-growing segment in 2022.
The application segment is electrical and electronics, aerospace, medical device, jewelry, automotive, and hardware. The jewelry segment is expected to witness the highest growth rate during the forecast period. Demand for jewelry is expected to increase over the course of the forecast period as a result of rising disposable income and a growing young population in countries like India and the U.S. For instance, the amount of consumer disposable income in the United States increased dramatically from USD 16.54 trillion in the fourth quarter of 2019 to USD 17.26 trillion in the same quarter of 2020. The rising price of traditional jewelry, whether it be made of gold, silver, or platinum, is one of the factors driving the demand for plated jewelry.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the precious metal plating chemicals nclude the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. Young people in the area are becoming more interested in rich goods and fashion accessories as the popularity of plated jewelry among males, such as signet rings, thick bands, watches, bracelets, necklace chains, and cufflinks, increases. This is anticipated to assist the market's growth throughout the forecast period. Rising jewelry sales prompted by a surge in weddings in 2021, followed by a growth in young women's preference for jewelry that can be worn informally every day, contributed to the market's expansion. For instance, research by The Knot Worldwide in India indicated that 80% of marriages were delayed in July 2020, while a survey by LendingTree in the U.S. discovered that 63% of marriages were postponed in April 2020.
Country Analysis
- Germany
Germany's precious metal plating chemicals market size was valued at USD 0.006 billion in 2022 and is expected to reach USD 0.0064 billion by 2030, at a CAGR of 1% from 2023 to 2030. One important factor boosting market expansion is the growing usage of chemicals in a range of sectors. The need for precious metal plating chemicals in the region is also anticipated to grow as a result of evolving trends in the equipment of automotive and transportation components, rising demand from the aerospace industry, and expanding consumer acceptability of plating chemicals on plastic.
- China
China’s precious metal plating chemicals market size was valued at USD 0.014 billion in 2022 and is expected to reach USD 0.016 billion by 2030, at a CAGR of 2% from 2023 to 2030. The largest producer of automobiles worldwide is in China. As the nation focuses more on developing goods that will increase fuel economy and minimize emissions in response to growing environmental concerns brought on by the nation's rising pollution levels.
- India
India's precious metal plating chemicals market size was valued at USD 0.008 billion in 2022 and is expected to reach USD 0.009 billion by 2030, at a CAGR of 1.5% from 2023 to 2030. About 7% of India's GDP is provided by the auto industry (GDP). The EV market in the area might treble by 2030.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the precious metal plating chemicals market is mainly driven owing to the increasing population.
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