Electrical and Electronics Segment to Dominate North America Electroplating Market during 2020–2027
According to The Insight Partners market research study on “North America Electroplating Market Forecast to 2027 – COVID-19 Impact and Analysis – By Metal (Gold, Silver, Copper, Nickel and Others), Type (Barrel Plating, Rack Plating, Continuous Plating and Line Plating) and End User Industry (Automotive, Electrical and Electronics, Aerospace and Defense, Medical and Others)”, the market is expected to reach US$ 6,152.42 million by 2027 from US$ 4,369.35 million in 2019; it is estimated to grow at a CAGR of 4.5% from 2020 to 2027.
The electroplating market in North America is segmented into end user industry. Based on end-user industry, the market is segmented into automotive, electrical and electronics, aerospace and defense, medical and others. In 2019, the electrical and electronics segment held the largest share in the North America electroplating market. Electroplating is considered to be one of the significant processes used for production of electronic components in order to increase the life span of electronics along with improving resilience and electrical conductivity, offering resistance over corrosion and boosting the solderability of the component. Rising demand electronic components such as television, washing machine, refrigerators and other consumer electronics products are proliferating the growth of the North America electroplating market. Further, the growth of electronics industry across economies is expected to fuel market growth.
Atotech, Jing Mei Industrial Limited, Klein Plating Works Inc, Precision Plating Company, Sharretts Plating Co., Inc, Summit Corporation of America, and Cherng Yi Hsing Plastic Plating Factory Co., Ltd are among the leading companies in the North America electroplating market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Jing Mei Industrial (USA), Inc. (JMI-USA) announced the installation of injection molding and electroplating capabilities at its new plant in Thailand. Jing Mei Group (JMI), the parent company of JMI-USA, aimed to establish the capabilities online during the first quarter of 2020.
The report Segments the North America Electroplating Market as Follows:
North America Electroplating Market, by Metal
- Gold
- Silver
- Copper
- Nickel
- Others
North America Electroplating Market – by Type
- Barrel Plating
- Rack Plating
- Continuous Plating
- Line Plating
North America Electroplating Market – by End User Industry
- Automotive
- Electrical and Electronics
- Aerospace and Defense
- Medical
- Others
North America Electroplating Market – by Country
- US
- Canada
- Mexico