Europe Electroplating Market for Jewellery and Personal Goods Application - Segments by 2030

The Europe Electroplating Market for Jewellery and Personal Goods Application size is expected to grow from US$ 3.45 billion in 2022 to US$ 5.03 billion by 2030; it is estimated to register a CAGR of 4.8% from 2022 to 2030.

MARKET ANALYSIS

Electroplating is the process of coating metal or metal objects with a very thin layer of another metal by applying a direct electric current. This process uses electric current to reduce dissolved metal cations so as to develop a lean, coherent metal coating on the electrode. The electroplating process is highly utilized in the jewellery and personal goods industry to provide a shiny appearance to the products. Copper and nickel are used majorly for electroplating in the personal goods industry, whereas gold and silver play a major role in the electroplating process for jewellery.

GROWTH DRIVERS AND CHALLENGES

The primary reason that is driving the market is the high demand from various end-use industries. With the advent of electroplating, most of the manufacturers rely on comparatively cheap metals and later on electroplated with other metals to give better protection from corrosion. These factors have compelled manufacturers to uptake electroplating, thus making the Europe electroplating market expand. Also, the advent of innovations in electroplating technologies has meant that the efforts of industry players to curb their environmental footprint and improve waste management are being materialized. Moreover, various applications are beinefitted with several benefits of the electroplating process. Electroplating enhances appearance, electrical conductivity, protective barrier, and improves hardness. Plating exterior pieces with thin layers of precious metals makes them more lustrous and attractive to look at. Electroplating is also used to prevent tarnishing on silverware, thus improving longevity and aesthetic appearance over time. All these benefits of electroplating are boosting its adoption in the jewellery and personal goods industry. Therefore, the rising demand for electroplating from various end-use industries is propelling electroplating market for jewellery and personal goods application growth.

Further, several governments and authorities are imposing certain regulations on the electroplating industry to curb the emissions of harmful chemicals along with gases that are released into the atmosphere throughout the electroplating process. This is likely to hinder the growth of the Europe electroplating market for jewellery and personal goods application. The electroplating industry is constantly engaging with hazardous materials, which are harmful to humans as well as to the environment. The process of electroplating produces sludge, which further contains a high quantity of metals that should be classified as hazardous waste or should be subjected to metal recovery procedures. Sludge should be processed to ensure that toxins are not released into the environment, and the process baths should be recycled post-concentration and filtration. Thus, waste management is the most challenging aspect of the electroplating industry, making the electroplating industry growth uncertain.

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Europe Electroplating Market: Strategic Insights

Europe Electroplating Market

• Market Size 2022
  US$ 3.45 Billion
• Market Size 2030
  US$ 5.03 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• Europe

Market Segmentation

Metal

• Gold
• Silver
• Copper
• Nickel

Type

• Barrel Plating
• Rack Plating
• Continuous Plating
• Line Plating

Application

• Jewellery
• Personal Goods

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REPORT SEGMENTATION AND SCOPE

The "Europe electroplating market for jewellery and personal goods application " is segmented on the basis of metal, type, application, and country. Based on metal, the market is segmented into gold, silver, copper, nickel, and others. By type, the market is segmented into barrel plating, rack plating, continuous plating, and line plating. By application, the market is segmented into jewellery and personal goods. The personal goods segment is further sub-categorized into buckles, carabiners, kitchenware, eyeglass frames, tableware, and others. By country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe.

SEGMENTAL ANALYSIS

The market is segmented on the basis of metal, type, and application. Based on metal, the market is segmented into gold, silver, copper, nickel, and others. The copper segment held a significant share of the Europe electroplating market for jewellery and personal goods application in 2022. Copper plating increases the conductivity of a substrate, though copper is itself extremely conductive. However, silver is a more powerful metal for the conductivity of electricity. As a soft metal, copper is often malleable and thus has the inherent flexibility to maintain adhesion.

By type, the market is segmented into barrel plating, rack plating, continuous plating, and line plating. The rack plating segment dominates the Europe electroplating market for jewellery and personal goods application. In the rack plating process, the parts are put on a wire rack, allowing each part to come into physical contact with the power source. This method is more expensive and is better suited to more delicate parts that cannot undergo barrel plating. Rack plating is difficult for parts that are electrically sensitive or have an irregular shape.

By application, the market is segmented into jewellery and personal goods. The personal goods segment dominates the market. The personal goods segment is further sub-categorized into buckles, carabiners, kitchenware, eyeglass frames, tableware, and others. Electroplating is used for different types of personal goods, such as belt buckles, handbag chains, eyeglass frames, and tie clips. Electroplating helps increase the durability and improve the appearance of plated pieces. Adding a layer of the desired metal on different personal goods helps improve several physical, mechanical, and chemical properties of the substrate, including its strength, heat conductivity, electrical conductivity, corrosion resistance, and abrasion.

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REGIONAL ANALYSIS

The report provides a detailed overview of the Europe electroplating market for jewellery and personal goods application with respect to country. Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and Rest of Europe. Germany dominated the market in 2022. The electroplating market in Germany was valued at more than US$ 700 million in 2022. France is a second major contributor to the market in this region, accounting for more than 15% market share. The market in Italy is expected to register a significant CAGR from 2022 to 2030. There are various jewellery manufacturers in Italy. The Extraordinary Italian Jewellery project was launched in 2015. The promotional project aims to showcase the excellence of ‘Made in Italy’ products and create new business opportunities in the US. In the first quarter of 2023, the gold & jewellery industry’s performance in Italy set a promising tone for the sector’s growth prospects in domestic and global markets.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnerships, acquisitions, and new product launches are among the major strategies adopted by the players operating in the Europe electroplating market.

• In November 2023, Alleima AB, a global manufacturer of high-value-added products in advanced stainless steel and special alloys, announced a plan to expand its operations in Switzerland to meet the growing demand for plated components.
• In November 2023, Grand Venture Technology announced a plan to acquire surface treatment specialist ACP Metal Finishing for US$ 17 million.
• In July 2023, MKS Instruments announced the release of the Atotech CMA Closed-Loop System for alkaline zinc nickel plating. This technology is certified by TÜV Rheinland, which enables virtually wastewater-free operations while minimizing waste generation and reducing carbon footprint. This technology features compact membrane anodes, custom chemical additives, a vacuum evaporator, and a freezing unit. This results in a significantly reduced environmental impact, a longer lifespan, and enhanced product quality for the electroplating line.

IMPACT OF COVID-19 Pandemic

Before the COVID-19 pandemic, the market in Europe was mainly driven by its increasing use in various industries, such as personal goods and jewellery. Due to the COVID-19 pandemic in 2020, various industries had to slow down their operations due to disruptions in the value chain caused by restrictions on national and international boundaries. The pandemic introduced various economic challenges, hindering the growth of the Europe electroplating market for jewellery and personal goods application.

Disruptions in the supply chain due to the COVID-19 pandemic caused fluctuations in the prices of raw materials required for electroplating. Prices of different metals crashed amid the pandemic. In 2020, copper prices hit their lowest level since January 2016. In early 2020, the shutdown of production activities in the jewellery and personal goods industries due to the pandemic also reduced the demand for electroplating. Further, the electroplating market began reviving as governments of various countries in Europe took significant measures such as well-coordinated vaccination drives. The resumption of business activities in the personal goods and jewellery industries propelled the demand for electroplating services.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

A few of the key players operating in the Europe electroplating market for jewellery and personal goods application are ELIX Polymers SL, Dr Hesse GmbH & Cie KG, PRV Engineering Ltd, SAXONIA Galvanik GmbH, Karas Plating Ltd, Dr Ing Max Schlotter GmbH and Co KG, Atotech Deutschland GmbH & Co KG, Allenchrome Electroplating Ltd, Frost Electroplating Ltd, and UK Metal Finishing Ltd.

Europe Electroplating Report Scope