Electroplating Chemicals Market: Introduction
Electroplating is a surface coating method used to coat the surface of one metal (or alloy) with one or two metals (or alloys) by passing electricity between two electrodes immersed in an electrolytic solution where one of the electrodes is the substrate to be plated. The electrolyte solution contains the metal ions of the metal that is to be used as the coating. When the electric current is passed, the metal atoms (or ions) in the electrolyte solution get deposited on the substrate, forming a thin layer. The chemicals used in the electroplating process are known as electroplating chemicals. These include electrolyte solutions, sealers, passivates, cleaners and pre- and post-treatment electroplating chemicals, to name a few. Passivates make the substrate inactive to any further chemical reaction, avoiding oxidation and corrosion reactions.
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Electroplating chemicals are used to clean, coat and engrave metallic surfaces. Electroplating chemicals enhance the physical appearance of metals. Along with that, electroplating chemicals also alter the metals’ corrosion resistance, electric and wear resistance and tarnish resistance and electric conductivity. Electroplating chemicals often contain additives that brighten and/or enhance the uniformity of the plating metal while influencing the corrosion resistance. The most widely use electroplated metals include iron, nickel, copper, zinc, gold and silver. Aluminum, stainless steel, lead and magnesium have limited applications as these are difficult to electroplate.
Electroplating Chemicals Market: Dynamics
The electroplating chemicals market is highly driven by demand from the electrical and electronics industry. Along with this, electroplating chemicals have been witnessing high demand from automotive and aerospace industries as well. Automotive and especially aerospace are expected to experience fast paced growth and hence, are driving the electroplating chemicals market. Along with being used in the production of printed circuit boards in combination with other electronic devices, electroplating chemicals are also used to enhance the anti-corrosion properties of metals used in automotive and aerospace industries. Heavy industrial machinery and transportation equipment also demand for electroplated metals and thus, drive the demand for electroplating chemicals to some extent. As electroplating helps increase the service life of metals, the demand for electroplating chemicals is slated to increase throughout the forecast period.
However, electroplating chemicals are considered to be the most toxic among all. Considering the increasing awareness regarding health and safety, environmental policies may affect the growth of the electroplating chemicals market globally.
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Electroplating Chemicals Market: Regional Outlook
On the basis of region, electroplating chemicals witness high demand from North America with the United States of America exhibiting heavy demand from electrical & electronics and aerospace industries. Europe is also registering high demand for electroplating chemicals due to the growth of the automotive and manufacturing sectors in the region. The Asia Pacific electroplating chemicals market is expected to grow at the fastest rate, owing to the growth in population and disposable income in this region. Latin American and Middle East and African electroplating chemicals markets are pegged to grow at moderate rates throughout the forecast period.
Electroplating Chemicals Market: Market Participants
Examples of some of the market participants in the global electroplating chemicals market identified across the value chain include Sun Glo Plating Company, Mahavir Expochem Ltd., Rishi Chemical Works Pvt. Ltd., Grauer & Weil (India) Limited, Raschig GmbH, Blendl GmbH, Nihon Kagaku Sangyo Co., Ltd., Daiwa Fine Chemicals Co., Ltd. and Advanced Chemical Company.
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