Precious Metal Plating Chemicals Market - Forecast(2022 - 2027)

Report Code: CMR 41062 Report Format: PDF + Excel

Precious Metal Plating Chemicals Market Overview

The precious metal plating chemicals market size is forecasted to reach US$1.8 billion by 2027 after growing at a CAGR of 4.1% during 2022-2027. Precious metal plating chemicals which involve chemical compounds of metals such as gold, silver, and platinum, find their uses in a wide range of industries. Automotive and consumer electronics are two of the largest consumers of these chemicals. Precious metal plating chemicals are used extensively in the automotive industry for coating applications of several metals and non-metallic automotive parts through electroplating or electroless process. The automotive industry is booming globally with high production and sales and this will drive the growth of the market in the forecast period. According to the statistics by the China Association of Automobile Manufacturers, the annual sales volume of the Chinese new energy vehicles segment is projected to touch 3 million units by 2025 which was 1.2 million units in 2019. Furthermore, precious metal plating chemicals find their massive uses in the manufacturing process of various electrical and electronic products such as microchips, semiconductors, pcs, tablets, mobile phones, tv, microwave, and many more. The consumer electronics sector is displaying exceptional growth and this will contribute to the growth of the market in the forecast period. For instance, as per the July 2021 data by China.org.cn, consumer electronics exports witnessed a growth trajectory for 12 months in a row. Electroless is projected to witness the highest demand in the forecast period. The strict environmental regulations regarding the use of precious metal plating chemicals might hamper the growth of the market in the forecast period.

COVID-19 Impact

The precious metal plating chemicals market was hit severely due to the COVID-19 pandemic. Challenges such as disruption in the supply chain and temporary shutdown of factories surfaced amid the pandemic, slowing down the growth of the market. Market players faced several issues in maintaining a standard business operation during the pandemic. As per the June 2020 COVID-19 report by Heimerle + Meule GmbH, the company faced challenges in the production process and the sales, leading to delay in delivery of orders. The market was also affected due to the stagnant growth of multiple end-use industries. Going forward, the market is projected to witness significant growth due to the expansion of the automotive and consumer electronics sector.

Report Coverage

The report: Precious Metal Plating Chemicals Market Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Precious Metal Plating Chemicals Industry. 

By Material: Silver, Gold, Platinum, Rhodium, Palladium, Iridium, Ruthenium, Others
By Process: Electrolytic, Electroless
By Form: Solid, Crystalline, Solution, Concentrate
By End Use Industry: Automotive, Passenger Vehicle, Commercial Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle, Electrical and Electronics, Healthcare, Hospitals, Long Term Care Facilities, Clinics and Diagnostic Centers, Aerospace, Industrial, Chemical, Textile, Ceramic, Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • Silver precious metal is leading the precious metal plating chemicals market. This precious metal is less expensive than other precious metals, allowing its higher adoption in several end-use industries.
  • The automotive industry will drive the growth of the market in the forecast period. According to the July 2021 report by the European Automobile Manufacturers Association, registration in passenger cars surged by 25.2% in the European region in the first of 2021.
  • The Asia-Pacific region will witness the highest demand for precious metal plating chemicals in the forecast period owing to the expanding automotive sector in the region. As per the stats by the China Association of Automobile Manufacturers, in September 2021, production of Chinese passenger vehicles reached 1.767 million units, jumping 18.1% month on month.

Figure: Asia Pacific Precious Metal Plating Chemicals Market Revenue, 2021-2027 (US$ Billion)

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Precious Metal Plating Chemicals Market - By Material

Silver dominated the material segment in the precious metal plating chemicals market in 2021. This is one of the most cost-effective metal plating materials that provides excellent conductivity and resistance to chemicals and acids. Silver plating is carried out in various consumer electronics, solar cells, and decorative applications. Owing to such diverse properties and a wide range of use, the silver metal plating portfolio will further expand in the forecast period. For instance, as per the January 2021 report by Heraeus, silver is likely continuing an upward trend and is expected to perform better than other metal plating materials. The report also states that the boost in the solar industry will drive the higher uses of silver-plating applications in the forthcoming years. Palladium is projected to witness significant demand in the forecast period. palladium plating is utilized in the production of catalytic converters for automobiles and the booming automobile sector will increase its uses in the forecast period.

Precious Metal Plating Chemicals Market - By Process

The electroless process dominated the precious metal plating chemicals market in 2021. This plating process bonds the coating to the metal parts with the help of electrically-charged coatings. It is a less expensive plating process that offers higher reliability, improves productivity, and increases the corrosion resistance of the parts. Owing to these robust qualities, market players and research organizations are engaging in the higher implementation of this plating process. As per the April 2021 journal by Multidisciplinary Digital Publishing Institute, electroless plating was conducted with gold and silver on additively manufactured laser powder-bed fusion parts. Such high uses of the electroless plating process will increase its demand in the forecast period. The electrolytic process will witness significant demand in the forecast period.

Precious Metal Plating Chemicals Market - By Form

Concentrated form dominated the precious metal plating chemicals market in 2021. Precious metal chemicals involving the chemical compounds of silver, gold, platinum, and palladium are utilized in precious metal chemistry, mostly as a concentrate. The demand for concentrated precious metals is increasing and this trend is projected to be there in the forecast period. For instance, as per the March 2021 journal by Frontiers Media SA, pre-leaching of tellurium was done from gold concentrate. Such high uses of precious metal chemicals as concentrate will increase in the precious metal plating chemicals market in the forecast period.

Precious Metal Plating Chemicals Market - By End Use Industry

The electrical and electronics industry dominated the precious metal plating chemicals market in 2021 and is growing at a CAGR of 4.6% in the forecast period. Precious metal plating chemicals have their widespread use in the manufacturing of several consumer electronic products, ranging from laptops to mobile phones, and microwaves. The consumer electronics industry is expanding globally and this will contribute to the growth of the market in the forecast period. For instance, as per the data by trade.gov, in 2019, US firms occupied 47% of semiconductor revenue globally and semiconductors became the country’s fifth-largest export at $41 billion. Similarly, as per the September 2021 data by the UK’s Office for National Statistics, consumer electronics import value in the European Union was 109.2 in the first quarter of 2021 which was 108.4 in the first quarter of 2020. Such massive expansion in the global electrical and electronics industry will augment the higher the uses of precious metal plating chemicals in the manufacturing of various electronic products and this will contribute to the growth of the market during the forecast period.

Precious Metal Plating Chemicals Market - By Geography

The Asia-Pacific region held the largest market share in the precious metal plating chemicals market in 2021 with a market share of up to 34%. The high demand for precious metal plating chemicals is attributed to the booming automobile industry in the region. For instance, according to the May 2021 stats by chinabuses.org, bus production in China reached 483000 units in April, surging 24% year on year. Similarly, as per the stats by the China Association of Automobile Manufacturers, in September 2021, the production of commercial vehicles touched 310000 units in China, increasing 35.5% month on month. Such a boost in the region’s automobile industry will stimulate the higher uses of precious metal plating chemicals in the production of catalytic converters for automobiles and coating application of several automotive parts, either through electroplating or electroless process. The North American region is expected to witness significant demand in the forecast period owing to expanding electrical and electronic industry in the region.

Precious Metal Plating Chemicals Market Drivers

Expanding electrical and electronics industry will drive the growth of the market

Precious metal plating chemicals are used in several electrical and electronic products. The electrical and electronic industry is expanding globally and this will drive the growth of the market. For instance, as per the data by India Brand Equity Foundation, India will increase its laptop and tablet production to US$ 100 billion by 2025. According to the September 2020 report by the American Customer Satisfaction Index, TV sales in the US witnessed a surge, especially in the big-screen TVs category. Such exceptional growth in the global electrical and electronic industry will augment the higher implementation of precious metal plating chemicals and this drive the growth of the market in the forecast period.

Booming automobile industry will drive the growth of the market

Precious metal plating chemicals are utilized in the automobile industry for the production of catalytic converters and coating applications of different automotive parts either through electroplating or electroless process. The automobile industry is booming globally and this will contribute to the growth of the market in the forecast period. For instance, according to the July 2021 stats by European Automobile Manufacturers Association, in June 2021, passenger car registrations jumped with Germany leading the passenger car market with a 24.5% surge, followed by Spain (+17.1%). Similarly, according to the data by the India Brand Equity Foundation, in April 2021, demand for passenger vehicles surged in India with 261,633 units sold, gaining a market share of 12.9%. Such massive expansion in the global automobile sector will amplify the uses of precious metal plating chemicals and this will drive the growth of the market in the forecast period.

Precious Metal Plating Chemicals Market Challenges

Strict environmental regulations regarding the use of precious metal plating chemicals might hamper the growth of the market

The strict regulations regarding the use of precious metal plating chemicals have been a major challenge in the market and this might affect the market’s growth in the forecast period. Many plating processes involve toxic metals and dangerous chemicals owing to which governing bodies closely monitor the implementation of precious metal plating chemicals in the market. For instance, as per the December 2020 article by IWA Publishing, the cumulative level of palladium is increasing rapidly in the environment and the threat to human health is surging. Owing to such adverse effects of precious metal plating chemicals, strict monitoring is conducted and this might affect the growth of the market in the forecast period.

Precious Metal Plating Chemicals Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the precious metal plating chemicals market. major players in the precious metal plating chemicals market are:

  1. Heimerle + Meule GmbH
  2. Japan Pure Chemical Co., Ltd.
  3. American Elements
  4. Metalor Technologies International SA
  5. Heraeus Holding
  6. MATSUDA SANGYO Co., Ltd.
  7. SAXONIA Edelmetalle GmbH
  8. The TANAKA Group
  9. Others

Recent Developments 

In February 2019, Ravindra-Heraeus set up the first pyrometallurgical smelter for precious metal catalyst recycling in India. Such developments will help the market to expand in the forecast period.

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1. Precious Metal Plating Chemicals Market- Market Overview
    1.1 Definitions and Scope
2. Precious Metal Plating Chemicals Market- Executive Summary
    2.1 Key Trends by Material
    2.2 Key Trends by Process
    2.3 Key Trends by Form
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Precious Metal Plating Chemicals Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Precious Metal Plating Chemicals Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Precious Metal Plating Chemicals Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Precious Metal Plating Chemicals Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Precious Metal Plating Chemicals Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Precious Metal Plating Chemicals Market– By Material (Market Size -US$ Million, Billion)
    8.1 Silver
    8.2 Gold
    8.3 Platinum
    8.4 Rhodium
    8.5 Palladium
    8.6 Iridium
    8.7 Ruthenium
    8.8 Others
9. Precious Metal Plating Chemicals Market– By Process (Market Size -US$ Million, Billion)
    9.1 Electrolytic
    9.2 Electroless
10. Precious Metal Plating Chemicals Market– By Form (Market Size -US$ Million, Billion)
    10.1 Solid
    10.2 Crystalline
    10.3 Solution
    10.4 Concentrate
11. Precious Metal Plating Chemicals Market– By End Use Industry (Market Size -US$ Million, Billion)
    11.1 Automotive
        11.1.1 Passenger Vehicle
        11.1.2 Commercial Vehicle
            11.1.2.1 Light Commercial Vehicle
            11.1.2.2 Heavy Commercial Vehicle
    11.2 Electrical and Electronics
    11.3 Healthcare
        11.3.1 Hospitals
        11.3.2 Long Term Care Facilities
        11.3.3 Clinics and Diagnostic Centers
        11.3.4 Others
    11.4 Aerospace
    11.5 Industrial
    11.6 Chemical
    11.7 Textile
    11.8 Ceramic
    11.9 Others
12. Precious Metal Plating Chemicals Market - By Geography (Market Size -US$ Million / Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of Asia Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 ROW
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Precious Metal Plating Chemicals Market-Entropy
    13.1 New Product Launches
    13.2 M&A’s, Collaborations, JVs and Partnerships
14. Precious Metal Plating Chemicals Market-Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking Matrix- Major Companies
    14.2 Market Share at Global Level- Major companies
    14.3 Market Share by Key Region- Major companies
    14.4 Market Share by Key Country- Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category- Major companies
15. Precious Metal Plating Chemicals Market- Key Company List by Country Premium Premium 
16. Precious Metal Plating Chemicals Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
1.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Global Industry Research
1.1.1 Rhodium Market 2019-2024 ($M)
1.1.2 Palladium Market 2019-2024 ($M)
2.Global Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
2.1 Current By Product Form Market 2019-2024 ($M) - Global Industry Research
2.1.1 Solid/Powder Market 2019-2024 ($M)
2.1.2 Solution/Concentrates Market 2019-2024 ($M)
3.Global Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
3.1 Medical Device Market 2019-2024 ($M) - Global Industry Research
4.Global Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 (Volume/Units)
4.1 Current By Chemical Base Metal Market 2019-2024 (Volume/Units) - Global Industry Research
4.1.1 Rhodium Market 2019-2024 (Volume/Units)
4.1.2 Palladium Market 2019-2024 (Volume/Units)
5.Global Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 (Volume/Units)
5.1 Current By Product Form Market 2019-2024 (Volume/Units) - Global Industry Research
5.1.1 Solid/Powder Market 2019-2024 (Volume/Units)
5.1.2 Solution/Concentrates Market 2019-2024 (Volume/Units)
6.Global Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 (Volume/Units)
6.1 Medical Device Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
7.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Rhodium Market 2019-2024 ($M)
7.1.2 Palladium Market 2019-2024 ($M)
8.North America Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
8.1 Current By Product Form Market 2019-2024 ($M) - Regional Industry Research
8.1.1 Solid/Powder Market 2019-2024 ($M)
8.1.2 Solution/Concentrates Market 2019-2024 ($M)
9.North America Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
9.1 Medical Device Market 2019-2024 ($M) - Regional Industry Research
10.South America Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
10.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Regional Industry Research
10.1.1 Rhodium Market 2019-2024 ($M)
10.1.2 Palladium Market 2019-2024 ($M)
11.South America Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
11.1 Current By Product Form Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Solid/Powder Market 2019-2024 ($M)
11.1.2 Solution/Concentrates Market 2019-2024 ($M)
12.South America Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
12.1 Medical Device Market 2019-2024 ($M) - Regional Industry Research
13.Europe Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
13.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Rhodium Market 2019-2024 ($M)
13.1.2 Palladium Market 2019-2024 ($M)
14.Europe Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
14.1 Current By Product Form Market 2019-2024 ($M) - Regional Industry Research
14.1.1 Solid/Powder Market 2019-2024 ($M)
14.1.2 Solution/Concentrates Market 2019-2024 ($M)
15.Europe Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
15.1 Medical Device Market 2019-2024 ($M) - Regional Industry Research
16.APAC Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
16.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Regional Industry Research
16.1.1 Rhodium Market 2019-2024 ($M)
16.1.2 Palladium Market 2019-2024 ($M)
17.APAC Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
17.1 Current By Product Form Market 2019-2024 ($M) - Regional Industry Research
17.1.1 Solid/Powder Market 2019-2024 ($M)
17.1.2 Solution/Concentrates Market 2019-2024 ($M)
18.APAC Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
18.1 Medical Device Market 2019-2024 ($M) - Regional Industry Research
19.MENA Precious Metal Plating Chemical Market Analysis And Forecast By Chemical Base Metal Market 2019-2024 ($M)
19.1 Current By Chemical Base Metal Market 2019-2024 ($M) - Regional Industry Research
19.1.1 Rhodium Market 2019-2024 ($M)
19.1.2 Palladium Market 2019-2024 ($M)
20.MENA Precious Metal Plating Chemical Market Analysis And Forecast By Product Form Market 2019-2024 ($M)
20.1 Current By Product Form Market 2019-2024 ($M) - Regional Industry Research
20.1.1 Solid/Powder Market 2019-2024 ($M)
20.1.2 Solution/Concentrates Market 2019-2024 ($M)
21.MENA Precious Metal Plating Chemical Market Analysis And Forecast By End-Use Industry Market 2019-2024 ($M)
21.1 Medical Device Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
2.Canada Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
3.Mexico Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
4.Brazil Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
5.Argentina Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
6.Peru Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
7.Colombia Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
8.Chile Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
9.Rest of South America Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
10.UK Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
11.Germany Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
12.France Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
13.Italy Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
14.Spain Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
15.Rest of Europe Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
16.China Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
17.India Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
18.Japan Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
19.South Korea Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
20.South Africa Precious Metal Plating Chemicals Market Revenue, 2019-2024 ($M)
21.North America Precious Metal Plating Chemicals By Application
22.South America Precious Metal Plating Chemicals By Application
23.Europe Precious Metal Plating Chemicals By Application
24.APAC Precious Metal Plating Chemicals By Application
25.MENA Precious Metal Plating Chemicals By Application