The FMI anticipates that the gold plating chemicals market is anticipated to capture a valuation of USD 467.1 million in 2023. The market is projected to rise to USD 703.8 million by 2033. The market is securing a CAGR of 4.5% during the forecast period. There are several driving factors in the gold plating chemicals market, including:
Increasing Demand for Gold Plating in the Electronics Industry: Gold plating is widely used in the electronics industry to improve the conductivity, corrosion resistance, and solderability of components. With the growing demand for electronic devices such as smartphones, laptops, and tablets, the demand for gold plating chemicals is also increasing.
Growth in the Jewelry Industry: Gold plating is also used in the jewelry industry to enhance the appearance and durability of jewelry items. With the increasing demand for gold jewelry, gold plating chemicals are also rising.
Growing Demand for Decorative Items: Gold plating creates decorative items such as trophies, medals, and figurines. With the growing demand for such items, gold plating chemicals are also increasing.
Advancements in Technology: Technological advancements have led to the development of improved gold plating chemicals that offer better performance, high efficiency, and great environmental friendliness. It is driving the demand for these chemicals in various applications.
Increasing Environmental Regulations: Governments worldwide are implementing stringent environmental regulations to reduce the use of hazardous chemicals in manufacturing processes. It is leading to the development of new and safer gold plating chemicals that comply with these regulations.
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There are several restraining factors in the gold plating chemicals market, including:
Volatility in Gold Prices: Gold prices are subject to fluctuations due to various factors such as economic conditions, geopolitical tensions, and currency exchange rates. This volatility can affect the demand for gold plating chemicals as consumers may switch to cheap alternatives or delay purchases.
Availability of Substitutes: There are various alternative coating materials available that can be used in place of gold plating, such as silver, nickel, and copper. These alternatives are often cheap and can provide similar performance characteristics, which may reduce the demand for gold plating chemicals.
High Capital Investment: Gold plating requires significant capital investment in equipment and chemicals, which may deter new entrants or small-scale players from entering the market.
Limited Application Areas: The use of gold plating is limited to certain applications, such as electronics, jewelry, and decorative items. It limits the potential market size for gold plating chemicals.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.5% |
| Market Valuation (2023) | USD 467.1 million |
| Market Valuation (2033) | USD 703.8 million |
According to Future Market Insights, the global gold plating chemicals market is estimated to register a healthy 4.5% CAGR during the forecast period. Historically, the market registered a CAGR of 4.2% between 2017 and 2022. During this period, the electronics industry was the leading end-user segment of gold plating chemicals.
Increasing demand for gold plating in electronic components such as connectors, printed circuit boards (PCBs), and semiconductors drives market size. The jewelry industry was another significant end-user of gold-plating chemicals, with the growing popularity of gold-plated jewelry.
Geographically, the Asia-Pacific region dominated the global market between 2018 and 2022, accounting for a maximum market share. It was mainly due to the presence of the leading electronics and jewelry manufacturing countries such as China, Japan, and India.
Overall, the historical period witnessed steady growth, driven by the increasing demand from the electronics and jewelry industries. However, the market also faced challenges such as volatile gold prices and strict environmental regulations, which may have impacted the market growth.
Short-Term (2022 to 2025): Growing population, Rapid urbanization, and electronics industry infrastructure are increasing the adoption of gold plating chemicals in this time frame. In addition, developed countries, including the United States, China, and Germany, are innovating products by adopting technological advancements driving market size.
Medium-Term (2025 to 2028): Growing demand for decorative items, increasing demand for jewelry, rising disposable incomes, and increasing environmental concerns fuel market growth. Innovation of new products advancing the market size.
Long-Term (2028 to 2033): Growing research & development activities, present manufacturers, new market entrance, and huge investments drive market growth. Manufacturers continue to expand the market by raising the demand for gold plating chemicals in various end-use industries during the forecast period.
The market is estimated to reach USD 703.8 million during the forecast period. Historically, the market stood at USD 445.5 million in 2022.
Principal Consultant
Potassium gold cyanide is one of the leading chemicals in the gold plating industry. Potassium gold cyanide is securing a CAGR of 4.2% in the global market during the forecast period. It is a highly toxic chemical compound with the chemical formula KAu(CN)2.
Potassium gold cyanide is used in electroplating, where it is used to deposit a thin layer of gold onto the surface of other metals. This process is known as gold plating and is commonly used to enhance the appearance and durability of jewelry, electronics, and other products.
Other chemicals commonly used in gold plating include gold sulfite, chloride, and potassium sulfite. Each of these chemicals has unique properties and advantages, and the choice of a chemical depends on the specific application and desired outcome.
It is important to note that using these chemicals requires careful handling and proper safety precautions. Potassium gold cyanide, in particular, is highly toxic and can be dangerous if mishandled or ingested.
Those working with these chemicals should always follow proper safety procedures and wear appropriate protective gear to minimize the risk of exposure. Historically, potassium gold cyanide secured a CAGR of 3.6% between 2018 and 2022.
Cleaning chemicals is capturing a CAGR of 4.3% in the global market during the forecast period. Due to various influencing factors, cleaning chemicals propel the global market as follows:
Cyanide-based Gold Plating Chemicals: The cyanide-based gold plating chemicals are widely used in the industry due to their efficiency and effectiveness in producing high-quality gold coatings. However, cyanide-based chemicals are highly toxic and require strict safety protocols for their use and disposal.
Non-cyanide Gold Plating Chemicals: Non-cyanide gold plating chemicals are an alternative to cyanide-based chemicals and are becoming increasingly popular due to their lower toxicity and environmental impact.
Acid-based Gold Plating Chemicals: These chemicals are used for specific applications, such as the plating of jewelry and decorative items.
Alkaline-based Gold Plating Chemicals: These chemicals are used for specific applications, such as the plating of printed circuit boards.
Historically, cleaning chemicals captured a CAGR of 4.0% between 2018 and 2022.
Increasing Popularity of Gold-plated Jewelry Rises the United States Market
The United States is securing a CAGR of 3.5% with a valuation of USD 121.2 million during the forecast period. The market in the United States is driven by the growing demand for gold-plated products in various industries such as electronics, jewelry, automotive, and others. The increasing popularity of gold-plated jewelry and electronic devices such as smartphones and laptops is expected to fuel the market's growth.
The rise in demand for gold-plated automotive parts and aerospace components is also expected to contribute to the market's growth. The use of gold plating on these parts and components provides corrosion resistance, electrical conductivity, and aesthetic appeal.
Based on type, cyanide-based gold plating chemicals have traditionally dominated the market in the United States due to their efficiency and effectiveness. However, the trend towards using non-cyanide gold plating chemicals is increasing due to their lower toxicity and environmental impact.
The key players in the global market include Atotech Deutschland GmbH, Technic Inc., and Precision Plating Company, among others. Historically, the United States gold plating chemicals secured a CAGR of 3.3% between 2018 and 2022.
Rising Technological Advancements Upsurge Germany Market
Germany is one of the significantly growing markets globally, registering a CAGR of 3.5% with a valuation of USD 33.1 million during the forecast period.
Increasing Demand for Gold-plated Products: There is a growing demand in Germany, particularly in the automotive, electronics, and jewelry industries. Gold plating enhances the aesthetic appeal of products, improves electrical conductivity, and provides corrosion resistance.
Technological Advancements: There have been significant advancements in gold plating technologies, including developing non-cyanide gold plating chemicals, which are gaining popularity due to their low toxicity and environmental impact.
Growing Automotive Industry: The automotive industry is a leading consumer of gold plating chemicals in Germany. The growth of this industry is expected to fuel the demand for gold plating chemicals in the country.
Government Regulations: Germany government has implemented regulations to promote eco-friendly products and processes. It has led to the development of new, environmentally-friendly gold plating technologies, expected to contribute to the market's growth.
Strong manufacturing base: Germany has a strong manufacturing base supporting to produce of gold-plated products. It has led to the growth of the gold plating chemicals market in the country.
These factors are propelling Germany's gold plating chemicals market in the coming years. Historically, Germany secured a CAGR of 3.3% between 2018 and 2022.
Favorable Government Policies are Driving China Market Size
China’s gold plating chemicals market is capturing a CAGR of 4.1% with a valuation of USD 138.6 million. China is dominating the global market and is expected to grow in the coming years. Here are some ways in which the market is uplifting:
China is driven by the increasing demand for gold-plated products in various electronics, automotive, and jewelry industries. The strong demand for these products is expected to continue to drive the market's growth.
China has significantly advanced technologies, including developing non-cyanide gold plating chemicals. These advancements have helped improve the quality and efficiency of gold plating processes, which has contributed to the market's growth.
China government has implemented favorable policies to promote the development of the gold plating chemicals market in the country. For example, the government provides subsidies for companies engaged in the production of gold plating chemicals. This support has helped to attract investment and stimulate growth in the industry.
Many companies in China are investing in research and development to develop new and innovative gold plating technologies. It has led to the development of new and improved gold plating chemicals, expected to contribute to the market's growth. Historically, China market captured a CAGR of 4.0% between 2018 and 2022.
The competitive landscape in the global gold plating chemicals market is highly fragmented, with numerous players operating. The market players range from small, specialized companies to large, multinational corporations. A few of the key players in the market include:
Atotech Deutschland GmbH: Atotech is a leading provider of specialty chemicals, equipment, and services for various industries, including the gold plating chemicals market. The company offers various gold plating chemicals, including cyanide and non-cyanide gold plating solutions.
Technic, Inc.: Technic is a global specialty and surface finishing equipment provider, including gold plating chemicals. The company offers a range of cyanide and non-cyanide gold plating solutions for various applications, including electronics, jewelry, and decorative finishes.
American Elements: American Elements manufactures and supplies advanced materials, including gold plating chemicals. The company offers a range of gold plating chemicals, including cyanide and non-cyanide gold plating solutions and custom formulations for specific applications.
Electroplating Engineers of Japan, Ltd. (EEJA): EEJA is a global supplier of electroplating equipment and chemicals, including gold plating. The company offers a range of cyanide and non-cyanide gold plating solutions and custom formulations for specific applications.
Umicore Group: Umicore is a global materials technology and recycling company offering various products and services, including gold plating chemicals. The company offers a range of gold plating chemicals, including cyanide and non-cyanide gold plating solutions and custom formulations for specific applications.
HEESEMANN Maschinenfabrik GmbH: HEESEMANN is a German sanding and grinding machine manufacturer and offers a range of gold plating chemicals for decorative and functional applications. The company offers a range of cyanide and non-cyanide gold plating solutions.
Other Prominent Players in the Market are:
Recent Developments in the Global Gold Plating Chemicals Market are:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
| Key Segments Covered | Chemicals, Type, Application, Region |
| Key Companies Profiled | Atotech Deutschland GmbH; Technic, Inc.; American Elements; Electroplating Engineers of Japan, Ltd. (EEJA); Umicore Group; HEESEMANN Maschinenfabrik GmbH; Heraeus Holding GmbH; Johnson Matthey Plc; Tanaka Holdings Co., Ltd.; Legor Group S.p.A.; Coventya Holding SAS; DOW Chemical Company; Advanced Chemical Company; Japan Pure Chemical Co., Ltd.; Matsuda Sangyo Co., Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The gold plating chemicals market CAGR 2033 is 4.5%.
The market is estimated to secure a size of USD 467.1 million in 2023.
The projected market value for 2033 is expected to be USD 703.8 million.
Key players are developing the market by entering into strategic partnerships.
Atotech Deutschland GmbH, Technic Inc., and Umicore Group are the key companies in the market.
1. Executive Summary | Gold Plating Chemicals Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Type 9.1. Cleaning Chemicals 9.2. Pre-treaters 9.3. Electrolyte Solutions 9.4. Acids 9.5. Additives 9.6. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Chemicals 10.1. Potassium Gold Cyanide 10.2. Palladium acetate 10.3. Sodium succinate 10.4. Succinic acid 10.5. EDTA 10.6. Others 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 11.1. Electronics 11.1.1. Printed Circuit Board 11.1.2. Connectors 11.1.3. Others 11.2. Jewellery 11.3. Infrared Reflectors 11.4. Others 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia & Pacific 12.6. Middle East & Africa 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Key and Emerging Countries Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. JAPAN PURE CHEMICAL CO., LTD 21.2. Marshal Laboratories 21.3. PCI 21.4. American Elements 21.5. Legor Group 21.6. Shaanxi Kaida Chemical Engineering Co., Ltd. 21.7. METALOR Technologies SA 21.8. Heraeus Holding 21.9. Uma Chemicals 21.10. Umicore 21.11. Roberts Chemical Co., Inc. 21.12. Grauer & Weil (India) Limited 21.13. Micron Platers 21.14. Solar Applied Materials Technology Corporation 22. Assumptions and Acronyms Used 23. Research Methodology
Chemicals & Materials
October 2024
REP-GB-1088
315 pages
Chemicals & Materials
August 2024
REP-IN-87
302 pages
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Gold Plating Chemicals Market
