The precious metal plating chemicals market is valued at USD 1.6 Billion in 2021. It is set to grow at 3.9% CAGR through 2027
| Attributes | Details |
|---|---|
| Estimate Market Size of precious metal plating chemicals in 2021 | USD 1.6 Biilion |
| Projected Market Size of precious metal plating chemicals in 2027 | USD 2 Biilion |
| CAGR during 2021 to 2027 | 3.90% |
The silver segment is projected to have a market value of nearly USD 6 Biilion by 2027 to end.
The gold segment is estimated to reach a market value of more than USD 1 Biilion by 2027.
The solution or concentrate segment is expected to be the fastest growing segment at a CAGR of 4% and will reach a valuation of around USD 1.9 Billion.
By end use, the electrical and electronics industry will dominate the global market by 2027 with a valuation of more than USD 900 Million.
The hardware and other industries are projected to grow at a CAGR of 4.2% during this period.
Asia Pacific excluding Japan (APEJ) region is expected to witness a market valuation of about USD 650 Million by 2027.
As per this new research study, the global market is anticipated to grow at a steady rate to reach a significant market estimation by the end of the forecast period. The global precious metal plating chemicals market is expected to grow at a CAGR of 3.9% throughout the period of assessment, 2017 to 2027 and is estimated to reach a value of more than USD 2 Biilion by the end of the year of assessment from a valuation of a bit less than USD 1.5 Biilion in 2017.
This significant increase in valuation of precious metal plating chemicals is mainly due to the boost in the electrical and electronics industry. Another factor contributing to the 1.4x increase in revenue growth of precious metal plating chemicals market is the rising demand for precious metal plating chemicals in the aerospace industry.
The precious metal plating industry is considered to be a highly polluting industry as it deals with hazardous materials. However, adoption of green chemicals, cleaner technology, waste minimization and recycling techniques can propel the growth of the precious metal plating as well as precious metal plating chemicals industry.
Development of waste management techniques in order to ensure that toxics are not released in the environment and recycling process baths post concentration and filtration are other factors that could present new avenues for manufacturers.
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Gold plating is carried out to give long lasting decorative finishes in jewellery, cutlery and optical frames. Gold is also the metal of choice in the plating of different electronic components. Gold plating chemicals are commonly utilized in semiconductor, connector and circuit applications. Gold potassium cyanide, tetrachlorogold acid hydrate solution, and potassium dicyanoaurate are the commonly utilized solutions in gold plating.
The gold segment in the chemical base metal category is anticipated to outclass other segments in terms of growth rate and market share during the forecast period. In 2016, gold segment was valued at about USD 667 Million and is estimated to reach a valuation of more than USD 1 Billion by the end of the year of assessment (2027). Volume wise, the gold segment is the second largest during the forecast period.
Silver segment is the third fastest growing segment in the chemical base metal category during the period of assessment. However, this segment is expected to show less market value during this period. The silver segment was value at less than USD 4 Million in 2012 and is expected to reach a value less than USD 6 Billion by the end of the assessment year. The silver segment is projected to reach a CAGR of 3.6% throughout the period of forecast, 2017 to 2027.
The global sales volume is to rise at 3.9% CAGR through 2027.
The total valuation of the global market is expected to cross USD 2 billion by 2027.
By 2027, the gold segment is projected to acquire more than USD 1 billion in revenue.
The silver segment is predicted to garner a valuation of USD 6 billion by 2027.
The electrical and electronics industries create a sizeable demand for the market.
Asia Pacific Excluding Japan’s regional market value is poised to reach around USD 650 million by 2027.
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Precious Metal Plating Chemicals Market
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