The gold plating chemicals industry is poised for substantial growth, projecting a valuation of US$ 467.1 million in 2023 and anticipating a notable surge to US$ 703.8 million by 2033. This robust expansion is underpinned by a steady Compound Annual Growth Rate (CAGR) of 4.5% throughout the forecast period. The market’s upward trajectory reflects a growing demand for gold plating chemicals, likely driven by increased applications in various industries and a burgeoning global economy. As technological advancements and aesthetic preferences continue to evolve, the industry is well-positioned for sustained development in the coming years.
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Trends in the Global Gold Plating Chemicals Industry
The increasing demand for gold plating chemicals in the electronics industry, particularly in consumer electronics manufacturing, is fueling market trend. Gold plating enhances connectors’ and other electronic components’ electrical conductivity and durability.
Another factor contributing to the growth of the gold plating chemicals market is the rising demand for jewelry and other luxury items. Gold plating is a popular method of adding a layer of gold to items made from other materials such as silver, brass, or nickel.
In terms of trends, there is a growing interest in developing eco-friendly gold plating chemicals that are less harmful to the environment and human health. It is driven by increasing consumer awareness of sustainability and the need for businesses to adopt more sustainable practices.
The growing trend towards using non-cyanide gold plating chemicals upsurges the market size. Cyanide-based chemicals have traditionally been used in the gold plating process, but concerns about their toxicity and environmental impact exist. Non-cyanide alternatives are seen as safe and sustainable options.
Overall, the gold plating chemicals market is expected to grow in the coming years, driven by demand from the electronics and luxury goods industries.
Key Takeaways:
- The gold plating chemicals market is expected to have a valuation of US$ 8 million by 2033.
- With a CAGR of 5%, the global market is increasing during the forecast period.
- The market in the United States is anticipated to capture a CAGR of 3.5% in the global market through 2033.
- China is dominating the global market by capturing a valuation of US$ 138.6 million by 2033.
- Historically, the market captured a valuation of US$ 5 million between 2018 and 2022.
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Who is Winning?
The market is highly competitive, with several key players present globally. These players invest huge amounts in research & development activities to generate maximum profit in the market. The marketing tactics that players adopt include mergers, collaborations, partnerships, agreements, and product launches.
Other Essential Players Working in the Market:
- 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.
Recent Developments in the Global Market:
- Atotech is a leading player in the market, offering various products for the electronics, automotive, and decorative industries. In 2020, the company launched a new electroless nickel immersion gold (ENIG) process designed to provide superior adhesion and corrosion resistance for PCBs (printed circuit boards).
- Heimerle + Meule GmbH is a German company that specializes in precious metal refining and surface treatment. In 2020, the company introduced a new line of cyanide-free gold plating chemicals called Auruna 5500.
- Technic Inc. is a US-based company that provides various plating chemicals and equipment for the electronics, automotive, and medical industries. In 2020, the company launched a new line of non-cyanide gold plating chemicals called Techni Gold NC. These chemicals are designed to offer improved performance and efficiency compared to traditional cyanide-based alternatives.
- Uyemura International Corporation is a Japanese company that specializes in surface finishing technologies. In 2021, the company announced the development of a new gold plating process called Miralloy. This process provides high corrosion and wears resistance for connector contacts and other electronic components.
Japan Pure Chemical Co. Ltd. is a Japanese company that produces various chemicals for the electronics, automotive, and aerospace industries. In 2020, the company introduced a new line of gold plating chemicals called GOLDCORE PL.
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Gold Plating Chemicals Industry by Category
By Chemicals:
- Potassium Gold Cynide
- Palladium Acetate
- Sodium Succinate
- Succinic Acid
- EDTA
- Others
By Type:
- Cleaning Chemicals
- Pre-treaters
- Electrolyte Solutions
- Acids
- Additives
- Others
By Application:
- Electronics
- Jewellery
- Infrared Reflector & Radars
- Gold Plated Products
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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