Electroplating is the process of coating metal or metal objects with a very thin layer of another metal by applying a direct electric current. This process uses electric current to reduce dissolved metal cations so as to develop a lean, coherent metal coating on the electrode. The electroplating process is highly utilized in the jewellery and personal goods industry to provide a shiny appearance to the products. Copper and nickel are used majorly for electroplating in the personal goods industry, whereas gold and silver play a major role in the electroplating process for jewellery.
The primary reason that is driving the market is the high demand from various end-use industries. With the advent of electroplating, most of the manufacturers rely on comparatively cheap metals and later on electroplated with other metals to give better protection from corrosion. These factors have compelled manufacturers to uptake electroplating, thus making the Europe electroplating market expand. Also, the advent of innovations in electroplating technologies has meant that the efforts of industry players to curb their environmental footprint and improve waste management are being materialized. Moreover, various applications are beinefitted with several benefits of the electroplating process. Electroplating enhances appearance, electrical conductivity, protective barrier, and improves hardness. Plating exterior pieces with thin layers of precious metals makes them more lustrous and attractive to look at. Electroplating is also used to prevent tarnishing on silverware, thus improving longevity and aesthetic appearance over time. All these benefits of electroplating are boosting its adoption in the jewellery and personal goods industry. Therefore, the rising demand for electroplating from various end-use industries is propelling electroplating market for jewellery and personal goods application growth.
Further, several governments and authorities are imposing certain regulations on the electroplating industry to curb the emissions of harmful chemicals along with gases that are released into the atmosphere throughout the electroplating process. This is likely to hinder the growth of the Europe electroplating market for jewellery and personal goods application. The electroplating industry is constantly engaging with hazardous materials, which are harmful to humans as well as to the environment. The process of electroplating produces sludge, which further contains a high quantity of metals that should be classified as hazardous waste or should be subjected to metal recovery procedures. Sludge should be processed to ensure that toxins are not released into the environment, and the process baths should be recycled post-concentration and filtration. Thus, waste management is the most challenging aspect of the electroplating industry, making the electroplating industry growth uncertain.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3.45 Billion |
| Market Size by 2030 | US$ 5.03 Billion |
| Global CAGR (2022 - 2030) | 4.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Metal
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The List of Companies - Europe Electroplating Market for Jewellery and Personal Goods Application