Europe Electroplating Market for Jewellery and Personal Goods Application is expected to reach US$ 5.03 billion by 2030

On-Going Industrialization to Bolster Growth of Europe Electroplating Market for Jewellery and Personal Goods Application

According to our latest study on “Europe Electroplating Market for Jewellery and Personal Goods Application Size and Forecast (2020–2030), Regional Share, Trends, and Growth Opportunity Analysis – by Metal, Type, and Application,” the market size is expected to grow from US$ 3.45 billion in 2022 to US$ 5.03 billion by 2030; it is estimated to register a CAGR of 4.8% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Electroplating is used to build thickness, protect the substrate, lend surface properties, and improve appearance. Electroplating is highly used in the jewellery and personal goods industries. In the personal goods industry, electroplating is used for buckles, carabiners, kitchenware, eyeglass frames, tableware, and others. There are various benefits of electroplating for jewellery. Jewelers use electroplating as it helps improve the overall appearance and durability of the jewellery. With electroplating, objects are less likely to tarnish over time. Further, many household items in the kitchen are electroplated for prolonged endurance and aesthetics. In kitchenware, electroplating is used for cutlery, pots and pans, and kitchen utensils. Further, the market is moderately competitive. There are few entry barriers in the electroplating market for new entrants. Entry barriers such as the requirement of initial capital investments, moderate competition from existing players, and high technology costs significantly affect the entry decisions of new market players.

Europe Electroplating Market for Jewellery and Personal Goods Application Breakdown – by Region

On-going industrialization, along with the increasing disposable income of people, is fueling the demand for electroplating across various industries. The rise in demand for high-performance products having excellent resistance to corrosion and attractive appearance is driving the demand for electroplating and is likely to continue to drive the market growth in the coming years. Opportunities remain promising across various European economies in line with remarkable growth in the jewellery and personal goods industry. The demand will grow relatively stronger with rising production facilities of various industrial sectors in the region. Moreover, various benefits of the electroplating process are boosting its adoption in various end-use industries. Further, the technological innovations in the field of electroplating are propelling the growth of the Europe electroplating market for jewellery and personal goods application.

ELIX Polymers SL, Dr Hesse GmbH & Cie KG, PRV Engineering Ltd, SAXONIA Galvanik GmbH, Karas Plating Ltd, Dr Ing Max Schlotter GmbH and Co KG, Atotech Deutschland GmbH & Co KG, Allenchrome Electroplating Ltd, Frost Electroplating Ltd, and UK Metal Finishing Ltd. are among the major players operating in the Europe electroplating market for jewellery and personal goods application. Market players are highly focused on developing high-quality and innovative products to fulfill customers’ requirements. Players operating in the market focus on adopting various strategies such as investment in research and development activities, and others. For instance, in July 2023, MKS Instruments announced the release of the Atotech CMA Closed-Loop System for alkaline zinc nickel plating. This technology is certified by TÜV Rheinland, which enables virtually wastewater-free operations while minimizing waste generation and reducing carbon footprint. This technology features compact membrane anodes, custom chemical additives, a vacuum evaporator, and a freezing unit. This results in a significantly reduced environmental impact, a longer lifespan, and enhanced product quality for the electroplating line. In November 2023, Alleima AB, a global manufacturer of high-value-added products in advanced stainless steel and special alloys, announced a plan to expand its operations in Switzerland to meet the growing demand for plated components. Also, in November 2023, Grand Venture Technology announced a plan to acquire surface treatment specialist ACP Metal Finishing for US$ 17 million.

Impact of COVID-19 Pandemic on Europe Electroplating Market for Jewellery and Personal Goods Application

Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in various countries across Europe. The crisis disturbed supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. These disruptions restricted the availability of raw materials. It caused delays in production and increased costs, negatively impacting the electroplating market for jewellery and personal goods applications growth.

In 2021, the marketplace started recovering from the losses as governments of different countries announced the relaxation of the restrictions. Manufacturing activities started rebounding as countries gradually recovered from the pandemic owing to continued focus on vaccination by the masses. Manufacturers were permitted to operate at full capacity. Thus, the Europe electroplating market for jewellery and personal goods application rebounded with increasing demand for different types of jewellery and personal goods.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com