Global Precious Metal Plating Market Size To Worth USD 351.8 Million By 2033 | CAGR of 5.05%
Category: Advanced MaterialsGlobal Precious Metal Plating Market Size To Worth USD 351.8 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Precious Metal Plating Market is to Grow from USD 215.04 Million in 2023 to USD 351.8 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.05% during the projected period.
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Browse key industry insights spread across 230 pages with 115 Market data tables and figures & charts from the report on the "Global Precious Metal Plating Market Size, Share, and COVID-19 Impact Analysis, By Product (Gold, Silver, and Platinum Group Metals), By Application (Jewellery, Fashion Accessories, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/precious-metal-plating-market
Precious metals are naturally occurring chemical compounds known for their uniqueness, high economic value, and gleaming appearance. The growing global demand for a wide range of applications, including jewellery manufacturing, automated production, and medical appliances, has the potential to boost the precious metal plating market. Precious metals such as gold, silver, platinum, and palladium are extremely important in MEMS fabrication due to their exceptional conductivity, oxidation resistance, and chemical resistance, which can help to increase market value over the forecast period. Recent advances in precious metal plating methods, such as electroplating, electroless plating, and physical vapor deposition, have created new opportunities for the aerospace industry to grow. However, increased demand for lab-grown diamond jewellery could restrict market growth.
The gold segment dominates the market during the forecast period.
Based on the product, the global precious metal plating market is divided into gold, silver, and platinum group metals. Among these, the gold segment dominates the market during the forecast period. Gold is a precious metal that many people associate with increased monetary value and aesthetic appeal. Furthermore, gold exhibits a number of properties that can protect and expand the life of industrial products. Gold plating can be the best option for producing projects that require the highest durability against corrosion. An electroplated gold coating can make the substance's outer layer more resistant to dings, scratches, and normal wear. Although gold plating is more expensive than other metal finishing methods, it often provides the highest potential return on investment.
The jewellery segment had the highest market share throughout the forecasted time period.
Based on the application, the global precious metal plating market is divided into jewellery, fashion accessories, and others. Among these, the jewellery segment had the highest market share throughout the forecasted time period. Plated jewellery along with accessories is less expensive than real gold jewellery, so an upsurge in consumer demand for plated jewellery, as well as rising sales of similar items through online retailers, is expected to fuel segment growth. The global epidemic's rise in the use of online meetings has contributed to the "above-the-keyboard-dressing" trend among working women, as well as men's growing acceptance of jewellery. Such emerging trends propel the segment, thereby contributing to overall market growth.
Asia-Pacific is having the biggest share of the global precious metal plating market over the forecast period.
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The rising demand for jewellery products in China and India boosts precious metal sales in the region. The Asia Pacific region's easy availability to starting supplies and low-cost labor has made it an increasingly appealing destination for production facilities and jewellery manufacturers, the primary buyers of precious metals. Furthermore, considerable advancements in design technology for adaptable jewellery products on online platforms have assisted market expansion tremendously. The pandemic's influence on consumer disposable income and sentiment increased demand even more, particularly in discretionary categories like as jewellery and fashion accessories.
Europe is predicted to grow fastest pace throughout the forecast period. The expansion of e-commerce platforms for purchasing jewellery is propelling the market ahead. Major and medium firms now have visually appealing and sophisticated websites and e-commerce shops. Leading jewelers are establishing successful online sales strategies that incorporate advanced technology and digital marketing. High demand for jewellery ornaments and rising consumer disposable incomes have all contributed to the region's need for precious metal plating.
Major vendors in the global precious metal plating market include, MacDermid, Inc, METALOR Technologies SA, Coventya International, Italfimet, Valmet Plating SRL, Krohn Industries, Inc, Gold Plating Services, DuPont, Umicore, Bluclad S.p.A, Atotech, Peninsula Metal Finishing, Alcaro and Alcaro Plating Co, Accurate Perforating Co, and Others.
Recent Developments
- In August 2024, Umicore Group, a global leader in metal recycling, offers a large inventory of totally reused precious metals under the brand Nexyclus.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global precious metal plating market based on the below-mentioned segments:
Global Precious Metal Plating Market, By Product
- Gold
- Silver
- Platinum Group Metals
Global Precious Metal Plating Market, By Application
- Jewellery
- Fashion Accessories
- Others
Global Precious Metal Plating Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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