The FMI projects that the gold plating chemicals market will reach US$ 467.1 million in 2023. By 2033, the market is anticipated to increase to US$ 703.8 million. For the foreseeable period, the market is secured a CAGR of 4.5%.
Trends in the Global Gold Plating Chemicals Market
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.
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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.
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
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Gold Plating Chemicals Market 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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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