Global Gold Plating Chemicals Market: Introduction
- Gold plating is usually done to give decorative and long-lasting finish to jewelry, cutleries, optical frames, and various other types of surfaces. Gold is also one of the popular choices for plating different electronic components. For instance, gold plating chemicals are often used to coat connectors, circuits, and semiconductors.
- The process of depositing a thin layer of gold over another metal for added beauty and durability has been used commercially since the late 1800s. Besides the glamor of having gold detailing or the appearance of solid gold on a piece, gold is plated for industrial purposes and is important for usage in circuit boards.
Types of Gold Plating Chemicals
- Based on type, the gold plating chemicals market can be segmented into cleaners, pretreaters, electrolyte solutions, acids, and other additives
- In order to get an electrolyte, the metal has to be in a state where it can disassociate and form ions. Gold is a stable metal and requires harsh chemicals to accomplish this. Usually, gold is complexed with cyanide, called cyanaurate, although techniques using sulfites and thiosulfites exist. Electrolytic solutions include potassium gold cyanide and potassium stannate. Potassium gold cyanide is the most important gold plating chemical. Almost all the gold used for contacts in the electronic industry is derived from potassium gold cyanide. The older route to KAu(CN)2 started with the dissolution of metallic gold in aqua regia. It was followed by a lengthy procedure to replace unwanted chloride ions with cyanide ions and remove excess nitric acid. Some losses of gold compounds were unavoidable and high product purity could not always be assured.
- Depending on the type of metal to be plated, treatment may be needed to deposit an intermediate plating metal or smoothen the surface layer for gold deposition. For instance, in plating gold onto a copper alloy, nickel is plated first. It is then followed by gold. Sometimes, other finishes such as chrome need to be removed with a chemical stripping agent.
Electronics Applications of Gold Plating Chemicals to Drive Market
- Most of the electronics used in daily lives contain at least a little bit of gold. While this precious metal is widely known for its beautiful, shiny appearance, it also has quite a few functional purposes that make it useful in various industries.
- The electronics sector is the major consumer of gold. Gold plays a critical role in keeping the components of devices functioning properly over time. Electronic parts are not typically made entirely of gold because of the material’s cost. More often, manufacturers use electroplating to apply a thin layer of gold over the main material that comprises the component.
- Thus, increase in usage of gold electroplating in the electronics industry is boosting the demand for gold plating chemicals
COVID-19 Impact on Global Gold Plating Chemicals Market
- The global coronavirus outbreak is posing severe challenges to the global gold plating chemicals market. Gold plating chemicals are primarily used in the manufacture of electronics. Therefore, decline in sale of electronics is expected to restrain the gold plating chemicals market in the near future. Extension of lockdowns in various countries across the world has led to supply chain disruptions. Thus, in turn, is anticipated to hamper the market in the near future.
Asia Pacific to Hold Major Share of Global Gold Plating Chemicals Market
- Based on region, the global gold plating chemicals market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific held major share of the global gold plating chemicals market in 2019. Increase in demand for consumer electronics has boosted the demand for gold plating chemicals in the region.
- A few distributors and manufacturers of gold plating chemicals operate in Latin America; therefore, the region relies on import from other countries in order to cater to the demand for gold plating chemicals
Key Players in Global Gold Plating Chemicals Market
- The global gold plating chemicals market is highly consolidated. Major players operating in the global gold plating chemicals market include:
- Johnson Matthey Plc
- Technic Inc.
- Legor Group Spa
- Matsuda Sangyo Co., Ltd.
Global Gold Plating Chemicals Market: Research Scope
Global Gold Plating Chemicals Market, by Application
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.