Nickel plating Market: Introduction
- Nickel plating is a surface finishing process that enhances the appearance, extends the life, and improves the performance of the material in various harsh environments
- The technology of nickel plating has been extensively developed during last 50 years. Customization to a specific need to enhance esthetic appearance and durability could be met by modifying the composition of the electrolyte and operating conditions.
- Nickel plating is employed to enhance the utility, value, and appeal of consumer goods; it also improves durability and resistance to wear, heat, or corrosion
- Nickel-based plating improves functional properties such as excellent corrosion protection, hardness as well as uniform layering on complex structure
Key Drivers & Restrains of Nickel Market
- Rapid urbanization coupled with higher disposable income has fueled the demand for nickel plating in the automotive industry. According to OICA, sales of automobiles increased from 88 million to 96 million in 2018. Nickel plating in automobiles increases the durability, which in turn is boosting the nickel plating market in the automotive industry.
- The global electronics industry has been expanding significantly for the last decade, due to improvement in standard of living and rise in disposable income of consumers across the globe. Demand for portable electronics has been increasing rapidly in developing and developed nations. Nickel plating is primarily used in connectors, microprocessors, and integrated circuits helping its functionality and reliability. This, in turn, is expected to boost the nickel plating market.
- Highly skilled manpower and cost associated with the process are expected to hamper the nickel plating market
COVID-19 Impact Analysis
Governments of several countries have imposed strict lockdown as precaution for COVID-19. This affected numerous industries including the plating industry as well. The automobile industry took a hit, which also hampered the demand for nickel plating in this sector. However, demand for electronic goods kept on increasing, which is likely to boost the nickel plating market. The aviation industry was severely affected. Nickel plating used in coating compressor blades, landing gear and other essential structures of aircraft, which provides durability and reliability. Shutdown due to lockdown halted new orders of planes and commercial jet. This, in turn, is expected to restrain the consumption of nickel in aviation industry and subsequently, hamper the nickel plating market.
Electroless Nickel Plating Segment to Hold Major Share of Global Market
- The global nickel plating market can be segmented based on process, application, and region
- Based on process, the global nickel plating market can be segregated into bright nickel plating, electroless nickel plating, and dull nickel plating
- Electroless nickel plating is the first choice for critical materials susceptible to corrosion in harsh environments, such as in automotive fuel systems, transmission parts, and braking systems. In the aviation industry, electroless plating is extensively utilized for coating electrohydraulic servo valves, making it a major segment of the market.
- Surface Technology, INC patented One-Plate, a product which is a breakthrough innovation in electroless nickel plating. This uses just one component instead of the decades old practice of three components. It was introduced in 2018. This breakthrough offers numerous environmental benefits including the lower nickel concentration in wastewater significantly.
Asia Pacific to Hold a Major Share of nickel plating Market
- In terms of region, the nickel plating market can be divided into Latin America, Asia Pacific, Europe, North America, and Middle East and Africa
- Rise in urbanization coupled with increased disposable income has fueled the demand for electronic products and consumer goods in emerging economies. This, in turn, increased the consumption of nickel plating in various sectors across manufacturing, engineering, automotive, and aviation. Furthermore, it has increased the demand for nickel plating in Asia Pacific. Additionally, China being the major consumer of nickel plating in 2020 makes Asia Pacific a prominent region of the global nickel plating market.
- The aviation industry in China and India is likely to expand owing to an increase in disposable income of the majority of the population. This is projected to boost the airline industry significantly. Furthermore, consumption of nickel for plating in the aviation industry is also estimated to rise proportionally, as it is extensively utilized to coat surfaces of airplanes and commercial jets. This, in turn, is anticipated to propel the nickel plating market in Asia Pacific.
- The EU Water Framework Directive and other legislation have implemented stringent rules and regulation in the coating industry that encouraged the use of environment-friendly nickel plating, which is anticipated to boost the nickel plating market in Europe during the forecast period
Key Players Operating in Global Market
Leading companies operating in the nickel plating market includes:
- Advanced Plating Technologies
- Ashford Chroming Services Limited
- KCH Services Inc.
- KC Jones Plating Company
- Coastline Metal Finishing
- Select-Tron Industries, Inc
- American Plating Company
- EMIRFI Shield Plating Inc
- Hydro-Platers, Inc.
- ELECTROLESS NICKEL TECHNOLOGIES INC
Nickel Plating Market, by Process
- Bright Nickel Plating
- Electroless Nickel Plating
- Dull Nickel Plating
Nickel Plating Market, by Application
- Automotive Industry
- Plating Plastics.
- Aerospace Industry.
- Electronics Industry.
Nickel Plating Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.