Analysis of Duplex Nickel Plating market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Newly-released duplex nickel plating business analysis by Fact.MR, a market research and competitive intelligence provider, shows global consumption crossing 29 kilo tons by 2021, depicting a 4.5% proliferation as compared to the previous year. In terms of revenue, the market is projected to top US$ 900 Mn mark by 2031-end, leaving US$ 400 Mn room for existing players and new entrants to capitalize.
Demand for decorative duplex nickel plating in the automotive industry has surged year-on-year at 6% in FY2020-FY2021. Increasing demand for wear-resistant, durable, and corrosion-resistant plating in the automotive and aerospace industry will heighten global sales during the forecast period.
In this report, Fact.MR focusses on providing prime insights such as production analysis, utilization rate of duplex nickel plating, consumer analysis with consumption quantity, price optimization across the value chain, and import and export analysis that will assist manufacturers and potential entrants with a clear picture of the duplex nickel plating market.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
As per the duplex nickel plating industry research carried out by Fact.MR, historically, from 2016 to 2020, market value increased at around 4.1% CAGR, wherein, countries such as the U.S., Germany, Russia, U.K., China, Japan, India, and Turkey held significant share in the global market.
With growing usage of duplex plating as decorative and protective plating solutions in automotive, aerospace, and defence end uses, the market is forecast to expand at a moderate CAGR of 5.8% over the coming 10 years.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
The automotive industry has been the bedrock for the growth of the nickel plating business. Over the years, duplex nickel plating has seen an upsurge in its demand backed by the huge automotive industry scattered across the globe.
The industry offers a wide pool of key end uses, including new plating, restoration and protective & decorative covering, which showcases high adoption rates for plating. Even from a small component of a motorcycle to larger components such as bumpers of cars require fine finishing plating services.
Duplex nickel plating vendors deeply acknowledge this requirement and are effectively providing needful solutions. Considering these factors, the business for duplex nickel plating is forecast to expand at a healthy CAGR of 5.8% over the coming 10 years with consumption crossing 30 KT.
Manufacturers are advancing towards effective and reliable duplex nickel plating compositions in order to offer more reliable end uses and are thus witnessing high adoption rates.
On a global scale, it has been observed that the usage of duplex plating for decorative purposes is rising. Automakers such as BMW and Mercedes Benz, among others, are constantly raising demand for improved plating services, and this is attributed to high-end surface finishing, glossy appearance, and scratch-resistant capabilities offered by these plating solutions.
Manufacturers of duplex nickel plating bringing out effective service lineups for end users, including automotive, aerospace, defense, etc., will witness high benchmarks in this dynamic business. Business leaders are looking forward towards adopting constructive collaboration approaches with key plating service providers to increase geographical stability. Even this has helped the market register strong sales by catering to many lucrative opportunities for plating services.
The global plating business is proliferating with a wide pool of plating products and consistently showcasing development to register heightened prominence from the consumer base.
Fact.MR evaluates that nickel-microporous chrome plating demand is constantly driving the wheel of fortune for the global duplex plating business. With demand numbers being close to 6 KT in 2021, are expected to cross 9 KT by 2031.
Reliable application offered by microporous nickel structure in plating lends peculiar advantages, which pushes the business growth towards the positive side of demand graph.
Inception of the nickel microporous discontinuity method in nickel plating has been identified as a market buzz with improved anti-corrosion capabilities, and has taken the market potential to next level. It has been identified that even after nickel chrome plating, products such as nickel-hexavalent and trivalent chrome are still exposed to corrosion after a short period, which raises challenges for key end users.
This issue is now deeply acknowledged through a technique known as the nickel microporous discontinuity method. The main requirement for nickel-chromium coatings was to avoid the corrosion effects over the surface of the component to keep the product durable. But somehow, due to internal stress and heat, chromium layers generate voids, which directly exposes them to corrosive atmosphere.
Intervention of nickel microporous opens the doors to new avenues in the business, leaving behind a bracket of US$ 80 Mn for players to capitalize on.
The global business of duplex nickel plating is witnessing some notable roadblocks with stringent government regulations floating over the plating business arena. Several regulations by EU, OSHA, and EPA, including restricted daily wastewater flow to be less than 38,000 liters to reduce harmful effects, have led to a reduction in plating process output, and are now a matter of concern for duplex plating manufacturers.
Consistently, these regulations are degrading the business potential. Manufacturers are facing challenges in penetrating markets and these regulations are a major roadblock in realizing the potential of the nickel plating market, as per research by Fact.MR.
Apart from regulations, manpower deployed for the nickel plating business is expected to be highly skilled and trained for working in the plating and metal finishing environment. Processes included in plating duplex nickel involve various critical stages, which need to be vigilantly handled and taken care of.
Even the chemicals involved in these plating processes, including nickel and boric acid, cause notable effects on workers’ health if not handled properly. This is creating the need for effective, comprehensive training for workers, cascading the effect to additional cash flow requirements, which raises overall cost of production.
As per Fact.MR’s viewpoint, North America is expected to account for 30% of global duplex plating demand in 2021. In 2020, duplex nickel plating demand in the U.S. grew 2.3% year-on-year, bucking initial scepticism about the business performance during a global pandemic. Across the U.S., total demand for duplex plating reached 8.1 KT in 2020.
The U.S., being the largest business arena from the production and consumption point of view, holds maximum number of key players positioned in the region. Being the most suited region for production with ease of raw material availability, the country is prospering on the demand curve for nickel plating.
Top players operating here account for a high revenue share and have clustered their production bases in the U.S. favouring economies of density.
In 2020, ASEAN accounted for over 13% of South Asia & Oceania duplex nickel plating consumption. The region is expected to experience a heightened CAGR of 6.2% over the assessment timeframe, evaluates Fact.MR.
Countries such as Indonesia and the Philippines hold maximum nickel production share. Indonesia is one of the prominent countries for nickel reserves globally. ASEAN countries are consistently fuelling demand for nickel as key raw materials of duplex nickel plating for end-use industries are positioned across the region.
Japan: Similar to the U.S., Japan has been portraying development trends for duplex nickel plating across different end uses. Manufacturers in Japan are infusing moderate capacity utilisation rates to foster lucrative avenues in the dynamic duplex nickel plating business. Japan accounts almost 4% share in global duplex nickel consumption.
India: The market is witnessing a notable development curve in India with increasing unorganized duplex nickel manufactures clustered here. India showcases a strong value chain for nickel plating and similarly demonstrates heightened consumption potential. India is considered as a rising economy and is portraying strong demand for duplex nickel plating in the swelling automotive sector.
Indonesia: Indonesia is one of the prominent countries for nickel reserves, as it reported 698 Mn tons of nickel deposits in 2019. Thus, Indonesia is efficiently handing its apparent trade potential for nickel with other prominent countries who are into duplex nickel plating production.
Brazil: Brazil has a strong backing for duplex nickel plating owing to its established automotive sector. Brazil is considered as one of the top six prominent car business countries and is consistently maintaining this benchmark in a dynamic business. It is estimated that duplex nickel plating accounts for more than 2% of the global share, and accounted for around US$ 9 Mn in 2020.
As per Fact.MR, decorative nickel plating has gathered sufficient prominence in the business and will continue to showcase positive results in the long run. Key players are trying their best to improve the materialistic properties offered by these decorative plating.
Key manufacturers find automotive as the most lucrative industry for decorative nickel plating. In addition to gaining 141 BPS over 2021-2031, decorative duplex nickel plating is expected to reach a market valuation of US$ 735 Mn by 2031.
Bright nickel is prominently being used in duplex nickel plating and is expanding at a CAGR of 5.5% based on chemical properties and advantages for proving its worth during plating processes.
Industries are now adopting bright nickel chrome plating as the next logical step in their use of plating materials and processes. As a result, bright nickel chrome plating has now been identified as a prime opportunity by plating manufacturers to increase their business potential. This chrome plating is also scratch-resistant and corrosion-resistant, which engages consumers’ attention.
Bright nickel accounted for 54% revenue share in 2020, and is expected to progress at an ascending CAGR of 5.5% during the forecast period. Bright nickel is expected to surpass a valuation of US$ 277 Mn by 2021-end. Innovation over plating composition and plating chemical business shall continue to register heightened growth during forecast period, as evaluated by Fact.MR.
According to the duplex nickel plating market research analysis, Capron Manufacturing, Century Plating Company, Electrochemical Products, Inc. and Elite Finishing, LLC, together accounted for around 35% share of global revenue in 2020. Most companies discussed in the report have focused on expansion, investments, acquisitions, delivery, portfolio expansion, and brand development.
Similarly, recent developments related to companies offering duplex nickel plating have been tracked by the team at Fact.MR, which are available in the full report.
Historical Data Available for
|KT for Volume and US$ Mn for Value|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunitiesBuy Now
Get A Special pricing for start-ups and universitiesEnquiry Before Buying
- Humble, Yet Honored -
- Research Methodology -
An Adaptive Approach to Modern-day Research NeedsGet Methodology
The global duplex nickel plating market is worth more than US$ 493 Mn at present.
Sales of duplex nickel plating are projected to increase at a CAGR of 5.8% during 2021 – 2031.
Value sales of duplex nickel plating increased at a CAGR of 4.1% during 2016 – 2020.
Popularity of nickel microporous chrome is one of the key trends being observed in the market.
Growing demand for duplex nickel plating as a decorative plating has increased the heightened sales bar for the market.
Top 6 manufacturers of duplex nickel plating account for around 35% share in the market, as per ratings on the basis of market share, market reach, clientele, etc.
Top 5 countries driving demand for duplex nickel plating are the U.S., Germany, China, India, and Russia.
North America accounted for over 29% of global duplex nickel plating demand in 2020.
The European market for duplex nickel plating is projected to expand at a CAGR of 5.2% during 2021 – 2031.
The United States, Russia, Germany, and China are prominent producers of duplex nickel plating.
The market in South Korea and Japan is set to expand at 5.5% and 5.8% CAGRs, respectively, with both countries accounting for 35% share in the East Asia market.
Need An Exclusive Report For Your Unique Requirement?