Duplex Nickel Plating Market
Duplex Nickel Plating Market Analysis By Type (Protective, Decorative Duplex Nickel Plating), By Coating Material Surface (Ferrous, Non-Ferrous), By Plating Type, By Product, By Brightening System, By Plating Bath, By End Use & Region - Global Market Insights 2023 to 2033
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
Duplex Nickel Plating Market Growth Outlook (2023-2033)
The global duplex nickel plating market is valued to be US$ 576.9 million in 2023 and it is anticipated to grow at a CAGR of 5.8% to reach US$ 1,013.9 million by the end of 2033.
Duplex nickel plating is a kind of defensive coating that is electroplated on numerous surfaces such as metals and non-metals. It is used for a variety of purposes, not only for corrosion protection but also for decorative purposes. Growing demand for durable, wear-resistant, and corrosion-resistant coatings in the automotive industries to boost the global demand.
Duplex Nickel Plating Market Size (2022A)
US$ 545.3 Million
Estimated Market Value (2023E)
US$ 576.9 Million
Forecasted Market Value (2033F)
US$ 1,013.9 Million
Global Market Growth Rate (2023-2033)
North America Market Share (2023)
East Asia Market Growth Rate (2023-2033)
Key Companies Profiled
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Consumption Analysis for the Duplex Nickel Plating
Duplex nickel plating is used in a variety of end-use industries including electronics, oil & gas, steel, and others increasing the demand for the product. With the increasing use of duplex plating as a decorative and protective plating solution in automotive, aerospace, and defense end-uses, the duplex nickel plating market is expected to grow at a 5.8% CAGR.
- Short Term (2023-2026): The use of duplex nickel plating for decoration purpose is expected to boost the demand for duplex nickel plating during the short-term.
- Medium Term (2026-2029): Growing automotive industry across the globe especially in emerging economies such as China, Brazil, and India to drive duplex nickel plating market.
- Long Term (2029-2033): Manufacturers are adopting ground-breaking strategies to curb the demand pool and gain high profit margins is likely to drive duplex nickel plating market in a long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.8% CAGR between 2023 and 2033.
Market Dynamics Overview
“Increase in Demand for Duplex Nickel Plating from Automotive Industry”
The automotive industry is considered one of the key factors for the growth of the duplex nickel plating business. Over the years, double nickel plating has witnessed increasing demand supported by the automotive industry worldwide. The industry offers a wide range of major end uses with high acceptance rates for coatings such as new coatings, restorations, and protective & decorative coverings. From small parts on motorcycles to large parts such as car bumpers, fine finishing is required.
Across the globe, the application of duplex coatings for decorative purposes is increasing. Automakers such as BMW and Mercedes-Benz are constantly increasing their demand for improved coating services. This is due to the high-quality surface finish, glossy appearance, and scratch resistance of these coating solutions.
Manufacturers are moving to more effective and reliable duplex nickel plating formulations to mimic more reliable end uses and are seeing high adoption rates for duplex nickel operations.
Manufacturers in the duplex nickel plating business experience the benchmarks of this dynamic business, effectively serving end users including automotive, aerospace, and defense. The company leader looks forward to working with the leading coating service provider to introduce constructive approaches to increasing geographic stability.
“Requirement of Highly Skilled Workers and Alternatives to Nickel Plating Restrict the Growth of the Market”
One of the major challenges facing the global duplex nickel plating market expansion is the difficulty in leveling the nickel plating surface. In addition, two-phase nickel plating requires highly skilled technicians further restricting the growth of the market.
Substitution of duplex nickel plating such as chrome plating also available in the market coupled with EU and EPA restrictions on various materials used in duplex nickel plating may also impede the expansion of the duplex nickel plating market.
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What are the Factors Driving Duplex Nickel Plating Demand Across India?
India is considered a developing country and shows strong demand for duplex nickel plating because of the growing automotive sector. The market is on an impressive trajectory in India, with more and more unregulated duplex nickel producers accumulating here. India shows a strong nickel-plated value chain and similarly exhibits heightened consumption potential.
With the growing automotive sector in India, the demand for bright finishes on interior and exterior parts and other components of vehicles, accelerate the demand for the product.
Why is the Japan Duplex Nickel Plating Market Expected to Be Highly Lucrative?
Japan has shown development trends in duplex nickel plating for various end uses. Japanese manufacturers are introducing moderate operating rates to promote profitable means in the vigorous duplex nickel plating professional. Further, Japan has strong backing for duplex nickel plating owed to its proven aerospace sector across the region.
This is to help the company witness the growth of the duplex nickel plating market over the medium to the long-term forecast period.
Why Bright Plating Type Holds Lucrative Avenues for Duplex Nickel Plating Manufacturers?
Bright nickel is mainly utilized in duplex nickel plating. It relies on chemical properties and benefits to prove its worth during the plating process increasing the demand for the product in the coming years.
The industry is now implementing bright nickel chrome plating as the subsequent rational step in the use of plating materials and processes. As a consequence, bright nickel chrome plating is now being recognized by electroplating manufacturers as a great opportunity to increase their trade potential. This chrome plating is corrosion-resistant and highly scratch-resistant, attracting consumer attention.
Why is the Duplex Nickel Plating most used for Decorative Purposes?
Decorative nickel plating has gained sufficient importance in the industry and will continue to achieve positive results in the long term. Further, major manufacturers regard the automotive industry as the most lucrative industry for decorative nickel plating.
The largest use of nickel plating on plastics in the automotive industry is for decorative purposes to improve the look of the exterior and interior portions for instance wheels, light surrounds, shift knobs, grills, bumpers, door handles, and others.
As for decorative applications, nickel and nickel-chromium plating are used to enrich the appearance of plastic covers for computers and mobile phones, and various switches, and buttons in various home appliances and other electrical appliances.
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Eminent Player’s Key Stratagems
Prominent duplex nickel plating manufacturers are Atlas Chrome Plating and Powder Coating, Auromex, Capron Manufacturing, Century Plating Company, Eastern Plating LLC, Electrochemical Products, Inc, Elite Finishing, LLC, Highnic group, Hohman Plating, Leonhardt Plating Company, Metal Plate Polishing Inc, and Transcend Chrome Inc.
Companies seek better R&D opportunities to make their products more unique and focus on joint R&D efforts to create future growth opportunities. The companies are focusing on partnerships that accelerate innovation while managing risk and are pursuing a strategy to expand their operations globally.
Fact.MR has provided detailed information about the price points of key manufacturers of duplex nickel plating positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Duplex Nickel Plating Industry Research
By Type :
By Coating Material Surface :
- Ferrous Duplex Nickel Plating
- Stainless Steel
- Mild steel
- Carbon steel
- Cast Iron
- Non-Ferrous Duplex Nickel Plating
- Ferrous Duplex Nickel Plating
By Plating Type :
- Mirror Bright
- Semi Bright
By Product Type :
- Nickel-Trivalent Chrome
- Nickel-hexavalent Chrome
- Nickel-Microporous Chrome
By Brightening System :
- Sulfur Containing
- Sulfur Free
By Plating Bath :
- Watt Bath
- Wood Bath
- Electroless Plating
By End Use :
- Automotive Duplex Nickel Plating
- Front Fork Inner Tubes
- Shock Absorber Piston Rods
- Hydraulic Pistons
- Exhaust Pipes
- Cars & Trucks
- Fuel Systems
- Braking Systems
- Drive Shafts
- Aerospace & Defense Duplex Nickel Plating
- Industrial Fasteners & Tools Duplex Nickel Plating
- Automotive Duplex Nickel Plating
By Use Case :
- New Duplex Nickel Plating
- Duplex Nickel Restoration
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The global duplex nickel plating market size reported by Fact.MR for 2022 was US$ 545.3 million.
The duplex nickel plating market size is estimated to reach US$ 576.9 million in 2023.
The projected CAGR for the duplex nickel plating market from 2023 to 2033 will be 5.8%.
The decorative segment type will garner a significant value share by 2023.
Market players include Atlas Chrome Plating and Powder Coating, Capron Manufacturing, and Electrochemical Products, Inc. are majorly operating and dominating in the market.