Commercial Metal Plating Equipment: Role of Sustainability and Nanotechnology in the Growth of the Industry
Metal plating is one of the most common industrial processes used in various end-use sectors such as automotive manufacturing, semiconductor fabrication, aerospace, oil and gas exploration, and more. It involves the electrochemical application of a thin layer of metallic substance on a metal substrate. Other than the most commonly used electroplating method, anodizing and galvanizing have also become quite popular methodologies to provide a high-class finish to the surface. In recent times, the demand for specialized commercial metal plating equipment and tools increased significantly owing to a rise in consumer demand for customized metal finishes.
In addition, advantages offered by metal plating, such as heat resistance and increased durability, have increased their utility in various industries, especially automotive and aerospace. Studies have also shown that electroplating a metal improves its electrical conductivity significantly. In addition, these processes enhance the aesthetics and appearance of the metal body that is to be plated.
Innovations in commercial metal plating fueling industry growth
As per a recent report published by Allied Market Research, the commercial metal plating market is expected to gather a revenue of $528.9 million by 2032. The industry accounted for $349.3 million in 2022 and is anticipated to rise at a CAGR of 4.3% during 2023-2032. Technological advancements in the field of metal plating are predicted to open new avenues for the growth of the sector. For instance, companies have started investing heavily in innovative equipment to promote eco-friendly metal plating. The amount of carbon emitted by these machines is quite low compared to traditional tools. Also, these devices work on organic and water-based solutions, thus eliminating the need for harmful chemicals.
Also, developments in nanotechnology have also contributed to the growth of the commercial metal plating equipment industry. In the last few years, use of nanotechnology electroplating has increased drastically in the consumer electronics sector. Specialized tools are used to plate highly durable coatings at the atomic level, thus helping create superior surface finishes and increased wear resistance and conductivity. The uniformity in coating layers offered by nanotechnology-powered plating devices has increased their utility significantly. Many leading companies have even started integrating automation solutions and robotics to optimize industry processes and reduce labor costs in the long run.
Strategic alliances among leading companies creating new investment opportunities
In the last few years, several leading companies have established alliances with other companies to expand their footprint in the industry. For instance, in June 2023, AOTCO Metal Finishing, a specialty finishing services provider, announced the acquisition of Modern Metal Finishing (MMF), a metal finishing company based in Connecticut. MMF has been offering its services to various aerospace and defense industries, which has helped it gather a huge revenue share in the industry. This acquisition by AOTCO Metal is expected to help the company address the commercial electroplating demands of its clients, including semiconductor companies, medical device manufacturers, and clean energy suppliers. Matt Smith, AOTCO’s President, highlighted that the alliance is predicted to expand its operations in the Tri-State region, thus augmenting the business’ growth rate.
Similarly, in June 2024, BEP Surface Technologies, a surface finishing specialist, announced that it signed a definitive agreement to acquire Plating Solutions, a metal plating consultancy firm. As per the press release issued by BEP Surface Technologies, this business move is anticipated to enhance the company’s capabilities in the long run. The acquisition aligns with the company’s goals to develop innovative technologies and ultimately improve the quality of its products.
In summary, growth of the commercial metal plating equipment industry is attributed to rise in applications of these tools in different end-use sectors such as automotive and consumer electronics. Innovations and transformative shifts in metal plating technologies are anticipated to help the sector flourish in the coming period.