1 Global Nickel Plating Market Size (Value) and CAGR (2024-2033)
In 2024, the global Nickel Plating market was valued at USD 3074.79 million, with a CAGR of 5.19% from 2024 to 2033.
The method of plating a layer of nickel on metal or some nonmetals by electrolysis or chemical method is called nickel plating. Nickel plating is divided into electroless nickel plating and electro nickel plating.
Nickel plating provides a unique combination of corrosion and wear resistance. It can add brightness, luster and appeal. It also provides excellent adhesion properties for subsequent coating layers.
Figure Global Nickel Plating Market Size (M USD) and CAGR 2024-2033
2 Nickel Plating Market Drivers
Nickel plating is renowned for its superior corrosion and wear resistance, making it an ideal protective and decorative coating for a wide range of materials. This process enhances the durability and longevity of industrial parts, thereby reducing maintenance costs and improving operational efficiency. For instance, electroless nickel plating is particularly effective for coating complex and irregularly shaped objects, ensuring uniform coverage and enhanced protection. The ability of nickel plating to replace stainless steel in many applications also contributes to cost savings for businesses, further driving its market demand.
The electronics industry is a major driver of the nickel plating market. With the rapid advancement of consumer electronics and the increasing reliance on electronic products globally, the demand for reliable and high-performance components has surged. Nickel plating is extensively used in electronic components such as connectors, contacts, microprocessors, and integrated circuits, ensuring their functionality and reliability.
Nickel plating finds extensive use in various sectors, including automotive, aerospace, national defense, electronics, oil & gas, and precision machinery. In the automotive industry, nickel plating enhances the corrosion resistance and aesthetic appeal of vehicle components. In aerospace, it is crucial for manufacturing complex engine parts and ensuring the safety and reliability of aircraft components.
3 Nickel Plating Market Challenges
The nickel plating market is highly competitive, with numerous players vying for market share. The widespread availability of nickel plating technology has led to a large number of enterprises entering the market, resulting in intense competition. This competition not only affects pricing strategies but also puts pressure on companies to continuously improve their product quality and service offerings. As the market matures, the added value of processed products decreases, making it essential for companies to differentiate themselves through innovation and superior customer service.
Environmental regulations are becoming increasingly stringent worldwide, posing significant challenges for the nickel plating industry. The electroless nickel plating process, in particular, involves the use of high concentrations of nickel salts, reducing agents, and complexing agents, which can be difficult to treat and dispose of safely. The presence of complexing agents in the plating solution complicates the removal of nickel and other metal ions from waste liquids, often resulting in incomplete treatment. Small and medium-sized enterprises (SMEs) with limited treatment capabilities may need to outsource waste treatment, incurring additional costs and increasing their overall operational expenses.
4 Global Nickel Plating Market Size and Share by Type in 2024
In 2024, the market size for Electroless Nickel Plating is projected to reach $1,091.12 million, while Electro Nickel Plating is expected to account for $1,983.70 million.
Electroless nickel plating is an innovative process that deposits a uniform layer of nickel-phosphorus alloy onto a substrate without the need for an external electric current. This autocatalytic reaction ensures that even complex and irregularly shaped objects receive a consistent coating, making it highly suitable for applications where precision and uniformity are critical. The phosphorus content in the deposit, which can range from 2% to 14%, significantly enhances the mechanical, thermal, and electrical properties of the coating.
Electro nickel plating, also known as electroplating, relies on an electric current to deposit a layer of nickel onto a conductive surface. This process requires an electrolyte solution and an external power source to drive the deposition, resulting in a bright and uniform finish.
Table Global Nickel Plating Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
Electroless Nickel Plating | 1091.12 | 35.49% |
Electro Nickel Plating | 1983.7 | 64.51% |
5 Global Nickel Plating Market Size and Share by Application in 2024
Nickel plating finds extensive use across multiple industries due to its superior corrosion and wear resistance, as well as its aesthetic appeal. In the automobile industry, nickel plating is crucial for enhancing the durability and appearance of vehicle components. The $654.93 million market size reflects its significant role in protecting parts from wear and corrosion, thereby extending their lifespan and reducing maintenance costs.
In the aerospace sector, nickel plating is essential for manufacturing complex engine parts and ensuring the safety and reliability of aircraft components. The $253.06 million market size underscores its importance in providing high-performance coatings that can withstand harsh operational conditions.
For national defense, nickel plating is used to protect critical equipment from corrosion and wear, ensuring operational readiness and reliability. The $133.45 million market size highlights its strategic importance in maintaining the durability and functionality of defense-related hardware.
In the electronics & telecommunications industry, nickel plating is vital for ensuring the functionality and reliability of electronic components. The $881.85 million market size reflects its widespread use in connectors, contacts, microprocessors, and integrated circuits, where its corrosion resistance and electrical conductivity are highly valued.
In the oil & gas industry, nickel plating is used to protect equipment from harsh chemical environments and to enhance wear resistance. The $225.07 million market size indicates its significance in ensuring the longevity and reliability of components exposed to corrosive fluids and abrasive conditions.
For precision machinery, nickel plating is crucial for maintaining the accuracy and longevity of precision parts. The $496.89 million market size highlights its role in providing high-quality coatings that enhance performance and reduce wear.
Table Global Nickel Plating Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
Automobile | 654.93 | 21.30% |
Aerospace | 253.06 | 8.23% |
National Defense | 133.45 | 4.34% |
Electronics & Telecommunications | 881.85 | 28.68% |
Oil & Gas | 225.07 | 7.32% |
Precision Machinery | 496.89 | 16.16% |
Housewear & Furnishings | 261.05 | 8.49% |
Others | 168.50 | 5.48% |
6 Global Nickel Plating Market Size by Region in 2024
The Asia-Pacific region is the largest market for nickel plating, projected to reach $1,304.02 million in 2024. This region’s dominance is driven by rapid industrialization, particularly in countries like China, Japan, and South Korea, where demand for high-quality coatings in automotive, electronics, and aerospace industries is high. The region’s economic growth and expanding manufacturing base continue to fuel the demand for nickel plating services.
North America follows with a market size of $832.96 million. The region’s robust automotive, aerospace, and defense industries drive the demand for nickel plating. The United States, in particular, is a major consumer of nickel plating services, with significant applications in both decorative and functional coatings.
Europe accounts for $761.32 million of the market. The region’s strong automotive and aerospace sectors, along with its focus on high-quality manufacturing, contribute to the significant demand for nickel plating. Countries like Germany, the UK, and France are key markets within Europe, driven by their advanced industrial bases and stringent quality standards.
Figure Global Nickel Plating Market Share by Region in 2024
7 Major Players in Global Nickel Plating Market
7.1 Collini
Company Profile: Collini, founded in 1898, is a leading group company in Europe specializing in surface coating of metals and plastics. Headquartered in Austria, Collini operates 15 production sites across Austria, Germany, Italy, Russia, Mexico, and Switzerland. The company is renowned for its comprehensive coating solutions, including electroplating, anodizing, hot-dip galvanizing, and organic coating.
Business Overview: Collini has over 120 years of experience in surface treatment, making it a highly specialized industrial company. Its competence center covers the entire coating solution, providing logistics and support services to complete the product portfolio. Collini’s products are widely used in automotive, vehicle technology, pipeline, construction, furniture, electronics, electrical engineering, wind power, and safety technology.
Product Offered: Collini offers a wide range of nickel plating products, including electroless nickel plating and electro nickel plating. These coatings are used for various applications, such as decorative parts, operating elements, accessories, home electronics, brake and clutch components, fuel pumps, pump casings, turbo compressor technology, gear parts, chassis systems, rivets, crimped sheet metal parts, locking and locking systems, ball valves, energy technology, accessories, pipelines, and tool components.
Recent Financial Data: In the most recent year, Collini reported a revenue of $41.80 million, with a gross profit of $12.54 million.
7.2 Kanigen Works Benelux
Company Profile: Established in 1959, Kanigen Works Benelux is a leading provider of electroless nickel plating services. Headquartered in Belgium, the company specializes in the electroless surface treatment of technical products, offering a wide range of electroless nickel variants, including Kanigen® nickel, electroless nickel on aluminum, and electroless hard nickel.
Business Overview: Kanigen Works Benelux is known for its commitment to providing excellent service and high-quality electroless nickel plating solutions. The company’s expertise lies in offering customized solutions tailored to the specific needs of its clients. Its services are widely used in the automotive, aerospace, and industrial sectors, where high precision and durability are required.
Product Offered: Kanigen Works Benelux offers a variety of electroless nickel plating products, including electroless Kanigen® nickel, electroless nickel on aluminum, electroless amagnetic nickel (high phosphorous), electroless nickel (low phosphorous), electroless hard nickel, electroless nickel with PTFE, electroless black nickel (mat), diffused electroless nickel, and electroless nickel Plus (for soldering applications).
Recent Financial Data: In the most recent year, Kanigen Works Benelux reported a revenue of $29.08 million, with a gross profit of $8.28 million.
7.3 Valence Surface Technologies
Company Profile: Founded in 1957, Valence Surface Technologies is a full-service surface finishing company specializing in the commercial aerospace, defense, space, and satellite industries. Headquartered in the USA, Valence operates ten strategically located sites across the United States, providing comprehensive surface treatment solutions.
Business Overview: Valence Surface Technologies is recognized as the world’s largest independent aerospace surface finishing company. The company offers a wide range of services, including non-destructive testing (NDT), chemical processing, plating, painting, and sub-assembly. Its expertise in providing start-to-finish solutions makes it a preferred choice for major aerospace and defense companies.
Product Offered: Valence Surface Technologies offers a variety of nickel plating products, including electroless nickel plating and electro nickel plating. These coatings are used in various applications, such as aerospace components, defense equipment, and commercial products, where high corrosion resistance and durability are essential.
Recent Financial Data: In the most recent year, Valence Surface Technologies reported a revenue of $25.41 million, with a gross profit of $7.89 million.