Duplex Nickel Plating Market Projected To Gain Significant Value By 2031

Fact.MR – a market research and competitive intelligence provider, analyses that anti-corrosion plating and improved surface finishing demand is set to register strong growth in the duplex nickel plating business and help the market reach a valuation of US$ 909 Mn by 2031-end.

Globally, the plating business is witnessing an upsurge backed by huge adoption rates showcased by automobile and aerospace industries. The automotive industry offers a wide pool of use cases for duplex nickel plating, and thus, accounted for 65% revenue share in 2020. From motorcycles to cars & trucks, duplex nickel plating is registering strong consumption for its versatility and reliable chemical properties.

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The duplex nickel plating business offers a wide array of products, including hexavalent chrome, nickel trivalent chrome, and nickel microporous chrome, besides others. These product offerings have been deeply acknowledged by the consumer base across the globe for their upper hand in providing the high-end surface finishing.

Global demand for duplex nickel plating is propelled by North America, accounting for notable demand and supply of plating chemicals, followed by Europe and East Asia. Prominent duplex nickel plating manufacturers are positioned in North America, especially the U.S., owing to ease of raw material availability and heightened infrastructural investments.

Key Takeaways from Study

  • The global duplex nickel plating market is anticipated to add 1.7X value by 2031.
  • Decorative segment captures a major chunk in duplex nickel plating, and is set to create an absolute $ opportunity of around US$ 323 Mn over 2021-2031.
  • Among the plating types, bright duplex plating has been the fastest-growing segment, owing to high wear resistance capabilities over others.
  • North America is set to dominate market revenue in 2021, and this regional is expected to expand at 4% CAGR through 2031.
  • Due to the COVID-19 crisis, demand for duplex nickel plating was hit in 2020, which saw a decline of 2% over the 2nd and 3rd quarters.

Main Segments Covered in Duplex Nickel Plating Industry Research

By Type

  • Protective Duplex Nickel Plating
  • Decorative Duplex Nickel Plating

By Coating Material Surface

  • Ferrous Duplex Nickel Plating
    • Steel
    • Stainless Steel
    • Mild steel
    • Carbon steel
    • Cast Iron

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Winning Strategy

Key manufacturers of duplex nickel plating must look forward to increased production capacity and prioritise geographical expansion. Duplex plating manufacturers need to also look for constructive collaborations with plating service providers to secure a stable curve in the business. This shall help their business witness growth in the market over the medium- to the long-term forecast period.

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