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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Main Segments Covered in Duplex Nickel Plating Industry Research
- Protective Duplex Nickel Plating
- Decorative Duplex Nickel Plating
By Coating Material Surface
- Ferrous Duplex Nickel Plating
- Stainless Steel
- Mild steel
- Carbon steel
- Cast Iron
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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 quarte
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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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