Zinc Nickel Alloy Plating Market Size, Share, Growth, and Industry Analysis, By Type (5%-10% Nickel, 12%-15% Nickel and 12%-20% Nickel), By Application (Automobile, Aerospace & Defense, Electrical Transmission and Mechanical parts), and Regional Forecast to 2031

Updated On: 22 April 2024

Zinc Nickel Alloy Plating Market  REPORT OVERVIEW

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The global zinc nickel alloy plating market size was 281.19 million in 2021. As per our research, the market is expected to reach USD 387.05 million by 2027, exhibiting a CAGR of 5.47% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with zinc nickel alloy plating experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Zinc-nickel alloy plating is an electroplating process that involves depositing a layer of zinc-nickel alloy onto the surface of various metal substrates. This plating technique offers unique properties and advantages that make it suitable for a wide range of applications. Zinc-nickel alloy plating is typically composed of a mixture of zinc and nickel. The precise composition can vary, but common formulations include zinc-nickel ratios ranging from 85:15 to 90:10, respectively. The alloy can also include trace amounts of other elements for improved performance.

In aerospace and defense applications, zinc-nickel plating is used to protect critical components, including fasteners, hydraulic fittings, and connectors, from corrosion. Its durability and resistance to harsh conditions make it an essential choice for these industries. Zinc-nickel alloy plating is extensively used in the automotive industry to protect various components, such as brake calipers, fuel systems, fasteners, and chassis parts, from corrosion. It meets the industry's stringent corrosion resistance requirements and contributes to the longevity of automotive components.

COVID-19 IMPACT: Demand Fluctuations resulted in Recession of the Market

COVID-19 had a life changing impact globally. The zinc nickel alloy plating market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected.

The pandemic disrupted global supply chains, affecting the availability of raw materials and chemicals required for the zinc-nickel alloy plating process. Lockdowns, factory closures, and transportation restrictions hindered the movement of goods, leading to supply shortages and delays in production. The pandemic forced companies to postpone or cancel capital-intensive projects, including those that involved surface finishing processes like zinc-nickel plating. This led to reduced orders for plating services.

Many industries that heavily rely on zinc-nickel alloy plating, such as automotive and aerospace, experienced sharp declines in demand during the early stages of the pandemic. Automotive production, for example, saw significant reductions, impacting the demand for plated components. The market is anticipated to boost the zinc nickel alloy plating market share following the pandemic.

LATEST TRENDS

"Growing Demand for Corrosion-Resistant Coatings to Broaden Market Growth"

The need for corrosion-resistant coatings remains a significant driver in the zinc-nickel alloy plating market. Industries such as automotive, aerospace, and oil and gas continue to seek solutions that offer superior protection against corrosion. Ongoing research and development efforts may lead to advancements in zinc-nickel alloy plating technology. These could include innovations in plating equipment, processes, and additives to improve efficiency and quality.

The trend toward providing customized coating solutions to meet specific performance requirements is likely to continue. Some applications require zinc-nickel alloys with higher nickel content to achieve specific performance characteristics. Manufacturers may be developing and offering customized alloy formulations to meet these demands. These latest developments are anticipated to boost the zinc nickel alloy plating market share.

SEGMENTATION

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By Type

Based on type, the market is divided into 5%-10% Nickel, 12%-15% Nickel and 12%-20% Nickel.

By Application

Based on application, market is segmented into Automobile, Aerospace & Defense, Electrical Transmission and Mechanical parts.

DRIVING FACTORS

"Sustainability & Eco-Friendly Practices to Boost Market Share"

Increasing emphasis on sustainability and eco-friendly manufacturing practices encourages the use of zinc-nickel plating as a safer and greener alternative to traditional plating processes. Companies are investing in more sustainable plating solutions. Ongoing research and development efforts aim to enhance plating technology, making it more efficient, cost-effective, and environmentally friendly. Innovations in equipment, processes, and additives contribute to market growth.

"Applications in Multiple Industries to Boost Market Size"

The automotive industry is one of the largest consumers of zinc-nickel alloy plating. With a growing focus on lightweight materials and increased vehicle lifespan, manufacturers use zinc-nickel plating to protect components like brake calipers, fasteners, and chassis parts. The aerospace and defense sectors rely on zinc-nickel plating to protect critical components, fasteners, and connectors used in aircraft and military equipment. The need for corrosion resistance and reliability in these industries drives demand.

The electronics industry uses zinc-nickel alloy plating to protect connectors and components from corrosion, ensuring reliable electrical connections. The proliferation of electronic devices and the expansion of renewable energy applications contribute to demand in this sector. These factors are anticipated to drive the zinc nickel alloy plating market share.

RESTRAINING FACTORS

"Substitute Technologies to Hamper Market Share"

Some industries are exploring alternative technologies and coatings that may offer corrosion resistance comparable to zinc-nickel plating. For example, organic coatings and advanced materials are being considered as alternatives in certain applications. Despite being considered more environmentally friendly than some alternatives, zinc-nickel alloy plating may still raise environmental concerns due to the use of chemicals and energy-intensive processes. This can prompt industries to explore even greener alternatives. The factors are anticipated to hinder the zinc nickel alloy plating market growth.

REGIONAL INSIGHTS

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"North America Holds the Major Share of the Global Market with Robust Automotive Industries"

North America has been a major shareholder in the Zinc Nickel Alloy Plating Market, particularly due to the presence of a robust automotive industry. Both the U.S. have significant automotive manufacturing operations, and Zinc Nickel Alloy Plating is widely used in this sector for corrosion protection of critical components. Additionally, aerospace and defense industries in the region also contribute to the demand for zinc-nickel plating.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• WHW Hillebrand [Germany]
• Gatto Industrial [U.S.]
• Summit Corporation of America [U.S.]
• Dekalb Metal Finishing [U.S.]
• EIC Group [U.S.]
• Shinwa [Japan]
• TWB Finishing [U.S.]
• Columbia Chemical [U.S.]
• Chem Processing Inc. [U.S.]
• Micro Metal Finishing [U.S.]
• GALFA [Italy]
• Pioneer Metal Finishing (PMF) [U.S.]
• MITSUYA CO., LTD [Japan]
• MacDermid Enthone [U.S.]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.