Precious Metal Plating Market Size to 2028 Analysis by Applications

Precious Metal Plating Industry Overview

The global precious metal plating market size is projected to reach USD 312.01 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. Trending design patterns of jewelry & accessories and increasing demand for precious metal jewelry through e-commerce platforms make the market lucrative.

U.S. precious metal plating market size, by product, 2018 - 2028 (USD Million)

Precious Metal Plating Market Segmentation

Grand View Research has segmented the global precious metal plating market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Gold, Silver, Platinum Group Metal (PGM).

  • Gold was the largest segment in 2020 that accounted for a revenue share of over 90%. Gold plating is done in jewelry applications as the plated surface remains bright and attractive for a long time. Gold is alloyed with various metals to obtain different color shades and improve the aesthetics of products. For instance, gold and silver alloys are widely used in the plated jewelry industry to form intermediate coatings, which provide good corrosion resistance.
  • The rise in the price of pure gold and other precious metal fluctuates the demand and supply of gold. In addition, plated jewelry and related items are not expensive compared to pure gold jewelry, hence the rise in consumer preference to purchase plated jewelry being a cost-efficient solution is anticipated to drive the market during the projected timeline.
  • Fashion accessories or jewelry are largely preferred by the young population. These accessories are priced at affordable rates and can also be changed as per the latest trends. The changing outlook of the population toward fashion accessories as a daily wear commodity has boosted the demand for such products. Television shows, movies, fashion bloggers, etc. are influencing the choice of fashion accessories among youth.

Based on the Application Insights, the market is segmented into Jewelry and Fashion Accessories.

  • The jewelry segment accounted for over 82% of the global revenue in 2020. An increase in disposable income coupled with a growth in the young population in countries, such as India and the U.S., is expected to accelerate the demand for jewelry over the forecast period. For instance, the consumer disposable income in the U.S. increased at a significant rate from USD 16.54 trillion in the last quarter of 2019 to USD 17.26 trillion in the last quarter of 2020.
  • The rise in virtual meetings owing to the pandemic has given a push to the “above-the-keyboard-dressing” trend among working women along with the growing acceptance of jewelry among men. Such emerging trends are driving the segment, thus benefitting the overall market growth. The skyrocketing prices of traditional jewelry, whether gold, silver, or platinum, are one of the factors driving the demand for plated jewelry. The use of gold chains and necklaces is no longer limited to weddings and functions, as both men and women wear rings, plain gold chains, anklets, etc. as a fashion statement. This trend in consumer behavior is expected to have a positive effect on market growth.

Precious Metal Plating Regional Outlook             

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

The prominent companies, such as Umicore, MacDermid, Inc., and DuPont, primarily focus on the development in plating solutions for various applications.

Some of the prominent players operating in the global precious metal plating market include,

  • Umicore
  • Bluclad S.p.A.
  • Atotech
  • MacDermid, Inc.
  • METALOR Technologies SA
  • COVENTYA International
  • Italfimet
  • Valmet Plating SRL
  • Krohn Industries, Inc.
  • Gold Plating Services
  • DuPont

Order a free sample PDF of the Precious Metal Plating Market Intelligence Study, published by Grand View Research.  

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