Global Gold Plating Chemicals Market: Introduction

Gold plating is usually done to give decorative and long-lasting finish to jewelry, cutleries, optical frames, and various other types of surfaces. Gold is also one of the popular choices for plating different electronic components. For instance, gold plating chemicals are often used to coat connectors, circuits, and semiconductors.
The process of depositing a thin layer of gold over another metal for added beauty and durability has been used commercially since the late 1800s. Besides the glamor of having gold detailing or the appearance of solid gold on a piece, gold is plated for industrial purposes and is important for usage in circuit boards.

Types of Gold Plating Chemicals

Based on type, the gold plating chemicals market can be segmented into cleaners, pretreaters, electrolyte solutions, acids, and other additives       
In order to get an electrolyte, the metal has to be in a state where it can disassociate and form ions. Gold is a stable metal and requires harsh chemicals to accomplish this. Usually, gold is complexed with cyanide, called cyanaurate, although techniques using sulfites and thiosulfites exist. Electrolytic solutions include potassium gold cyanide and potassium stannate. Potassium gold cyanide is the most important gold plating chemical. Almost all the gold used for contacts in the electronic industry is derived from potassium gold cyanide. The older route to KAu(CN)2 started with the dissolution of metallic gold in aqua regia. It was followed by a lengthy procedure to replace unwanted chloride ions with cyanide ions and remove excess nitric acid. Some losses of gold compounds were unavoidable and high product purity could not always be assured.
Depending on the type of metal to be plated, treatment may be needed to deposit an intermediate plating metal or smoothen the surface layer for gold deposition. For instance, in plating gold onto a copper alloy, nickel is plated first. It is then followed by gold. Sometimes, other finishes such as chrome need to be removed with a chemical stripping agent.

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Electronics Applications of Gold Plating Chemicals to Drive Market

Most of the electronics used in daily lives contain at least a little bit of gold. While this precious metal is widely known for its beautiful, shiny appearance, it also has quite a few functional purposes that make it useful in various industries.
The electronics sector is the major consumer of gold. Gold plays a critical role in keeping the components of devices functioning properly over time. Electronic parts are not typically made entirely of gold because of the material’s cost. More often, manufacturers use electroplating to apply a thin layer of gold over the main material that comprises the component.
Thus, increase in usage of gold electroplating in the electronics industry is boosting the demand for gold plating chemicals

COVID-19 Impact on Global Gold Plating Chemicals Market

The global coronavirus outbreak is posing severe challenges to the global gold plating chemicals market. Gold plating chemicals are primarily used in the manufacture of electronics. Therefore, decline in sale of electronics is expected to restrain the gold plating chemicals market in the near future. Extension of lockdowns in various countries across the world has led to supply chain disruptions. Thus, in turn, is anticipated to hamper the market in the near future.

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Asia Pacific to Hold Major Share of Global Gold Plating Chemicals Market

Based on region, the global gold plating chemicals market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific held major share of the global gold plating chemicals market in 2019. Increase in demand for consumer electronics has boosted the demand for gold plating chemicals in the region.
A few distributors and manufacturers of gold plating chemicals operate in Latin America; therefore, the region relies on import from other countries in order to cater to the demand for gold plating chemicals

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Key Players in Global Gold Plating Chemicals Market

The global gold plating chemicals market is highly consolidated. Major players operating in the global gold plating chemicals market include:

Johnson Matthey Plc
Technic Inc.
Umicore
Legor Group Spa
Matsuda Sangyo Co., Ltd.
METALOR

Global Gold Plating Chemicals Market: Research Scope

Global Gold Plating Chemicals Market, by Application

Electronics
Jewelry
Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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