In an interview, Gautam Kumar Bhalotra, Managing Director, Plating Sheen Chem (India) Pvt Ltd (PCI Chemicals) with Chemical Today Magazine mentions how electroplating chemicals have evolved and that the country has become self-sufficient in the segment.
By Debarati Das
Trends, market potential in the electroplating chemicals industry.
The global electroplating chemicals industry is expected to increase, as significant opportunities for growth exist in the growing/emerging markets. The global electroplating market was valued above $14,540.5 million in 2016 and is expected to expand at a CAGR of 3.7 percent to cross $21,160.0 million by the end of 2026.
The electroplating industry in India has become self-sufficient, attaining world standard through its technical prowess. It has evolved to become a major hub in the South West Asian regions. Rising demands for consumer goods, which mandates more surface finishing services, growing demand for automobiles, fashion and hardware, robust growth of electronic industry are some of the key factors.
The Indian electroplating chemicals industry not only fulfils the domestic rising demands but it has grown to influence the markets all over the world, particular countries such as Bangladesh, Pakistan, Sri Lanka, as well as parts of Asean & Middle East, Africa and Latin America.
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