May 22, 2020
As per the report titled ‘Plating on Plastics (POP) Market Size By Finish, By Plastic, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global plating on plastics (POP) market is estimated to register a healthy growth rate between 2020-026.
Global plating on plastics market is primarily driven by the surging demand for lightweight metals alternatives across automotive and electronics industries. Plating on plastics refers to plastic surfaces plated with metals such as nickel, chrome, gold, copper, and silver. While compounded plastic boasts of properties like lightweight, corrosion & chemical resistance, strength and moldability to any shape; plating enhances the overall aesthetics.
Based on the type of finish, chrome segment is projected to grow with a CAGR of 6.8% throughout the forecast duration. Beneficial attributes including rust resistance, good surface finish, and aesthetic appeal are fueling the adoption of chrome plating to produce entities with reflective, sleek, and modern feel.
Whereas, copper segment is poised to expand at 6.9% CAGR through 2026, owing to escalating demand of copper plating from electronics and electrical industries due to its high thermal conductivity and comparatively low cost than silver and gold.
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Speaking of the plastic type, PBT segment is estimated to register a CAGR of 5.8% during the forecast years. PBT is extensively used across automotive industry for applications like bumpers, airbags, seat belts, door & seat assemblies, subsystems, exterior trim, and under-bonnet components. It is also known re limiting the risk of explosion on account of product characteristics like energy absorption, lightweight, and shock absorption.
Likewise, PEEK segment is slated to record 5.6% CAGR over the study period, owing to rapid growth of automotive industry. PEEK is the preferred substitute for metal to reduce the overall weight of vehicle, as it is efficient and eco-friendly.
Elaborating on the application spectrum, electrical & electronics segment accounted for 7% of total plating on plastics market share in the recent past and is anticipated to witness modest growth over the forecast timeline. Plating on plastic is widely applied for manufacturing electronic components and accessories. Widespread use of nickel as well as nickel-chromium plating for improving the appearance of plastic trim on mobile phones & computers as well as control knobs, buttons and switches on numerous home electric appliances and electronics is stimulating the segment growth.
As per the regional analysis, plating on plastics market in LATAM is projected to expand at 7% CAGR through 2026. On the other hand, MEA market accounted for 2.1% of global revenue share in past year and is expected to show modest growth over the analysis timeline, owing to increasing expenditure in construction sector and rising government investments towards infrastructure development.
Major industry players include are Phillips Plating Corp., Okuno International, MPC Plating Inc., MacDermid Inc., Leader Plating on Plastics Ltd., JCU Corp., Grohe AG, Galva Deco Parts Pvt. Ltd., Enthone, Dixline Corp., Dow Chemical Company, Cybershield, Inc., COVENTYA, Chromoplastica CMC S.r.l., C. Uyemura & Co. Ltd., Bolta Werke GmbH, Atotech, and Artcraft Plating & Finishing among others.