Plating on Plastics Market Is Driven By Increasing Usage In Electronics And Automotive Applications Till 2025: Grand View Research, Inc.
According to a report published by Grand View Research, Inc.; the global Plating On Plastics (POP) market is expected to reach at USD 777.27 million by 2025. Plating on plastics involves the process of electroplating the plastic with metals like chrome, nickel, silver, copper, and so on. This offers functional benefits, such as toughness, excellent surface quality, and flexibility, to the final product. Increasing usage in electronics and automotive applications is projected to drive the market over the forecast period (from 2018 to 2025). Growing need for lightweight materials in automobile production for improved efficiency and reduced CO2 emissions will boost the POP demand during the forecast period.
In addition, technological advancements, such as the advent of double layer nickel systems that enhances the corrosion resistance capability, will drive the market further. On the other hand, strict regulatory frameworks may hamper the market growth. For instance, the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) has banned the use of hexavalent chromium in POP. The global plating on plastics market can be segmented on the basis of plating type, plastic type, application, and region. Based on plating type, the market can be categorized into chrome, nickel, and others. The nickel plating is the most preferred method in automotive manufacturing for decorative purposes.
Full Research Report On Plating on Plastics (POP) Market Analysis: www.grandviewresearch.com/industry-analysis/plating-on-plastics-pop-market
U.S. POP market revenue by plating, 2014 – 2025 (USD Million)
It is used to improve the appearance of the vehicles. The nickel also helps improve corrosion and wear resistance of plastic substrate. Copper is another preferred metal for coating large plastic components due to its higher conductivity. As per plastic type, the market can be divided into Acrylonitrile Butadiene Styrene (ABS), ABS/PC, Polyetherimide (PEI), Polybutylene Terephthalate (PBT), Liquid-Crystal Polymer (LCP), Polyether Ether Ketone (PEEK), Polypropylene (PP), and Nylon/Polyamide. The ABS segment is mainly driven due to its low costs, low coefficient of thermal expansion, high metallic adhesion, and ease of molding. Acrylonitrile butadiene styrene is the most widely utilized in the global market.
However, the ABS/PC segment is likely to expand at the fastest CAGR of 8.6% from 2018 to 2025. This blend consists of 40 to 60% of ABS and the remaining portion contains Polycarbonate (PC). It provides better strength and ductility and can be used in extreme temperatures. Based on application, the market can be split into automotive, building and construction, utilities, electronics, and others. Nickel and chromium coatings are extensively used in the automotive segment due to its benefits including weight reduction, aesthetic designs, and lower cost. The electronics segment is projected to expand at the fastest CAGR of 8.1% from 2018 to 2025.
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Global POP market revenue by application, 2016 (%)
Nickel and nickel/chromium masking are used to enhance the aesthetic appearance of plastic trims on mobile phones, computers, and switches in electronic goods. The utility segment is also expected to have a significant growth in the coming years. Advantages, such as protection from rust and water, have increased the product application scope in this segment. Geographically, the market can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. Europe is the leading market in terms of revenue, followed by North America. Strong base of automotive industry in Germany and U.K. are supporting the market growth in Europe.
Demand for lightweight aerodynamic is on the rise in Europe due to strict of environmental regulations. Asia Pacific is expected to register the fastest CAGR of 8.2% over the forecast period. Growing electronics and automotive manufacturing industries in countries, such as Japan, India, and China, are anticipated to drive the regional market. In addition, rapid development of industrial infrastructure is also expected to provide lucrative growth opportunities in the region. Key companies in the global plating on plastics (POP) market include Sharrets Plating Inc.; Cybershield Inc.; MPC Plating Inc.; Galva Decoparts Pvt. Ltd.; and Grauer & Weil (India) Limited.
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