Market Overview The global Plating on Plastics Market is anticipated to experience a Compound Annual Growth Rate (CAGR) of 5.9%, escalating from USD 530.0 million in 2019 to USD 850.0 million in 2027. The primary driving forces for this growth are the increased demand in the automotive and electronic industries for lightweight metal substitutes. Concurrently, consumers' growing awareness of environmental benefits, such as CO2 reduction and enhanced performance of lightweight commercial vehicles, is expected to further boost market demand over the forecasted period.
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Plastic plating encompasses the electroplating of plastic surfaces using diverse metals such as aluminum, electric nickel, bronze, copper, cobalt phosphorus, silver, gold, etc. This method imparts completed products with both practical and decorative benefits, ensuring uniform coating, durability, tightness, and a lightweight substrate. Gold and silver plating not only elevate visual appeal but also enhance resistance to corrosion and abrasion. The process of metal coating has advanced, incorporating dual-layer nickel systems to boost corrosion resistance and a micro-discontinuous chromium device to enhance corrosion resistance in nickel and chromium deposits during metallization.
Plating Type Outlook Chrome plating is the most commonly used metal for coating applications. Despite hexavalent chromium restrictions in the EU, trivalent chromium is widely employed for its environmental friendliness. Nickel, known for decorative purposes in the automotive industry, improves the appearance of both interior and exterior automotive components. Copper, due to its higher conductivity, is gaining importance for covering large plastic parts, providing both cost-effectiveness and aesthetic enhancement.
Plastic Type Outlook Acrylonitrile butadiene styrene (ABS) is the most widely used plastic type globally, known for its lower costs, ease of molding, high metal adhesion, and low thermal expansion coefficient. ABS/PC is anticipated to exhibit the fastest growth from 2019 to 2027, with its stable and ductile composition suitable for extreme temperatures. The PC/ABS phosphorus flame retardants have been developed to address environmental concerns related to halogen-based flame retardants.
Application Outlook The automotive industry pioneered nickel and chromium coating on plastic resins, leading to applications in mirrors, interior fittings, grille components, and more. Electronics industry applications primarily use copper, while nickel and nickel/chrome masking enhance the aesthetic appearance of electronic device plastic trimmings, cell phones, buttons, and switches. Plating on plastics is also gaining popularity in the plumbing industry due to its water resistance and corrosion-resistant properties.
Regional Outlook Europe dominates the market in terms of sales, driven by the automotive industry in the UK and Germany. The Asia-Pacific region is expected to register the fastest CAGR during the forecast period, driven by the growing automotive and electronics industries in China, India, and Japan.
Market-O-Nomics
- Rising demand for lightweight materials in automotive, household, and electronics & electrical part manufacturing is driving industry growth.
- Asia-Pacific is expected to register the fastest CAGR, fueled by the rising automotive and electronics manufacturing industries.
- Environmental standards, such as those imposed by REACH, EPA, and OSHA, pose challenges to market growth.
- The use of hexavalent chromium in plating processes may trigger environmental concerns but offers economic benefits to industries like automobile manufacturing, domestic machinery, electronics, and electric components.
Profiles of Key Players Major manufacturers in the Plating on Plastics market include Atotech, Phillips Plating Corporation, Galva Decoparts Pvt. Ltd., Precision Plating (Aust) Pty Ltd., Classic Chrome Plating Inc., Elix Polymers, Sharrets Plating Inc., MacDermid Incorporated, Leader Plating on Plastic Ltd, and P.O.P Plating on Plastic AB.
Start-ups The Plating on Plastics industry presents opportunities for small producers and startups to offer cost-effective solutions for manufacturing advanced driver aid goods, as demand from coatings manufacturers continues to rise.
Deal Landscape Mergers and Acquisitions play a crucial role in the industry, with Atotech acquiring plastics plating from Pegastech in January 2017 to enhance its surface finishing technology market.
Expert Insights Experts forecast disruptions in the Plating on Plastics market due to global economic imbalances and turbulence. COVID-19 has impacted business growth, but industry leaders are adapting strategies to navigate challenges and establish secure partnerships.
Segments Covered in the Report The report segments the Plating on Plastics market based on Plating, Plastic, Application, and Region, providing a comprehensive analysis of market trends from 2017 to 2027.
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Plating Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Chrome
- Nickel
- Others
Plastic Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- ABS
- ABS/PC
- PEI
- PBT
- LCP
- PEEK
- PP
- Nylon/Polyamide
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Automotive
- Building & Construction
- Utilities
- Electronics
- Others
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- U.K
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
The report forecasts revenue growth at a global, regional & country level, providing an in-depth analysis of market trends for each sub-segment from 2017 to 2027.
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