According to Acumen Research and Consulting, the global Plating on Plastics market is expected to grow at noteworthy CAGR around 7.1 % throughout the forecast period and reach around US$ 1 billion by 2026.
Plastic placing indicates the use of the electroplating technology to apply metal coating to plastic. In order to impart to the base material properties such as corrosion, abrasion and hardness, plastic surfaces are coated with metals such as chrome, nickel and copper. Plated plastic components, thanks to their properties as light weight, tough surfaces and a glitter finish, are mainly used in the automotive industry. The growing demand in the automotive and electronic industry for lightweight metal substitutes is anticipated to be the key driving force in the market. In addition, growing consumers are expected to increase demand over the forecast period in relation to environmental benefits such as reductions in CO2 emissions combined with the efficiency of the light weight vehicles available.
The report provides analysis of global Plating on Plastics market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
In plumbing applications, especially in toilets and kitchens, demand for plastics also rises to prevent stresses on water on appliances. Demand for use with decorative chrome and nickel plating is on the rise. However, in some regions the prohibition of the use of chromium will likely restrict the plate on the plastics market in the coming years. Moreover, the market will be impaired in the near future by the availability of alternatives, such as lightweight metals and composites in the automotive sector.
The industry as a whole has seen several advances in technology for electroplating that have improved the overall quality of the finished product. In order to improve the corrosion resistance capability double-layer nickel systems comprising a semi-bright sub-layer with a bright nickel cover have been developed. The micro discontinuous chromium system, improving the resistance to corrodation of nickel and chromium deposits during the metallisation process, also represents an important step forward.
However, increasing rigor in the regulatory regulations could have serious implications for overall market growth. The use of heaxavalent Chromium in POPs was prohibited by the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH). Strict regulations laid down by EPA and OSHA should further hinder overall growth in the years ahead.
The chrome segment held the world's largest plastics market share in 2018 for plating types. Due to ease of cleaning, demand for chrome plating is growing. Chrome plate offers excellent finishing on the surface. Therefore, demand for aesthetic chromium plating will increase over the forecast period. Nickel is the fast expanding plastics market segment. With regards to revenues, during the forecast period, the segment should register the maximum CAGR of 7.0 %. Copper and precious metals like gold, silver and palladium are included in the other segment. Gold plate and silver plating provide a superb decorative finish as well as better surface qualities than other metals. High costs for these valuable metals however limit their use in industry. In chrome plating applications, ABS is used primarily as the base material to provide products with smooth and consistent surface finish. The ABS segment held over 75% of the plating market on plastics in 2018 as far as its revenues are concerned. During the forecast period, the segment is expected to have an important market share. The primary use of ABS is automotive. The acrylonitrile-styrene matrix of ABS is uniformly distributed in butadiene rubber. The ABS plate is efficient with this exceptional property. Butadiene is removed from the matrix, leaving the microscopic troughs used to link the plate. Additionally, the major characteristics of ABS are cost efficiency, easy moulding, high metal adhesion and a low thermal expansion factor, which can propel the ABS segment over the forecast period.
In the automotive segment, a major market share is estimated during the projected period between applications. Plating on plastic, especially for passenger cars and commercial vehicles is mainly used in the automotive industry. The ABS / PC blend is used in automotive applications of high temperatures, especially on wheel coverings. The demand for plastics in the automobile segment is driven primarily by reduced weights and a appealing design. During the prediction period, followed by the construction and construction segment, the segment of the energy & electronics industry is expected to expand rapidly. In the short future the global market for plastics plating should boost the growth of the world electrical & electronics (E&E) industry. In mobile telephones, computers, laptops and many other applications plastics can be used. In a CAGR of more than 8% during the forecast period, electrical & electronics is expected to expand.
It is estimated that Europe will hold a world market leader in terms of volume during the forecast period. During the forecast period, an excellent car industry distribution network is expected to drive the market in the region. The plastics marketplace in Europe is dominated by a number of global and regional players like BMW and Ferrari. In North America, the plating on the plastics market is mature. During the forecast period, the market in the region is expected to expand at a slow rate. During the forecast period, North America is expected to offer lucrative chances for plastics market plating. Asia Pacific is a fast-growing plastics market. The shift from automotive production to developing economies like China and India fueling plating on the Asia- Pacific plastics market. The increase in plastics consumption in the buildings and infrastructure industries for electric wire coverings and building decorative materials also propels the construction and construction market segment in the region. In turn, the plating on the plastics market in Asia Pacific will likely propel during the prediction period. In Latin America, demand for plastics is expected to increase modestly in the forecast period. Brazil is a new automotive industry. Moreover, the increase in Latin American construction and infrastructure operations fuels the region's markets. In 2018, the Middle East and Africa maintained a low share of plastics world plating. In the near future too, the trend is expected to continue.
Global Plating on Plastics Market, By Plating Type
Global Plating on Plastics Market, By Base Material
Global Plating on Plastics Market, By Application
Global Plating on Plastics Market, By Geography
The market research study on “Plating on Plastics Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Plating on Plastics market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The players operating on the global plastic plating market are very competitive. The market is slightly divided. It is dominated by big players. A significant share of the global market is played by key players. Prominent players in the report are Sharretts Plating Company, Inc. Galva Decoparts Pvt., Atotech, Cybershield Inc., Grauer and Weil, and more. The worldwide plating market for plastics was segmented accordingly.