According to MRFR analysis, Global Plating on Plastics Market Analysis is projected to register a CAGR of 4.8% to reach USD 654.79 Million by the end of 2030.
Amid emerging regulatory changes and safety considerations, manufacturers across different manufacturing sectors are rapidly stressing the implementation of environmentally friendly plating on plastic processes. Manufacturers are constantly looking at new ways to guarantee that their operations conform with strict regulatory frameworks to have the best possible protection for their employees, which is why plating on plastic has received a lot more publicity in recent decades. Owing to the increasing demand in LED lighting units for vehicle interiors, the adoption of multi-molded and two-shot components has seen a significant increase in recent years and, according to current trends, provides exponential promise in the future. Offering an optimal finish on apparel and computer goods such as notebook covers, bags, and other items is one of the most innovative plating on plastic applications that is widely used.
Original equipment manufacturers in the automotive industry are increasingly confronted with supply chain problems, especially in terms of component quality. Several new plating on plastic technologies, such as acid copper technologies, are being investigated in the automobile industry. The automotive industry is expected to offer significant opportunities for plating on plastics market participants, as the demand for lightweight vehicles continues to rise, resulting in increased use of plastic components. This is expected to help the industry expand. Despite the fact that chromium has been a common commodity for producers for decades, new technologies and products are being investigated in light of growing environmental issues.
Different plastics are heavily plated with copper, nickel, and chromium. To add corrosion resistance and improve the strength of the plastic part, copper and nickel plating is used. Plastics with chromium coatings have a higher surface hardness and a more appealing look. By 2030, chromium demand is forecast to hit USD 353.56 million. It improves the attractiveness of plastic parts by adding shine and polish, which is expected to boost demand and propel the segment further.
High-performance plastics include polypropylene and polyurethane. Automobile chemical containers, bumpers, gas cans, wire padding, and carpet fabrics are only a few of the uses for polypropylene. Polyurethane has outstanding properties including durability, hardness, and temperature tolerance. Flexible foam seating, elastomeric wheels, foam insulation walls, tires, and car cushions are all made from it. ABS (acrylonitrile-butadiene-styrene) accounts for around 80% of metal plating plastics due to its thermal and chemical stability, high strength, and hardness.
The industry is divided into two categories depending on application: automobile and electrical and electronic. During the forecast era, aftermarket demand for interior and exterior car parts such as bumpers, grilles, and wheel rims is expected to boost the global plating on plastics market. During the analysis era, rising demand for electronic devices is expected to fuel demand for plating on plastics.
North America accounts for 20% of the global plating on plastics (POP) industry. The United States is one of the world's biggest car markets, with 17 million lightweight cars sold in 2018. Since the United States is the world's largest market for used vehicles, demand for plating on plastics in the manufacture of aftermarket plastic parts is expected to drive regional market growth over the projected period. Lightweight vehicle demand in the area is expected to drive regional market development.
Growth in infrastructure activities is driving the European industry, which is expected to fuel demand for sanitary fittings in the region. Glass fiber reinforced concrete, for example, is a lightweight material that is often used to reinforce concrete. As a result, increased building activity in European countries is boosting lightweight material demand, thanks to low interest rates and strong economic growth.
In APAC, the growing use of plating on plastics insulation in the automotive industry is expected to boost product demand. Electric vehicle demand is soaring in India, Malaysia, and Australia, driving up POP consumption. Furthermore, demand for lightweight materials is expected to be driven by public sector investments in infrastructure construction.
Automobiles and electrical goods are the most exported items from Latin America. The regional demand is rising due to an increase in the use of plating on plastics in automotive parts and home appliances. Brazil and Argentina lead the Latin American market, and a rise in passenger car demand in these countries is projected to drive regional industry growth. Furthermore, as the export of electronic goods has grown, the use of plating on plastics in electronic equipment has increased.
The increase in infrastructure projects in the Middle East and Africa is boosting demand for plating on plastics in sanitary fittings such as bathroom and kitchen accessories. Construction activity in GCC countries is expected to increase, boosting demand for sanitary fittings and thus plating on plastics.
The notable players of the plating manufacturing market are Atotech (Germany), SRG Global (US), Plamingo Ltd (Germany), Artcraft Plating Finishing (US), Astro Electroplating, Inc (US), Surface Coatings LLC (India), Quality Plated Products Ltd (UK), Precision Plating (Aust) Pty Ltd (Australia), Cuptronic (Sweden), Phillips Plating (US), MPC Plating, Inc (US), DuPont (US), ENS Technology (US), Okuno International (US), Sharretts Plating Company (SPC) (US), and Component Surfaces Inc (US).
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