Global Plating On Plastics (POP) Market Overview
The key driver impacting the plating on the plastics (pop) market is the rising demand for high-performance and lightweight substitutes for the metal in the growing automotive industry. The expanding automotive sector is likely to create massive demand for plating on plastics (pop) in the forecast period. For instance, as per Crescendo Worldwide Organization, the global automobile production was estimated as 92 MN Vehicles in 2019, and it is anticipated to grow by a CAGR of 20.78% by 2028, and it is estimated to reach $ 9 trillion by 2030. According to the International Organization of Motor vehicle manufacturers (OICA), in 2019, sales of passenger cars enhanced by about 5% and reached 69.5 million units. Moreover, the advancements and development in electroplating technology, which has improved the overall quality of finished products, contribute to plating on plastics (pop) products in the coming years.
According to Value Market Research, the global Plating on plastics (pop) market size was valued at around USD 525 billion in 2020 and is estimated to grow at a CAGR of about 8% during the forecast period 2021 to 2027.
The growing adoption of plating on plastic technique across the building & construction and electronics sector is estimated to augment Plating on plastics (pop) needs in the forecast period. In the electronic +industry, nickel and nickel-chromium plating are applied to improve the appearance of the plastic trim on mobile phones, computers, and a wide range of home electronics and electrical appliances. The electronics sector across the globe is proliferating due to the rising adoption of consumer electronic devices. For instance, As per the Invest India recent report, The global electronics market is estimated to be over $2 trillion. India’s global electronics manufacturing share had grown from 1.3% in 2012 to 3% in 2018. India is one of the largest and growing electronics markets globally, anticipated to reach $400 bn by 2025.
However, strict government regulations may hamper the market in the long run. Also, the fluctuation in raw material cost and reducing industrial activities due to COVID-19 negatively impact the market. The current industry trends, such as growing consumer awareness regarding performance and environmental benefits of lightweight vehicles, rising application in the electronics sector, are likely to provide market players with new market opportunities.
The Plating on plastics (pop) market is vast, with many local and global players. The Plating on plastics (pop) market is extensive, with many international and regional players. The key market leaders follow several strategies to increase their market statuses, such as extending product portfolio, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The major players studied in the report are Quality Plated Products Ltd, Grauer & Weil (India) Limited, Bolta Werke GmbH, SARREL, Atotech Limited, SRG Global, Cybershield Inc., Galva Decoparts Pvt. Ltd., Sharretts Plating Company Inc., and Phillips Plating.
In this research report, the plating on plastics (pop) market is segmented by plating type, plastic type, application, and region.
Analysis by Plating Type
By plating type, the report is categorized into chrome, nickel, and others. Chrome dominates the plating type segment with over 30% share in 2020. It is because chrome plating is the most commonly used metal for coating applications. Also, trivalent chrome is used extensively as it is environment friendly and provides a good surface finish, aesthetic appeal, and rust resistance to the substrate, which is adding growth to the market. Moreover, it is commonly used to plate armrests, grills, fiberglass pipes, and various motorbike parts, contributing to the high market demand for chrome plating in the forecast period.
Analysis by Plastic Type
By plastic type, the report is categorized into ABS, ABS/PC, PEI, PBT, LCP, PEEK, PP, and Nylon/Polyamide. ABS dominates the plastic-type segment with over 20% share in 2020. It is extensively used for plating on the plastic of different types to improve the structural and functional properties, which is adding growth to the market. Moreover, it provides ease of molding, cheaper costs, high metallic adhesion, and low coefficient of thermal expansion, thus contributing to the increased market demand for ABS in the forecast period.
Analysis by Application:
By application, the report is categorized into automotive, building & construction, utilities, electronics, and others. Automotive dominate the application segment with over 50% share in 2020. It is because of the increasing adoption of plastics in the automotive industry due to their numerous advantages such as deliver a smooth appearance and avoids stress concentrations, etc. It is extensively used in mirror housings, window trims, interior trim, auxiliary lamps, name badges, radiator grills, and front and rear lamps, contribute to the increased market demand from the automotive sector in the forecast period.
Analysis by Region:
In the regional outlook of the global plating on plastics (pop) market, the Europe region dominates globally with a 30% market share in the forecast period. It is due to the growing automotive industry in UK and Germany. Moreover, the technological advancements in the development of advanced interior trims and chrome finished automotive have attained considerable popularity in Europe, contribute to market growth across Europe.
Market Segmentation covered in the Report:
By Plating Type
By Plastic Type
- Building & Construction
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.