Plating on Plastics Market Share, Industry Size, Upcoming Challenges and Opportunities till 2030 Wi

Author: Shubham Autade

Market Dynamics

Amid emerging regulatory changes and safety considerations, manufacturers across different manufacturing sectors are rapidly stressing the implementation of environmentally friendly plating on plastic [POP] market 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.

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The Plating on plastics market value isvalue is expected to reach $654.79 Million with a CAGR rate of 4.8% by the end of the year 2030.

Competitive landscape

The major key players in the Plating on plastics market are:

  • Month Group,
  • Cybershield Inc
  • Phillips Plating Corporation,
  • Dixline Corporation,
  • Leader Plating on Plastics Ltd.,
  • Precision Plating (AUS) Pty. Ltd.,
  • Sarrel, Grohe AG,
  • Xin Point Holding Limited,
  • Coventya

Regulation

Stringent Environment Protection Agency (EPA) regulations on chrome finishing auto parts and electronics products have redistricted the global market growth. Chromium is listed as a carcinogen element that is hazardous for human health and the environment. It is considered a harmful compound among the 189 hazardous air pollutants (HAPs) and listed under section 112 of the EPA Act. Hence, chrome electroplated materials are recognized as important emitters of chromium compound to the atmosphere.

Segmentation

By Plating

  • Copper, nickel, and chromium are significantly used for plating different plastics. Copper and nickel plating is used to add corrosion resistance property and increase the strength of the plastic component. Chromium plastic coatings help to increase surface hardness and enhance their appearance.
  • The global production of refined nickel in 2017 surpassed 2 million tons, the nickel market is growing at a CAGR of 4.2%. The copper oxide estimated production volume in 2019 is 575,000 metric tons.

By Plastics

  • Polypropylene and polyurethane are known as high-performance automotive plastics. Polypropylene is used in a wide range of applications including automobile chemical tanks, bumpers, gas cans, cable insulation, and carpet fibers. Polyurethane has exceptional properties such as flexibility, toughness, and resistance to temperature. It is used in flexible foam seating, elastomeric wheels, foam insulation panels, and tires and automobile cushions.
  • Around 80% of plastics used for metal plating are acrylonitrile-butadiene-styrene (ABS) owing to its thermal and chemical stability, high strength and toughness.

By Application

  • The sales of automobiles declined in 2018 reaching 95,055,937 from 95,660,606 in 2017, due to the increasing demand for used vehicles in Europe and the US. The aftermarket demand for interior and exterior automobile parts such as bumpers, grilles, and wheel rims are projected to drive the growth of the global plating on plastics market during the forecast period.
  • The increasing demand for electronic products is estimated to drive the demand for plating on plastics during the review period. Asia-Pacific is the leading producer of electronic products recorded a revenue of USD 3,312.39 billion and Europe accounted for USD 622.45 billion in 2016.

By Region

  • North America: The US is the largest market for second-hand cars and thus the demand for plating on plastics in the production of aftermarket plastic components is estimated to fuel the regional market growth during the forecast period.
  • Europe: The growth of the European market is driven by growth in infrastructure activities, which is expected to boost the demand for sanitary fittings in the region.
  • Asia-Pacific: Increasing application of plating on plastics insulation in the automotive industry is expected to drive the products’ demand in the regional market.
  • Latin America: The region is the largest exporters of automobiles and electronic products. The growing consumption of plating on plastics in automobile components and home appliances is driving the regional market growth.
  • Middle East & Africa: In the Middle East & Africa, the rise in infrastructure projects is driving the demand for plating on plastics in sanitary fittings such as bathroom accessories and kitchen accessories.

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