Plating on Plastics (POP) Market Size By Finish (Chrome [Cu, Ni & Cr]), By Plastic (ABS, PC, PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, India, Brazil, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016– 2023

Published Date: March 2016 | 260 Pages | Report ID: GMI366 Report Format: PDF

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Industry Trends

Plating on Plastics Market size is anticipated to exceed 135 million square meters by 2023, with gains at over 6.5%.

U.S. Plating on plastics (POP) market share, by application, 2015 

U.S. Plating on plastics (POP) market share, by application, 2015

Growing preference towards aesthetic appearance by OEMs in order to differentiate vehicle design coupled with imparting properties such as corrosion and wear resistance is likely to drive plating on plastics market size. Plated plastics offer product differentiation benefiting from bright chrome work as many OEMs tend to offer more or less same vehicle performance.

The automobile industry has myriad applications for the plating on plastics market, which include interior & exterior trims, license plate frames, radiator grills, wheel covers, reflective surface, gear knobs, door handles, logos & emblems, light bezels, reflective surfaces, and mirror housings. Automobiles aftermarket also offers opportunities; potential is not just restricted to OEMs.

Increasing production capacity and launch of new automobile models in Asia Pacific is likely to drive the plating on plastics market size. Total automobile production in APAC was 47.60 million units in 2014 which grew to 47.99 million units in 2015.

South East Asian countries such as Thailand, Malaysia, and Indonesia are expected to achieve high growth rates over the forecast period. Manufacturers prefer to shift their production facilities in Asia Pacific owing to favorable regulations from regional governments in the form of tax incentives and FDI facilities.

Numerous automobile manufacturers such as Toyota, Nissan, Honda, Suzuki, and Mitsubishi have their manufacturing base in Thailand owing to favorable government subsidies.

Growth in lightweight & high performance polymers demand owing to design flexibility and increase automobile efficiency is likely to drive plating on plastics market size. High performance polymers & blends offers vehicle manufacturers flexibility to design any shape and offering strength comparable to that of steel, which also helps in reducing automobile weight and curb pollution levels.

In the current scenario for automobile manufacturing, polymers account for nearly 15% to 20% of the car weight comprising of interior & exterior parts to provide visual and functional characteristics.

Automobile weight reduction is witnessed as a priority in the plating on plastics market as it lowers carbon footprint. Stringent environmental regulations in North America and Europe result in lower CO2 emissions. Reducing vehicle weight by 450 kg enables an average weight reduction of 40g of CO2 and increases fuel-efficiency by 8% to 12%. This factor is likely to favor plated plastics market size.

Manufacturing complex polymer designs can result in sharper angles and holes, which can limit plating scope on owing to non-uniform deposits on substrates. Stringent environment regulations by REACH, EPA, and OSHA are expected to challenge plastic plating market growth over the forecast period. Present industry situation on dependency on hexavalent chromium such as chromic acid for plating process is likely to cause environmental concerns.

21st September 2017, a critical date for OEMs, if they used chrome components in their automobiles. This is the sunset date by REACH legislation in the European Union (EU) to eliminate chromium trioxide use.

To meet the deadline, plating process and chemistry suppliers such as Enthone, Oerlikon Balzers and Dow Electronic Chemicals are already developing alternative technologies to avoid chromium trioxide use and make the polymer available with the same aesthetic appearance and corrosion resistance and thereby positively influence plastic electroplating market size.

Plating on Plastics (POP) Market, By Polymer

ABS (Acrylonitrile butadiene styrene) was the predominant polymer used in plastic plating market size, and generated revenues worth above USD 265 million in 2015. ABS is widely preferred as it offers ease in plating process. It is inexpensive in comparison to other polymers and is easy for etching and adhesion with key raw materials.

ABS/PC accounted for over 9% of the demand in 2015 and is set to gain CAGR at over 6.8% up to 2023, which is highest among other polymers in comparison in the plating on plastics market. This blend contains between 40% and 60% of ABS, with the rest consisting of PC. They offer higher strength along with other properties such as ductility. They are used in high temperature performance areas such as wheel covers.

Polymers such as PP, PET, LCP, PEEK and nylon are likely to witness below average growth rates over the forecast period. They are used in end-use industries such as electrical & electronics, where high thermal stability is required.

Plating on Plastics (POP) Market, By Finish

Chrome electroplating market size, which includes copper, nickel and chromium used together for most of the OEMs and domestic fitting applications. Chrome plated plastics market size was valued at above USD 350 million in 2015. Plastic plating market price trend is heavily dependent on raw material and technology cost. Chrome plating industry is likely to consolidate over the next seven years.

Copper plating is done on polymer substrate to provide electrical conductivity and decorative coating. Nickel helps in providing wear resistance, enhancing corrosion resistance and increasing surface thickness. Chrome plated plastics offers advantages such as good surface finish, rust resistance and aesthetic appeal.

Plating on Plastics (POP) Market, By Application

Automotive applications dominated plating on plastics market share with valuation exceeding USD 295 million in 2015. Automotive application for plated plastics is at the forefront worldwide and varies from internal decorative trim to highly visible front grills for different variety of cars ranging from base to premium segment.

Domestic plumbing application accounted for over 9% of the demand in 2015. These products are preferred by consumers owing to aesthetically pleasing and tough abrasion resistance of hard metallic deposits. The metal finishing provides ductility which provides premature failure at times when subjected to hot and cold climatic conditions.

Other applications mainly include in FMCG sectors such as caps for perfume bottles, compacts for cosmetics & personal care and dispensers for beverage & soft drink containers. These applications are likely to grow at avarage rates over the forecast period.

Plating on Plastics (POP) Market, By Region

Europe, driven by UK and Germany plating on plastics market size, dominated regional demand by generating revenues worth approximately USD 150 million in 2015. Presence of various regional service providers along with numerous high-end OEMs such as BMW, Mercedes, Volkswagen, Renault, and Volvo are expected to drive POP demand in Europe.

APAC, dominated by China plastic electroplating market share, is likely to witness highest gains at over 7% up to 2022. Shift of OEMs facility in Asia Pacific and growth in automobile production in countries such as China, India, Thailand and Indonesia are likely to drive regional growth.

Latin America, driven by Brazil plating on plastics market size, is likely to witness significant gains over the forecast period owing to improving economic conditions and growth in automobile sales. Middle East & Africa, driven by Saudi Arabia, is likely to drive regional demand owing to increase in luxury automobile sales and growth in disposable income levels among consumers.

Competitive Market Share

Global plating on plastics market share is highly fragmented with top five industry participants accounting for 13.9% of the total capacity in 2015. POP service providers are expected to increase investments for expanding plating capacities over the forecast period. Companies are also expected to acquire specilaty chemical manufacturers in order to facilitate backward integration and counter raw material costs with captive consumption.

Major plating companies include Xinpoint, Bolta Werke, SRG Global and Sarrel Group. Other plating on plastics market participants majorly consist of regional players catering to OEMs and sanitary fittings market. Companies such as Trenton, BEP Surface Technology, , Applegate, Thanh Luan, Chromal, Helco Metal, MPC and Chrome Tech forms a fragmented part of the market catering to different end-use industries.

What Information does this report contain?

Historical data coverage: 2012 to 2015; Growth Projections: 2016 to 2023.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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