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Plating on Plastics Market - By Finish Type (Copper, Nickel, Chromium), By Plastic (ABS, Polycarbonate (PC), PC/ABS, PEI-Ultem, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), & Forecast, 2023 - 2032
Report ID: GMI366
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Published Date: December 2022
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Report Format: PDF
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Authors: Kiran Pulidindi, Kunal Ahuja
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Base Year: 2022
Companies covered: 26
Tables & Figures: 315
Countries covered: 24
Pages: 292
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Plating on Plastics Market
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Plating on Plastics Market Size
Plating on Plastics Market size was valued at more than USD 600 million in 2022 and is set to expand at a robust pace of over 7% CAGR from 2023 to 2032, driven by rising product demand for designing electronics products.
The application of plating on plastics improves the design of electrical or electronic goods and creates the impression of high-quality products. In addition, the increased customer preference for lightweight, energy-efficient, multi-functional electronic products facilitates the growing use of plating on plastics, thereby pushing the industry's growth forward. Furthermore, increasing efforts of POP manufacturers to produce novel and efficient goods are projected to offer growth potential in the plastics industry.
Plating on Plastics Market Analysis
The mounting concerns about soaring plastic usage and improper plastic waste management are exerting a detrimental influence on enterprises operating in the plating on plastics market. The petrochemical and plastic industries are adopting to advanced recycling methods; however, they are under pressure to stop plastic production. Governments are enacting stringent laws that limit the use of certain polymers, limiting the business growth. However, companies, are inclined towards a greener approach by transitioning to alternative materials such as bioplastics, which is anticipated to assist in combat this industrial restriction.
Plating on plastics market is segmented based on finish into copper, nickel, and chrominum segments. Copper segment is projected to generate over USD 410 million by 2032. The technical breakthroughs in chemical processing methods have enabled the extensive use of copper plating on plastic processes in sectors including automotive, plumbing, appliance, and electronics. Copper finish offers better thermal conductivity and is considerably less expensive which is a favorable factor surging its application in plating for electronics components and parts.
Plating on plastics market is segmented in terms of plastic into ABS, Polycarbonate (PC), PET, PC/ABS, PEI-Ultem, PP, PBT, LCP, PEEK, and nylon segments. ABS segment is expected to account for over USD 915 million by 2032 owing to the surging demand for lightweight automotive parts increasing the use of ABS plastics across the automotive sector. Additionally, the low heat and electricity conductivity characteristics of ABS plastics favoring its application for products requiring electrical insulation protection is likely to impel the segment revenue.
In terms of application, industry is divided into domestic fittings, automotive, electronics & electrical segments. Plating on plastics market from domestic fittings segment accounted for more than USD 50 million in 2022 and is anticipated to register around 7% gains through 2032. Increasing application of POP in the construction industry resulting from the expanding urbanization is propelling the product demand from domestic fittings applications.
North America plating on plastics market was valued at over USD 130 million in 2022 and is anticipated to grow significantly at about 7% growth rate till 2032. Expanding consumer goods sector resulting from the development of novel products coupled with the changing lifestyles across American countries, is projected to have a positive impact on the regional market statistics.
Plating on Plastics Market Share
are some of the prominent enterprises operating in the industry. To boost market share, these businesses frequently engage in strategic activities such as partnerships, acquisitions, and service portfolio expansions.
Impact of COVID-19 on the plating on plastics market trends
COVID-19 pandemic had a detrimental effect on practically all industrial sectors globally due to travel restrictions, government-imposed lockdowns, price hikes for raw materials, disruptions in the supply chain, and shifting consumer spending patterns. This led to a decrease in demand for plating on plastics for applications in automobile and electronics products manufacturing companies. However, with the declining infection rate and lockdown relief leading to the resumption of business operations, the plating on the plastics market is projected to gain momentum in the upcoming years.
The plating on plastics market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Meter and revenue in USD Million from 2018 to 2032 for the following segments:
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By Finish Type
By Plastic
By Application
The above information is provided on a regional and country basis for the following: