Plating on Plastics (POP) Market size worth over $960 million by 2027
Published Date: April 22, 2021 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights Inc., the Plating on Plastics Market size is set to surpass USD 960 Million by 2027.
Growing demand for light-weight materials with high-performance as a substitute in various applications such as electronics & electrical, automotive, and domestic fittings application is likely to propel the plating on plastic market growth during the forecast period. Plating on plastics technique enhances the properties of plastics such as corrosion and wear protection, promoting electrical conductivity, increasing surface hardness and improving aesthetic appearance of a component or part.
POP technology introduces the metallic surface characteristics such as electrical conductivity to plastic surface along with retaining the light-weight structural attribute of plastics. The increasing application of POP for manufacturing electrical & electronics parts and components for automotive, aerospace and consumer electronics will augment the plating on plastics market size.
Growing demand for plating on polyetherimide (PEI) from automotive sector will propel the market growth
The plating on polyetherimide market was valued at USD 13.1 Million in 2020 and is expected to witness significant growth during the forecast period. The growth of the market is attributed to its superior properties such as high heat and temperature resistance, higher strength, good dielectric constant and arc resistance. These properties are driving its application in electronics and automotive industries thus, driving the market growth. Furthermore, shifting consumer inclination towards attractive and higher aesthetic appealing products will augment the plating on plastics market growth.
Higher mechanical strength of the product makes polyetherimide an ideal product for automotive components manufacturing such as bumper, fuel systems, under hood components and automotive interior components. The high molding and bending properties of plastics provides designers and engineers a broader range of options while developing and designing vehicles offering product differentiation in terms of lightweight and superior aesthetics.
Browse key industry insights spread across 326 pages with 275 market data tables and 43 figures & charts from the report, “Global Plating on Plastics Market Size By Finish (Copper, Nickel, Chromium), By Plastic (ABS, Polycarbonate (PC), PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2016 – 2027” in detail along with the table of contents:
Increasing demand for aesthetically pleasing materials in domestic fittings application will propel the growth of plating on plastics market
The domestic fittings application market size was valued at USD 49.5 million in 2020 and is expected to grow at a CAGR of over 7.5% between 2021 and 2027. The demand for plating on plastics is growing for plumbing application in kitchen & bathroom fixtures, water systems, and home renovation as an inexpensive and lightweight alternative to brass. Furthermore, increasing demand for brighter and shiner kitchen and bathroom fittings will pave way for the demand for plating on plastic components. The POP technology provides a greater design possibility and flexibility compared with metal products. Thus, driving the plating on plastics market growth.
Shifting consumer desire towards bright trim and gleaming metal finishes on automotive parts across Europe will augment the market growth
The European plating on plastics market was valued over USD 230 million in 2020. The POP market in the region is expected to witness significant growth during the forecast period. This growth can by primarily attributed to increasing demand for lightweight alternative to steel in vehicle manufacturing. Stringent emission regulation and environmental compliance are compelling automobile designers and manufacturers to utilize lightweight alternatives, this will pave for the market growth. Moreover, increasing consumer desire for bright trim and gleaming metal finishes will boost the plating on plastic market growth during the forecast period.
Market players are adopting several strategies such as product development, collaboration, mergers & acquisition and capacity expansion, in order to sustain their position in a competitive environment and gain market share. Some of the key players in the plating on plastics market includes Artcraft Plating & Finishing, Atotech, Cybershield, Inc., Coventya, Enthone, Dixline Corporation, Grohe AG, Dow Chemical, and JCU Corporation.
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