Plating on Plastics (POP) market (Plated Plastics Market) size forecast to exceed USD 649 million by 2023
Published Date: April 7, 2016 Author: Global Market Insights, Inc.
Plating on plastics (POP) market size is set to generate over USD 649 million in revenue by 2023, according to the latest research report by Global Market insights, Inc. Plated plastics market size analysis expects significant growth owing to strong focus by automobile manufacturers for imparting aesthetic appearance to vehicle design apart from performance specifications.
Global plated plastics market size was 85.9 million square meters in 2015. Vehicle performance is somewhat similar across segments for most OEMs, aesthetic value from chrome plated plastics may offer product differentiation on design parameters.
Chrome plated ABS was most commonly used as a surface and accounted for over 75% of the total demand in 2015. Ease in etching and quick adhesion with other substrates coupled with low cost in comparison to other polymers makes ABS usage predominant in plating on plastics market share.
PC/ABS chrome plating market offers high temperature automotive application capabilities such as wheel covers and is forecast to achieve highest gains at 7% up to 2023. PC/ABS plating contains anywhere between 40% & 60% ABS with rest accounted by PC.
Norms regularized to eliminate hexavalent chromium usage owing to environmental hazards is set to challenge industry growth. 21st September, 2017 is the sunset date from REACH in the EU for the POP industry to stop using hexavalent chromium. Sharper angles & holes resulting from complexity in polymer design may cause non uniform plating deposits on substrates, which may also contribute to hamper growth.
Dow and Enthone have developed technologies to eliminate hexavalent chromium usage and comply with REACH guidelines.
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Key insights from the report include:
- Global plating on plastics market size is set to grow at 6.5% CAGR and reach 141.6 million square meters by 2023.
- Automotive applications dominate POP market share and accounted for 79.9% of the total demand in 2015. Addition of new automobile variants every year along with reduction in vehicle weight for fuel efficiency is expected key industry trend boosting POP demand.
- Europe, led by Germany and UK plating on plastics market, was dominant regional industry and comprised of over 36% of the total demand in 2015. Germany chrome plated ABS plastic market size was worth over USD 32 million in 2015.
- APAC, majorly driven by China plastic electroplating market size, is forecast to attain highest gains at 7.2% up to 2023. China automotive applications should attain growth rates at 7.9% and register close to USD 115 million by 2023.
- Global plating on plastics market share is competition intensive and quite fragmented. Vehicle manufacture rely on plated plastics market participants to comply with prescribed OEM specifications and follow stringent quality control norms.
- Plated plastics market share consists of process & chemistry providers along with plating companies. Bolta Werke, Sarrel Group, SRG Global and Xinpoint are notable plating on plastic companies.
Global Market Insights has segmented the plating on plastics (POP) industry on the basis polymer, finish, application and region:
POP Finish Type Analysis (Volume, Million Square meters; Revenue, USD Million, 2012 - 2023)
- Chrome finish (copper, nickel & chromium)
POP Plastic Type Analysis (Volume, Million Square meters; Revenue, USD Million, 2012 - 2023)
POP Application Analysis (Volume, Million Square meters; Revenue, USD Million, 2012 - 2023)
- Domestic fittings
- Electronics & electrical
POP Regional Analysis (Volume, Million Square meters; Revenue, USD Million, 2012 - 2023)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia