Press release
Plating on Plastics Market set for rapid growth forecast 2019-2025| Key Players: BIA Kunststoff, C. Uyemura, Conventya, Dow Chemical, Galva Decoparts, JCU Corporation, MPC plating, and Okuno International.
Plating on Plastics Market
Growing high-performance & lightweight plastics demand owing to design flexibility and increase in automobile efficiency is anticipated to drive plating on plastics market growth. High performance plastics & blends offers vehicle manufacturers flexibility to design numerous shapes and offer strength comparable to that of steel, which also supports in reducing vehicle weight and restraint pollution levels.
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According to a new research report by Global Market Insights, Inc. Plating on Plastic (POP) Market size is set to surpass USD 750 million by 2024.
Growth drivers are
1. Europe: Increase in lightweight component demand for automobile production
2. Asia Pacific: Positive outlook on automobile industry
Copper and nickel are generally used together for all chrome plating OEMs and domestic fitting applications. Copper plating is done on plastic substrate to provide electrical conductivity and decorative coating. Nickel plating helps in providing wear resistance, enhancing corrosion resistance and increasing surface thickness. Chrome plated plastics offers advantages including good surface finish, rust resistance and aesthetic appeal thus, promoting plating on plastics product demand.
Availability of skilled labor along with favorable government policies regarding FDI is likely to attract automobile manufacturers to set up production bases in Asia Pacific, which may propel regional industry growth. Increase in per-capita disposable income and population growth mainly in India & China is anticipated to drive regional plating on plastics market in projected timeframe.
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Technology innovation in polymer industry has resulted in metal substitution by plastics in end-use industries including automotive, aerospace, domestic appliances, and electronics. Plastics provide advantages like weight reduction, design flexibility, and fabrication ease. The chemical process development for surface preparation of ABS enabled good bonding characteristics between the metallic coating and plastic substrate was a major breakthrough leading to plating on plastics industry growth.
Germany plating on plastics market from automotive is anticipated to exceed USD 65 million by 2024. Increasing demand for aesthetic appearance by OEMs to differentiate automobile design supported by properties including corrosion and wear resistance is likely to favor product demand. Presence of various regional service providers along with numerous high-end automobile manufacturers including BMW, Mercedes, Volkswagen, Renault, and Volvo will propel plating on plastics market.
China plating on plastics market from domestic fittings is observed to surpass USD 10 million in the estimated timeframe. Heavy grade plastics are extensively used for domestic fittings applications to ensure superior appearance. Growing trend for colored bathroom fixtures due to its appearance, hygiene, wear resistance and costs is likely to drive POP market growth.
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Global plating on plastics market share is competitive and moderately fragmented. Major industry participants include Dow Chemical, MacDermid, Dixline, Phillips Plating Corporation, SRG Global, Bolta Werke, Okuno International, Atotech, Grohe, MPC Plating and Sarrel.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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