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Plating on Plastics (POP) Market By Top Manufacturer will Rise Worldwide till 2024 : Graphical Research
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Plating on plastics (POP) market size is anticipated to surpass USD 6 billion by 2024, at a CAGR of around 7% over the period of 2018-2024. Huge adoption of plastic plating by OEMS in automobile industries as a significant product differentiator is the major factor to drive the industry growth over the coming eight years. In addition, POP adoption finds application in preventing automobile parts from wear & tear as well as corrosion which will further boost its demand over the coming years.
Moreover, inclination towards increasing the efficiency of automobiles is promoting the demand for light-weight and high-performance polymers to be used in vehicles. These polymers which account for 15%-20% weight of the vehicles, help in increasing the overall vehicle efficiency by reducing its weight, offering design flexibilities, and lowering the pollution level. Huge demand for these high-performance polymers will in turn favor POP market growth.
However, strict regulations prohibiting the use of hazardous chemicals used in plastic plating is likely to hamper the market share over the coming years. For instance, REACH Legislation in the EU (European Union) has set 21st September as the sunset date for the OEMs to eliminate the use of chromium trioxide in their products.
The industry is segmented in terms of polymers, finishin, applications, and regions.
POP finishing mainly includes Chrome plated Plastics which mostly comprises nickel, copper, and chromium. Chrome plated plastics market was valued at over USD 1.1 billion in 2017, and is forecast to see noticeable growth over the coming eight years owing to its applications in providing aesthetic appeal and rust resistant properties.
POP polymer segment comprises ABS, PC/ABS, PC, PEI, PBT, PET, PEEK, LCP, Nylon and PP.
ABS/PC polymer market is forecast to grow at a CAGR of around 7% over 2018-2024 and is estimated to be the leading polymer in POP market. ABS/PC polymers are composed of ABS and PC in a ratio of 40%-60% ABC to the remaining PC content. They provide properties like ductility and strength and are mainly used in wheel covers.
PP, PEEK, LCP, AND PET polymers are mainly used in end use industries like electrical and electronics and are likely to witness lower growth during the forecast period.
ABS polymer dominated the POP market in 2017 having been valued at over USD 2.7 billion. This segment will witness a noticeable surge over the coming timeframe owing to its cost-effectiveness and convenient use.
Plating on Plastics offers a wide set of applications in sectors such as Automotive, Electronics & Electrical, and Domestic Fittings.
Automotive applications having had a market share of over USD 2.9 billion in 2017, is estimated to be the leading application segment in POP market over 2018-2024. The growth can be attributed to the growing POP demand for providing aesthetic appeal to the vehicles and the need to increase automobile efficiency by producing light-weight vehicles.
POP market size in domestic fittings accounted for over 9.5% of the total share in 2017, and is estimated to grow noticeably over the coming years, driven by aesthetic appeal, high ductility, and abrasion resistance of these materials.
POP also finds applications in FMCG sector for usage as caps, compacts, and dispenser for various personal care products, soft drinks, beverages etc.
The regional landscape covers North America, Latin America, Asia Pacific, Europe, and MEA.
Asia Pacific POP market is likely to record a CAGR of around 7% over the period of 2018-2024. OEMs expansion in Asia Pacific coupled with high automotive industry growth is likely to drive the regional growth. China is set to be the major revenue pocket with regional POP automotive application to hit over USD 890 million by 2024.
Europe POP market having had a share of over USD 1.5 billion in 2017, is estimated to grow significantly over the coming years owing to the presence of key OEMs like Volkswagen, BMW, Volvo, Mercedes, and Renault in this region. UK and Germany will drive the regional demand.
Middle East and Africa market will also witness substantial growth over the coming years owing to the increase in disposable income of the consumers which further accelerates luxury automobile sales.
The industry is quite fragmented comprising plating companies as well as chemical providers. Key market participants are Xinpoint, SRG Global, Bolta Werke, Sarrel Group, Trenton, Applegate, BEP Surface Technology, Chromal Plating Company, Helco Metal A/S, etc.
Segments Covered in this Report:
Plating on Plastic Market Forecast, By Finish Type
Chrome Finish (Ni, Cu, Cr)
Other Finish Types
Plating on Plastic Market Growth, By Product
Acrylonitrile butadiene styrene (ABS)
Polycarbonate (PC)
ABS/PC
Poly Polyetherimide (PEI)
Polyethylene terephthalate (PET)
Polybutylene terephthalate (PBT)
Liquid Crystal Polymers (LCP)
Polyether ether ketone (PEEK)
Polypropylene (PP)
Nylon
Others
Plating on Plastic Market Analysis, By Application
Automotive
Domestic Fittings
Electrical & Electronics
Others
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1057/plating-on-plastics-pop-market
Contact Us:
Parikhit B.
Corporate sales,
Graphical Research
Email: sales@graphicalresearch.com
Web: https://www.graphicalresearch.com
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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