Plating on Plastics Market to gain significant revenue by 2025

Amplifying demand for lighter, corrosion resistant, and economic products has accelerated plating on plastics (POP) market growth in recent years. Plated plastic components are popular in several industries, including electrical & electronics, automotive, and domestic fittings. Demand for lightweight and high-performance plastics is particularly surging in the automotive industry to enhance efficiency of automobiles. Plated plastics have also found application in plumbing to avoid water strains on fixtures, which will drive plating on plastics industry growth.

A research study conducted by Global Market Insights, Inc., estimates that plating on plastics market is likely to exceed $770 million by 2024.

Among the various types of plastics such as ABS, PC, PEI, PET, Nylon, LCP, PBT, and others, ABS plastics have gained massive significance among end use industries. ABS plastics impart high strength, improved ductility, and superior thermal stability characteristics. They are made up of rubber containing copolymer and are well-suited for etching, raw material adhesion, and for achieving desirable plating output. In addition, capability of ABS plastics to perform well in high-temperature conditions has increased their adoption in wheel covers. Moreover, due to the elevated thermal stability of ABS plastics, they have found wide-ranging applications in electrical & electronics industry, which has led POP industry to depict an upward growth trajectory. Plating on plastics market share from ABC plastics segment is likely to grow at a 6.5% CAGR over 2018-2024.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/366

Growth drivers are
1. Europe: Increase in lightweight component demand for automobile production
2. Asia Pacific: Positive outlook on automobile industry

The polymer industry has been witnessing several technological innovations, which has paved the way for the substitution of metals by plastic in end-use industries, such as aerospace, domestic appliances, electronics, and automotive. Several benefits offered by plastics, such as weight reduction, ease of fabrication, design flexibility are likely to chart out remarkable growth in adoption of plated plastics.

Nickel and copper are widely utilized in combination for all chrome plating domestic fitting applications. Copper plating on plastic substrates helps to provide decorative coating and electrical conductivity. While, nickel plating provides good corrosion resistance, thick surface, and improved wear resistance. Chrome-plated plastics deliver several benefits, such as rust resistance, aesthetic appeal, and decent surface finish, resulting in considerable growth of POP market size.

Speaking in terms of regional contribution, Germany is likely to emerge as a key revenue pocket for plating in plastic market. Automotive OEMs in Germany have been increasingly looking for products, which can provide an aesthetic appearance to automobiles and offer wear & corrosion resistance. The country houses numerous service providers along with many leading automobile manufacturers, such as Mercedes, BMW, Volkswagen, Volvo, and Renault. Report predicts that plating on plastics industry in Germany will gain $65 million in revenue solely from automotive industry applications by 2024.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/366

Elaborating further on the geographical landscape, Asia Pacific plating on plastics market will observe prolific growth owing to supportive government policies and availability of skilled labor in the region. Continuously escalating population in China & India and rising per-capita income are expected to generate lucrative growth opportunities for Asia Pacific POP industry outlook.

China is likely to emerge as a key country-specific POP market within Asia Pacific region. In China, domestic fittings are done using heavy grade plastics to offer aesthetic appearance. The country is observing massive demand for colored bathroom fixtures owing to their hygiene, appearance, economic cost, and wear resistance. As per estimates, China POP market share from domestic fittings application is likely to exceed $10 million by 2024.

Augmenting demand for plated plastics across various end-use industries has translated into a high degree of competition among plating on plastics market players. Many notable companies vying to gain a competitive advantage over the market are prioritizing business strategies such as product innovation and investing heavily in R&D activities for the same. Some of the leading industry players include MacDermid, Dow Chemical, Dixline, SRG Global, Phillips Plating Corporation, Bolta Werke, Atotech, Okuno International, Grohe, Sarrel, and MPC Plating.

Read More: https://www.gminsights.com/industry-analysis/plating-on-plastics-POP-market

Contact Us
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688

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.

This release was published on openPR.