Plating on Plastics Market

Plating on Plastics Market - Snapshot

Plating on plastics denotes application of metal coating on plastics by using the electroplating technology. Plastic surfaces are coated with metals, such as chrome, nickel, and copper, in order to impart properties such as corrosion and abrasion resistance and hardness to the base material. Plated plastic components are primarily employed in the automotive industry owing to their properties such as light weight, hard and tough surfaces, and luster finish. Rising number of automobiles is a factor driving the plating on plastics market. Demand for plated plastics is also rising in plumbing applications, particularly in bathrooms and kitchens, in order to avoid water strains on fixtures. Demand for use of chrome and nickel plating for decorative purpose is rising. However, ban on usage of chrome in certain regions is likely to restrain the plating on plastics market in the next few years. Furthermore, availability of substitutes, such as lightweight metals and composites, in the automotive industry is projected to hamper the market in the near future. 

Among plating types, the chrome segment held the maximum share of the global plating on plastics market in 2018. Demand for chrome plating is rising, due to ease of cleaning. Chrome plating provides an excellent surface finish. Thus, the demand for chrome plating for aesthetic purpose is expected to rise during the forecast period. Nickel is the rapidly expanding segment of the plating on plastics market. In terms of revenue, the segment is anticipated to register the maximum CAGR of 7.0% during the forecast period. The others segment includes copper and precious metals such as gold, silver, and palladium. Gold plating and silver plating offer excellent decorative finish and better surface properties compared to other metals. However, high cost of these precious metals limits their use in industries. As a base material, ABS is primarily utilized in chrome plating applications to impart smooth and consistent surface finish to products. In terms of revenue, the ABS segment held more than 75% share of the plating on plastics market in 2018. The segment is expected to hold a significant share of the market throughout the forecast period. ABS is primarily used in automotive applications. ABS has an acrylonitrile-styrene matrix that contains butadiene rubber evenly distributed on it. This exceptional property makes the ABS plating effective. Butadiene is removed from the matrix, which leaves microscopic holes that are utilized as bonding sites by the plate. Additionally, cost efficiency, ease of molding, high adhesion to metals, and low coefficient of thermal expansion are major properties of ABS likely to propel the ABS segment during the forecast period. 

Among applications, the automotive segment is estimated to account for a major market share during the forecast period. Plating on plastics is largely employed in the automotive industry, particularly in passenger cars and commercial vehicles. The ABS/PC blend is utilized in high-temperature automotive applications, particularly wheel covers. Weight reduction and appealing design are primary factors driving the demand for plating on plastics in the automotive segment. The electrical & electronics segment is anticipated to expand at a rapid pace during the forecast period, followed by the building & construction segment. Growth of the global electrical & electronics (E&E) industry is expected to boost the global plating on plastics market in the near future. Plated plastics can be utilized in mobile phones, personal computers, laptops, and several other applications. The electrical & electronics segment is expected to expand at a CAGR of more than 8% during the forecast period. 

Europe is estimated to hold a leading share of the global market during the forecast period, in terms of volume. Excellent distribution network of the automotive industry in the region is expected to drive the market in the region during the forecast period. The plating on plastics market in Europe is influenced by several international and regional players such as BMW and Ferrari. The plating on plastics market in North America is mature. The market in the region is anticipated to expand at a sluggish pace during the forecast period. North America is anticipated to offer lucrative opportunities to the plating on plastics market during the forecast period. Asia Pacific is a rapidly expanding market for plating on plastics. Shift of automotive manufacturing activities toward developing economies, such as China and India, is fueling the plating on plastics market in Asia Pacific. Moreover, rise in the consumption of plating on plastics in construction and infrastructure sectors for coatings on electric wires and decorative materials in buildings propels the building & construction segment of the market in the region. This, in turn, is likely to propel the plating on plastics market in Asia Pacific during the forecast period. Demand for plating on plastics in Latin America is expected to rise at a moderate pace during the forecast period. Brazil is an emerging industry for automotive. In addition, rise in construction and infrastructure activities in Latin America fuels the market in the region. Middle East & Africa held a low share of the global plating on plastics market in 2018. The trend is expected to continue in the near future as well. 

Some of the key players operating in the global plating on plastics market are Bolta Werke GmbH, Atotech, DowDuPont Inc., Cybershield Inc., Sharretts Plating Company Inc., Galva Decoparts Pvt. Ltd., and Grauer & Weil (India).