Global POP market size from LCP substrate sizes to surpass USD 13 million by 2024. Growing demand for light weight, fuel efficient automotive would propel plating on plastic market demand owing to its wide application in grilles, light bezel, trims, dashboards, arm rest and emblems as it is easily fabricated and durable.
Plating can be done on acrylonitrile butadiene styrene (ABS), polycarbonate, poly polyetherimide, polyethylene terephthalate, polyether ether ketone, and liquid crystal polymers. Rising demand for light weight metal substitutes in electronics owing to improved performance efficiency will further drive POP industry size.
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Plating on plastic (POP) is done to increase aesthetic appearance and provide corrosion & wear resistance. Growth in light weight and high-performance plastic owing to flexibility of design, increase in efficiency along with increasing disposable income and rise in living standards will drive plating on plastic market size. Plating on Plastic (POP) Market size is set to surpass USD 750 million by 2024; according to a new research report by Global Market Insights, Inc
Plastics offer OEMs more design flexibility to decrease the overall weight of the vehicle. This resulted in manufacturing more complex shapes to incorporate into vehicle design. Stringent regulations from Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) and OSHA on usage of hexavalent chromium in plating on plastics would hamper market growth owing to harmful emissions caused during the process.
Plating on plastics market size from domestic fitting application accounts to grow at over 6.5% by 2024. Metallic finishing on polymers finds it application in humid conditions, as it protects kitchen & bathroom domestic fittings from water and rust which would further propel product demand as there is rising application from residential and commercial construction activities.
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Plating on plastic market size from automotive application may exceed to USD 600 million by 2024. Manufacturers are entering into partnerships and joint ventures to increase their product offerings and for expansion of their geographical presence which is expected to favor product demand.
Germany plating on plastic market size is anticipated to surpass USD 85 million in the projected timeframe due to growing awareness of potential environmental hazards caused by usage of hexavalent chromium in automobile components. This will increase consumer inclination to adopt chromium trioxide plated products which in turn should propel product demand.
Plating on plastic market size from acrylonitrile butadiene styrene (ABS) is anticipated to exceed USD 550 million by 2024. Increasing need for dimensional stability, chemical resistance, and easy processing ability in electronics and automotive industry for higher productivity should drive industry demand. ABS is a major end-use product for automotive, electronics owing to its ability to be deposited with supportive coatings on it by use of chemical process and without causing mechanical abrasion. Plating on ABS boosts structural integrity, thermal resistance, and strength which is likely to favor industry growth.
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Global plating on plastic market share is highly competitive and fragmented with some of the manufactures which includes BIA Kunststoff, C. Uyemura, Conventya, Dow Chemical, Galva Decoparts, JCU Corporation, MPC plating, and Okuno International. Comapnies are involved in expansion through M&A and partnerships to upsurge their production capacities, product portfolio, and regional presence, thus propelling industry growth.
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