Plating on Plastics Market

Plating on Plastics Market Size:

The global plating on plastics market size reached US$ 690.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,301.3 Million by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032. The market is majorly driven by the rapid product utilization in the construction sector, increasing demand for electronics and consumer goods products, advancements in plating technology that improve adhesion and finish, and growing product adoption in the automotive sector to enhance the appearance of vehicles.

Plating on Plastics Market Analysis:

• Major Market Drivers: The increasing demand for lightweight and durable automotive components is driving the market growth. The growing use of plated plastics in consumer electronics due to their aesthetic appeal and corrosion resistance is further bolstering market growth.
• Key Market Trends: Advancements in eco-friendly plating technologies are becoming a significant trend in the market. There is also a rising adoption of decorative plating techniques in the fashion and home decor industries.
• Geographical Trends: Europe dominates the market due to its strong automotive and electronics manufacturing sectors. The region's stringent environmental regulations also promote the use of high-quality, eco-friendly plating processes.
• Competitive Landscape: Some of the key market players include Artcraft Plating and Finishing Company Inc., Atotech, Bolta Werke GmbH, Cybershield Inc., DuPont de Nemours Inc., Galva Decoparts Pvt. Ltd., JCU Corporation, Leader Plating on Plastic Ltd, MacDermid Incorporated (Element Solutions Inc), MPC Plating Inc., Phillips Plating Corporation, Precision Plating (Aust) Pty Ltd., etc.
• Challenges and Opportunities: One of the main challenges in the market is the high cost of raw materials and complex manufacturing processes. However, the market presents opportunities in the development of cost-effective and sustainable plating solutions to meet the growing environmental concerns.
   

Plating on Plastics Market Trends:

Rapid technological advancements

Rapid technological advancements in the industry are bolstering the market. Numerous developments in electroplating technology have been witnessed by the industry as a whole, improving the overall quality of the final product. To increase corrosion resistance, double layer nickel systems with a bright nickel topcoat over a semi-bright underlying layer have been introduced. The launch of the micro discontinuous chromium system, which increases the deposits of nickel and chromium's resistance to corrosion during the metallization process, is another noteworthy breakthrough. This, in turn, is expanding the plating on plastics market size.

Increasing product demand in the automotive industry

The rising use of materials such as polyethylene terephthalate and thermoplastic polymer in manufacturing automotive parts is majorly bolstering the demand for plating on plastics in the global automotive industry. According to the International Organization of Motor Vehicle Manufacturers, the total production of the automotive worldwide during the second quarter of the year 2021 crossed 40 million units mark, an increase of 29% as compared to the production of the automotive during the second quarter of 2020. This will accelerate the production of automotive parts, thereby providing a boost to the plating on plastics market share.

Rising product demand from electrical and electronics industry for carbon fiber plating

Carbon fiber plating is mainly used in the electrical and electronics industry for lowering electric conductivity to a certain extent wherever required. It is also used in various electronic devices such as semiconductors, transmitters, etc. According to the US-based Semiconductor Industry Association (SIA), global semiconductor industry sales increased 6.5% from US$ 412.3 billion in 2019 to US$ 439 billion in 2020. The global sales of the semiconductor for one month during December increased 8.3% from US$ 36.19 billion in 2019 to US$ 39.2 billion in 2020. This is rapidly accelerating the demand for plating on plastics coating in the semiconductor industry, as it is widely used for managing and directing conductivity in semiconductors. This is also increasing the demand for carbon fiber plating, which, in turn, is bolstering the plating on plastics demand.

Plating on Plastics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on plastic type, plating type, and application.

Breakup by Plastic Type:

• ABS
• ABS/PC
• PEI
• PBT
• LCP
• PEEK
• PP
• Others
   

ABS dominates the market

The report has provided a detailed breakup and analysis of the market based on the plastic type. This includes ABS, ABS/PC, PEI, PBT, LCP, PEEK, PP, and others. According to the report, ABS represented the largest segment.

ABS (Acrylonitrile Butadiene Styrene) represents the largest segment in various markets due to its robust combination of mechanical properties, ease of processing, and cost-effectiveness. This thermoplastic polymer is highly valued for its strength, durability, and impact resistance, which make it ideal for a wide range of applications across various industries including automotive, consumer electronics, construction, and household appliances. Its suitability for processes such as electroplating further aligns with the increasing interest reflected in the plating on plastics market forecast, emphasizing its role in enhanced aesthetic and functional features of consumer goods.

Breakup by Plating Type:

• Chrome
• Nickel
• Others
   

Chrome holds the largest share in the market

A detailed breakup and analysis of the market based on the plating type have also been provided in the report. This includes chrome, nickel, and others. According to the report, chrome accounted for the largest market share.

Plastic components are frequently decorated with chrome plating, which offers excellent corrosion resistance, a smooth surface finish, and high visual appeal. Chrome plating on plastic, also known as chrome-like finishes or chrome plating, can create ornamental or non-functional items with a finish similar to that of chromed metal, which is significantly lighter and less expensive. It can also improve the appearance of plastic trim on computers and mobile phones, as well as the numerous control knobs, switches, and buttons on a variety of home electronics and electrical appliances. This, in turn, is propelling the plating on plastics market growth.

Breakup by Application:

• Automotive
• Building and Construction
• Utilities
• Electronics
• Others
   

Automotive holds the maximum share in the market

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes automotive, building and construction, utilities, electronics, and others. According to the report, automotive accounted for the largest market share.

In the automotive sector, plating plastics is the application of metallic coatings to plastic parts in order to improve their visual appeal and provide practical advantages. Due to its capacity to adhere to strict regulations, this approach has gained prominence. Additionally, manufacturers can now replicate the appearance of metal parts while reducing weight and costs. The longevity of automobile components can be extended by applying metallic coatings, such as nickel or chrome, to plastic parts. This enhances the overall dependability and performance of automotive systems. Functional applications for plated plastic components include corrosion prevention, which helps to prevent delamination and ensures long-term durability, and EMI shielding in electronic modules.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Europe leads the market, accounting for the largest plating on plastics market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe represents the largest regional market for plating on plastics.

According to the plating on plastics market research report, Europe dominated the overall plating on plastics market in terms of revenue. The market in Europe is majorly driven by the expanding automotive industry in the UK and Germany. Chrome-finished automotives have attained considerable popularity in Europe and North America region. The region is witnessing increasing environmental regulations which has led to a rising demand for lighter aerodynamic cars. The presence of auto giants such as BMW, Volvo, Volkwagen, Diamer AG, and others in this region is likely to drive the demand for the product in the future.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Artcraft Plating and Finishing Company Inc.
• Atotech
• Bolta Werke GmbH
• Cybershield Inc.
• DuPont de Nemours Inc.
• Galva Decoparts Pvt. Ltd.
• JCU Corporation
• Leader Plating on Plastic Ltd
• MacDermid Incorporated (Element Solutions Inc)
• MPC Plating Inc.
• Phillips Plating Corporation
• Precision Plating (Aust) Pty Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

The key market players are launching friendly POP products by eliminating fluorinated surfactants, boric acid, formaldehyde, and phosphates, which is creating a positive plating on plastics market outlook. In line with this, the rising efforts of POP manufacturers to manufacture novel and efficient products are expected to bolster the market. Several market players are investing in research and development activities to refine the coating process, thereby catalyzing market growth. Some of the companies are also adopting other strategies to expand their presence in the global market.

Plating on Plastics Market News:

• July 28, 2023: Atotech announced the launch of the Atotech CMA Closed-Loop System for alkaline zinc nickel plating. Certified by TÜV Rheinland, this technology enables virtually wastewater-free operations while minimizing waste generation and reducing carbon footprint. It is a closed-loop system that functions as an all-encompassing solution, covering every aspect of the alkaline zinc nickel plating process, including rinsing.
• April 29, 2024: Cybershield Inc, a U.S. supplier of metalized plastic components, announced its collaboration with SABIC, a global leader in the chemical industry, to advance the use of plated ULTEM resins in aerospace applications. Through this collaboration, which will be featured at the upcoming NPE2024 and the 2024 Aircraft Interiors Expo (AIX), SABIC’s team shared with Cybershield their extensive expertise on injection molding of high-heat ULTEM resins.

Plating on Plastics Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the plating on plastics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global plating on plastics market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the plating on plastics industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.