The global plating on plastics market size is expected to be worth USD 30.77 Billion in 2024. It is expected to grow at a CAGR of 7.10% from 2024 to 2029 and reach a value of USD 43.36 Billion by 2029.
Plate plastics are used in several medical and healthcare applications, such as medical equipment and devices. The need for hygienic, long-lasting, and corrosion-resistant components is driving forward a substantial share of the global plating on plastics market. Plating technologies, including adhesion methods, surfacing materials, and surface preparation, are at the center of ongoing research and development. These developments are contributing to increased efficiency in processes and finishes.
Plating on plastics has had wide applications in the automotive industry from its initial days and continues to make use of its applications appropriately. These plastic materials offer high tensile strength and can withstand harsh climatic changes. Modern techniques in the process of electroplating plastics are cost-effective and exhibit high resistance to corrosion. The process involves etching a chromic acid-based solution and neutralizing the excess chromic acid produced while processing. Later, palladium and a thin salt solution, which acts as a catalyst when it reacts with nickel or copper, are applied. Using standard plating technology, the material goes on the electroplating process.
Additionally, it is anticipated that focusing on plastic producers' drive to create innovative and effective products will open new growth opportunities for the plastics sector. Factors such as cost, wear resistance, and attractiveness are influencing the growth of global plating in the plastics market in local fitment applications. Product requirements may increase as the automotive, electronics, and home fixtures industries demand more high-performance metal solutions made of lightweight composites.
The automotive companies are focused on luxury looks and comfort, and the use of textures, soft feel surfaces, and metallic finishes are all part of better aesthetics and finish. This trend in the automotive industry is increasing the share of global plating in the plastics market.
Moreover, the development of textured electroplated parts and the effectiveness of thermal transfers in both interior and exterior applications are two of the most promising emerging technologies that are propelling the market forward. For metallic surfaces, plated plastic remains the industry standard, although other options, such as physical vapor deposition, are gaining traction. In addition to this, trivalent chrome has gained traction in Asia and Europe, and it is the way forward. Hexavalent chromium electroplating was formerly the main technique employed globally. In the US, dark chrome is currently favouring trivalent chrome. Thus, all these changes in the industry will further boost the demand for global plating in the plastics market.
Chromium coatings that are harmful to the environment can be replaced with a novel technique that deposits nickel alloy coatings on high-performance materials for engineering purposes. It will be extremely beneficial for the plastic industry because it is a highly corrosion-resistant coating. Hence, this development will assist the global plating on plastics market in expanding. In June 2022, at NASF SUR/FIN 2022, a new technology for surface finishing for alloys was introduced, which is a non-toxic, low-voltage plasma electrolytic oxidation coating technique for magnesium. This might help the companies in increasing their market share.
Also, factors that affect the adhesion include not applying a base coat, not activating the surface, and not using a chemical treatment. Other problems that happen after the final product is delivered to the customer include flaking or peeling. This can severely affect the demand for plating on plastics and cause companies to reconsider your business as a supplier.
The high cost associated with plating on plastics has reduced the growth rate of the global plating on plastics market. The cost is substantial, and it includes both plating process expenses and subsequent reprocessing. Also, chromium plating on plastics is a costly and time-consuming process that can significantly increase product costs and delay production, potentially making it unfeasible for some manufacturers. Chromium plating is only possible on a few types of plastic. This procedure has a limited range of applications because not all plastics can be used with plating. Furthermore, due to excessive current, the tail and edges of the plated sections develop rough or other inadequate coatings, which increases the time and cost of the plastic electroplating process. All these factors are restricting the market from expanding further.
Manufacturing and processing activities were severely affected by the COVID-19 pandemic due to travel restrictions, lockdowns, increases in the cost of raw materials, disruptions in the supply chain, and changes in consumer spending habits. This resulted in a decline in demand for plastic plating for use in automotive and electronics product manufacturing enterprises. In addition, the global plating on plastics market is also affected by changes in the price of raw materials and a decrease in industrial activity because of COVID-19. Due to the pandemic, the plastic industry presents certain opportunities, such as taking advantage of new infrastructure projects to increase market demand.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2024 to 2029 |
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Base Year |
2024 |
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Forecast Period |
2024 to 2029 |
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CAGR |
7.10% |
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Segments Covered |
By Plastic, Application, & Region |
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Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Based on plastic, the ABS segment is expected to hold the major share of the worldwide market during the forecast period. ABS is widely recognized when it comes to chrome-plated plastics. The expansion of the segment is due to the raw materials easy-making and bonding abilities, which include copper, nickel, and chromic acid. In addition, ABS is affordable in comparison to other plastic varieties and simple to metalize. It is an amorphous mixture of acrylonitrile, styrene, and butadiene. Also, ABS resins are mostly utilized in the molding of components with precise dimensions, high surface finishing, metal plating, and great impact resistance. Furthermore, good dimensional stability, low weight, toughness and rigidity, low creep, and acid and alkalis resistive properties are the qualities of the ABS that will propel the expansion of the market during the forecast period.
Based on the application, the automotive segment was the largest segment in the global market in 2022 and is expected to continue the domination throughout the forecast period. The demand for automobiles is due to factors such as emphasis on decreasing vehicle weight and improving fuel efficiency, as well as the strict emission laws and growing concern for the environment. The growing use of plastics in the automobile sector is another reason for this, as they offer a smooth appearance and prevent stress concentrations, among many other benefits.
The North American global plating on plastics market is projected to be the largest market with the most market share during the forecast period. The rise in consumer electronics is due to the introduction of cutting-edge technologies and IoT solutions in manufacturing, which is driving the market in the region. Furthermore, the presence of some of the major players in the consumer electronics industry in the region is anticipated to boost market expansion in the years to come.
Europe's global plating on plastics market is anticipated to grow at a significant pace during the forecast period. The automobile industries in Germany and the UK are leading the market size. Chrome-finished cars are becoming increasingly popular in the UK, France, Germany, Spain, and other countries. Therefore, the demand for plating on plastics increases. In addition to this, strict environmental laws have increased the demand for lighter and more aerodynamic vehicles. In the coming years, demand for the market is anticipated to be elevated by auto giants like BMW, Volvo, Volkswagen, Daimler AG, and others.
Asia Pacific's global positioning in the plastics market is expected to grow at a faster rate. In 2021, the Asia Pacific region accounted for more than half of the worldwide plastic production or over 390 million metric tonnes. APAC can take the lead in establishing a sustainable economic model for plastic packaging since it produces a significant portion of the world's total plastic output and is home to some of the biggest plastic producers. Also, with more than 30 percent of plastic materials produced worldwide, China is the largest producer of plastic, followed by Japan with 3 percent and the rest of Asia with seventeen percent. Furthermore, APAC countries, including Japan, are significantly consuming plastic, with a rate 11 times higher than Indonesia.
Latin America's global plating on plastics market will have an upward trend in the market growth rate during the forecast period. Increasing utilization by the automotive industry for making components and appliances is increasing the market share in Latin America.
The Middle East and Africa's global plating on plastics market is likely to grow at a steady rate in the coming years due to increased investment in infrastructure projects and demand for bathroom and kitchen accessories.
The major players of the Plating on Plastics Market are Chromoplastica, Arteraft Planting, Atotech, Bolta Werke and Cybersheild
Frequently Asked Questions
Challenges may include environmental concerns related to plating processes, regulatory compliance, and the need for continuous innovation to meet changing market demands.
The impact on recyclability depends on the type of plating and the separation process. Some plating methods may complicate recycling, while others are designed to be more environmentally friendly.
Growth is influenced by increasing demand for lightweight and aesthetically appealing components in automotive and consumer goods, technological advancements in plating processes, and the expanding electronics industry.
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