Plating on Plastics Market size is poised to reach USD 2 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of plating on plastics was USD 771 Million. The reason behind the growth is due to the growing sales of automobiles across the globe. One of the biggest and most powerful markets in the world is the automotive sector driven by the growing use of electric vehicles, with a higher contribution in emerging markets. For instance, global auto sales increased from around 66 million vehicles in 2021 to over 67 million vehicles in 2022.
The recent developments in plastic electroplating are believed to fuel the plating on plastics market growth. Recent developments in plastic-based electroless plating, which employs plastic as the substrate for the metal coating and has various further uses, allow the mixing and matching of various materials that have their advantages.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~8% |
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Base Year Market Size (2023) |
~ USD 771 Million |
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Forecast Year Market Size (2036) |
~ USD 2 Billion |
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Regional Scope |
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Application (Automotive, Electrical & Electronics, Construction & Building, Utilities, Domestic Fittings)
The automotive segment in the plating on plastics market is estimated to gain a robust revenue share of 45% in the coming years. Plating plastics in the automotive industry is a process where metallic coatings are applied to plastic components to enhance their aesthetic appeal and offer functional benefits. This technique has gained importance owing to its versatility, cost-effectiveness, and ability to meet stringent regulatory requirements, and also as it makes it possible for automakers to simulate the look of metal parts while cutting costs and weight. Automotive components can have a longer lifespan by the plating of plastic parts with metallic coatings such as nickel or chrome, which can improve the overall performance and dependability of automotive systems. Functional uses for plated plastic components include EMI shielding in electronic modules, and corrosion protection, which aids in avoiding delamination and guarantees long-term durability.
In addition, plastic on plating technology is mostly used in the automobile industry, with home fixtures (plumbing) including bath and wash basin taps, sink wastes, shower fittings, bathroom accessories, and kitchen accessories following closely wherein the finish's sanitary properties and ease of cleaning play a significant role.
Finish Type (Copper, Nickel, Chromium)
The chromium segment in the plating on plastics market is set to garner a notable share shortly. Chrome plating is a common decorative technique applied to plastic components to provide strong visual appeal, superior corrosion resistance, and a smooth surface finish. The appearance of plastic trim on computers and mobile phones, as well as the many control knobs, switches, and buttons on a variety of home electronics and electrical appliances, can be improved using chrome plating on plastic, commonly referred to as chrome-like finishes or chrome plating, which is also used to create ornamental or non-functional items that have a finish similar to that of chromed metal which is significantly lighter and less expensive.
In addition, nickel is the metal of choice for most applications since it can increase the wear and corrosion resistance of plastic components. When plating plastic vehicle parts, nickel might be a good and less hazardous alternative to chrome owing to its bright, metallic appearance. Besides this, copper has an exceptional electrical conductivity that can be utilized as a masking heat stop-off.
Plastic (PEI, PET, PBT, PC, ABS, ABS/PC, Nylon)
The ABS segment in the plating on plastics market is poised to gain a noteworthy share in the coming years. The best option for plating, according to some, is acrylonitrile butadiene styrene (ABS) since it increases mechanical adhesion, adds aesthetic appeal, resists corrosion, and is a non-conductive, metal or alloy that cannot be directly electroplated onto its surface.
Our in-depth analysis of the global plating on plastics market includes the following segments:
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Finish Type |
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Plastic |
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Application |
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North American Market Forecast
Plating on plastics market in North America is predicted to account for the largest share of 40% by 2036 impelled by the rising personal disposable income. Consumers with more discretionary money are more likely to buy electronic gadgets, including tablet computers, and premium product offerings with cutting-edge technologies. This may also increase the demand for vehicles, and increase focus on vehicle customization in the region. For instance, the United States' disposable personal income rose by over 0.2% in December 2023, and this figure is expected to reach USD 25 trillion in 2029.
In addition, one of the most significant markets for aerospace is the US, which is well-positioned for long-term expansion. In terms of sales value, the United States plating on plastics market led the world in aerospace exports with over USD 85 billion in aerospace exports in 2021. This may drive the market growth in the region.
European Market Statistics
Europe plating on plastics market is estimated to be the second largest, during the forecast timeframe led by the growing emphasis on sustainability. Europe is investing more in sustainability to meet investor pressure, consumer demand, legal obligations, and business strategy. By implementing a series of policy measures known as the European Green Deal, the European Union hopes to put the continent on a green transition path to make Europe sustainable by 2030, and ultimately achieve carbon neutrality by 2050.
Author Credits: Harshita Srivastava, Saima Khursheed
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