Growing Demand to Improve Tear Resistance and Prevent Corrosion to Boost Market Growth

Electroplating or plating on plastic is one of the most extensively deployed manufacturing technique used. Plating on plastic is immensely popular across a host of industrial sectors such as building & construction, electrical & electronics, automotive, etc. to prevent corrosion, offer wear protection, promote electrical conductivity, and enhance the overall aesthetics of plastic components. The adoption of plating on plastic among the manufacturers around the world has witnessed consistent growth over the past few decades and the trend is set to continue during the forecast period.

Some of the most innovative plating on plastic applications that are extensively deployed include offering optimum finish to fashion and electronic products such as laptop covers, shoes, etc. In the current scenario, manufacturers across various industrial sectors are increasingly emphasizing on the adoption of environment-friendly plating on plastic processes amid the evolving regulatory changes and safety factors. At present, manufacturers are increasingly seeking different alternatives to ensure their processes comply with stringent regulatory framework and offer optimum safety to the workforce due to which, considerable attention has been given to plating on plastic over the past few decades. The growing demand for plating on plastic of different types, including Teflon, ABS, polycarbonate, and polypropylene to enhance the structural and functional properties, is expected to drive the global plating on plastics market.

At the back of these factors, the global plating on plastics market is projected to reach US$ 1.3 Bn by the end of 2030.

Manufacturers Review Plastic Metallization Techniques amid Ongoing Technological Developments

Over the past couple of decades, owing to advancements in technology and continual research and development activities, the global plating on plastics market has evolved. In the current market landscape, the demand for selective plating using laser ablation and two-shot molding has witnessed considerable surge over the past decade and a similar trend is likely to continue during the forecast period– a factor that is expected to propel the growth of the market for plating on plastic.

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The growing investments in newer technologies is another factor that is anticipated to boost the prospects of the plating on plastics market in the upcoming years.

At present, players operating in the current plating on plastics market are increasingly focusing on the integration of design and functions, while simultaneously swaying toward the production of eco-friendly products by eliminating fluorinated surfactants, formaldehyde, phosphates, boric acid, etc. The adoption of multi-molded and two-shot parts has witnessed considerable rise in the past few years and as per current trends, offers immense potential in the future due to the growing interest in LED lighting units for automotive interiors.

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Growing Adoption in Automotive Sector to Aid Market Growth

The original equipment manufacturers across the automotive sector are increasingly burdened with challenges across the supply chain, particularly regarding parts quality. Several new plating on plastic technologies are being explored across the automotive industry such as acid copper technologies.

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At present, OE’s are extensively focusing on improving performance, widening the process operating window, minimizing volume of rejected parts, and boosting production capacity. The automotive industry is likely to provide considerable opportunities for players operating in the plating on plastics market, as the demand for lightweight automobiles continues to grow due to which, the adoption of plastic components has witnessed notable growth. This is estimated to boost market growth. Although chromium was a popular choice among manufacturers for several decades, new technologies and materials are being explored amid the mounting environmental concerns.

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Market Growth to Remain Sluggish amid Ongoing COVID-19 Pandemic

The impact of the COVID-19 pandemic on an array of industrial sectors, including automotive, building & construction, and oil & gas can be tracked by the sluggish growth of these industries over the first two quarters of 2020. While operations across these industries continue to take a hit due to lockdown measures, restriction on transportation and trade is projected to have a strong impact on the expansion of the global plating on plastics market mainly in 2020. As the demand from core industrial sectors, including automotive and construction continues to drop amid the ongoing pandemic, the market growth is expected to remain relatively sluggish in 2020.

Analysts’ Viewpoint

The global plating on plastics market is expected to grow at a healthy CAGR of ~7% during the forecast period. The market growth can be attributed to the growing adoption of plating on plastic technique being used across various end-use industries such as automotive, building & construction, etc. In addition, evolving regulatory landscape coupled with mounting environmental concerns is anticipated to have a strong impact on the growth trajectory of the plating on plastics market. While the adoption of chromium plating on plastic was considerably high over the past few decades, at present, market players are increasingly focusing on exploring newer materials and technologies.

Plating on Plastics Market: Overview

• In terms of value, the plating on plastics market is expected to reach US$ 1.3 Bn by 2030
• Rise in demand for plating on plastics, owing to its wide applicability in automotive and electrical & electronics application is anticipated to boost the global plating on plastics market during the forecast period
• Automotive is projected to be a highly lucrative application segment of the global plating on plastics market in the near future

Plating on Plastics Market: Key Drivers and Restraints

• In the transportation industry, lightweight design is crucial to attain high usability, low costs, and esthetics that meet consumer expectations. Engineers believe that plating on plastics can help them avoid stress concentrations, while eliminating conventional plating materials in order to deliver smooth appearance that designers and consumers desire. Therefore, increase in adoption of plastics in the automotive industry due to their numerous advantages is expected to drive the global plating on plastics market during the forecast period.
• The plating on plastics process plays a vital role in numerous electrical and electronics manufacturing procedures. In terms of decorative applications, nickel and nickel-chromium plating is employed to enhance the appearance of the plastic trim on computers and mobile phones as well as a wide range of home electronics and electrical appliances. Thus, rise in usage of plastic plating in the electrical & electronics industry is anticipated to propel the global plating on plastic market during the forecast period.
• Various manufacturers and metal finishers are switching to more environment-friendly materials for plastic electroplating due stringent environmental regulations on chrome plating. According to the U.S. Environmental Protection Agency (EPA), chromium compounds are among the 189 hazardous air pollutants (HAP) listed for regulation under section 112 of the Act. The U.S. EPA has identified hard and decorative chromium electroplating and chromium anodizing tanks as significant emitters of chromium compounds in the atmosphere. This is estimated to hamper the global plating on plastics market during the forecast period.

Plating on Plastics Market: Key Plating Types

• Based on plating type, the global plating on plastics market has been divided into chrome, nickel, and others
• In terms of value and volume, chrome is a prominent segment of the global plating on plastics market. Chrome plating offers luster and smooth surface finish, corrosion resistance, and ease of cleaning. Chrome-plated plastics are primarily employed in automotive components.

Plating on Plastics Market: Prominent Applications

• Based on application, the global plating on plastics market has been classified into automotive, building & construction, electrical & electronics, and others. The automotive segment is likely to expand at a rapid pace in the near future, as it is a leading consumer of plating on plastics.

Plating on Plastics Market: Major Developments

• In July, 2017, Bolta Werke GmbH announced that it had established a new production facility in Alabama, the U.S. The site is equipped for injection molding, chrome plating, coatings, and other activities. Establishment of the new production facility is anticipated to strengthen the company’s presence in the plating on plastics market in North America.
• In January 2016, Growel introduced zinc, nickel, and copper products, namely Zincalume NiZ 851, Spectra 1997 BL, and Cuprobrite DF 412. These new products are anticipated to offer improved quality of plating. The launch of these products is likely to help the company meet the rising demand for plating on plastics among customers across the globe.
• In October 2016, Xin Point Holding Ltd., along with its subsidiary and two third-party vendors, entered into an agreement to acquire Huizhou Keen Point Precision Plastic and WLT Metal Finishing Technology. Through this move, Xin Point Holding Ltd. strengthened its position in the global plating on plastics market.
• In August 2016, SRG Global, a global manufacturer of chrome-plated and painted plastic parts for automotive, commercial truck, and household appliance industries, introduced G-Coat tint-over-chrome process solution. The G-Coat process delivers distinct metallic surface finishes for exterior and interior applications, and regularly improves paint adhesion to any chrome-plated plastic part. Through this launch, the company achieved wide recognition in the global plating on plastics market.

Plating on Plastics Market: Competition Landscape

• Key manufacturers operating in the global plating on plastics market include 
  • Atotech Limited
  • Xin Point Holdings Ltd.
  • Phillips Plating
  • Bolta Werke GmbH
  • Grauer & Weil (India) Limited

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