The growth of the global plating on plastics market can be attributed to the upsurge in the demand for high-performance, lightweight plastics owing to the efficiency and design flexibility they provide. Not to mention, the requirement of products with an enhanced aesthetic appearance that also provides wear and tear and corrosion resistance due to a rise in living standards and an increase in disposable incomes would also propel plating on plastics market size.
How will the demand from the electronics and automotive sectors impact the growth of the POP market?
The upsurge in the requirement for fuel efficient and lightweight automobiles is certain to drive plating on plastics market because of the product’s large-scale application in emblems, arm rest, dashboards, trims, light bezel and grilles as it is durable and easily fabricated. The surge in demand for light weight metal alternatives in electronics because of improved performance efficiency would further boost plating on plastics market size.
Which product would emerge significant in the market?
Among all the products in the plating on plastic market, acrylonitrile butadiene styrene (ABS) would show notable growth – indeed, ABS POP market size is estimated to surpass USD 550 million by 2024. An increase in the need for easy processing ability, chemical resistance and dimensional stability in automotive as well as electronics industries for higher productivity shall propel the industry demand. ABS is a crucial end-use product for electronics and automotive due to its ability of being deposited with supportive coatings by using chemical process and not resulting in mechanical abrasion. Plating on ABS boosts strength, thermal resistance and structural integrity which would favor the industry growth.
Which is the most pivotal application sphere in this market?
POP market size from domestic fitting is anticipated to register a CAGR of 6.5% over 2018-2024. Metallic finishing assists in protecting bathroom & kitchen domestic fittings from water and rust, that would further boost the product demand owing to the rise in application from commercial and residential construction activities.
Automotive applications would also depict remarkable growth – that is to say, POP market from automotive applications will exceed USD 600 million by 2024. Manufacturers are entering into joint ventures and partnerships for expanding their geographical presence and increasing their product offerings which is anticipated to favor the product demand.
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How will Germany contribute to the rising product demand?
Germany plating on plastic market size of Germany is estimated to cross USD 85 million by 2024, owing to the growing awareness about potential environmental risks which are caused by using hexavalent chromium into automobile components. This would boost the consumer inclination for adopting chromium trioxide plated products and drive the product demand.
What are the some of the barriers of this market?
Plastics that offer OEMs are more design flexible for decreasing the vehicle’s overall weight, that has resulted in production of more complex shapes for incorporating into vehicle design. Strict regulations from OSHA and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) on the use of hexavalent chromium in plating could hinder the POP market growth due to harmful emissions through the process.