Plating on Plastics (POP) Market is expected to reach USD 777.27 million by 2025
LONDON, June 20, 2017 /PRNewswire/ -- Highlights
- The global plating on plastics market is expected to reach USD 777.27 million by 2025, according to a new report by Grand View Research, Inc.
- Rising applications in automotive and electronics industry has been a major factor driving the market growth. POP involves plating a metal such as chrome, nickel and others onto a polymer substrate.
- It is done in order to deliver functional and decorative benefits to the resin.
- Plating ability has an inverse relation with the chemical resistance of the polymer substrate, which means higher the chemical resistance, the more difficult it is to plate.
- Applications in electronics are expected to register the fastest growth over the next eight years with an estimated CAGR of around 8.1% from 2017 to 2025.
- Added benefits of metal to the plastic substrate enhance the overall strength, aesthetic appearance and corrosion resistance of the product.
- The finished product is light weight and is ideal to be used in automotive, electronics and other end use industries.
- Increasing environmental concerns and need for cheaper light weight vehicles is posing higher demand for POP market. The application areas of POP are also expanding in utilities, medical devices and consumer goods owing to their wide benefits.
The global plating on plastics market is expected to reach USD 777.27 million by 2025, according to a new report by Grand View Research, Inc. Rising applications in automotive and electronics industry has been a major factor driving the market growth. POP involves plating a metal such as chrome, nickel and others onto a polymer substrate. It is done in order to deliver functional and decorative benefits to the resin.
Plating ability has an inverse relation with the chemical resistance of the polymer substrate, which means higher the chemical resistance, the more difficult it is to plate. Thus, manufacturers prefer ABS for plating. ABS was estimated as the largest plastic category in 2016 and is expected to grow substantially over the forecast period. Other popular plastic types include ABS/PC, PBT, PEEK and others.
Applications in electronics are expected to register the fastest growth over the next eight years with an estimated CAGR of around 8.1% from 2017 to 2025.
Added benefits of metal to the plastic substrate enhance the overall strength, aesthetic appearance and corrosion resistance of the product. The finished product is light weight and is ideal to be used in automotive, electronics and other end use industries. Increasing environmental concerns and need for cheaper light weight vehicles is posing higher demand for POP market. The application areas of POP are also expanding in utilities, medical devices and consumer goods owing to their wide benefits.
Further key findings from the report suggest:
• The global POP demand reached USD 411.6 million in 2016 and is expected to grow at a CAGR of 7.3% from 2016 to 2025. ABS emerged as the largest plastic segment in 2016 and is estimated to generate revenue over USD 580 million by 2025
• Global demand in automotive segment was USD 311.4 million in 2016 and is anticipated to witness substantial growth over the next eight years. The U.S. market in automotive segment was estimated at USD 48.7 million in 2016 and is projected to reach a total revenue of over USD 86 million by 2025
• The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies, especially in the processed automotive & electronics segment. This region is expected to grow at a CAGR of 8.2% from 2017 to 2025
• Key players including Atotech, Cybershield, Dow Chemical and Sharrets Plating Inc. dominated the global plating on plastics market
Download the full report: https://www.reportbuyer.com/product/4946498/
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