SELBYVILLE, Del., Feb. 19, 2020 /PRNewswire/ -- According to the latest research report published by Global Market Insights, Inc., the global plating on plastics market was valued at $540 million in 2019 and is expected to surpass $930 million by 2026, registering a CAGR of 8% from 2020 to 2026.
The research report provides deep dive analysis of plating on plastics market size and estimations, offers insights on market dynamics, including trends, drivers, restraints and opportunities and competitive landscape. The report further digs in to provide an assessment of strategic business strategies and major investment pockets.
Profound use of plastics and plastic composites in a slew of applications, including electronics, automotive, and domestic fitting sectors is likely to instill confidence among stakeholders who are eyeing to expand their penetration in the untapped areas.
With plating done on exhaust pipes, rims and trims for bikes, motorcycles, cars, plumbing, and lighting fixtures, sustained demand for appealing automotive components and domestic appliances has witnessed an uptick in recent years.
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The latest trends exhibit increased traction towards chromium finish in automotive and mechanical components. For instance, ABS substrate in the automotive industry has found increased inclination towards chromium finish. Accordingly, plating on plastics market from chromium finish is expected to grow at a robust CAGR of over 6.5% through 2026. The metal coating has been highly sought-after given that it provides a shield against potential harmful gases and corrosion.
Major drivers triggering growth in plating on plastics market:
- Strong demand for aesthetically appealing consumer electronics goods with long-term protection from wear & tear and corrosion.
- Increased use of plastics and plastic composites in a battery of applications, including electronics, automotive, and domestic fitting sectors.
- Demand for high impact resistant and appealing plastics is slated to trigger growth in the industry.
PC/ABS segment to boost the revenue stream:
PC/ABS segment is slated to fuel revenue stream in the global market as plastic has become a top-notch product solution in automotive and electronics space in the wake of good mechanical and heat properties. It is worth noting that the plastics are plated with metallic coatings to embellish the functional and aesthetic attributes. Moreover, sizeable demand for high impact resistant and appealing plastics will play an invaluable role in fueling plating on plastics market revenue.
APAC plating on plastics market to grow bullishly:
APAC POP market is slated to witness a bullish growth, expanding at a healthy CAGR of around 7% through 2026. The burgeoning population in India and China has been termed as a major factor bolstering construction activities and subsequently fueling demand for domestic fixtures.
The industry forecast also has Europe's plating on plastics market witnessing single-digit growth and expanding at a growth rate of around 6% through 2026. The robust growth is mainly attributed to bullish demand for lightweight components in the automotive sector.
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Leading market players: competitive landscape
Leading market players in plating on plastics industry are adopting strategic business strategies and are being involved in mergers & acquisitions, R&D activities, capacity expansion, and collaboration and partnerships. Notably, Cybershield inked a deal to acquire Seleco in Q4 2017 that includes the acquisition of the plating process of the company. It is believed that the acquisition helped Cybershield expand its market penetration and boost its product offerings and customer base.
Prominent players profiled in the plating on plastics market report are Coventya, Atotech, Artcraft Plating & Finishing, Cybershield, Inc., Dixline Corporation, JCU Corporation, Dow Chemical, among several others.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Plating on Plastics (POP) Market to grow at a CAGR of 8% from 2020 to 2026
Increasing demand for lightweight materials will stimulate plating on plastics market demand.
SOURCE Global Market Insights, Inc.