Plating On Plastics Market Size, Share, Industry Trends and Forecast to 2030

Plating On Plastics Market Size & CAGR in 2021

The global plating on plastics market is anticipated to experience a compound annual growth rate (CAGR) of 4.5% from 2021 to 2026. The market size in 2021 is estimated to be USD 450 million, and it is expected to reach USD 580 million by 2026.

COVID-19 Impact on the Plating On Plastics Market

The COVID-19 pandemic had a significant impact on the plating on plastics market. The global supply chain disruptions, lockdown measures, and economic uncertainties led to a decrease in demand for plating on plastics products. However, as industries gradually resumed operations and the demand for electronic devices and automotive components increased, the market started to recover.

Plating On Plastics Dynamics

The plating on plastics market is driven by the increasing demand for lightweight and high-performance materials in various industries such as automotive, electronics, and consumer goods. Plating on plastics offers benefits such as corrosion resistance, aesthetic appeal, and improved durability, which further boosts its demand. Technological advancements in plating techniques and the growing trend of customization in products are also contributing to the market growth.

Segments and Related Analysis

The plating on plastics market is segmented based on the type of plastic, plating material, application, and end-user industry. On the basis of plastic type, ABS (Acrylonitrile Butadiene Styrene) plastics account for the largest market share due to their excellent surface finish and adhesion properties. Nickel plating is the most commonly used plating material, especially in the automotive industry for decorative purposes. The automotive sector dominates the market in terms of application, followed by the electronics industry.

By Region Analysis

- North America: The North American region holds a significant share in the plating on plastics market due to the presence of key automotive and electronics manufacturers. - Europe: Europe is witnessing steady growth in the market driven by the increasing adoption of lightweight materials in the automotive sector. - Asia Pacific: The Asia Pacific region is expected to show the highest growth rate attributed to the expanding electronics and consumer goods industries in countries like China and India. - Latin America: Latin America is projected to offer lucrative opportunities for market players with the rising demand for aesthetically appealing products. - Middle East and Africa: The Middle East and Africa region are experiencing growth in the market due to the expanding automotive aftermarket sector.

Key Market Players and Competitive Landscape

Some of the key players in the global plating on plastics market include Atotech, Sharretts Plating, Cybershield, Galva Decoparts Pvt Ltd, and Genpore. These companies are focusing on product innovation, strategic collaborations, and mergers to gain a competitive edge in the market. The competitive landscape of the market is characterized by intense competition, technological advancements, and the introduction of environmentally sustainable plating solutions.

Recent Happenings in the Plating On Plastics Market

- In January 2021, Atotech introduced a new chrome-free plating solution for plastics, which offers high durability and corrosion resistance. - In April 2021, Sharretts Plating launched a range of environmentally friendly plating materials to cater to the growing demand for sustainable solutions in the market. - In September 2021, Cybershield announced a strategic partnership with a leading automotive manufacturer to supply high-quality plated plastic components for their new vehicle models. - In December 2021, Galva Decoparts Pvt Ltd expanded its manufacturing facility to meet the increasing demand for plated plastic parts in the electronics industry. - In February 2022, Genpore introduced a breakthrough plating process that offers enhanced adhesion and surface finish to plastic components used in medical devices.