Plating on Plastics (POP) Market

Plating on Plastics (POP) Market Outlook 2023 to 2033

The global plating on plastics (POP) market is forecasted at US$ 771 million for 2023 and is projected to reach a market valuation of US$ 1.52 billion by the end of 2033.

Global demand for plating on plastics is estimated to increase at a high-value CAGR of 7% through 2033. Demand for chrome-based plating is expected to reach a market value of US$ 480 million by 2033-end, increasing at a CAGR of 6.9% from 2023 to 2033.

Increasing demand for plating on plastics is being witnessed in the automotive sector. Plating offers an aesthetic vision of different automotive parts. Plating technology is used widely for electroplating metallic surfaces without making any changes in a lightweight structure.

Plating on plastics is adopted as a creative strategy for covering plastic or metal surfaces to upgrade their properties. Advancing electrical conductivity, improving surface hardness, and improving the stylish allure of any part or section are some noteworthy properties of POP. It is acquiring inescapable applications in the hardware and car business.

Plating on plastics offers an improved stylish appearance and decreased grinding to structures or products. Expanding interest in superior and lightweight materials from numerous sectors, including gadgets, auto, and homegrown fittings is predicted to play a substantial role in the increased demand for POP.

Growing demand for plating on plastics is attributed to its trademark which ensures metallic surfaces without making any modifications to the structure of the composite. The industry is experiencing advancements in electroplating technology that can further improve the quality of the finished product.

Developing regions across the globe are not fully aware of the plating techniques due to the lack of awareness and knowledge about plating on plastics. Government bodies have imposed regulations about the use of some specific chemicals, which will adversely impact market growth opportunities.

Chrome gives effective finishing along with corrosion resistance to materials, but put several side effects on the environment. Industry players are taking various initiatives to overcome challenges and gain a competitive edge.

The newly published research report by Fact.MR, a provider of market research and competitive intelligence, offers a holistic evaluation of the industry. The report provides a comprehensive analysis of key trends, restraints, drivers, segments, factors, and competitive landscape, which are playing a considerable role in market expansion.

Report Attributes	Details
Market Size in 2023	US$ 771 Million
Estimated Market Value (2033)	US$ 1.52 Billion
Global Market Growth Rate (2023 to 2033)	7% CAGR
Canada Market Growth Rate (2023 to 2033)	6.3% CAGR
Germany Market Growth Rate (2023 to 2033)	4.5% CAGR
Projected Growth Rate of Nickel (2023 to 2033)	7.5% CAGR
Key Companies Profiled	Atotech Dow Chemicals Leader Plating on Plastic Ltd. Philips Plating Corporation MPC Plating, Inc. Precision Plating (Aust) Pty Ltd. Sharretts Plating Company, Inc. O.P. Plating On Plastic AB

Which Factors are Driving the Sales of Plating on Plastics?

“Growing Adoption of Electric Vehicles Driving Demand for POP”

In recent years, the automotive industry is growing at a noteworthy rate due to the rising adoption of electric vehicles around the world. Growing use of plating on plastics in the automotive industry is predicted to drive lucrative opportunities for market players. The technology is being used at an increased rate due to its lightweight properties and is especially beneficial in EV production.

For instance :

• According to Global EV Outlook 2022, more than 16.5 million electric cars were running on the roads in the year 2021.

Consumers around the world are becoming aware of the environmental benefits of different lightweight vehicles. Governments are also taking initiatives to control carbon emissions and pollution from vehicles, which can also boost the demand for plating on plastics. POP allows the building of stylish and strong materials without making any significant changes in their nature.

“Noticeable Demand from Building & Construction Sector”

Plating on Plastics is utilized in the building & construction sector. Development of infrastructure, especially in developed countries, and rising urbanization is propelling demand for plating on plastics as it can build materials without changing their nature. Technological advancements in metal coating technology can also open up new opportunities for prominent suppliers of plating on plastics.

What are the Key Challenges Faced by Providers of Plating on Plastics?

“Adherence to Stringent Environmental Regulations”

There are certain barriers and limitations encountered by key players, which will restrict the adoption of POP. The growing rigor in the implementation of regulatory regulations can have some serious implications for comprehensive growth.

The REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) prohibited the utilization of hexavalent chromium in POP. OSHA (Occupational Safety and Health Administration) and EPA (Environmental Protection Agency) laid down some strict regulations about the use of toxic chemicals, which can limit the adoption of plating on plastics.

“Availability of Alternative Options in the Industry”

Industry players experience certain challenges due to the availability of alternatives, including automotive lightweight materials or composites and metals. Thus, the easy availability of alternatives to plating on plastics can adversely impact its sales, which will restrict growth opportunities in the market.

Which Region is Being Targeted by Suppliers of Plating on Plastics?

“Expansion of Consumer Goods Industry Driving High Demand for POP in North America”

Sales of POP in North America reached a market valuation of US$ 131 million in the year 2022.

Market growth in the region is attributed to the expanding consumer goods sector, which is resulting in the development of various new products that use POP. The constantly changing lifestyle of Americans is projected to generate demand for consumer goods, including electronics, which utilize POP significantly. Thus, these factors are predicted to put positive impacts on growth statistics.

Country-wise Insights

Which Determinates are Fueling the Sales of Plating on Plastics in Japan?

“Rising Demand for Automobiles Boosting Sales of POP in Japan”

Demand for plating on plastics is predicted to advance at a CAGR of 3.7% through 2033 in Japan.

Demand for electric vehicles is increasing at a noticeable speed in Japan, which is resulting in the growing requirement for POP. It enables manufacturers of electric vehicles to build lightweight products.

How is Demand for POP Shaping Up in the United States?

“Increased Per Capita Spending on Consumer Electronics”

The demand for POP was valued at more than US$ 172 million in the year 2022 in the United States.

Growing consumer electronics market in the United States is being driven by population growth and changing lifestyles. The rising per capita income of people is resulting in their increased spending capacity, which will boost demand for consumer electronics. These factors will boost sales of POP shortly.

Why are Sales of Plating on Plastics Increasing in Germany?

“Increased Construction Activities Leading in Rising Demand for POP”

Sales of plating on plastics are anticipated to progress at a CAGR of 4.5% from 2023 to 2033 in Germany. The rising use of plating on plastics in the construction industry can open up new avenues for industry players there.

Category-wise Insights

Which Type of POP is Gaining Traction around the World?

“Chrome-based Plating Accounts for Substantial Revenue Share”

Based on plating type, the global market is divided into chrome, nickel, and others. Among these, chrome-based plating is estimated to hold a noteworthy share of the revenue. Chrome plating ensures excellent aesthetic appeal, high-grade corrosion resistance, and a smooth surface finish.

These abovementioned features will encourage the requirement for fabricating a wide variety of automotive and mechanical components. The chrome metal plating also grants an efficient barrier against corrosion and various harmful gases thus bolstering sales of plating on plastics.

Which Application of Plating on Plastics is Most Rewarding for Industry Players?

“Automotive Sector Generating Lucrative Market Opportunities”

Plating on plastics is applied to automotive, building & construction, electronics, utilities, and others. Among these, the automotive sector is expected to hold a significant share of the revenue. This dominance is owing to the growing environmental concerns along with stringent emission regulations, which are imposed by governing bodies.

Vehicle manufacturers are emphasizing reducing the weight of vehicles and improving fuel efficiency. Thus, the growing use of POP in the automotive sector is generating lucrative opportunities for players.

Competitive Landscape

Some prominent suppliers of plating on plastics are investing to maintain product standards. Strengthening supply chain management systems is one of the noteworthy initiatives to generate revenue in the target industry.

New product development is adopted by key players to create growth strategies for the next 10 years.

For instance :

• SRG Global Inc. is a manufacturer of plastic parts, which are chrome-plated and are used in the automotive industry. In February 2019, the company manufactured a novel polymer for the plating of numerous automobile parts.

Key players in the plating on plastics market include Atotech, Dow Chemicals, Leader Plating on Plastic Ltd., Philips Plating Corporation, MPC Plating, Inc., Precision Plating (Aust) Pty Ltd., Sharretts Plating Company, Inc., and O.P. Plating On Plastic AB.

Segmentation of Plating on Plastics Industry Research

• By Plating :

  • Chrome
  • Nickel
  • Others

• By Application :

  • Automotive
  • Electronics
  • Building & Construction
  • Utilities
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa