Plating on Plastics Market is Projected to be Worth US$ 1,166.0 Mn by 2027
Plating on plastics denotes application of metal coating on plastics by using the electroplating technology. Plastic surfaces are coated with metals, such as chrome, nickel, and copper, in order to impart properties such as corrosion and abrasion resistance and hardness to the base material. Plated plastic components are primarily employed in the automotive industry owing to their properties such as light weight, hard and tough surfaces, and luster finish. Rising number of automobiles is a factor driving the plating on plastics market. Demand for plated plastics is also rising in plumbing applications, particularly in bathrooms and kitchens, in order to avoid water strains on fixtures.
Demand for use of chrome and nickel plating for decorative purpose is rising. However, ban on usage of chrome in certain regions is likely to restrain the plating on plastics market in the next few years. Furthermore, availability of substitutes, such as lightweight metals and composites, in the automotive industry is projected to hamper the market in the near future.
Among plating types, the chrome segment held the maximum share of the global plating on plastics market in 2018. Demand for chrome plating is rising, due to ease of cleaning. Chrome plating provides an excellent surface finish. Thus, the demand for chrome plating for aesthetic purpose is expected to rise during the forecast period. Nickel is the rapidly expanding segment of the plating on plastics market. In terms of revenue, the segment is anticipated to register the maximum CAGR of 7.0% during the forecast period. The others segment includes copper and precious metals such as gold, silver, and palladium. Gold plating and silver plating offer excellent decorative finish and better surface properties compared to other metals.
The information Presented in this Review is Based on Press-Release by TMR
However, high cost of these precious metals limits their use in industries. As a base material, ABS is primarily utilized in chrome plating applications to impart smooth and consistent surface finish to products. In terms of revenue, the ABS segment held more than 75% share of the plating on plastics market in 2018. The segment is expected to hold a significant share of the market throughout the forecast period. ABS is primarily used in automotive applications.