The drive for plating on plastics (POP) technology stems from the rising interest in the use of plastic composites in manufacturing processes across diverse industry verticals. A variety of functional properties and performance-enhancing benefits possible with plastics coated with metals has led to their robust demand. The need for customizing plastic substrates for aesthetics and functional applications is key to driving the demand in various industrial applications. A recent report by Transparency Market Research (TMR) titled “Plating on Plastics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”, sheds light on these trends and many more shaping the current market outlook and evaluates their impact on the emerging trajectory over the assessment period of 2016–2024.
One of the foremost industry where the demand for POP procedures is prevalent is the automotive industry. The rising need for adding aesthetics and gloss is fueling widespread usage of electroplated plastic composites in making automotive parts. Apart from the striking aesthetic appeal, POP composites are being increasingly preferred in automotive applications world over to lend remarkable wear and corrosion resistance to the substrates.
World over, the rising adoption of the POP processes among original equipment manufacturers (OEM) and aftermarket parts makers is accentuating the growth of plating on plastics market. With the growing use of plastics in a wide range of interior and exterior vehicle parts, the application of the technology is only likely to rise unhindered over the years.
Plating on plastics processes are also garnering substantial demand in electrical and electronics applications for providing a protective layer and making plastics electrically conductive. The usage of electroplated plastics in the manufacturing processes also confers the needed protection against adverse environmental conditions.
The demand for plating on plastics techniques also gathered momentum in the plumbing industry fueled by the growing popularity of electroplated polymers among homeowners. Metal-coated resins emerged as inexpensive and potential substitute to brass coating of plumbing fixtures and parts for kitchens and bathrooms. The rapid rise in residential and commercial construction activities, especially in emerging economies, will support the demand.
As techniques for metal plating advance over time, several other industries will adopt the processes in a bid to leverage the functional benefits of electroplated plastics, notably by the medical devices and consumer goods industries.3
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Regionally, Europe is emerging a prominent market for POP. The extensively rising demand is likely be driven by the usage of metal-plated plastics in automotive manufacturing applications. Asia Pacific is poised to be another lucrative market fueled by the burgeoning demand for passenger vehicles.
The plating on plastic market features a fairly competitive landscape chiefly on account of the presence of a large number of vendors. Investing in research and development activities is a potential strategy adopted by market players to gain a better foothold in the market.
Some of the prominent players operating in the plating on plastic market are Xin Point Holdings, BEP Surface Technology, Bolta Werke, Chromal Plating Company Bolton Ltd., Sarrel Group, and Helco Metal.