The plating plastics market worldwide was valued at USD 405.6 million in 2021 and is projected to achieve a compound annual growth rate (CAGR) of 6.2% during the forecast period. The market's expansion is primarily propelled by factors such as increasing demand from various industries like automotive, electronics, and aerospace for lightweight, corrosion-resistant, and visually appealing plastic components.
Plating plastics refers to the process of applying a thin layer of metal, such as nickel, copper, or chromium, onto plastic components to enhance their surface properties, including improved corrosion resistance, wear resistance, and electrical conductivity. The automotive industry's growing need to reduce vehicle weight and enhance fuel efficiency is driving the demand for plating plastics. Plated plastic components are also utilized in electronic devices such as smartphones, laptops, and tablets to enhance their aesthetic appeal and protect against corrosion.
Furthermore, the aerospace industry's rising demand for lightweight and durable plastic components is fueling the need for plating plastics. Plated plastics are employed in aircraft interiors and exteriors to provide better corrosion resistance and enhance the components' appearance.
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Plating Plastics Market Major Companies and Competitive Landscape:
- Galva Decoparts
- Columbia Chemical Corporation
- Sharretts Plating Company
- Chester Plating
- Atotech Deutschland GmbH
- AlmexaAluminio SA de CV
- DeKalb Metal Finishing
- MacDermidEnthone Industrial Solutions
- Technic Inc.
- Plating Technology
Moreover, the increasing demand for environmentally friendly and sustainable plating processes is contributing to the market's revenue growth. Electroless plating processes, which eliminate the use of toxic chemicals like hexavalent chromium and cadmium, are gaining popularity due to their lower environmental impact.
Additionally, there is a growing need in various sectors such as healthcare and food & beverage for plating plastics with advanced surface properties like antibacterial and anti-fouling characteristics. This is driving the demand for plating plastics and further contributing to market revenue growth. Plated plastic parts with these properties are commonly used in medical devices, food processing machinery, and other applications where hygiene and cleanliness are crucial.
Furthermore, stringent government regulations regarding the use of hazardous chemicals in plating processes are spurring the demand for alternative plating technologies. For example, the European Union's REACH regulation restricts the use of certain hazardous substances in plating processes, leading to the adoption of alternative methods like electroless plating.
However, the growth of the global plating plastics market faces several challenges, including the high cost of plating plastics, difficulties in achieving uniform plating thickness, and limitations in plating large and complex plastic components. Additionally, the availability of less expensive alternatives such as painted plastic components is expected to negatively impact market revenue growth throughout the forecast period.
In conclusion, the global plating plastics market is anticipated to witness substantial growth in the upcoming years, driven by increasing demand from various industries for lightweight, corrosion-resistant, and visually appealing plastic components. The increasing demand for environmentally friendly and sustainable plating processes, the need for plating plastics with advanced surface properties, and the adoption of alternative plating technologies are expected to further drive market revenue growth. However, factors such as high costs and limitations in plating large and complex plastic components may impede market growth.
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Segments covered in the report:
Segments covered by Product Outlook, Application Outlook, Regional Outlook
By Plating Method Outlook
- Electroplating
- Electroless Plating
By Plastic Type Outlook
- ABS
- PC
- PC-ABS
- PEEK
- Others
By End-Use Industry Outlook
- Automotive
- Electronics and Electrical
- Aerospace and Defense
- Others
Regional Outlook
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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