The Plating on Plastics Market is expected to grow at > 8.0% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Plating on Plastics Market
Plating on Plastics Market is likely to witness an impressive CAGR of 8.0% during the forecast period. The major factors such as increase in product demand from various applications and growing demand for high performance & lightweight features in industries including automotive, electronics & electrical components, and domestic fittings, and economic benefits attained on producing components for these industries are expected to fuel the growth of the market during the forecast period.
North America is estimated to account for the largest share of the market during the forecast period. The growth is attributed to the emergence of latest technologies including IoT solutions, robotics and virtual reality in consumer electronic products manufacturing for achieving efficient and less expensive production in the regional consumer electronics market during the forecast period. In addition, presence of some of the key players of consumer electronics manufacturers in the region is also expected to fuel the market growth in the upcoming years. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Plating on Plastics Market Share: By Plastic Type
Based on the plastic type, the plating on plastics market is segmented as ABS, polycarbonate, PC/ABS, PEI-Ultem, PET, PBT, LCB, PEEK, PP, nylon, and others. ABS is highly considered for chrome plated plastics. The growth of the segment is attributed to its easy engraving and adhesive feature of key raw materials including copper, nickel, and chromic acid. Further, ABS is an amorphous blend of acrylonitrile, styrene, and butadiene, and is of low cost as compared to other plastic types and also, easy to metalize. ABS resins are mainly used to mold parts which require close dimensions offering high impact resistance, metal plating, and outstanding finishing of surfaces. The product offers good dimensional stability, low weight, good toughness & rigidity, low creep and acid & alkalis resistive features fueling the market growth during the forecast period.
Plating on Plastics Market Share: By Application Type
Based on the application type, the plating on plastics market is segmented as automotive, domestic fittings, E&E, and others. Factors such as growing sales of automotive, which is positively influencing the demand for plating on plastics as it helps in improving the aesthetic appeal of the vehicle and is attracting mass consumers, accompanied by growth in lightweight plastics demand for an increased efficiency of fuel, and increasing emergence for decreasing automotive weight to lower the consumption of fuel are expected to fast-track the growth of the market during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.