Plating on Plastics Market Size By Finish (Copper, Nickel, Chromium), By Plastic (ABS, Polycarbonate (PC), PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Re

Plating on Plastics Market Size By Finish (Copper, Nickel, Chromium), By Plastic (ABS, Polycarbonate (PC), PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027

The plating on plastics market is expected to see significant growth with a considerable CAGR through the forecast period. The projected growth is primarily driven by the rapid technological advancements in plating methods and increasing demand for plastics in automobiles and home appliances.

The process for plating on plastics has become an industrial practice that is accepted widely as it offers several vital advantages for manufacturers across the globe. Manufacturers in numerous industries employ the process of plating to enhance the wear and corrosion resistance, increase the electrical conductivity, and improve the surface hardness as well as appearance of a certain component.

The plating on plastics market has been segmented based on finish, plastic, application, and region.

Based on finish, the market has been segmented further into copper, nickel, chromium, and others. The copper sub-segment is expected to record a sizable CAGR of around 8.1% in the forecast period due to the rising demand from the electronics and electrical industries for copper’s high thermal conductivity.

The nickel sub-segment is expected to witness substantial growth by 2027, delivering a CAGR of over 7.9% through the analysis period.

Nickel is used extensively in industrial processes and for plating as the metal is corrosion-resistant and possesses high thermal and electrical conductivity, which will contribute to the steady segmental growth in the coming years.

Based on plastic, the PC sub-segment is estimated to witness notable growth with a CAGR of around 8.4% over the forecast timeframe.

Polycarbonates (PC) are considered tough and versatile plastics commonly used in the construction, aerospace and technology, and automotive sectors, which will contribute to the growth of the sub-segment in the coming years.

The PET sub-segment is also projected to grow with a significant CAGR despite having a comparatively nascent share in the global market than other forms of plastics.

Meanwhile, the PBT sub-segment will witness a CAGR of around 6.1% owing to superior characteristics of Polybutylene Terephthalate (PBT), including weight reduction, energy absorption, and shock absorption properties.

The PEEK sub-segment will grow with a CAGR of around 5.6% driven by the growing automotive industry and the increasing demand for an efficient & environment-friendly alternative. The nylon sub-segment is also speculated to deliver a notable CAGR of around 7.7% over the assessment period.

Meanwhile, the PP sub-segment is expected to advance at a substantial pace due to the growing inclination towards the adoption of polymers for minimizing the overall automobile weight and reducing carbon emissions.

The LCP sub-segment holds a market share of over 1.5% owing to the wide scope of application of locking compression plates (LCP) in electronic components, such as personal computers and mobile phones, as it is lightweight, efficient, and durable and offers high performance.

Meanwhile, the others sub-segment, which includes polysulfone, polypthalamide, polyphenylene sulfide (PPS), polyethersulfone, and syndiotactic polystyrene, held a market share of over 1.4% in 2020.

Based on application, the electronics and electrical sub-segment holds a share of over 7.5% in the global market. Projections estimate it to chalk out a remunerative growth outlook over the analysis period. Additionally, the others sub-segment is also expected to grow at a strong CAGR over the forecast period.

Regionally, LATAM is expected to witness a CAGR of over 8.3% through the analysis period due to the growing presence of automotive manufacturers in countries like Mexico.

The MEA regional segment held a market share of over 2.1% in 2020 and is slated to see sizable growth boosted by the increasing government expenditure on infrastructure development in the region.