The Infinium Global Research analyzes the Plating on Plastics Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global plating on plastics market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of plating on plastics. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the plating on plastics market during the period. Plating on plastics market to grow with a CAGR of 8.1% over the forecast years.
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Plating on plastics refers to electroplating the plastic surface with metals such as nickel, chrome, electro-less nickel, copper, silver and others. Electrolytic copper, nickel, and chromium to provide the desired strength, appearance, and corrosion performance. Further, plating also provides a number of potential physical enhancements to the plastic along with aesthetic advantages. Shifting consumer preferences towards fuel efficiency along with lightweight automotive production using plastic components. Increased use of plastics and plastic composites in a battery of applications, including electronics, automotive, and domestic fitting sectors
Furthermore, as measures to control the outbreak of coronavirus have augmented, the demand for Plating on plastics has momentarily decreased. Additionally, the recent outbreak is also creating supply disruptions in the market due to reduced demand from end user industries such as food and beverage, manufacturing, pharmaceuticals and healthcare. Further, temporary shutdown of processing units and manufacturing has heavily reduced the use of plating on plastic for short term. However, this reduced production is expected to gain demand and steady market growth by 2021 owing to growing demand from healthcare and food and beverage industry.
Automotive Industry to Remain the Largest Users of Plating on Plastics
Plating on plastics are used in manufacturing sectors such as Automotive, Building & Construction, Utilities, Electronics and Other industrial sectors. However, plating on plastics are majorly used in automotive industry for corrosion and wear protection, increasing surface hardness, promoting electrical conductivity and even improving the appearance of a part or component. Further, the favourable properties of electroplating on plastic such as better aesthetic designs, cost-effective plating on plastic, Ease of etching and weight reduction provides wide range of applications across the automotive industry. Moreover, plating provides high-quality metal finish to the plastic surface which in turn increase the adoption of electroplating technology in industrial sector.
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North America to be the Dominant Region in Plating on Plastics market
Geographically, North America generated the largest revenue in Plating on plastics market in 2019 and is expected to continue its dominance over the forecast years. Growing adoption new technology and increasing usage in electronics and automobile will increase the demand for plating on plastic market. However, Asia Pacific is anticipated to hold the second largest share owing to increase in purchasing power of population, rapid industrialization in Asian countries and growing demand for steel and iron.
Companies Operating in Plating On Plastics Market Focusing on Product Enhancement to Gain Major Market Share
The plating on plastic market highly competitive and impartially fragmented with the presence offew national key players occupying major of market share. The major players SRG Global Inc., Sharretts Plating Company, Dow Chemical Company, Galva Decoparts Pvt. Ltd. And MacDermid Incare continuously focusing on technological advancement and adopting new technologies to advance a competitive edge in the market. These manufacturers are also investing in new product launches and facilitating other strategies to gain largest market share. Further, manufacturers are continuously improving and strengthen in technology and function to advance product portfolio.
Moreover, the industry players has witnessed several advancements in the eletctroplating technology, which in turn improving the overall quality of the finished product. Infinium Global Research’s recent report on the global plating on plastics market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments the global market.
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