Pune, India -- (SBWIRE) -- 03/11/2019 -- "Plating on Plastics (POP) Market analysis by Finish, Application, Growth Trends, Regional Trends, Competitive Landscape & Forecast to 2024", estimated to exceed USD 6 billion by 2024, according to the Graphical Research new growth forecast report.

Huge adoption of plastic plating by OEMS in automobile industries as a significant product differentiator is the major factor to drive the industry growth over the coming eight years. In addition, POP adoption finds application in preventing automobile parts from wear & tear as well as corrosion which will further boost its demand over the coming years.

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Automobile industry carries tremendous growth potential for POP market owing to its wide set of applications in interior & exterior trims, radiator grills, license plate frames, wheel covers, gear knobs, reflective surface, door handles, light bezels, logos & emblems, mirror housings, and reflective surfaces. Asia Pacific will highly influence POP industry size, owing to the huge automobile production in this region, which accounted for approximately 47.99 million units in 2015.

Moreover, inclination towards increasing the efficiency of automobiles is promoting the demand for light-weight and high-performance polymers to be used in vehicles. These polymers which account for 15%-20% weight of the vehicles, help in increasing the overall vehicle efficiency by reducing its weight, offering design flexibilities, and lowering the pollution level. Huge demand for these high-performance polymers will in turn favor POP market growth.

However, strict regulations prohibiting the use of hazardous chemicals used in plastic plating is likely to hamper the market share over the coming years. For instance, REACH Legislation in the EU (European Union) has set 21st September as the sunset date for the OEMs to eliminate the use of chromium trioxide in their products.

Automotive applications having had a market share of over USD 2.9 billion in 2017, is estimated to be the leading application segment in POP market over 2018-2024. The growth can be attributed to the growing POP demand for providing aesthetic appeal to the vehicles and the need to increase automobile efficiency by producing light-weight vehicles.

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POP also finds applications in FMCG sector for usage as caps, compacts, and dispenser for various personal care products, soft drinks, beverages etc.

POP market size in domestic fittings accounted for over 9.5% of the total share in 2017, and is estimated to grow noticeably over the coming years, driven by aesthetic appeal, high ductility, and abrasion resistance of these materials.

The regional landscape covers North America, Latin America, Asia Pacific, Europe, and MEA.

Asia Pacific POP market is likely to record a CAGR of around 7% over the period of 2018-2024. OEMs expansion in Asia Pacific coupled with high automotive industry growth is likely to drive the regional growth. China is set to be the major revenue pocket with regional POP automotive application to hit over USD 890 million by 2024.

The industry is quite fragmented comprising plating companies as well as chemical providers. Key market participants are Xinpoint, SRG Global, Bolta Werke, Sarrel Group, Trenton, Applegate, BEP Surface Technology, Chromal Plating Company, Helco Metal A/S, etc.

Segments we Covered in this Report:

Plating on Plastic Market Analysis, By Application
Automotive
Domestic Fittings
Electrical & Electronics
Others

Plating on Plastic Market Forecast, By Finish Type
Chrome Finish (Ni, Cu, Cr)
Other Finish Types

Plating on Plastic Market Growth, By Product
Acrylonitrile butadiene styrene (ABS)
Polycarbonate (PC)
ABS/PC
Poly Polyetherimide (PEI)
Polyethylene terephthalate (PET)
Polybutylene terephthalate (PBT)
Liquid Crystal Polymers (LCP)
Polyether ether ketone (PEEK)
Polypropylene (PP)
Nylon
Others

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The above information is provided on a regional and country basis for the following:
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Spain
Poland
Asia Pacific
China
India
Japan
Thailand
Malaysia
South Korea
Indonesia
Australia
LATAM
Brazil
Argentina
MEA
Morocco
Egypt
Iran
South Africa

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