Plated (Plating on) Plastics Market to cover 140 million square meters by 2023: Global Market Insights, Inc.

OCEAN VIEW, Del., July 27, 2017 /PRNewswire-iReach/ -- Plating on Plastics (POP) Market has generated a decent momentum over the past few years with automotive industry taking a major share credit. Plastics play an important role in vehicle design, topping the vehicle differentiation criteria, an obvious reason for OEMs to contribute heavily towards the POP market share. Moreover, the aesthetic appeal of the vehicles in notably influencing the buying probability of the automobiles, which has further led to enhance the POP industry trends. According to Global Market Insights, Inc. "Plating on plastics (POP) market is projected to surpass a revenue of USD 649 million by 2023." Plating on plastics further imparts the vehicles with corrosion and wear resistant properties, which will expand its application area in the automotive sector.

The expanding polymer industry and its growing use in automobile sector will also generate heavy growth opportunities for the POP market players. Polymers which account for almost 15-20% of the overall car weight, play a vital role in determining the vehicle efficiency, making the manufacturers to deploy high-performance and lightweight polymers in the vehicles. ABS, which is the predominant polymer used in plastic plating, attained a revenue of USD 265 million in 2015. Also, ABS/PC, another prominent polymer in the POP market is estimated to register the highest annual growth rate of 6.8% over the period of 2016-2023.

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In addition to this, the growing emphasis on curtailing the carbon emissions via automobiles will also expand the POP industry outlook over the coming years. Light-weight vehicles are appraised to perform better in terms of efficiency and lesser carbon emissions, which will increase the adoption of POP by the manufacturers. As per the study, in 2015, automotive applications accounted for approximately 80% of the POP industry share, leading the application landscape. The trend is likely to continue with the increasing use of plastic plating not only by the OEMs, but also to a decent extent by the aftermarket.

Europe POP industry, on account of the presence of giant OEMs such as BMW, Volkswagen, Mercedes, Renault, etc., is poised to witness a substantial growth over the coming six years. UK and Germany are projected to be the major revenue pockets for Europe.

Browse key industry insights on "Plating on Plastics (POP) Market Size By Finish (Chrome [Cu, Ni & Cr]), By Plastic (ABS, PC, PC/ABS, PEI, PET, PBT, LCP, PEEK, PP, Nylon), By Application (Automotive, Domestic Fittings, Electronics & Electrical), Industry Analysis Report, Regional Outlook (U.S., Germany, UK, China, India, Brazil, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016? 2023." in detail along with the table of contents:

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The automotive sector has been experiencing a rather lucrative growth rate across the Asia Pacific over the last few years. This is essentially due to increased automobile demand across the emerging economies such as India and China, rising deployment of advanced technologies in cars, increasing disposable incomes, and changing consumer lifestyles.

The total automobile production in the Asia Pacific region was 47.60 million units in 2014. This number increased to 47.99 million units in just a year. Automakers such as Nissan, Suzuki, Honda, Toyota, and Mitsubishi and auto parts manufacturers have been shifting their production facilities in APAC owing to favorable government support in the form of tax rebates and other incentives, which will consequently lead to the growth of plating on plastics market. Countries such as Malaysia, Thailand, and Indonesia are also expected to join the elite list of major revenue contributors toward APAC Plating on Plastics industry.

China lead the APAC plating on plastics industry in 2015, and is expected to observe a CAGR of 7.2% over 2016-2023. Driven by China, Asia Pacific Plating on Plastics industry is forecast to witness the highest gains over the next six years. China plating on plastics industry size from automotive applications is expected to cross a revenue of USD 115 million by 2023, with a CAGR estimation of 7.9% over 2016-2023. This growth can be credited to the shifting of OEMs in the region coupled with the extensive increase of automobile sales in the nation

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https://www.gminsights.com/industry-analysis/adhesives-and-sealants-market-report

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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SOURCE Global Market Insights, Inc.