Reports and Data's latest research study on the Plating Plastics market gives a thorough analysis of it. In this report, the global Plating Plastics market is analyzed historically and currently to assess its potential future development. In order to identify opportunistic business opportunities for stakeholders, the study provides detailed information on the key growth factors, restraints, and key trends that are paving the way for future growth in the Plating Plastics market.
The global plating Plastics market size was USD 405.6 million in 2021 and is expected to register a revenue CAGR of 6.2% during the forecast period. The market growth is primarily driven by factors such as increasing demand from various end-use industries such as automotive, electronics, and aerospace for lightweight, corrosion-resistant, and aesthetically appealing Plastic components.
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Market Overview:
Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
While the wider patterns discussed in the previous section apply to the entire sector, the complexities of the distinctions among the various players indicate the need to analyze trends by segment of the industry. As part of its multiverse series, Deloitte classified chemical sector stakeholders into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups usually has its own strategic imperatives. It is common for vertically integrated natural owners to prioritize continuous improvement over innovation when operating their businesses. By focusing on supply chain efficiency, market innovation, and cost optimization, differentiated commodities flourish in a highly fragmented and complex industry. This is exactly what solution providers do: they focus on maximizing the value of their unique products as well as their application expertise and services.
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Strategic Development:
- In 2021, Columbia Chemical Corporation announced the acquisition of its long-standing partner, Oberon Performance Materials. The acquisition aimed to strengthen Columbia Chemical's product portfolio and expand its presence in the plating plastics market.
- In 2021, Atotech Deutschland GmbH introduced a new range of trivalent chromium plating solutions for plastic parts. These solutions offer high corrosion resistance and improved adhesion, making them suitable for use in automotive and electronic applications.
- In 2020, Technic Inc. announced the launch of its new electrolessnickel plating solution, Techni ENP CM. This solution offers improved wear resistance, corrosion resistance, and uniformity, making it suitable for use in a wide range of industries.
- In 2020, AlmexaAluminio SA de CV invested in new technology for its plating plastics operations. The company installed a new anodizing line that uses eco-friendly processes to reduce its environmental impact and improve its operational efficiency.
- In 2019, Plating Technology announced the acquisition of plastic injection molding company, West-Tech Materials. The acquisition aimed to expand Plating Technology's product offerings and strengthen its presence in the plating plastics market.
Research Methodology: Plating Plastics Market
The research methodology adopted by analysts to compile the Plating Plastics market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Plating Plastics market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Plating Plastics market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Plating Plastics market.
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