The Plastisol is forecast to smooth over the next few years. According to the WK-chem Research "Global Plastisol Professional Survey Report 2022, Forecast to 2027", with the increasing demand of the textile industry,the Plastisol industry is developing at an incredible speed. According to the WK-chem regression analysis model, the compound annual growth rate (CAGR) for the period 2022-2027 is expected to be 6.50%.
Analysts' Viewpoint
The global plastisol market size is expected to witness significant growth over the forecast period owing to the growing prominence of plastisol coatings in end-use industries such as electrical, medical, and aerospace. Currently, the industry's leading manufacturers include Illinois Tool Company, Franklin International, and others, and innovative product launches and collaborations are key steps these companies take to gain a competitive advantage in the global marketplace.
Market insight
Increasing demand from end-use industries such as automotive and military owing to better adhesion and moisture resistance of plastisols is driving the growth of this market. Plastisols are used in instrument panels and sliding door panels in the automotive industry, and the growth of the plastisol market is driven by increasing demand for electric vehicles. Furthermore, changing lifestyles and increasing demand for colorful clothing are boosting the growth of the plastisol market. Furthermore, the significant growth of the digital printing industry and the increasing availability of minerals for enhancing sealant formulations are key factors expanding the plastisol market trends. However, plastisol-coated garments do not decompose and are difficult to recycle, and plastisols contain toxic phthalates that will adversely affect the growth of the market. The impact of COVID-19 on the plastisol market trends is likely to be asserted: The significant contraction of the global economy has resulted in a decline in the sales of trucks, cars, and motorcycles, which in turn has severely impacted the industrial coatings industry. Given the substance's widespread adoption in the automotive industry as a favorable coating solution, the decline in automotive sales may hinder the growth of the plastisol industry.
Competition Landscape
: This WK-chem market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Plastisol companys that include Illinois Tool Works Inc., Franklin International, Chemence, Dow Silicones Corporation (formerly Dow Corning Corporation), Henkel, H.B. Fuller Company, 3M, The Dow Chemical Company, Bostik .etc.
Market Segmentation
: The plastisol market is segmented by resin type: PVC resin, acrylic resin, and others. PVC resin is the fastest growing segment of the plastisol market during the forecast period, and PVC has found application in almost all end-use industries, from construction to transportation. They are widely used in the manufacture of toys, tool handles, wall coverings, waterproof membranes, etc., which may contribute to the growth of the plastisol market. By end-use industry: construction, military, transportation, medical, textile, agriculture, metal finishing, etc. The textile industry is the fastest growing segment, and plastisols are the most commonly used inks in the textile industry to print designs onto garments. Plastisol inks consist of polyvinyl chloride resin suspended in a plasticizing medium. The main advantages of plastisol inks are their ease of use in textile printing presses, higher productivity, good color opacity and attractive price. Hence, increasing demand for garments in various designs and colors is driving the growth of the textile industry, further increasing the demand for plastisol inks. Plastisol
Regional Market Analysis
In terms of geography, the global Plastisol market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific dominates the plastisol market, and rapid industrialization coupled with an exponentially growing population is driving the growth of the plastisol market. With rising living standards, high purchasing power increases construction activity in emerging economies. Consequently, the increase in construction activities has increased the use of plastisols in coating, sealing and bonding applications. China will maintain the highest growth rate. This growth can be attributed to the increasing sales of paints and coatings by well-known manufacturers in the region. Furthermore, growing real estate activities and manufacturing sub-sectors are likely to increase the demand for plastisol formulations in the region, given the high use of these substances in various construction components.
Cagr: 6.50%
Region with the largest share: Asia-Pacific
Largest country in largest share region: China
Product Type: PVC Resin, Acrylic Resin
Application: Construction, Military, Transportation, Medical, Textile, Agriculture, Metal Finishing, etc.
Leading Company: Illinois Tool Works Inc., Franklin International, Chemence, Dow Silicones Corporation (formerly Dow Corning Corporation), Henkel
