Plastisols Market by Application (Coatings, Textile Screen Printing, Moldings, Adhesives & Sealants), by Industry (Textile, Automotive, Construction), by Geography (U.S., Canada, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, U.A.E, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

Plastisols Market Overview

The global plastisols market is estimated to be valued at $26,267.2 million in 2017, and is expected to witness a CAGR of 7.5% during the forecast period. The growing use of plastisols in various industries such as textiles, automotive, and construction is a major factor driving the growth of the market.

Plastisols are suspension mixtures of polyvinyl chloride (PVC) materials and plasticizers. They are not water-soluble and possess many favorable properties such as fire-resistance, chemical-resistance, and corrosion-resistance, which make them ideal for use in various applications such as coatings, screen printing, moldings, and adhesives and sealants.

 

Global Plastisols Market, BY application, kilotons (2013-2023)

On the basis of application, the plastisols market is categorized into coatings, textile screen printing, moldings, and adhesives and sealants. Of these, coatings has been the largest category, with an estimated revenue contribution of more than 25.0% in the global market in 2017. These mixtures are highly used in coating applications as they provide excellent insulation, corrosion-resistance, and outstanding chemical-resistance to the product.

In terms of industry, the plastisols market is categorized into textile, automotive, construction, and others. ‘Others’ include medical and recreational industries. During the forecast period, the demand for the product is expected to witness the highest growth from the textile industry. This is mainly attributed to the increasing preference of people toward printed fabrics and aesthetic home furnishings (cushion and furniture covers).

Of all regions, Asia-Pacific (APAC) has been holding the largest share in the plastisols market. This can be ascribed to the high textile ink production capacity of manufacturers in the region. Additionally, the sales of plastic inks in the region are expected to advance at a CAGR of 8.1% in terms of value, during the forecast period, attributed to the high consumption of screen printing inks in APAC. Moreover, the expanding textile industry in the region is expected to give an impetus to the market growth in the coming years.

Plastisols Market Dynamics

The growing use of plastisol in various industries is the major trend witnessed in the market; and the growth in demand of printed textiles is a key factor driving the market growth.

Trends

The increasing use of plastisol in various industries such as textile, automotive, and construction is the major trend witnessed in the plastisols market. High performance plastisol is gaining momentum over water-based inks owing to its superior thermal conductivity, anti-corrosive properties, and excellent performance when exposed to high temperature and reactive chemicals. Additionally, the mixture does not dry when exposed to air and hence, can be easily reused for multiple purposes. Thus, such characteristics of these plastic inks have increased their adoption among various industries.

Drivers

The textile market is evolving and printing is gaining a foothold in this field, with screen printing as the preferred choice for printing fabrics. Plastic inks are widely used in coating and inking of textiles owing to their cost-effectiveness, opaqueness, and excellent performance on fabrics. The growing demand for printed textiles such as printed tees, jeans, sweatshirts, jackets, cushions, tote bags, bed covers, and other apparels is accelerating the demand for coating inks in the textile industry. Additionally, increasing consumer preference for colored patterns and fabrics with attractive designs is further fueling the plastisols market growth.

The flexible government taxation policies on the import and export of plastisol and its commercialization is also one of the factors driving the growth of the plastisols market. Additionally, the government authorities of various countries have made the use of plastisol coating mandatory; for instance, in industries such as furniture, transportation, and upholstery, the use of plastisol coatings as flame retardants has been made mandatory as a consumer safety measure. This is so because the mixture provides excellent heat and fire-resistance.

Increasing government support for the development and advancement of the textile industry is fueling the market growth. For instance, as per the data provided by Indonesia-Investments, an informational website regarding the country’s economy, the Indonesian government targets to increase the value of exported textile and garments to $75 billion by 2030. With this, the country aims to increase its contribution to the global exports by 5%. In 2014, the government of India set up 13 textile parks, in accordance with the Scheme for Integrated Textile Parks launched in 2005, with the aim to lend financial support to the small and medium entrepreneurs of the textile industry. Thus, all these measures are only accelerating the growth of the textile industry, which in turn is fueling the plastisols market growth.

Restraints

Plastic inks used in the textile industry generate large amounts of wastewater that contains a variety of polluting substances, including organochlorine-based pesticides and heavy metals. Thus, the wastewater released from the process only pollutes the environment and is a health hazard. To combat this issue, many environmental legislations have been imposed to control the release of such materials, thus, hampering the plastisols market growth.

Plastisols Market Competitive Landscape

Some of the major players operating in the global plastisols market are hubergroup Deutschland GmbH, PolyOne Corporation, PolyBlend UK Ltd., Croda International Plc, Lancer Group International, Fujifilm Holdings Corporation, Plastisol Products Inc., International Coatings Co. Inc., Chemionics Corporation, and Monarch Color Corporation.