Plastisols market is projected to reach $40,464.8 million by 2023, according to P&S Intelligence.
The market growth is mainly driven by growing demand of plastic inks for coating and textile-printing applications. Plastisols are a blend of polyvinyl chloride (PVC) materials and plasticizers. They are mainly used as inks for printing fabrics and home furnishes (cushion and furniture cover).
Insights on market segments
On the basis of application, the plastisols market is segmented into coatings, textile screen printing, moldings, and adhesives and sealants. Of these, textile screen printing is expected to be the fastest growing category during the forecast period, with a CAGR of 7.7% in terms of volume. Growing adoption of textile screen printing in apparels is fueling the market growth in the region.
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 high growth is mainly powered by the increasing adoption of printed textiles and the growing awareness regarding digital textile printing.
Browse report overview with 88 tables and 36 figures spread through 114 pages and detailed TOC on "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" at: https://www.psmarketresearch.com/market-analysis/plastisols-market
Plastisols market to witness the fastest growth in APAC during the forecast period
Asia-Pacific (APAC) is expected to be the fastest growing plastisols market during the forecast period, showcasing a CAGR of 8.1% in terms of value. The leading position of the region is powered by high plastisol production capacity of regional players and high economic stability. The market in the region is also characterized by technological innovations and increasing demand from the textile and transportation industries. In addition, major players are establishing export-oriented facilities in the region, which is further expected to fuel the market growth in APAC.
North America is estimated to be the second largest region in the plastisols market, with an estimated revenue contribution of more than 20.0% in 2017. The high use of plastisol for textile screen printing and favorable regulatory policy for the commercialization of the product are the major factors driving the market in the region. Furthermore, the presence of large number of textile ink manufacturers such as PolyOne Corporation, PolySol LLC, and International Coatings Co. Inc. in the region is also driving the market growth.
MEA is estimated to hold more than 6.0% revenue share in the global market in 2017. The plastisols market is currently in nascent stage in the region; however, it is expected to witness increasing growth in the coming years, owing to growing demand for screen printing. Production of high-quality inkjet print heads, launch of cost-effective competitive printing solutions, and the presence of open system inkjet printing materials that enable the use of inks from multiple vendors, are expected to drive the adoption of digital printing technology, which in turn is expected to fuel the market growth in the region.
Growing adoption of digital screen printing is expected to provide growth opportunities for the market
Digital screen printing is a relatively new process in which the printing on fabrics is processed through computers. The process uses plastisol ink jet printer, on which the fabric (to be printed) is directly placed and the ink is squirted directly on to it. This method of printing is faster and requires less manual inputs and labor. Also, digital screen printing reduces the chances of errors in printing. Hence, owing to these factors, the adoption of this printing process is growing, which in turn is providing opportunities for the growth of the plastisols market.
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.
GLOBAL PLASTISOLS MARKET SEGMENTATION