Global Plastisol Market - 2019-2026
tings, textile screen printing, moldings, and adhesives & sealants)
Plastisol Market Overview
The Global Plastisol Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Plastisol is a suspension of PVC or other polymer particles in a liquid plasticizer; it flows as a liquid and can be poured into a heated mold. When heated to around 177 degrees Celsius, the plastic particles dissolve and the mixture turns into a gel of high viscosity that usually cannot be poured anymore. Aside from molding, plastisol is commonly used as a textile ink for screen-printing and as a coating, particularly in outdoor applications (roofs, furniture) and dip-coating.
Plastisols are dispersions of homopolymers and vinyl acetate copolymers of vinyl chloride in conventional polyvinyl chloride plasticizers. Plastisols are also composed of pigments, fillers, thixotropic agents, blowing agents, stabilizers, etc.
Global Plastisols Market – Market Dynamics
The global Plastisols market is primarily driven by the surging industrial as well as commercial applications in umpteen end-user industries. The low volatility and odor features of plastisol are widely escalating the demand for defense & military grade plastisol. In addition to this, the availability of plastisol in a variety of finishes such as high gloss, matte/satin, textured, suede is promulgating applications of plastisol in the medical products, toys, etc. Consequently, the global plastisol market is expected to grow steadily over the coming years.
Increasing number of fire safety regulations across automotive industries and upholstery leads to need for compliance with quality standards, thereby driving the demand and supply of plastisols. Growing high-quality performance demand across the apparel industry with rising standards of protective clothing as well as increasing demand for the technical textiles further drives revenue growth of plastisols market. Growing demand from construction industry with increasing need for fittings, piping’s and coatings is fuelling the growth of plastisols market at a notable pace.
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. However, toxic nature of PVC and phthalates is likely to hinder the growth of plastisols market.
Global Plastisols Market – Segment Analysis
By application, the global plastisols market is segmented into coatings, textile screen printing, moldings, and adhesives and sealants. In 2018, coatings segment accounted for the largest market share in global plastisols market. These mixtures are highly used in coating applications as they provide excellent insulation, corrosion-resistance, and outstanding chemical-resistance to the product.
By end-user industry, the global plastisols market is segmented into textile, automotive, construction, and others (medical and recreational industries). Textile segment is expected to witness highest CAGR during the forecast period. This is mainly attributed to the increasing preference of people toward printed fabrics and aesthetic home furnishings (cushion and furniture covers).
Global Plastisols Market– Geographical Analysis
By geography, the global Plastisols market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
In 2018, APAC accounted for the largest share in the global 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% in terms of value, during the forecast period, due 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.
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%.
North America is expected to witness steady growth during the forecast period, owing to the rapidly growing automotive and construction sectors. The booming demand for plastisols in the automotive industry is expected to drive this regional market in the future. Additionally, the increasing demand for printed textiles is likely to further drive the plastisols market in the upcoming years.
North America is the second largest market in the Global Plastisols Market after APAC. The US is leading the market in this region, which is attributed to huge demand of packaged food and other retail products and growing foods & beverages industry.
Global Plastisols Market– Competitive Analysis
Plastisols market is highly competitive and thus manufacturers continuously focus on developing new strategies in order to grab more number of customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Plastisols. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Plastisols. Merger, acquisition and product development are key strategies adopted by leading players.
The major players include PolyOne Corporation, Dow Inc., Fujifilm Holdings Corporation, U.S. Plastic Coatings, and Lancer Group International. Other prominent players in the market are Progressive Coatings, Patcham, Monarch Color Corporation, Huber Group International Coatings Company, Rutland Plastic Technologies, and Hernon Manufacturing, Inc., among others.
In 2019, Monarch Color Corporation launched new Plastisol Ink Line. Its Stark ink line utilizes the company’s advanced technology at standard cure temperatures.
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