Di. Dez 7th, 2021
Plastisols Market Size Forecast to Reach Around $25 Billion by 2025

Plastisols Market size is forecast to reach around $25 billion by 2025, after growing at a CAGR of 6% during 2020-2025. Plastisols are a mixture of polyvinyl chloride or other polymers in a liquid called plasticizers. Plastisols have high flexibility and good peel resistant owing its use in various end use industries such as construction, metal finishing, and automotive. Surging demand of polymer clay for jewelry, home decoration, pottery, scrap booking, and sculpture purposes boosts the growth of market. Moreover, the use of Plastisols in textile industry for screen printing is also driving the growth of plastisols market share worldwide during the forecast period. They also find its application in molding and coating processes. Moreover, degradability and environmental impacts of polymers acts as restraint for the growth of plastisols market.

Resin Type – Segment Analysis

PVC resins is the fastest growing segment with a CAGR of around 7.5% in plastisols market during the forecast period. Polyvinyl chloride has found its applications in almost every end use industry ranging from construction to transportation industries. According to the Trade Map report, total 12,515,471 tons of PVC resins in primary form was imported worldwide in 2018 whereas India alone imported 1,955,789 of PVC resin, subsequently boosting the growth of PVC plastisols in Indian market. They are extensively used for making toys, tool handholds, wall covering, waterproofing membrane etc. which is likely to aid the growth of plastisols market.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=500046

Report Price: $ 4500 (Single User License)

Application – Segment Analysis

Based on the application, coatings segments hold the largest share of more than 30% in the plastisols market in 2019. Plastisols serves as a protective, functional, and decorative coating for wide range of applications, primarily for coating of metal parts as it protects the metal from corrosion and wear when they are under constant use. It can be coated via hot dip or cold dip process. Additionally, plastisols coatings offer properties such as non-slip grip, excellent impact strength, and moisture and abrasion resistance. Furthermore, increasing usage of plastisols in wire and cables for electrical as well as thermal insulations is driving the growth of market.

End-Use Industry – Segment Analysis

Textile industry is the fastest growing segment with a CAGR of 8% in the plastisols market during the forecast period. Plastisols are most commonly used inks in textile industry for printing designs on to garments. Plastisols inks are composed of polyvinyl chloride resins suspended in plasticizing medium. Major benefits of plastisols inks are their ease of use in textile printer, higher productivity rate, and good color opacity combined with attractive pricing. According to Trade, Map total apparel and clothing accessories exported all around the globe accounted for USD 247,204,048 in 2019. Whereas, increase in demand of apparels with variety of designs and colors is fueling the growth of textile industries which further escalates the demand of plastisols inks.

COVID-19 proved to be a challenging factor for the plastisols manufacturers due to disruptive supply chain and declining demand from consumers worldwide. Many industries are shuttered due to lack of manpower. The apparel industry body Clothing Manufacturers Association of India (CMAI) has estimated that if no assistance comes from government either in terms of wage subsidy or revival packages there could be loss of almost 1 crore jobs in the entire textile chain. Due to the coronavirus, purchasing capital of people decreased which has direct impact on construction, automotive and textile industries, subsequently affecting the plastisols market.

Geography – Segment Analysis

Asia Pacific dominated the plastisols market with a share of more than 35% in 2019 followed by North America and Europe. Rapid industrialization coupled with exponentially growing population is driving the growth of plastisols market. High purchasing power with the rise in standard of living has increased construction activities in emerging economic nations. The share of construction in Gross Value Added (GVA) was about 7.3 for India in 2017-2018 and total people employed in construction industry was 49.8 million in 2017. Thus, increase in construction activities increases the use of plastisols for coating, sealing and adhering applications.

Drivers – Plastisols Market

Growing demand from automotive and military sector

Increase in demand from end use industries like automotive and military due to the better adhering and moisture repellency properties of plastisols is driving the growth of this market. Plastisols are used in automotive industries for dashboards and slide door panels. Whereas, rise in demand for electric vehicles boosts the growth of plastisols market. Moreover, rising national and international conflicts combined with terrorist attacks, has increased the safety concerns. Developing nations especially China and India are strengthening their military power to combat attacks which in turn escalates the demand for military equipment’s and vehicles. As, plastisols are used for coating hardware and handles of military vehicles enhances its durability, flame retardancy, abrasion, and impact resistant. For instance, according to the Government of India budget report, in FY 2017-18, there was an increase of 5.3% allocation in budget for the Indian military as compared to budget 2016-17. The total budget sanctioned for the Indian military in FY2018-19 was $62.8 billion which accounts for 12.1% of the total Union Government expenditure for FY2018-19. Thus, heavy investment of nations in military sector also boosts the demand of plastisols for coating purposes.

Fashion industry, changing lifestyle and use in casting processes

Changing lifestyle and increase in demand for colorful apparels is augmenting the growth of plastisols market. Plastisols are used for imprinting various patterns on clothes. Rise in adoption of western culture in developing nation such as India, Malaysia, and Indonesia is boosting the demand of colorful apparels. According to Indian Brand Equity Foundation, growth in demand of textile industry is expected to reach US$ 220 billion by 2025. Additionally, use of plastisols in slush molding for making hollow and flexible products such as toys and boots is also aiding the growth of this market during the forecast period.

Talk to one of our sales representative about the full report by providing your details in the link below:


Challenges –Plastisols Market

Degradability and harmful effects of plastisols

Plastisols coated garments do not decompose and are difficult to recycle. Plastisols contains phthalates that is toxic and adversely impacts the growth of market. Phthalates exposures may cause adverse health issues including low fertility, cancer, lungs, and skin disorders. Increase in environmental concerns and harmful effects of plastisols on environment as well as human health acts as a restraint for the growth of market. Moreover, in 2017, the ban of phthalates in children’s toys by the US Consumer Product Safety Commission (CPSC) had has hampering the growth of plastisols market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the plastisols market report. In 2019, the market of plastisols top 10 companies accounting for xx% of the share. Major players in the plastisols market are, PolyOne Corporation, Fujifilm Corporation, International Coatings Company, Huber Group, U.S. Plastic Coatings Corporation, Carlisle Plastics Company, Lancer Group International, Chemionics Corporation, Rutland Plastic Technologies, CCR Specialty Chemicals, Monarch Color Corporation, and Polyblend, among others.

Pressemitteilung teilen:

Schreibe einen Kommentar