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(MoneyNewsWire.Net, June 03, 2018 ) The plastisols market is projected to reach USD 21.02 Billion by 2022, at a CAGR of 6.16% from 2017 to 2022. The market is expected to witness high growth in several growing economies of Asia Pacific and Middle East & Africa owing to the increasing spending power, growth in the infrastructure industry, and growth in the manufacture of textiles and automobiles. Moreover, increasing populations and rising disposable incomes are also contributing significantly to the growth of the plastisols market in Asia Pacific.
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The different applications of plastisols are coatings, moldings, screen printing, and adhesives & sealants. The coatings segment is the largest application in the plastisols market. Factors such as increasing quality standards in end-use industries, such as increasing fire safety regulations in the automotive and upholstery industries; increasing standards for protective clothing; high-performance requirements in the apparel industry; and growing demand for technical textiles are the key drivers for the plastisols market.
Based on end-use industry, the market is segmented into six major types, namely, textile, transportation, construction, metal finishing, defense, toys, and recreational/sports/leisure, among others. Textile industry is the largest market for plastisols in 2016, and will continue its dominance throughout the forecast period. Plastisols find applications in textile products such as industrial fabrics, apparels, personal protective equipment, home furnishing, footwear, laminated textile, and others. Plastisols are also widely used as textile printings inks in the textile industry.
Asia Pacific was the largest market for plastisols in 2016, globally. High consumption potential, growing production capacities, competitive manufacturing costs, and high economic growth are the major driving forces for the market in the region. Asia Pacific is characterized by technological innovations in various segments of the plastisols industry. Asia Pacific is also projected to register the highest growth in the plastisols market. The high growth in the region is expected to be backed by the increasing demand from the textile and transportation industries, coupled with the rising awareness about environment-friendly products. Moreover, the growth of the automobile industry is expected to lead to a surge in the demand for plastisols in the transportation segment. In addition, major global players are establishing export-oriented facilities in the Asia Pacific region, which is thus expected to further lead to an increasing demand for plastisols.
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Toxic nature of PVC and phthalates is considered as the major restraint for the plastisols market growth. The growth of digital screen printing application is expected to act as an opportunity for the stakeholders in the plastisols market. Developments in the market, including new product launches are expected to help the growth of the market. Leading plastisol manufacturers have opted for the new product launch strategy to sustain their market positions. Manufacturers are undertaking investments to increase their production capacities of plastisols to introduce new products. The global plastisols market has a large number of market players; however, the market is led by some major players, such as PolyOne Corporation (US), Fujifilm Corporation (Japan), International Coatings Company (US), Huber Group (Germany), U.S. Plastic Coatings Corporation (US), Carlisle Plastics Company (US), Lancer Group International (Canada), Chemionics Corporation (US), Rutland Plastic Technologies (US), and Polyblend UK Ltd (UK), among others.
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