Global Plastisol Market, By Application (Coatings, Moldings, Screen Printing, Adhesives & Sealants), By End-User (Construction, Transportation, Defense, Textiles, Metal Finishing, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2143
  • Available Format: PDF
  • Page: 195

Report Overview

Global plastisol market is growing with the widening application of plastisol's in various end user industries like automobiles where it has been used for manufacturing component covers, and other uses such as cable shrouds, sleeves, hand gear grips, bellows, gaiters, etc.

The global plastisol market was worth USD 16.5 billion in 2020. The market is further projected to reach USD 26.7 billion by the year 2027, growing at the CAGR of 7.2% during the forecast period. The demand for plastisol is growing with its widespread application in different industries such as automobiles, where it is used for manufacturing component covers, as well as cable shrouds, hand gear grips, sleeves, gaiters, bellows, etc. Additionally, as a result of research and development activities, plastisols are expected to find wider application in textile markets by the end of 2027. These are some factors powering the global plastisol market growth worldwide.

global plastisol market

Source: BlueWeave Consulting

Global Plastisol Market- Overview

Plastisol is a liquid plasticizer that contains a suspension of polyvinyl chloride (PVC) or any other polymer particles. It's a synthetic polymer, i.e., a man-made chemical.Plastisol exists in liquid form and can therefore easily be molded into any shape. Produced from salt and ethylene, Plastisol uses less energy and produces fewer emissions than other plastics. Additionally, they are considered incredibly versatile in comparison to other plastics and can be made thin, rigid, and of all colors.

Global Plastisol Market Forecast and Trends

Growth Drivers

Increasing Construction Activities

The increasing construction activities, especially in the emerging economies, is one of the major factors driving the growth of the global plastisol market. Governments of different countries are extending funding for commercial and residential building projects, as well as supporting and encouraging economic growth in countries. Plastisols would therefore probably face increased demand due to their wide use in coating, sealing, and adhesive applications. The construction industry uses plastisols because they are water-resistant, impact-resistant, corrosion-resistant, and have high dielectric strength. These properties make plastisols popular in the construction industry.

Growing Application ofPlastisols In the Automobile Industry

Plastisol plays many roles in the automobile industry, from manufacturing to providing convenience and comfort to consumers. Plastisol provides a form of electrical component protection for workers, owners, and mechanics. Furthermore, it reduces friction and wears on connectors and wiring. In terms of coating purposes, this material is very popular as it offers a sleek, soft appearance and is excellent for enhancing vibration damping.Additionally, plastisols provide chemical and corrosion resistance, as well as water and electricity resistance.  The automobile industry is gaining significant traction, especially in Germany, Japan, and South Korea. Therefore, the demand for plastisols is also estimated to flourish at a high rate in the foreseeable future.

Restraints

Adverse Effects of The Plastisol Environment

Plastisol is a plastic-based ink,therefore it is bound to have adverse environmental effects. In addition, as countries and companies move towards eco-friendly and sustainable alternatives, the global plastisol market is projected to suffer huge losses in the years to come. Plastisol production releases highly toxic chemicals, such as polychlorinated biphenyl (PCB) and dioxin. Therefore, countries with high air pollution would like to take steps to minimize toxins released into the environment, which might negatively impact the global plastisol market during the forecast period.

Impact of COVID-19 on Global Plastisol Market

The COVID-19-pandemic proved to be disastrous for the global plastisol market. It is due to the obstruction in manufacturing and production activities that prevented the end-user industry from purchasing plastisols. As a result of the nationwide lockdowns imposed by different countries to check the spread of the deadly coronavirus, several industries, including construction, textiles, transportation, and others, had their operations restricted, which in turn affected the growth of the global plastisol market. Furthermore, the growing awareness towards sustainability after the pandemic outbreak and the harmful effects of the use of plastics and chemicals are likely to negatively impact the global plastisol market in the upcoming years.

Global Plastisol Market - By Application

Based on applications, the global plastisol market is segmented into coatings, moldings, screen printing, and adhesives & sealants. The coatings segment accounts for the largest market share as it offers soft and matte textures. Plastisols are widely used for protecting metal substrates like iron and aluminum because they protect metals from corrosion and abrasion. Plastisol coatings are generally used in the construction industry for coating clad walls and roofs on industrial buildings, warehouses, and retail units, which drives its market demand.

Global Plastisol Market - By End User

Based on end-users, the global plastisol market is segmented into construction, transportation, defense, textiles, metal finishing, and others. Among these segments, the textile industry currently holds the largest market share and is also estimated to witness the highest CAGR during the forecast period. Plasticizers are increasingly used in the textile industry to treat nonwoven, knitted, and woven textiles. Theos chemical is also used as inks and dyes. Plastisols also offer exceptional color transparency, a high output rate, and cost-effectiveness, making them appealing to textile manufacturers.

Global Plastisol Market - Regional Insights

Geographically, the global plastisol market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all regions, Asia-Pacific leads due to rapid industrialization and thriving manufacturing and production facilities in countries like India, China, and Japan due to the availability of cheap labor.Another factor driving the growth of the plastisol market is the increasing use of plastisols in construction activities, such as coating, sealing, and adhesive applications, as a result of the infrastructural development in emerging economies.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global plastisol market are Bostik, Illinois Tool Works Inc., The Dow Chemical Company, Franklin International, 3M, H.B. Fuller Company, Chemencel, Henkel, Dow Corning Corporation, International Coatings Company, Fujifilm Corporation, Rutland Plastic Technologies, CCR Specialty Chemicals, Monarch Color Corporation, Polyblend, U.S. Plastic Coatings, Wright Coatings Technologies, Rack Coating Service, Indian Dyes Sales, and other prominent players.

The global plastisol market is highly competitive and fragmented due to the presence of numerous industry players. These manufacturers are constantly adopting competitive strategies like partnerships, mergers& acquisitions, collaborations, etc., to expand their product portfolio and establish their footprint in the market.

Recent Developments

  1. In July 2021, Marabu Group, a German manufacturer of screen, digital, and pad printing ink, announced the acquisition of ICON, a Hong Kong-based manufacturer of decorative and functional inks, to expand its product portfolio and strengthen customer service and centricity.
  2. In May 2021, Avient Corp., a US-based specialized and sustainable material solutions and services provider, announced the launch of a consolidated range of plastisol special effect ink and additives.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Application, By End-User, By Region

Key Players

Bostik, Illinois Tool Works Inc., The Dow Chemical Company, Franklin International, 3M, H.B. Fuller Company, Chemencel, Henkel, Dow Corning Corporation, International Coatings Company, Fujifilm Corporation, Rutland Plastic Technologies, CCR Specialty Chemicals, Monarch Color Corporation, Polyblend, U.S. Plastic Coatings, Wright Coatings Technologies, Rack Coating Service, Indian Dyes Sales, and other prominent players.

 

By Application

  • Coatings
  • Moldings
  • Screen Printing
  • Adhesives & Sealants

By End-User

  • Construction
  • Transportation
  • Defense
  • Textiles
  • Metal Finishing
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

 

FAQs:

 

1. What is the current size of the global plastisol market?

Answer: The global plastisol market reached USD 16.5 billion in 2020.

2. What are the major factors driving the growth of the global plastisol market?

Answer: The major factors driving the growth of the global plastisol market are the increasing construction activities and growing application of plastisol in the automobile industry.

3. Who are the key players in the global plastisol market?

Answer: The key players in the global Plastisol market areBostik, Illinois Tool Works Inc., The Dow Chemical Company, Franklin International, 3M, H.B. Fuller Company, Chemencel, Henkel, Dow Corning Corporation, International Coatings Company, Fujifilm Corporation, Rutland Plastic Technologies, CCR Specialty Chemicals, Monarch Color Corporation, Polyblend, U.S. Plastic Coatings, Wright Coatings Technologies, Rack Coating Service, Indian Dyes Sales, and other prominent players.

4. Which end-user segment accounted for the largest share in the global plastisol market?

Answer: The textile segment accounted for the largest share in the global plastisol market.

5. Which region is at the highest growth rate in the global plastisol market?

Answer:The Asia-Pacific region has the largest share in the global plastisol market.