April 20, 2024

Plastisols Market is Estimated to Witness High Growth Owing to Rising Demand from End-Use Industries

The plastisols market has been gaining significant traction over the past few years owing to the growing application of plastisols in various industries such as construction, transportation, and consumer goods. Plastisols are basically plastic dispersions or suspensions of PVC in a plasticizer. They offer various advantages like corrosion resistance, ease of application, cost-effectiveness, and flexibility. As a result, plastisols find wide usage in coatings for automobile interiors, wall coverings, leather finishes, inks, appliance trim, and flooring. Some other key applications include molded & extruded goods, medical devices, and electrical insulation.

The global plastisols market is estimated to be valued at US$ 18.74 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the plastisols market are 3M, Dow, KONISHI CHEMICAL INC CO., LTD., H.B. Fuller Company., Henkel Adhesives Technologies India Private Limited, CHEMENCE, Illinois Tool Works Inc., ITW Polymers Sealants North America, HERNON MANUFACTURING INC., FUJIFILM Corporation, Avient Corporation, US Plastic Coatings, hubergroup India Pvt. Ltd., International Coatings, Chemionics Corporation, Polyblend, HUTCHINSON, Hodgson Sealants., Lancer Group International, and Carlisle Plastics Company, among others.

The growing construction and automotive industries across major markets such as China, India, the US, Germany, and Japan offer lucrative opportunities for manufacturers in the plastisols market. Furthermore, growing demand for plastisol coatings from various end-use industries is expected to drive the global expansion of the plastisols market during the forecast period.

Market Drivers

Rising demand from end-use industries such as construction, automotive, consumer goods manufacturing is one of the major drivers of the plastisols market. Plastisols provide various advantages like corrosion resistance, flexibility, and durable performance which has resulted in their growing popularity across different applications. Furthermore, supportive government policies and initiatives towards the growth of construction and automotive sectors in developing regions is also expected to boost the demand for plastisols over the coming years.

PEST Analysis

  • Political: Plastisols are subject to regulations regarding their production, formulation and end use. New legislations around solvent emissions and composition can impact demand.
  • Economic: Global economic growth drives the building and construction sectors which are major end users of plastisols. Downturns negatively impact these industries and plastic products demand.
  • Social: Increased focus on sustainability is steering preference toward eco-friendly products. Plastisols with bio-based or recycled content can gain traction meeting this demand.
  • Technological: Advances in additive technologies allow formulating plastisols with enhanced properties. Nano-additives and reinforcements improve mechanical characteristics widening application scope. New coating techniques using plastisols also emerge.

North America accounts for the largest share of the market due to its well-established plastic processing industry which uses plastisols in applications such as automotive, construction and footwear. Within the region, the US contributes significantly to demand.

The Asia Pacific region is growing the fastest for plastisols market led by China, India and other developing Asian countries. This is because of rising construction activity, automotive production and a burgeoning middle class demanding various consumer goods made using plastisols.