May 28, 2024

The Plastisols Market is Expected to be Flourished by Growing Demand for Plastisol based Coatings in Various Industry Verticals

Plastisols are comprised of polyvinyl chloride (PVC) resin dispersed in a plasticizer. They are commonly used in coatings for materials like leather, textiles, paper, metals, and wood. Some key applications of plastisols include automobile interior plastics, wire and cable jacketing, toys, apparels, shoes, and clothing. They offer properties like adhesion, flexibility, resistance to abrasion and chemicals, and stability in a wide temperature range. The global plastisols market is driven by growing demand for plastisol based coatings from various industries like construction, automotive, and consumer goods. Plastisol coatings provide excellent adhesion and weatherability properties required for applications like metal roofing and sidings.

The global Plastisols Market is estimated to be valued at US$ 18.74 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Increased demand for Plastisol based coatings and Growing construction activities are expected to drive the global plastisols market over the forecast period. Plastisols provide excellent bonding and adhesion properties required for applications in construction like metal roofing and siding. Their flexibility and stability also make them suitable coatings for infrastructure. Furthermore, recovery of the automotive industry post pandemic is also fueling consumption of plastisols in automobile interior parts manufacturing. The global plastisols market is expected to be further propelled by growing applications in the apparel industry where plastisols are used for clothing, shoes and leather goods production.

Segment Analysis

The plastisols market is dominated by the automotive sub segment which holds more than 35% share of the overall market. Plastisols find widespread application in automotive interiors such as dashboard, door panels, seats etc. due to their properties like flexibility and resistance to heat and corrosion. The automotive industry is growing at a rapid pace globally which is increasing the demand for plastisols from OEMs for interior applications.

PEST Analysis

  • Political: trade policies and environmental regulations influence the plastisols market. Strict regulations around usage of VOC releasing plasticizers can impact market growth.
  • Economic: growth of end use industries such as construction and automotive drives the plastisols demand. increasing infrastructure projects positively impact the market.
  • Social: rising living standards and disposable income increase consumption of consumer goods using plastisols.
  • Technological: development of bio-based plasticizers and introduction of recycled PVC to make plastisols support the sustainable growth of the market.

Key Takeaways

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

Regionally, Asia Pacific dominates and is expected to continue its dominance holding over 40% market share owing to rapid infrastructural growth and expansion of end use industries in countries like China and India. China dominates the APAC plastisols consumption.

Key players related content comprises: Key players operating in the plastisols market are 3M, Dow, KONISHI CHEMICAL INC CO., LT. 3M and Dow are global leaders in plastisols with strong product portfolio and geographical presence.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it