The plastisols market is projected to reach USD 21.02 billion by 2022, at a CAGR of 6.16% between 2017 and 2022
LONDON, Jan. 9, 2018 /PRNewswire/ -- Plastisols market projected to reach USD 21.02 billion by 2022
The plastisols market is projected to reach USD 21.02 billion by 2022, at a CAGR of 6.16% between 2017 and 2022. The drivers for this market are the increasing demand for automobiles, growth in textile and construction industries, and the shifting of manufacturing industries to Asian countries.
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The demand is also expected to be driven by the growing applications such as coatings and screen printing, among others. Increasing quality standards and performance requirements have made it inevitable for manufacturers to avoid adding plastisols as coatings or moldings. In addition, government authorities of various industries have posed several regulations on the end-use industries. For instance, in industries such as transportation, furniture, and upholstery, the use of plastisols coatings such as flame retardants has been made mandatory in order maintain and sustain a safe environment for consumers.
Screen Printing–Estimated to be the fastest-growing type in the plastisols market
Plastisols are amongst the most widely used inks for screen printing. Their properties such as durability, high opacity, ability to sit on screen for long periods, and versatility make them the most commonly used inks for printing.
Asia Pacific was the largest market for screen printing in 2016, in terms of volume. The shift of textile and apparel manufacturing plants from the US and Europe to the countries in Asia Pacific due to low cost is attributed to the region's dominance in the textile industry.
Additional factors such as availability of abundant and cheap manpower, vast natural resources, and favourable economic policies also make the region a manufacturing hub of textiles. All these factors will support the growth of plastisols market in screen printing application.
Textile–The largest end-use industry in the plastisols marke
In plastisols market, textile was the largest end-use industry segment, in 2015, in terms of volume. Factors such as rising income levels of middle class population, expanding production capacities, and domestic demand from countries such as China and India will support the growth of the plastisols market.
Growing demand for textiles in Asia Pacific will also contribute towards the market growth. The market growth in the region is mostly attributed to China, as it is the largest textile market. The large consumer market and lower cost of production in India and China are driving the textile market in the region, which, in turn, is driving the plastisols market. Moreover, rapid urbanization, demand for automobiles, and the reviving construction industry in countries such as Malaysia, Singapore, Indonesia, and Thailand are expected to support the growth of the plastisols market in Southeast Asia during the forecast period.
Asia Pacific expected to be the largest and the fastest-growing plastisols market
The high growth of the plastisols market in Asia Pacific is mainly driven by countries such as China and India. The growth in the Chinese market is driven by foreign investments because of low labor costs and higher profit margins.
The country has undergone massive globalization and consolidation with heavy capital investments and development projects in the infrastructure sector to maintain its position in the competitive global market. It is currently one of the fastest-growing economies. As a result of the surging manufacturing, transportation, and construction sectors, the plastisol coating-based fabrics manufacturers are increasing their presence in China, which, in turn, will support the plastisols market. The government proposals to improve public infrastructure and rising cash-intensive construction projects are also driving the plastisols market.
Break-up of profiles by the primary participants for the report
• By Company Type: Tier 1 – 37%, Tier 2 – 50%, and Tier 3 – 13%
• By Designation: C Level – 50%, Director Level – 31%, and Others – 19%
• By Region: North America – 28%, Europe – 22%, Asia Pacific – 17%, Middle East & Africa – 28%, and South America – 5%
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.
Research Coverage
The plastisols market for this study is segmented on the basis of end-use industry and application. The application segment is further segmented into coatings, moldings, screen printing, and adhesives & sealants. The end-use industries for this report include textile, transportation, construction, metal finishing, defense, and others.
Key benefits of buying the report
This research report is focused on various levels of analyses—industry analysis (industry trends), dive matrix, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the plastisols market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on plastisols offered by the top players in the global plastisols market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the plastisols market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for plastisols across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global plastisols market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the plastisols market
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