Plastisols are coatings and inks made from PVC resin dispersed or dissolved in a plasticizer. They offer advantages like durability, corrosion resistance, and flexibility. Plastisols are widely used in automotive, construction, clothing, and signs industries.
The global Plastisols Market is estimated to be valued at US$ 18.74 Billion 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 key trends:
The demand for waterborne coatings from industries like automotive, construction etc. is fueling the growth of plastisols market. Waterborne coatings offer environmental friendliness and ease of application over traditional solvent-borne coats. They contain low VOCs and help reduce air pollution. Plastisols makers are developing new waterborne varieties with properties matching solvent type to tap growing demand from sustainable coatings segment. They provide flexibility and corrosion resistance of plastisols with eco-friendliness of waterborne technology. This key trend of waterborne coatings demand is propelling the plastisols market during the forecast period.
Strength: Plastisols have excellent adhesion properties and chemical resistance which makes them suitable for a variety of applications. Their ease of application also reduces processing costs.
Weakness: Plastisols have low solid content which increases drying time and makes them unsuitable for applications requiring quick drying. They also have limited resistance to heat and solvents.
Opportunity: Growing demand from industries like construction and automotive offers huge opportunities. Increasing use of plastisols as coatings and in molding flexible parts also presents avenues for growth.
Threats: Strict environmental regulations around VOC emissions pose threats. Declining prices of alternative materials can reduce market share of plastisols.
The global Plastisols market is expected to witness high growth. The market size is projected to reach US$ 18.74 Bn by 2024 with a CAGR of 7.2% during the forecast period of 2023 to 2030.
The Asia Pacific region currently dominates the global market and is expected to maintain its lead through 2030. Growing construction and automotive industries in China and India are major drivers. North America is the second largest market led by the US while major European nations like Germany and France also offer sizeable demand.
Key players operating in the Plastisols market are 3M, Dow, KONISHI CHEMICAL INC CO., LT. 3M and Dow have the largest market shares due to their wide product portfolios and global presence. Asian players like KONISHI are also expanding aggressively through strategic investments and partnerships.