PUBLISHER: The Business Research Company | PRODUCT CODE: 1425727
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425727
Plastisols Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plastisols market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plastisols? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plastisols market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Plastisol, a substance comprising a suspension of polyvinyl chloride (PVC) particles within a liquid plasticizer, is found in a liquid state. It offers a range of advantageous properties including toughness, outdoor durability, flexibility, resistance to abrasion, and chemicals.
Resins found within plastisols encompass acrylic resins and PVC resins. Acrylic resin, a thermoplastic derived from acrylic acid, possesses a glass-like quality. Its applications span various industries such as coatings, moldings, screen printing, adhesives, and sealants, serving needs in industrial construction, military, transportation, medical, textile, agriculture, metal finishing, and other sectors.
The plastisols market research report is one of a series of new reports from The Business Research Company that provides plastisols market statistics, including plastisols industry global market size, regional shares, competitors with plastisols market share, detailed plastisols market segments, market trends and opportunities, and any further data you may need to thrive in the plastisols industry. This plastisols market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The plastisols market size has grown strongly in recent years. It will grow from $23.41 billion in 2023 to $25.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the past can be credited to industrial uses, heightened demand within the automotive sector, manufacturing of consumer goods, production of medical and healthcare items, as well as consumer inclination towards PVC products.
The plastisols market size is expected to see strong growth in the next few years. It will grow to $33.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the upcoming period is driven by formulation advancements, the burgeoning packaging industry, bio-based plastisols, regulatory backing for sustainable materials, the desire for soft touch and tactile finishes, and the increasing adoption of plastisols within electronics. Key trends projected for the forecast period encompass innovative strides in product development, adherence to rigorous regulations and compliance standards, and a rise in collaborations and partnerships within the industry.
The surge in automobile demand is expected to drive the growth of the plastisols market. Plastisol, integral in automobile manufacturing, finds use in various components such as grips, electrical insulation, and noise reduction, contributing to safety and comfort. Notably, in August 2022, China witnessed a 32.1% increase in auto sales, reaching 2.38 million units compared to the previous year. India also experienced an 8.3% rise in vehicle sales during the same period, totaling 15,21,490 units. These statistics highlight the correlation between increased automobile demand and the expansion of the plastisols market.
The escalating needs within the construction sector are poised to propel the plastisols market growth. Plastisols play a pivotal role in enhancing structural durability, aesthetics, and performance in construction. A report by Oxford Economics projects a substantial 42% surge in global construction output by 2030, estimated at a significant increase of $4.5 trillion to USD 15.2 trillion. This growth trajectory underscores the direct impact of construction demand on driving the expansion of the plastisols market.
Product innovation stands out as a prevailing trend shaping the plastisols market landscape. Key market players prioritize innovation to gain a competitive edge. For instance, in May 2021, Avient Corporation introduced a line of specialty inks tailored for Plastisol applications. These inks cater to industrial and textile sectors, offering a diverse range of additives and special effect inks, accentuating the company's commitment to innovation within the industry.
Strategic investments mark a focal point for major players in the plastisols market, aiming to broaden capabilities and market presence. Notably, in September 2022, LongAcre Group directed investments toward Polyblend UK Limited, a UK-based producer specializing in liquid plastisols and dispersion systems. This strategic investment aligns with Longacre Group's strategy, emphasizing specialized technical goods and services firms within B2B markets, showcasing a deliberate effort to strengthen market foothold and competitiveness.
In July 2021, Avient Corporation, a US-based manufacturer of plastisols, completed the acquisition of Magna Colours Ltd for $48 million. This strategic move substantially expanded Avient Corporation's portfolio, particularly in collective inks and sustainable solutions. The acquisition aligned with Avient's strategy to enhance its array of sustainable solutions, catering to brand owners seeking alternatives to outdated technology. Magna Colours Ltd., a UK-based plastisol manufacturer, became a pivotal part of this acquisition.
Major companies operating in the plastisols market report are Avient Corporation, FUJIFILM Holdings Corporation, International Coatings Company, 3M Company, The Dow Chemical Company, Franklin International, Bostik, Hodgson Sealants Limited, Polyblend UK Limited, Plastisol Products Inc., Monarch Color Corporation, ITW Polymers Sealants North America Inc., Carlisle Plastics Company Inc., Patcham FZC, PolyOne Corporation, DIC Corporation, Marabu GmbH & Co. KG, Rutland Plastic Technologies, Huber Group, Inksolutions LLC, Bodo Moller Chemie Group, Colormaker Industries Pty Ltd., U.S. Plastic Coatings Corporation, Texhour, Nazdar Company, Advanced Color Solutions LLC, ICC Industries Inc., Fujikura Kasei Co. Ltd., CPS Color Equipment Inc., Union Ink Company LLC, Clariant AG, Lancaster Synthesis Inc., Brancher Company.
Asia-Pacific was the largest region in the plastisols market in 2023. Asia-Pacific is expected to be the fastest-growing region in the plastisols market report forecast period. The regions covered in the plastisols market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plastisols market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The plastisols market consists of sales of plastisols sheathings, connectors on wiring and busbars, and insulators for electrical tools such as those in playground and farm equipment. Values in this market are factory gate values, which are the values of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.