The global plastisols market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, over the forecast period. The major factors driving the growth of the market studied are rapidly growing demand from construction and automotive sectors and growth in demand for printed textiles.
- Adverse environmental effects of plastisols on environment are likely to hinder the markets growth.
- Growing adoption of digital screen-printing applications are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Demand from Building and Construction Industry
- Building and Construction segment is expected to be the fastest-growing end-use industry segment for plastisols market.
- In the building and construction industry, Plastisols are extensively used in piping & fittings for water distribution, electrical conduits, irrigation & sewers, weather stripping, siding, awnings, soffit, skirting, gutters & downspouts, window frames, door frames & cladding, coated paneling, decking & fencing, landfill liners, swimming pool liners, geomembrane, single-ply roofing, floor & wall coverings, maintenance coatings, etc.
- Asia-Pacific and Middle East & African countries are experiencing huge domestic as well as foreign investments for setting up industrial units, hospitals, malls, multiplexes, hospitality industry, and IT sector.
- Asia-Pacific is an attractive market for foreign companies, due to healthy economic performance of the countries, like India, China, Indonesia, etc., and efforts made by the Middle Eastern countries to develop its tourism and other non-oil sectors, which are driving construction activities in these regions.
- China is witnessing the construction of numerous airports in the country, which are either under planning or development phases. In addition, Indian government has also been planning to construct 100 airports by 2032, owing to increasing demand for air commute.
- Owing to all these factors, the market for plastisols is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
- China’s 13th Five Year Plan started in 2016, as it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country. The China’s construction industry developed rapidly in the recent past, due to the central government’s push for infrastructure investment, as a mean to sustain economic growth.
- China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. “Automobile Mid and Long-Term Development Plan”, was released in 2017, with an objective to make China a strong auto power in the next ten years.
- Due to all such factors, the market for plastisols in the region is expected to have a steady growth during the forecast period.
The plastisols market is partially fragmented in nature. Some of the major players in the market include Carlisle Plastics Company, Fujifilm Holdings Corporation, Lancer Group International, PATCHAM, and PolyOne Corporation, among others.
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