What are the Growth Drivers of Plastisols Market ? Bostik, The Dow Chemical Company, 3M, H.B. Fuller Company, Henkel, Dow Corning Corporation
Plastisols consist of fine polyvinyl chloride (PVC) particles in plasticizing liquids which may be fused without the risk of water or solvent blistering. There are several techniques to process these products such as dipping, coating, spraying and pouring. They find extensive usage in construction industry in piping, fitting, swimming pool liners, in food processing piping, wall coverings, coated paneling’s, chemical processing, coatings and adhesives. Global construction market size surpassed USD 15 trillion in 2017 and is likely to grow significantly owing to population growth and government investment in infrastructure projects which should boost plastisols market growth.
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Plastisols market comprises of moldings, textile printing, coatings, sealants and adhesives. Global coating market size surpassed USD 15 billion in 2018, and is likely to grow to further owing to the evolution of the electric vehicles market, self-driven trucks and automotive cars. Rising disposable incomes; improving living standards; flexible government taxation policies; and rapid technological advancement in products & product offerings, by major international and domestic players at competitive prices should stimulate demand for plastics such as PVC, which, in turn, is driving the plastisols market for coatings application.
Plastisols find widespread usage in industrial apparels, fabrics, home furnishing, footwear, personal protective equipment, and laminated textile. These substances are widely adopted in the textile industry for treating non-woven, knitted, and woven textiles, printing inks and for dying paper or textile. Global textile market size is predicted to surpass USD 1.20 trillion by 2025 owing to increasing disposable income and urbanization which should stimulate market growth. The development of technical textiles that offer protection against high temperatures, molten metal impact, and acid environment is estimated to fuel plastisols market growth.
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Asia Pacific plastisols market size led by Japan, India, China and South Korea should witness significant market growth owing to the shift of textile and apparel manufacturing plants from the US and Europe pertaining to low cost. The regional market is registering growing demand from transportation and textile industries for eco-friendly products. Growing foreign investment in India and China is likely to stimulate product demand in the predicted period.
Significant toxicity of phthalates and PVC is likely to hamper plastisols market growth. Garments coated with plastisols ink do not decompose, are difficult to recycle, and release harmful dioxides & hydrochloric acid on incineration. The most critical hazard of these products is their cleaning and disposal. Proper cleaning system should be used to minimize the environmental effect. Researchers are working to nullify the environmental effects by using non-toxic plasticizers and eco-friendly screen printing inks, which should foster market growth.
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Global plastisols market share is significantly competitive and fragmented among various manufacturers such as Bostik, The Dow Chemical Company, 3M, H.B. Fuller Company, Henkel, Dow Corning Corporation, Chemence, Franklin International, and Illinois Tool Works Inc. Various manufacturers are engaging in strategic mergers & acquisitions, expansions, new product development, joint ventures, agreements, and partnerships to achieve competitive advantage and boost market growth.
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