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Plastisols Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast
Plastisols Global Market Report 2024
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According to The Business Research Company's, 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 growth in the historic period can be attributed to industrial applications, automotive sector demand, consumer goods manufacturing, medical and healthcare products, consumer preferences for 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 growth in the forecast period can be attributed to advancements in formulation, growth in packaging industry, bio-based plastisols, regulatory support for sustainable materials, demand for soft touch and tactile finishes, adoption of plastisols in electronics. Major trends in the forecast period include innovation in product development, stringent regulations and compliance standards, collaborations and partnerships.
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Market Drivers and Trends:
The increasing demand in construction industry is expected to propel the growth of the plastisols market going forward. Construction refers to the process of planning, designing, assembling, and building physical structures, facilities, or infrastructure. Plastisols offer a multitude of benefits in the construction industry, enhancing the structural integrity, aesthetics, and performance of buildings while also providing cost-effective and environmentally friendly solutions. For instance, in September 2021, according to Oxford Economics, a UK-based economic information services company, the global construction output by 2030 is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing demand in construction industry is driving the growth of the plastisols market .
Product innovations have emerged as a key trend gaining popularity in the plastisols market. Major companies operating in the market are focused on innovating new products to gain a competitive edge in the market. For instance, in May 2021, Avient Corporation, a US-based company that manufactures plastisols launched avient specialty inks. These are unified line of additives and special effect inks for Plastisol. Avient Specialty Inks offers a variety of inks and colorants that are used in the screen printing, industrial, and textile industries and provides specialty inks for industrial applications as well as a spectrum of screen printing inks for the textile industry .
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Major Key Players of the Market:
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 Möller 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 Companyc
Plastisols Market 2024 Key Insights:
• 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%.
• Rising Automobile Demand Fuels Growth In The Plastisols Market
• Innovative Product Offerings Reshaping The Plastisols Market
• Asia-Pacific was the largest region in the plastisols market in 2023
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