Healthy Growth Prospects Predicted for Plastisols Market

by Manish Kumar Digital Analyst

Between 2009 and 2018, the worldwide construction industry grew from $16.085 trillion to $23.518 trillion, as per the World Bank. With the rise in the disposable income and urban migration rate, especially in developing countries, the demand for housing and commercial real estate is increasingly. This is resulting in an escalating demand for construction materials, including paints, adhesives, coatings, and sealants. As a result, the consumption of the raw materials that go into their production is also surging; one of these raw materials are plastisols, which are a mixture of a plasticizer and polyvinyl chloride (PVC).

 

Therefore, with the prosperity of the construction sector, the plastisols market is predicted to reach $40,464.8 million by 2023, from $26,267.2 million in 2017, at a 7.5% CAGR during 2018–2023. Due to their insolubility in water and chemical, fire, corrosion, and heat resistance, such products have numerous applications, such as textile screen printing, coatings, adhesives & sealants, and moldings. Among these, the largest consumption of such materials was in coatings, during 2013–2017. Plastisol coatings provide the surface with texture, color, durability, toughness, and softness.

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During the forecast period, the usage of these products would increase the fastest in the textile screen printing application, which involves the printing of various decorative patterns on a range of fabrics. During the process, a screen with inlets for the ink is placed atop the fabric, so only the uncovered sections on the fabric are printed, much like what happens with a stencil. As plastisol inks are not soluble in water, they do not dry out, even if they are left on the screen for long durations. Additionally, they offer opaqueness, cost-effectiveness, and excellent performance. Thus, with the growing popularity of printed jeans, t-shirts, jackets, sweatshirts, tote bags, and cushions, the consumption of the materials is increasing.

 

Further, governments around the globe are implementing supportive policies for plastisol export, import, and commercialization. For instance, in automobiles, furniture, and upholstery, the use of plastisols has been made compulsory in numerous nations, owing to their flame-retardant capabilities. Additionally, the textile sector is receiving government impetus, which is resulting in the rising usage of plastisol inks. For instance, Government of Indonesia plans to export textiles worth $75 billion by 2030, aiming to account increase its share in global textile exports by 5%. Similarly, 13 textile parks were set up by the Indian government in 2014 to offer small and mid-size manufacturers financial aid.

 

Historically, the heaviest usage of such materials has been recorded in Asia-Pacific (APAC), owing to its increasing disposable income and expanding end-use sectors, including transportation and textile. Further, the easy availability of the material, due to its surging production in the region, also drives the regional market. Several Europe and U.S.-based market players are shifting their production operations to APAC, as labor and raw materials are available at low prices here. Within APAC, China is expected to witness the fastest plastisols market growth during the forecast period, due to the continuously increasing foreign investments for the production of such materials in the country.

 

Hence, as printed textiles become more popular and the demand for residential and commercial infrastructure grows, the usage of plastisols would also rise.

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Created on Feb 17th 2020 04:07. Viewed 275 times.

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