by The global Plastisols Market is estimated to be valued at US$ 18.74 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Plastisols are suspensions of finely divided plastic pigments or polyvinyl chloride (PVC) resin in a plasticizer. They are used for coatings and impregnation processes. Plastisols have properties like quick drying time, simplicity of application, and durability making them suitable for automotive and transportation parts, plastic coatings, textiles, metal coatings, gloves, and inflatable structures. Plastisols are available in a wide range of colors making them ideal for printing inks and coatings.
Market key trends:
The growing adoption of artificial intelligence (AI) in manufacturing is expected to propel the market growth. AI can aid in designing lightweight and durable plastisols, improving production processes, and predicting maintenance needs. Additionally, rising investments in research and development of bio-based and hybrid plastisols to reduce dependence on petroleum-based plastisols will present lucrative opportunities. Furthermore, increasing application of plastisols in 3D printing as support materials to make complex geometries will also drive the market forward. However, stringent environmental regulations regarding the use of phthalates plasticizers may hamper market growth over the forecast period.
Porter’s Analysis:
Threat of new entrants: Low capital requirements and established brand loyalty in the plastisols industry poses low threat of new entrants. However, manufacturing plastisols requires extensive technical expertise and established distribution channels act as a barrier.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and price comparison among manufacturers. However, branding and customer loyalty increase switching costs.
Bargaining power of suppliers: Key raw material suppliers possess low bargaining power due to the availability of substitutes and less differentiated products. Suppliers also lack integration with downstream plastisols manufacturers.
Threat of new substitutes: New water-based coatings pose potential threat, however performance disadvantages and certification requirements preserve plastisols demand in specific applications.
Competitive rivalry: Intense competition exists among global plastisols manufacturers. Price competition is high due to low product differentiation. Strong focus on customer service, supply chain management and R&D acts as a competitive strategy.
Key Takeaways
The global Plastisols Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing demand from construction and transportation industries.
Regional analysis: North America dominates the global plastisols market, owing to robust automotive and construction industries in the US and Canada. Asia Pacific exhibits fastest growth due to rising industrialization in China and India along with increasing automotive production.
Key players operating in the plastisols market are Fujifilm Holdings Corporation, Lancer Group International, PATCHAM, Avient Corporation, Carlisle Plastics Company. They focus on new product launches, acquisitions and enhancing production capacities to gain leading market share.
