Global plastisols market size is expected to witness appreciable growth over 2021-2027, due to the rising prominence of plastisol coatings in end-use industries such as electrical, medical, and aerospace. Likewise, the escalating usage of plastisol inks in textile screen printing and part manufacturing in the automotive industry will further stimulate the industry forecast in the years ahead. Plastisol refers to a substance that consists of a mixture of a plasticizer and resin, which can be cast, molded, or formed into a continuous film by the application of heat. The substance is a suspension of Poly Vinyl Chloride (PVC) in a liquid plasticizer and is commonly used in various applications, such as inks in screen printers for textile.
Significant growth of the digital printing sector and the increasing availability of minerals for enhancing sealer formulations are key factors proliferating the plastisols market trends. For example, Imerys has developed products like Socal, which is a well-established precipitated calcium carbonate designed to facilitate the right rheological profile in PVC plastisols. In addition, the rapid introduction of advanced plastisol special-effect additives and inks for the printing industry will play a crucial role in promoting market expansion over the estimated timeline. However, the substantial release of dioxin, as well as dioxin-like compounds during the creation of PVC, may act as a restraining factor to the overall market outlook. According to the WHO, dioxins are a group of chemical compounds that are considered POPs (persistent environmental pollutants).
On the basis of end-use, the global plastisols market from the textiles segment will hold a substantial share by 2027. This is attributable to the burgeoning fashion industry, the considerable exports of textile from western countries, and the rapid introduction of new screen-printing plastisol inks. In 2021, Avient Corporation unveiled Zodiac Taurus non-PVC plastisol inks, with an aim to present eco-conscious options for textile printing.
From a regional perspective, the Europe plastisols industry is anticipated to record significant revenue by 2027. This growth can be credited to the escalating sales of paints and coatings by prominent manufacturers in the region. Moreover, the growing real estate activities and manufacturing sub-sectors, especially in Germany, are likely to boost the demand for plastisol formulation in the region, given the robust use of these substances in various building components.
The competitive landscape of the global plastisols market consists of companies such as Illinois Tool Works Inc., Franklin International, Chemence, Dow Silicones Corporation (formerly Dow Corning Corporation), Henkel, H.B. Fuller Company, 3M, The Dow Chemical Company, and Bostik (Arkema), among others. Innovative product launches and collaborations are the key initiatives being undertaken by these companies to gain a competitive advantage over rivals in the global market.
The novel coronavirus outbreak has posed a major impact on the automotive coating sector worldwide, predominantly in South East Asia, despite the presence of prominent automotive producers in the region. Significant contraction in the global economy has resulted in a slump in sales of trucks, cars, and motorbikes, which in turn, has severely impacted the industrial coatings sector. This decline in vehicle sales could thus create roadblocks to the growth of the plastisols industry, given the high adoption of the substance as a favorable coating solution in the automotive sector.
However, the strong focus on digitalization during the pandemic has provided an opportunity for the online textile industry to grow exponentially. Advanced Industry 4.0 technologies, like IoT, 3D printing and “sewbots”, for instance, are likely to become significant disruptive forces for textile production. This, alongside the introduction of various schemes to advance the textile industry, may amplify demand for plastisol inks over the coming years, thereby triggering market recovery.