The 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 a type of vinyl dispersion that is made by suspending polyvinyl chloride resin in a plasticizer. They are used for coating or dipping applications and can adhere to a variety of surfaces including metals, woods, ceramics and other materials. Key use cases of plastisols include coatings for boots, shoes, apparel, electronic products, automobile trims and other industrial parts where tough, durable and flexible finishes are desired.

Market Dynamics:
The growth of the plastisols market is driven by increasing demand from automotive, footwear, construction and other end use industries. Plastisols offer advantages like excellent weather resistance, heat resistance, chemical resistance and flexibility. They are widely used as coating, bonding and laminating material in these industries. Additionally, growing construction spending in emerging economies of Asia Pacific and Latin America is also fueling market growth. However, strict environmental regulations around plasticizers used in plastisols may hamper market expansion.

SWOT Analysis
Strength: Plastisols have three key strengths. They offer versatility in applications, as they can be used on a variety of substrates. They also provide durability and resistance to weathering. Further, plastisols are cost-effective compared to other coating solutions.
Weakness: Two main weaknesses of plastisols are that they have limited resistance to solvents and chemicals. They also have slow curing properties.
Opportunity: There are two major opportunities for plastisols. Growing application in new industries like construction and automotive presents an opportunity. Also, development of bio-based plastisols using renewable resources can further drive the market.
Threats: Strict environmental regulations around VOC emissions and plastic waste pose threats to plastisols market. Secondly, availability of alternatives like water-based coatings are threatening plastisols market share.

Key Takeaways

The global plastisols market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing demand from various end-use industries like construction, automotive, and fabrication.

Regional analysis:
North America dominates the plastisols market and is expected to maintain its leading position over the forecast period. This can be attributed to high demand from construction and automotive industries in the region. Asia Pacific exhibits the fastest growth in plastisols market supported by thriving industries and growing construction activities in countries like China and India.

Key players
Key players operating in the plastisols market are 3M, Dow, KONISHI CHEMICAL INC CO., LTD., H.B. Fuller Company., Henkel Adhesives Technologies India Private Limited, CHEMENCE, Illinois Tool Works Inc., ITW Polymers Sealants North America, HERNON MANUFACTURING INC., FUJIFILM Corporation, Avient Corporation, US Plastic Coatings, hubergroup India Pvt. Ltd., International Coatings, Chemionics Corporation, Polyblend, HUTCHINSON, Hodgson Sealants., Lancer Group International, and Carlisle Plastics Company, among others.