Dublin, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The "Plastisols Global Market 2023" report has been added to ResearchAndMarkets.com's offering.
The global plastisols market is poised for growth, with an expected increase from $21.89 billion in 2022 to $23.55 billion in 2023, reflecting a compound annual growth rate (CAGR) of 7.6%. Furthermore, projections indicate that the market will continue its upward trajectory to reach $31.09 billion by 2027, with a CAGR of 7.2%.
Automobile Demand: A Driving Force
The robust growth of the plastisols market is strongly influenced by the surging demand for automobiles. A case in point is the automotive market in China. According to data from the China Association of Automobile Manufacturers, auto sales in China reached 2.38 million units in August 2022, marking a significant increase of 32.1% compared to the previous year. Similarly, in India, the Federation of Automobile Dealers Associations reported that vehicle sales in August 2022 reached 1,521,490 units, signifying an impressive growth of 8.3% compared to the same period in 2021. These statistics underscore the strong demand for automobiles and, consequently, the critical role of plastisols in meeting the manufacturing needs of the automotive industry.
Product Innovations: A Notable Trend
Innovations in product offerings are emerging as a notable trend within the plastisols market. Leading companies in the industry are actively engaged in developing novel products to gain a competitive edge. For instance, Monarch Color Corp, a US-based accurate printing supply company, introduced two new plastisol inks in March 2020: ULT II and ULT Shield Grey. ULT II is an ultra-low temperature white plastisol ink that offers improved usability for manual printers. It pairs seamlessly with ULT Shield Grey, an ultra-low temperature, dye-blocking under base grey. The combination of these two innovative products enhances the printing process and expands the options available to printers.
Industry Developments: Acquisitions for Expansion
In July 2020, PolyOn, a US-based manufacturer of specialized polymer materials, acquired Clariant Masterbatch in a deal valued at $1.44 billion. This strategic acquisition paved the way for the formation of Aviant, a merged entity that focuses on delivering sustainable solutions to customers. Clariant Masterbatches, a US-based company, specializes in manufacturing various chemicals and plastic products, including polyvinyl chloride (PVC), plastisols, and special effect concentrates. This move emphasizes the industry's commitment to growth and innovation.
Regional Landscape
The Asia-Pacific region emerged as the largest market for plastisols in 2022. Additionally, Asia-Pacific is anticipated to exhibit the fastest growth rate throughout the forecast period. The market report encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Key Players Shaping the Market
Influential players shaping the plastisols market landscape include 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., Chemionics Corporation, Monarch Color Corporation, ITW Polymers Sealants North America Inc., Carlisle Plastics Company Inc., Lancer Group International, and Patcham FZC.
Conclusion
The global plastisols market is on a trajectory of growth driven by the surging demand for automobiles and continuous product innovation. Plastisol's versatility and applications in various industries, particularly the automotive sector, underscore its importance. Industry players are actively investing in product development and strategic acquisitions to foster expansion and innovation. As Asia-Pacific takes the lead, the market's dynamics present opportunities for growth and development in the coming years.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2027 |
| Estimated Market Value (USD) in 2023 | $23.55 Billion |
| Forecasted Market Value (USD) by 2027 | $31.09 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Key Topics Covered
1. Executive Summary
2. Plastisols Market Characteristics
3. Plastisols Market Trends and Strategies
4. Plastisols Market Macro Economic Scenario
5. Plastisols Market Size and Growth
6. Plastisols Market Segmentation
7. Plastisols Market Regional and Country Analysis
8. Asia-Pacific Plastisols Market
9. China Plastisols Market
10. India Plastisols Market
11. Japan Plastisols Market
12. Australia Plastisols Market
13. Indonesia Plastisols Market
14. South Korea Plastisols Market
15. Western Europe Plastisols Market
16. UK Plastisols Market
17. Germany Plastisols Market
18. France Plastisols Market
19. Eastern Europe Plastisols Market
20. Russia Plastisols Market
21. North America Plastisols Market
22. USA Plastisols Market
23. South America Plastisols Market
24. Brazil Plastisols Market
25. Middle East Plastisols Market
26. Africa Plastisols Market
27. Plastisols Market Competitive Landscape and Company Profiles
28. Key Mergers and Acquisitions in the Plastisols Market
29. Plastisols Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes:
- 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.
- Chemionics Corporation
- Monarch Color Corporation
- ITW Polymers Sealants North America Inc.
- Carlisle Plastics Company Inc.
- Lancer Group International
- Patcham FZC
For more information about this report visit https://www.researchandmarkets.com/r/4txw2d
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