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 suspensions of PVC resin particles in liquid plasticizers that can be applied as coatings and eventually end up as firm PVC material when heat is applied. Plastisols provide various advantages over other coatings such as resistance to impacts, corrosion, abrasion and electricity. They are widely used for coating of fabrics, leathers, metals, wood and other substrates in end use industries such as automotive, construction, aircraft interiors etc.

Market key trends:

One of the major trends in the Plastisols Market Size is the increasing demand from the automotive industry. Plastisols are widely used by automotive OEMs for coating automotive interiors, exteriors and various components. Properties such as resistance to heat and weathering make plastisols suitable for automotive dashboards, bumpers, grilles, doors and other exterior parts. With the growing automotive production across the globe, especially in emerging economies, the demand for plastisols from this industry is expected to significantly drive the market growth over the forecast period.

Porter's Analysis

Threat of new entrants: Low capital requirement and availability of raw materials has led to high threat of new entrants in the plastisols market.
Bargaining power of buyers: Large customer base and availability of substitutes give moderate bargaining power to buyers in the plastisols market.
Bargaining power of suppliers: Few raw material suppliers and differentiated materials increase bargaining power of suppliers in the plastisols market.
Threat of new substitutes: Emerging water-based coatings pose minimal threat currently to plastisols due to durability and customization benefits of plastisols.
Competitive rivalry: Intense price-based competition exists among established players in the plastisols market.

SWOT Analysis

Strength: Easy processability and wide range of applications of plastisols provide cost effectiveness.
Weakness: Volatility in raw material prices and environmental concerns over PVC content are weaknesses.
Opportunity: Growing end-use industries and development of bio-based plastisols present opportunities.
Threats: Stringent regulations on phthalate content and emergence of substitutes are threats.

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 automotive and construction industries. Regionally, Asia Pacific dominates more than 30% of the global market and is expected to be the fastest growing region due to expansion of end-use industries in China and India. Key players operating in the plastisols market are Fujifilm Holdings Corporation, Lancer Group International, PATCHAM, Avient Corporation, and Carlisle Plastics Company. Fujifilm and Avient Corporation collectively hold over 15% of the global market share.

Regional analysis related content comprises: North America and Europe collectively hold more than 50% share in the global plastisols market led by automotive and construction applications. Asia Pacific is the fastest growing region for plastisols market expanding at 8% CAGR through 2030 with China, India and Southeast Asian countries major hotspots for market growth.

Key players related content comprises: Key players operating in the plastisols market are Fujifilm Holdings Corporation, Lancer Group International, PATCHAM, Avient Corporation, and Carlisle Plastics Company. Fujifilm and Avient Corporation collectively hold over 15% of the global market share.

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