Coatings application accounted for the largest share in 2016
The coatings segment is projected to be the largest market for plastisols from 2017 to 2022, owing to the rapid growth of the coatings applications segment in Asia Pacific. Factors such as rising disposable incomes; rising living standards; flexible government taxation policies; and rapid technological advancements in products & product offerings, by major international and domestic players at competitive prices are a few of the major factors driving the market for plastics such as PVC, which, in turn, is driving the plastisols market for coatings application.
Construction is expected to be the fastest-growing end-use industry segment in the plastisols market
The plastisols market in the construction industry is witnessing high growth in almost all the regions such as Middle East and Asia Pacific, especially in countries such as China, India, the UAE, and Saudi Arabia, among others. Asia Pacific is projected to be the largest market for plastisols in construction segment between 2017 and 2022. The growth in the housing and infrastructure sectors (hotels, stadium, and restaurants) in Asia Pacific is contributing to the demand for plastisols in the region.
Asia Pacific was the largest plastisols market in 2016
In Asia Pacific, China was the largest market for plastisols in 2016, wherein the plastisol market is driven by demand from industries, such as transportation, construction, and textiles. The market players are undertaking various technological developments and expansions to meet the increasing demand and enhance profit margins. The market in this region has promising growth potential owing to the availability of low-cost raw materials and production of textiles.
The global plastisols market has a large number of market players; however, the market is led by some major players, such as PolyOne Corporation (US), Fujifilm Corporation (Japan), International Coatings Company (US), Huber Group (Germany), U.S. Plastic Coatings Corporation (US), Carlisle Plastics Company (US), Lancer Group International (Canada), Chemionics Corporation (US), Rutland Plastic Technologies (US), and Polyblend UK Ltd (UK), among others.