Between 2009 and 2018, the worldwide construction
industry grew from $16.085 trillion to $23.518 trillion, as per the World Bank.
With the rise in the disposable income and urban migration rate, especially in
developing countries, the demand for housing and commercial real estate is
increasingly. This is resulting in an escalating demand for construction
materials, including paints, adhesives, coatings, and sealants. As a result,
the consumption of the raw materials that go into their production is also
surging; one of these raw materials are plastisols, which are a mixture of a
plasticizer and polyvinyl chloride (PVC).
Therefore, with the prosperity of the construction
sector, the plastisols market is predicted to reach $40,464.8 million by
2023, from $26,267.2 million in 2017, at a 7.5% CAGR during 2018–2023. Due to
their insolubility in water and chemical, fire, corrosion, and heat resistance,
such products have numerous applications, such as textile screen printing, coatings,
adhesives & sealants, and moldings. Among these, the largest consumption of
such materials was in coatings, during 2013–2017. Plastisol coatings provide
the surface with texture, color, durability, toughness, and softness.
Get a sample copy of the market analysis report at:http://bit.ly/37AxYC6
During the forecast period, the usage of these products would increase the fastest in the textile screen printing application, which involves the printing of various decorative patterns on a range of fabrics. During the process, a screen with inlets for the ink is placed atop the fabric, so only the uncovered sections on the fabric are printed, much like what happens with a stencil. As plastisol inks are not soluble in water, they do not dry out, even if they are left on the screen for long durations. Additionally, they offer opaqueness, cost-effectiveness, and excellent performance. Thus, with the growing popularity of printed jeans, t-shirts, jackets, sweatshirts, tote bags, and cushions, the consumption of the materials is increasing.
Further, governments around the globe are implementing
supportive policies for plastisol export, import, and commercialization. For
instance, in automobiles, furniture, and upholstery, the use of plastisols has
been made compulsory in numerous nations, owing to their flame-retardant
capabilities. Additionally, the textile sector is receiving government impetus,
which is resulting in the rising usage of plastisol inks. For instance,
Government of Indonesia plans to export textiles worth $75 billion by 2030,
aiming to account increase its share in global textile exports by 5%.
Similarly, 13 textile parks were set up by the Indian government in 2014 to
offer small and mid-size manufacturers financial aid.
Historically, the heaviest usage of such materials has
been recorded in Asia-Pacific (APAC), owing to its increasing disposable income
and expanding end-use sectors, including transportation and textile. Further,
the easy availability of the material, due to its surging production in the
region, also drives the regional market. Several Europe and U.S.-based market
players are shifting their production operations to APAC, as labor and raw
materials are available at low prices here. Within APAC, China is expected to
witness the fastest plastisols market growth during the forecast period,
due to the continuously increasing foreign investments for the production of
such materials in the country.
Hence, as printed textiles become more popular and the
demand for residential and commercial infrastructure grows, the usage of plastisols
would also rise.
No comments:
Post a Comment