New York, NY -- (SBWIRE) -- 08/10/2018 -- The global plastisol market size is projected to reach $40.4 billion by 2023, growing at a CAGR of 7.5% during 2018-2023. The market growth is mainly driven by growing demand of plastic inks for coating and textile-printing applications. Plastisol are a blend of polyvinyl chloride (PVC) materials and plasticizers. They are mainly used as inks for printing fabrics and home furnishes (cushion and furniture cover).

Growth in demand of printed textiles is a major factor driving the growth of the plastisol market. The textile market is evolving, and printing is gaining a foothold in this field, with screen printing as the preferred choice for printing fabrics. Plastisol are widely used in coating and inking of textiles owing to their cost-effectiveness, opaqueness, and excellent performance on fabrics.

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The growing demand for printed textiles such as printed tees, jeans, sweatshirts, jackets, cushions, tote bags, bed covers, and other apparels is accelerating the demand for plastisol in the textile industry. Additionally, increasing consumer preference for coloured patterns and fabrics with attractive design is further fuelling the market growth.

Growing adoption of digital screen printing is creating major opportunities in the plastisol market. Digital screen printing is a relatively new process in which the printing on fabrics is processed through computers. The process uses plastisol ink jet printer on which the fabric (to be printed) is directly placed and the ink is squirted directly on to it. This method of printing is faster and requires less manual inputs and labour. Also, digital screen printing reduces the chances of errors in printing. Hence, owing to these factors, the adoption of this printing process is growing, which in turn is providing opportunities for the plastisol market growth.

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Europe has been holding the third largest share of the global plastisol market, with respective estimated volume and value contributions of 13.4% and 15.7% in 2017. The market in the region is being driven by the entry of new textile ink players, expanding textile industry, and high production of textile printing materials. Further, Germany holds a strong textile base and is a major player in foreign trade of textiles and clothing. The country is the fourth largest exporter of textiles and clothing worldwide, registering an export quota of 42% in 2013. Hence, owing to the growing production of printed apparels and huge R&D investments by textile manufacturers, the demand for plastisol is growing significantly in the region.

Some of the major players operating in the global plastisol market are PolyOne Corporation, hubergroup Deutschland GmbH, Croda International Plc, PolyBlend UK Ltd., Fujifilm Holdings Corporation, Lancer Group International, International Coatings Co. Inc., Plastisol Products Inc., Monarch Color Corporation and Chemionics Corporation.

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