Global Market for Masterbatch is Projected to Reach US$11 Billion by 2020
Need to Achieve Colors & Special Effects in Plastics
Drives Growth in the Global Masterbatch Market, According to New Report by Global Industry Analysts, Inc.
GIA launches
comprehensive analysis of industry segments, trends, growth drivers, market
share, market size and demand forecasts on the global Masterbatch market. Global
market for Masterbatch is projected to reach US$11 billion by 2020, driven
by rising demand for colorful plastics from end-use markets such as packaging, and
consumer goods, among others.
Masterbatches
are raw materials used as colorants for plastics which find applications in
almost all areas of plastic processing as a standard method of adding colorant
to bulk and uncolored resin. Steady economic growth, rapid industrialization,
increasing production of plastic products and components, and continuous penetration
of masterbatch vis-à-vis competing coloring methods, remain key driving forces in
the market. Product innovation and differentiation are among the key strategies
adopted by masterbatch manufacturers to gain a competitive edge in the market. Key
innovations which have benefited the market, over the past few years, include anti-shrinkage
masterbatch, flame-retardant masterbatches for PP pipes and PC sheets, anti-fog
masterbatches for food packaging, anti-microbial and odor managing
masterbatches, and masterbatches for biopolymer and biodegradable resins.
Future growth
in the market is forecast to come from emerging economies, and the growing
demand from end-use markets for sophisticated color formulations. China and
India, especially, stand out as noteworthy markets, given the mass exodus of
production activities to low-cost Asian countries. Increase in foreign
investments, and rise in the number of new manufacturing establishments are key
factors encouraging Asia’s rise to prominence in the masterbatch market. Technology
advances that help impart desired color and property to plastics while
simultaneously reducing cost, is also expected to turbocharge growth in the
coming years, especially against the backdrop of evolving demand for high
performance and functional products from various end-user markets. This demand
for improved performance will continue to push manufacturers to invest in
R&D in efforts to improve product capabilities.
With manufacturers
of consumer products seeking packaging materials that facilitate low cost
production, and ensure product protection during storage and transportation, demand
is expected to rise for advanced masterbatches that offer functional
performance as well as aesthetic appeal. The market is expected to gain
strongly from automotive as well as consumer goods industries. As stated by the
new market research report on Masterbatch, Europe represents the largest market
worldwide. Asia-Pacific is forecast to register the fastest CAGR of 5.7% over
the review period led by increased plastic processing activity. Color
masterbatch, which finds application in the production of plastics for
appliances, food and beverage, automotive and pharmaceutical packaging, accounts
for the largest share of the global market, in volume terms. Additive
masterbatches are forecast to witness the fastest growth driven by increased
demand in personalized plastic products.
Major players covered
in the report include A. Schulman Inc., Americhem Inc., Ampacet Corporation, BASF, Cabot Corporation, Clariant
International Ltd., Dainichiseika Color & Chemicals Mfg. Co. Ltd., DIC
Corporation, Dow Corning Corporation, Ingenia Polymers Corporation, PolyOne
Corporation, Polyplast Muller Group, RTP Company, Teknor Apex Company, and The
Ravago Group, among others.
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