The Global Masterbatch Market is projected to reach US$13 billion by 2024
Demand for Colorful Plastics in Myriad Hues and Shades Spurs Growth in the Global
Masterbatch Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Masterbatch market. The global Masterbatch market is projected to reach US$13
billion by 2024, driven by the rising
significance of colorful plastics in major end-use markets of packaging,
construction and automotive sectors. Technology advancements aimed at improving
masterbatch characteristics and increased focus on biodegradability will also
drive growth in the coming years.
Masterbatches are
omnipresent raw materials used as colorants for plastics. Masterbatch has
become an indispensable product with applications in almost all areas of
plastic processing, including injection molding, extrusion, rotational molding,
sheet, film, and blow molding. Masterbatch allows processors to improve the
appearance and performance of raw polymer/resin in a cost-effective manner
during the plastic manufacturing process. Diverse end-use markets range from
automobile, construction, package, consumer goods, wire and cable, and
electronic appliances among others. Masterbatches are also incorporated into
end-use products such as toys, housewares, stadium seating, pipe, vinyl siding,
medical packaging, and food packaging.
With dynamics of the
masterbatch market linked to trends in the plastics industry, steady
improvements in demand for colorful plastics from major end-use sectors of
automotive, electronic appliances and consumer goods is expected to bolster
growth in the masterbatches market. Positive economic environment and ensuing
rise in demand for plastics products will lead to higher demand for
masterbatch. Rising production of plastic compounds and growing use of
packaging goods are expected to fuel growth in the masterbatch market. Rapid
pace of industrialization, increased focus on infrastructure development
projects and growing use of lightweight plastics in place of traditional
materials also favor the masterbatch market. Future demand for masterbatches
will be driven by emerging economies and increasing inclination of consumers
for sophisticated color formulations.
Masterbatch market is
being impacted by a number of emerging trends including the rising demand for
flame retardant and anti-shrinkage masterbatches for use in PC sheets and PP
pipes, and growing focus on biodegradable masterbatch products. Among the most
prominent trends is the increase in demand for biodegradable resins. With waste management becoming a key focus area, the upcoming years
will witness increased emphasis being placed on renewable and bio-based raw
materials in emerging markets. Demand for biodegradable resins is also expected
to gain traction owing to its ability to cut down overall carbon dioxide
emissions and hence reduce carbon footprint.
Packaging
represents the largest end-use market for masterbatch. Growth in the segment is
being driven by the growing use of masterbatch in manufacturing rigid,
flexible, and industrial packaging materials owing to its ability to offer
protection to products against physical, chemical and microbiological
degradable. Automotive is another major market for masterbatch. The ability of
masterbatch to enable creation of lightweight plastic components is ensuring
significant improvements in fuel efficiency levels, thus aiding demand
masterbatch in automobile manufacturing operations.
As stated by the new
market research report on Masterbatch,
Europe represents the largest regional market, worldwide. While rising demand
for flexible packaging solutions and growing popularity of smaller packs are enhancing
masterbatch consumption in packaging sector, the increased use of plastics to
manufacture lightweight vehicles is propelling masterbatch demand in automotive
sector. Asia-Pacific is forecast to register the fastest CAGR of 6% over the
analysis period, with growth driven by the sustained increase in consumption
and production of plastics in the region. Increasing demand for attractive and
innovative food packaging products and growing investments in construction
projects are also driving demand for plastic products, thus aiding growth of
masterbatch market in Asia-Pacific.
Major players in the market
include A. Schulman Inc., Americhem Inc., Ampacet Corporation, BASF SE, Cabot
Corporation, Clariant International Ltd, Colortech Inc., Dainichiseika Color
& Chemicals Mfg. Co. Ltd, DIC Corporation, Dow Corning Corporation,
GABRIEL-CHEMIE Gesellschaft m.b.H., Hubron (International) Ltd, Ingenia
Polymers Corporation, PolyOne Corporation, Plastika Kritis S.A., Polyplast
Muller Group, RTP Company, and Teknor Apex Company, among others.
The research report titled
“Masterbatch: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides
a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The report provides market estimates and
projections, in both volume and value terms, for all major geographic markets
such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain,
Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, Taiwan,
Thailand and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of
Latin America) and Rest of World. In value terms, the global and regional
masterbatch markets are analyzed by the following End-Use Sectors – Automotive,
Packaging, Construction and Others. In volume terms, the global market is additionally
analyzed by Product Type - White Masterbatch, Black Masterbatch, Additive
Masterbatch and Color Masterbatch.
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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