Increasing focus on the use of plastic in the automotive industry to drive the Masterbatch market in the forecast period, 2023-2027.
According to TechSci Research report, “Masterbatch Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global masterbatch market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The growing commercial and residential projects in developing economies, increase in the demand for personal vehicles and rising awareness among the consumers about attractive interiors are the primary factors driving the demand for the global masterbatch market. The rise in application of masterbatches for automotive application, growing demand for bio-based plastic products, and increasing packaging demand from the food and beverage packaging industry, are expected to influence the market demand. Also, the high adoption of acquisitions, mergers and collaborations are surging the growth of the masterbatch market, globally.
However, the availability of low quality and cheaper products, fluctuations in raw material prices, and complexities involved in color masterbatches may hamper the growth of the global Masterbatch market.
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The global masterbatch market is segmented into type, polymer, application, end user industry, and company.
Based on type, the market is divided into white, black, additive, color, and others. The color segment is expected to hold the largest market share. This is attributed to its usage for coloring thermoplastics.
Based on polymer, the market is divided into PP, LDPE/LLDPE, HDPE, PVC, PET, and others. The PP segment is expected to hold the largest market share. This is attributed to the benefits associated it such as it has lower density, greater softening point, and has wide number of applications.
Based on application, the market is divided into film extrusion, injection molding, blow molding, rotomolding, and others. The injection molding segment is anticipated to grow during the forecast period.
Based on end user industry, the market is divided into packaging, building & construction, consumer goods, automotive, textile, and others. The packaging segment is anticipated to grow during the forecast period. This is attributed to the massive use of plastic for packaging in food industry and pharmaceutical industries.
Major companies operating in global masterbatch market are:
- Clariant AG
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.
- Plastiblends India Ltd.
- Penn Color, Inc.
- LyondellBasell Industries N.V.
- Hubron (International) Limited
- Tosaf Compounds Ltd.
- A. Schulman, Inc.
- Global Colors Group
- Ingenia Polymers Corporation
- RTP Company, Inc.
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“Asia-Pacific dominates the market in 2021 and is expected to maintain its dominance in the coming years due to the presence of several end-use industries such as automotive and transportation, packaging, consumer goods, and building and construction. The rising population, rise in demand for plastic goods, growing building and construction sector, and improving living standards in the region are another key factor. Also, supportive government initiatives, vigorous growth in the regional e-retail industries, and rapid industrialization are expected to propel the global masterbatch market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Masterbatch Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Type (White, Black, Additive, Color, Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application (Film Extrusion, Injection Molding, Blow Molding, Rotomolding, Others), By End User Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Textile, Others), By company and By Region”, has evaluated the future growth potential of global masterbatch market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global masterbatch market.
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