Rising demand from end-user such as packaging, building & construction, consumer goods, automotive & transportation, and agriculture are propelling demand for the Vietnam Filler Masterbatch market in the forecast period 2024-2028. According to the TechSci Research report, “Vietnam Filler Masterbatch Market – By Region, Competition Forecast and Opportunities, 2018-2028F”, The Vietnam Filler Masterbatch market is anticipated to increase at an impressive rate in the forecast period 2024-2028. Filler Masterbatch is employed to impart color and strengthen the properties of plastic.
The Important Elements of the Vietnam Filler Masterbatch Market
Masterbatch helps plastics improve physical properties such as toughness, flexural stiffness, adhesion, printability, etc. Specifically, a masterbatch is a less Volatile Organic Compound (VOC) alternative to dye or another colorant to enhance the essential properties of plastic or recycling commodities. Firms use different filler masterbatches in the polymer product to provide additional characteristics like tensile strength, toughness, heat resistance, color, and clarity while producing and manufacturing desired products. For instance, PE filler masterbatch is a more demanded masterbatch in the packaging industry.
The perfectly optimizing flow properties allowing easy processing have significantly increased the use of filler masterbatches across various end-user industries such as consumer goods, packaging, automotive, construction, and agriculture, among others. This in turn is expected to drive the growth of the Vietnam filler masterbatch market through 2028. Filler masterbatches help in improving the processing of plastic products. It also helps in modifying the properties of plastic products while optimizing the overall costs.
Besides, the increasing environmental concerns regarding pollution and fossil fuel conservation have brought a shift towards electric vehicles. This has in turn made the major automotive manufacturers shift towards electric vehicle manufacturing, thereby creating new prospects for the growth of the filler masterbatch market across Vietnam in the coming years.
The availability of cheaper substitutes and stringent environmental regulations over VOC is a primary restraints on market growth. e. Fluctuation in demand for dyes or paints and substitutes of plastic will directly impact the market’s growth. The filler masterbatch is made after undergoing various processing from crude oil. Hence, fluctuation in the crude oil price and supply chain disturbance is expected to hinder the demand. In addition, the proper temperature must be maintained while storing the filler masterbatch and keeping them active during operation. All the mentioned factors restrain the demand for the filler masterbatch market in Vietnam.
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The Vietnam Filler Masterbatch market is segmented based on carrier polymer, application, end user, and region.
Based on application, the market is divided into injection & blow molding, films & sheets, and tapes. The injection & blow molding segment is expected to hold the largest market share in the projected year. Owing to the rising demand and production of different products like toilet lids, buckets, baskets, toothbrushes, plastic toys, rice cooker lids, and other applications, injection & blow molding can produce products using filler masterbatch effectively without more wastage and increase product printability.
Based on end users, the market is divided into packaging, building & construction, consumer goods, automotive & transportation, agriculture, and others. The packaging segment is expected to hold the largest market share in the projected year. This can be attributed to the growing demand for packaging from various end-user industries including building & construction, consumer goods, automotive & transportation, and agriculture, among others, thereby propelling segmental growth.
Major companies operating in the Vietnam filler masterbatch market are:
- Europlast S.A.
- Megaplast, S.A. De C.V.
- AN TIEN INDUSTRIES
- VinaColour
- Polyfill LLC
- VINARES Vietnam Company Limited
- Ecoplast Ltd.
- TLD Vietnam
Firms around the world are showing interest in investing and acquiring local firms in Vietnam. For instance, MeiwaPax Group, a Japanese firm, spent US$16.5 million to acquire the Saigon Trading and Packaging Joint Stock Company in Vietnam to expand its customer base. Another firm, Thailand’s Siam Cement Group, has now become the major investor by acquiring 51.1 percent shares of the Binh Minh Plastics Company, which is a leading firm in Vietnam’s plastics industry.
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“Various Government initiatives for developing the construction sector, policies such as Law on Housing 2014, Decision 687, the national action plan focusing on 3R or circular sustainable development, and FDI are factors that propel the market growth. Apart from this growing demand from different end-user, such as automotive for manufacturing various parts like bumpers, dashboards, side trims, locks, car batteries, headlamps, and wire, among others. Additionally, in the consumer goods industry, filler masterbatch is used for making packing material for food, beverages, apparel, and electronics influencing market growth. All the above-mentioned factors are projected to impact Vietnam’s filler masterbatch market growth until 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vietnam Filler Masterbatch Market By Carrier Polymer (Polyethylene and Polypropylene), By Application (Injection & Blow Molding, Films & Sheets, Tapes), By End User (Packaging, Building & Construction, Consumer Goods, Automotive & Transportation, Agriculture, and Others), By Region, Competition Forecast and Opportunities, 2028F” has evaluated the future growth potential of Vietnam filler 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 the Vietnam filler masterbatch market.
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