Increasing demand for packaging material and growing demand from the automobile sector are factors that drive the demand for the Masterbatch market in the forecast period, 2024-2028. According to TechSci Research report, “Vietnam Masterbatch Market – By Region, Competition Forecast and Opportunities, 2018-2028″, The Vietnam Masterbatch Market is anticipated to increase at an impressive rate in the forecast period, 2024-2028.
The Important Factors of the Vietnam Masterbatch Market
Precisely, a masterbatch is a solution to dye or other essential properties of plastic or recycling commodities. It is used in the blending of additives and pigment to combine into a carrier resin. Due to its different properties, it is used to retain the losing characteristics of recycled plastic and enhance the color of the resin to get the desired color. The need for proper storage places and not proper blending in a screw while injecting molding are factors restraining the Masterbatch market.
Apart from this growing demand from different end-user, such as automotive for manufacturing of various parts like bumpers, dashboards, side trims, locks, car batteries, headlamps, and wire, and in consumer goods, it is used for making packing material of food, beverages, apparels, electronics are propelling the Masterbatch market. Moreover, increased per capita income, rising construction activities, and technological development are the major factors responsible for market growth. Thus, the abovementioned factors will drive market development and directly impact Vietnam’s masterbatch market growth.
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Vietnam masterbatch market is segmented based on type, polymer, application, and end-user industry.
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 in the projected year. Owing to the growing demand from automotive, electronic appliances, and flexible packaging solutions for the food, beverages, and medicines sector for aesthetic appearance. It provides vast color options from common to specialty colors such as fluorescent, pearlescent, metallic, and glow-in-the-dark. Thus, the color segment holds the largest market share and is expected to grow with the highest market share in the forecasted period.
Based on application, the market is divided into film extrusion, injection molding, blow molding, roto molding, and others. As per estimates, the injection molding segment is going to experience the highest market share during the forecast period. The large size of the application, which is demanded by end-user, is made from the injection molding technique, which led to the increase in the demand for injection molding applications.
Based on end-user industries, the market is divided into packaging, building & construction, consumer goods, automotive, textile, and others. As per estimates, the automotive segment is going to experience the highest market share during the forecast period. In order to lessen the weight of the vehicle, a different part of the automobile is replaced with plastic material. It helps the manufacturer to improve fuel efficiency and the easiness of molding in different shapes. All these factors led to an increase in the demand from the automotive segment and dominated the market.
Major companies operating in the Vietnam masterbatch market are:
- Masterbatch (Viet Nam) Pty. Ltd
- TLD Vietnam
- Tan Hung Co Manufacturing and Trading Company Limited.
- Vinares Vietnam Joint Stock Company
- Dai A Plastic Industries
- CPI Vietnam Plastic Limited Company
- US Masterbatch JSC
- Sunrise Colours Vietnam Co., Ltd.
- Vietnam Colour Trading And Manufacturing Co., Ltd.
- Vietnam Hanotech Joint Stock Company
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” The primary reason for Vietnam’s Masterbatch market is the growing demand for increasing demand for packaging material and the growing demand from the automobile sector. Government initiatives and policies like Law on Housing 2014, Decision 687, the national action plan focusing on 3R or circular sustainable development, and FDI drive the demand for masterbatch to attain the zero-carbon emission target. Growing textile industries led to an increase in the demand for the masterbatch market. Additionally, growing construction activities for insulation materials, floorings, performance safety windows, storage tanks, pipes, doors, and cables led to the demand for masterbatch in the Vietnam market. All the above factors are projected to impact Vietnam’s masterbatch market growth until 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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“Vietnam Masterbatch Market By Type (White, Black, Additive, Color, Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application (Film Extrusion, Injection Molding, Blow Molding, Roto molding, Others), By End User Industry (Packaging, Building & Construction, Consumer Goods, Automotive, Textile, Others), By Region, Competition, Forecast and Opportunities, 2028 has evaluated the future growth potential of Vietnam 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 masterbatch market.
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