According to the growth analysis report masterbatch market will be growing with a CAGR of around 5.4% in projected timeframe. Increasing application of plastic over metal in automobile industry will augment market growth. Several government investment initiatives and supporting policy outlined for automotive producers in Asia Pacific will enhance market growth during forecast period. Further positive shift in buyer preferences towards better living standards coupled with growing consumer purchasing power in the region will gain significant returns for automotive industry. Thus, global masterbatch market will be positively driven by automotive industry, indorsing growth for various masterbatch products over coming years.
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Increasing agriculture cultivation land owing to rise in population will boost the market demand for agriculture films. It is manufactured with polymers comprising biobased masterbatch that helps to decompose polymers naturally. The growing trend for environment friendly products among consumers and industrial players is accelerating bio-degradable masterbatch market. Moreover, excellent protecting and moisture shielding features of agriculture film is favoring the market growth.
The demand for masterbatch product is restrained by growing masterbatch products prices. Variation in market dynamics coupled with rise in raw material prices is inflating the price of masterbatch products. Hence rise in market prices will undesirably impact the industry over the forecast timeframe. Further, strict government regulation implemented to protect human health and environmental pollution worldwide, limits the usage of specific pigments in masterbatch product due to harmful health hazard which will negatively impact market demand over the forecast period.
Browse key industry insights spread across 200 pages with 293 market data tables & 23 figures & charts from the report, “Masterbatch Market Size By Product (Black, White, Color, Additive), By End-user (Automotive, Consumer Goods, Packaging, Agriculture, Construction), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Indonesia, South Korea, Brazil, Mexico, South Arabia, South Africa, UAE), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Increasing application of black masterbatch products in automobile sector is gaining substantial market revenue over forecast spell. In addition, color masterbatch is also growing with increasing application in consumer good and textile, hence this factor will grow the market over forecast period. White masterbatch market will go moderately owing to rising application in food packaging and medical device that is positively impacting the market in coming years.
Automotive industry is likely to witness high demand from Asia Pacific. Further government high investment in this sector, will augment polymers market in projected timeframe. Agriculture segment is significantly contributing toward market growth at CAGR of over 6.0%, market is substantially driven by increasing cultivation activities and rapidly growing population.
China is having highest growth in terms of CAGR, projecting higher revenue turnover in masterbatch market over the forecast spell. Automotive, packaging and consumer goods are among growing industries. Japan, China and India are spending immense amount of capital on economic development which is impacting market growth. Followed by Asia Pacific, Europe has second highest market share, growing at CAGR of over 5.6%, due to high demand from automobile industry which will enhance market growth in coming years.
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Masterbatch market has several number of local and global masterbatch producer and distributors functioning across the globe. The prominent market leaders are RTP, BASF, Clariant, Cabot Corporation, PolyOne, Tosaf Group., Plastika Kritis and Ampacet. Few of the companies of this industry follow market integration to enhance their product portfolio and supply chain.
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