Global Masterbatch Market – Summary
Masterbatch Market is expected to register a CAGR of 6.52% to reach around USD 13,839.3 million by the end of 2025, Global Masterbatch Market Research Report: By Type, Application and Region
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Plastics, nowadays, have become an integral part of the global economy due to its far-flung impact. It is difficult to find a single nook or corner which it is yet to penetrate. However, its utility is not the only reason behind it gaining accolades from myriad industries. Its adaptability to different needs gives it the traction, and it only gets better with masterbatch playing the catalyst. The array of colors in which plastics come and percolate different strata is the outcome of masterbatch implementation. A mass-produced product, masterbatch adds colors to otherwise color-neutral plastic, works as additives, reduces health risk, minimizes waste amount, most importantly, it comes in handy in reducing production cost. This can fuel the demand for masterbatches during the forecast period (2018-2023).
The burgeoning automotive industry is experiencing a paradigm shift. Gradual rejection of the traditional components such as aluminum, steel and other metal alloys to gain better fuel efficiency is a trend that industries worldwide are adopting at breakneck speeds. They found a better alternative to engineered plastics. Durable and lightweight, these components have picked the interest of the market players in no time and is subsequently generating a demand for the masterbatch.
The meteoric rise in urbanization and industrialization has transformed lifestyle in an unprecedented way. As its one of the many consequences, the packaging industry is also experiencing a boom that is currently valued at in between USD 400-500 billion. Global production, along with consumption, has also increased substantially which has a continual accelerating effect on the growth of the market.
However, the process of blending highly concentrated color pigment into a resin carrier is cumbersome which requires an internal mixer or a mill. This complexity can slacken the rate of adoption of this technology by various industry.
Segmentation:
Type-based, the market segmentation includes color, white, black, and additive. The outstanding ability to disperse color equally on the final plastic product in contrast to that of the powdered form pure colorants made the color type the most popular among the manufacturers. The market is expected to remain so in the foreseeable future with the sub-segment growing at the fastest rate.
Application-wise, the market comprises packaging, consumer products, building & construction, automobile industry, electrical & electronics, and others. The packaging segment is currently steering the market ahead owing to the exigent demand generated by innumerable industries. It is currently estimated to scale to a market valuation of USD 4,631.06 million by 2023. However, the automotive industry is not staying idle and gaining enough momentum to surpass the rest in terms of CAGR in coming years.
Competitive Analysis:
The market is buzzing with innovations and improvements in production techniques. For instance, Cabot is vying for a strong European presence with its black masterbatch production unit in Pepinster, Belgium seeing the green light.
Clariant, on the other hand, is eyeing for a firm grasp over the MEA market with their production site in Yanbu, Saudi Arabia. Mergers and acquisitions are also playing an integral part in making the market a competitive one. PolyOne acquiring IQAP Masterbatch Group S.L. of Spain can be taken as exemplary. Tosaf USA Inc. in North Carolina has started their masterbatch venture in 2018 which indicates that the market is open to new entrants.
The major players contributing to the market are Clariant, PolyOne, Plastika Kritis S.A., A. Schulman, Inc., Plastiblends, POLYPLAST, GABRIEL-CHEMIE Group, Ampacet Corporation, Americhem, Inc., Astra Polymers, ALOK, Hubron International, Prayag Polytech, Cabot Corporation, DongGuan HengCai Plastic Pigment Ltd., GCR Group, Tosaf, RTP, and others.
Regional Segmentation:
Regional analysis of the masterbatch market includes five key regions namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and Middle East & Africa (MEA).
The APAC is currently leading the market due to the rising consumer awareness and favorable government policies that are assisting manufacturers in increasing the production. India, China, Malaysia, and South Korea are the biggest contributors in this region. By 2023, the market valuation can go up to USD 4,782.10 million. The region is closely followed by North America, with the U.S. setting the regional trends. The country has a propulsive infrastructure that makes it an industrial powerhouse. Diverse sectors such as automotive, packaging, and building & construction are making significant innovative contributions to assist the global markets to grow by leaps and bounds. As a consequence, the masterbatch market is also skyrocketing. Europe has Germany, France, Italy, Russia, and the U.K., to give the market a robust cornerstone to lay the bricks for the industry in the coming years. However, the same kind of cascading effect cannot be expected from the LATAM and the MEA region. The growth will be much slower but a steadier one in these regions.
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