Market Research Future published a Cooked Research Report on MEA Color Masterbatch Market that contains facts about the market’s past trend and growth since 2016 along with its predicted future information till 2027. The MEA Color Masterbatch Market has been growing at the CAGR of ~6.35 % from 2016 and is expected to continue the same till 2027.
MEA Color Masterbatch Market is projected to reach USD 413.2 million by 2027 with 6.35% CAGR during review period of 2016-2027
Africa Region accounted for largest share due to growing application industries in this region
Among Types, Black Masterbatch has acquired the market share of 26% in 2015 with the market value of USD 53.1 million in 2015 growing at a CAGR of 7.31% till forecast period.
Among Applications, packaging industry emerged as the leading application industry in MEA Color Masterbatch Market.
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Although Color Masterbatch have a large number of advantages, the most important is their versatility. The increasing need for plastic and packaging across all modern applications is driving the growth of Color Masterbatch Market. This has also resulted in the development of newer and improved application and performance properties; Color Masterbatch that are fast, easy, and low cost are in demand. Such newly developed Color Masterbatch include fast curing white, black and standard Color Masterbatches.
Market Segmentation Analysis:
MEA Color Masterbatch Market has been segmented into type, carrier resin and application. Among types, the market has been divided into Black Masterbatch, Standard Color Masterbatch, White Masterbatch, Additive Masterbatch and Filler Masterbatch. Black Masterbatches has accounted the largest market in terms of value and volume. This market was valued at USD 55.0 million in 2015 which is projected to reach USD 119.5 million by 2027 with a CAGR of 7.31%. The major reason behind this exponential growth is due to the increasing number of small and medium scale producers and several key manufacturers focus shifting towards MEA market and increasing demand from plastic and consumer goods industries have propelled the demand.
From the application side, the market has been segmented into packaging, automotive, consumer goods & retail, textile agriculture, building & construction and others. Among these applications, packaging is the leading application where Color Masterbatch are consumed most. Color Masterbatch are majorly used in the production of plastic packaging. The major raw materials used in its production are polyethylene and polypropylene. The MEA plastic market has seen a humongous growth across the globe since past few years. As per the analysis, the MEA plastic market is expected to touch USD 90 billion by 2027 and other side, the MEA plastic packaging market is expected to touch USD 45 billion by 2027, which implies that in the coming future there would be a massive growth of plastic from the different industries which would increase the need of plastic from its several application industries and simultaneously, the plastic packaging industry would also grow at a higher growth rate. Other applications such as automotive, consumer goods, textile industry are a major consumer of color masterbatch in MEA.
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