Masterbatch Market - By Type (Black, White, Color, Additive), By End-user (Automotive, Consumer Goods, Packaging, Agriculture, Construction), By Region & Global Forecast, 2023 – 2032

Industry Statistics

Masterbatch Market size was worth more than USD 10.5 billion in 2022 and is expected to exhibit 5.5% CAGR from 2023-2032. Increasing use of plastic in the automotive sector is expected to complement the industry expansion.
 

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A surge in plastic usage will complement the masterbatch industry trends. Biodegradable masterbatches are gaining momentum across municipal and waste regulations as a promising tool for plastic degradation. They can be used in a wide range of plastic products such as shopping bags, disposable plastic cutlery, garbage bags, tunnel films, and mulch films. Masterbatch offers manufacturers a myriad of advantages including better color consistency with bulk orders, polymer-compatible binding agents, and high accuracy and control over transparency and opacity of end products. Moreover, unlike raw pigments, masterbatch does not tend to become airborne during processing and resulting in contamination of neighboring manufacturing lines. This scenario indicates lucrative scope for masterbatch manufacturers.
 

Higher production costs to hinder market demand

Rising cost of masterbatch products could restrain industry growth. Both masterbatch production and manufacturing of products using masterbatches is an expensive processes. The production of high-quality color pigment masterbatches results in higher prices of end-products, hampering the adoption of these pigments. Pigments are very expensive and therefore do not support bulk usage, compelling manufacturers to use them sparingly to retain a promising cost-in-use. Additionally, the processing requires intervention in order to achieve a uniform distribution of the pigment and offer an unblemished tint to final products.
 

Surge in CO₂ emission reduction initiatives to foster demand for recycled black masterbatches

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In terms of revenue share, masterbatch market from black masterbatch segment is estimated to surpass USD 6.5 billion by 2032. Black masterbatches are considered to be the most popular products used in plastic products owing to their resistance to high temperature, electrical conductivity, and heat dissipation. They also ensure uniform distribution with high jetness along with ultraviolet light stability, which makes them an ideal component in construction materials such as cables and pipes, automotive parts, and packaging boxes. An increasing focus on carbon emission reduction has also led to the development of black masterbatches with 100% recycled carbon black.
 

Trending smart home appliances to boost consumer goods applications of masterbatches

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Masterbatch market share from consumer goods applications is projected to record a 5.5% CAGR through 2032. Consumer goods applications of masterbatches encompass a broad spectrum of commodities including electronics such as tablets, computers, and mobile phones. Masterbatch is also used in a wide variety of personal care products and home appliances, such as shampoo bottles, toothbrushes, refrigerators, and coolers. The primary function of masterbatches is to induce desired aesthetic value along with performance characteristics. Rising disposable income, higher living standards, and technology trends, including s smart home appliances will propel the demand for masterbatches across consumer goods applications.|
 

Increasing plastic production to augment APAC masterbatch industry

Asia Pacific masterbatch market size was valued at more than USD 5.4 billion in 2022. Massive plastic production and the presence of large plastic manufacturers in the developing economies of APAC are expected to expedite industry expansion across the region. For instance, China is the largest plastic producer in the world accounting for nearly 31% of the global production. Due to robust production output, China also contributes significantly to plastic waste.
 

Expansion strategies to boost masterbatch industry outlook

Some of the leading companies in the global masterbatch industry include Clariant AG, Cabot Corporation, PolyOne, RTP Company, Ampacet Corporation, Plastika Kritis S.A., Tosaf Group, A. Schulman, Inc. (LyondellBasell), Hubron International, Penn Color, Inc., and Plastiblends. These companies are focusing on the advancement and expansion of production capabilities.
 

Impact of COVID-19 pandemic on masterbatch market trends

The COVID-19 pandemic negatively affected the masterbatch industry due to continuous lockdown restrictions and a disrupted global supply chain. The pandemic brought industrial and manufacturing activities across the globe to a standstill, showcasing unprecedented challenges for various developing economies. Furthermore, pandemic-driven inflation and a drop in global trade led to a shortage in raw materials, reducing masterbatch production dramatically. The ongoing pandemic-related restrictions in China are driving economic concerns pertaining to new bottlenecks in the supply chain. However, growing awareness regarding the importance of health and hygiene will help accelerate post-pandemic recovery.
 

The masterbatch market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilotons and revenue in USD million from 2018 to 2032 for the following segments:

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By Type

• Black
• White
• Color
• Additive

By End-user

• Automotive
• Consumer goods
• Packaging
• Agriculture
• Construction
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE