Masterbatch Market Size, Share and Industry Analysis Report by Type (Black, White, Color, Additive) and End-user (Automotive, Consumer Goods, Packaging, Agriculture, Construction), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

Industry Overview

Masterbatch Market size was valued at around USD 10.3 billion in 2021 and will exhibit a growth rate of over 5.5% from 2022 to 2028. This can be credited to the proliferating economic growth and rapid urbanization in emerging countries along with the replacement of metal parts with plastic components. By 2028, market size with respect to volume, will see an installation of 5,425.6 Kilo Tons with an estimated CAGR of 5.4% over the forecast period.
 

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Increasing demand for various household products & appliances owing to a rise in people’s spending propensity will result in the growth of consumer goods sector. Masterbatch products provide colors to polymers and are manufactured by various pigments and dyes. These are processed with polymers or resins to add color and are then used in several applications. These masterbatch products are produced in huge quantities.
 

Technological advancements in the plastic industry have positively influenced the development of masterbatches as well as engineering plastics, thereby modifying vehicle designs and replacing conventional metal parts such as fuel tanks. Automotive manufacturers are using plastic components to reduce production costs and vehicle weight, compelling polymer manufacturers to enhance their production capacities.

Automotive electrical & electronics parts majorly comprise plastic products. Automobile interiors are one of the main considerations for consumers when they buy products, and plastics are majorly used in the interiors of cars and other automobiles. Owing to increasing disposable income, the demand for automobiles has propelled, thereby increasing the demand for engineering plastics used in automobiles.
 

The demand for bio-degradable masterbatches in Europe is characterized by high demand from the medical sector. Rapidly growing polymer applications in various medical implants, packaging, disposable tools, and devices are driving the overall masterbatch market growth. Factors, such as an increasing prevalence of chronic diseases and the rising aging population, are augmenting the demand for medical polymers and other bio-degradable polymer products and positively influencing the market share over the coming years.
 

Increasing masterbatch prices are one of the main concerning factors that will hinder the overall masterbatch market in the coming years. Prices of raw materials, such as titanium oxide and black carbon, are high. Base carriers, such as PE, PP, and PS, are manufactured from crude oil, impacting the raw material prices due to its fluctuating nature.
 

The development of higher value products for better performance & quality has also contributed toward price rise. In addition, the invention of bio-based masterbatches for various applications, high investments on research & development activities, and the implementation of advanced technologies are increasing the masterbatch production costs, leading to high product prices.
 

The use of color masterbatches is rising owing to the growing demand from the end-use industry

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Based on type, color masterbatches are estimated to hold a market share of 17% in terms of value by 2028. Color masterbatches, as the name suggests, are used to impart the desired colors to plastic products. This is primarily used to provide an aesthetic appeal to the final components in the automotive, electronic appliances, and flexible packaging solutions for food, beverages, and medicines.
 

These masterbatches can be blended with others to develop new colors or patterns and make the product stand out in the market. Specialty color options, such as fluorescent, pearlescent, metallic, and glow-in-the-dark, are also available in the masterbatch market for customized effects.
 

The automotive industry is unceasingly dominating masterbatch applications

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The automotive sector generated a revenue of over USD 2.11 billion in 2021 and is slated to exceed USD 3.13 billion by 2028. Continuous developments in this industry to enhance light stability and surface appearance will have a positive influence on the masterbatch market share in the automotive sector.
 

As automotive production is increasing steadily in the developing countries of Asia Pacific and Latin America, this sector will witness a healthy growth rate during the forecast timeframe. This sector is witnessing a revolutionary change as metal parts are being replaced by plastics to reduce vehicle weight and improve fuel efficiency.
 

Asia Pacific will dominate masterbatch consumption by 2028

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The Asia Pacific masterbatch market value is anticipated to exceed USD 7.85 billion in 2028  driven by a high demand from several end-user industries including agricultural, packaging, automotive, and consumer goods. China is estimated to dominate the market with a significant share owing to favorable investment policies and government initiatives. Rising population in conjunction with improving living standards will boost the demand for consumer goods. Rapid industrial growth in the region will have a positive influence on the regional product demand in the coming years.
 

Product development is one of the major strategic outlooks of the overall industry

The masterbatch industry is highly fragmented with the presence of a large number of small to medium-scale companies around the globe. The manufacturers are focusing on developing new technologies and enhancing their service portfolios to cater to the growing demand for masterbatches. Enhancement of the product landscape and strategic partnerships are the key initiatives in the global masterbatch market. Some of the key manufacturers include Clariant, Hubron International, Ampacet, Tosaf Group, PolyOne, A. Schulman, Inc., Cabot, and Plastiblends.
 

The masterbatch market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million kilotons and revenue in USD million from 2022 to 2028 for the following segments:

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