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
Published Date: January 2018 | 200 Pages | Report ID: GMI2362 Report Format: PDF
Masterbatch Market size was over USD 9 billion in 2016 and will grow at a CAGR over 5.4% over the projected period.
U.S. Masterbatch market size, by end-user, 2013 - 2024 (USD Million)
Robust demand in automotive industry majorly from Asia Pacific and Europe is significantly impacting the masterbatch market size over the forecast period. Replacement of conventional metal auto part with plastic components is driving the market for masterbatch products in polymers industry. Growing application of plastics in automotive industry is attributed by its light weight and durable properties. In addition to this, government initiatives and polices are positively influencing the automobile production in the region. Moreover, China is highly investing on the development of electric vehicle made up of plastic auto parts, for maintaining light weight and enhancing speed, this innovation will drive the market over the forecast period.
Increasing research & development activities for developing advance quality bio-degradable masterbatch, to manufacture plastic material used in agricultural films. Agricultural films are majorly used by farmers for protecting crops from various weathering condition as well as maintaining soil moisture. These agricultural films are eco-friendly, increasing population and growing need for better crop productivity is augmenting the demand for bio-degradable masterbatch in agricultural industry. Furthermore, agricultural activities are increasing in Asia-Pacific, Europe etc. regions which is likely to positively affect masterbatch market is forecast timeframe.
Plastics have widespread application in consumer good industry, for instance food holding container, home appliance, electronics etc. which in turn augments usage of masterbatch. In addition, shift in consumer preferences toward packaged food products is favoring the market. Innovative bio-degradable masterbatch is driving the application for environment friendly polymers in food and medical packaging and in other industries as well.
The market is hindered by rise in masterbatch product prices. High demand from suppliers and rise in raw material prices had influence product prices which will negatively impact the market demand. Moreover, stringent government regulation controlling masterbatch color & additive application in food products are restraining the market. Government authorities of several countries have permitted the use of only few signified pigments in packaging industry which is decelerating market growth over the forecast timeframe.
Masterbatch Market, By Product
Black masterbatch products are dominating the market owing to its increasing application of these products in automotive parts which is likely to grow at higher CAGR over the forecast timeframe. Color masterbatch products is growing at a significant rate and is likely to grow over the years owing to high volume consumption in consumer goods industry.
The demand for black and color masterbatch will substantially grow in Asia Pacific and Europe owing to high dominance of automotive industry. Furthermore, white masterbatch products applications in consumer goods industry is increasing which will enhance market growth over the coming years.
Masterbatch Market, By End-user
In 2016, masterbatch market for automotive industry has potential market share followed by consumer goods, agriculture and packaging industries. Increasing product demand for manufacturing polymer auto parts has enhanced the masterbatch applications in the automotive industry. In addition to this, increasing demand for light weight and aesthetical features in vehicles will augment the demand for plastics which in turn will positively affect masterbatch market over the projected period.
Constant research and development activities for developing advance technology had enhanced the application of polymers alternate to conventional metal parts. For instance, most of the vehicles tanks made of metal componets are replaced by plastic componenst,as these components provide high strength and better durability. Also, plastic auto components had modified vehicle designed and aesthetical look which will help in achieving significant gains in masterbatch market size for automotive industry over the coming years.
Masterbatch market size for automotive will grow at a CAGR of 5.8% during the timeframe. The products are significantly used as agricultural films as a protection against rough weathering condition.
Masterbatch Market, By Region
Asia Pacific masterbatch market size is determined to venture high market share by end of 2024. This is largely due to increasing masterbatch demand across several end-user industries which includes agricultural, packaging, automotive and consumer goods. China majorly dominates the market with a CAGR of 6.2% owing to high investment plan on electric vehicle and government initiative to develop automotive industry.
Europe masterbatch market is expected to grow with CAGR of 5.6% in forecast timeframe. This is postively attributed by consistent growth in automotive industry in this region. Moreover, high growth in automobile production in Germany, France etc. is boosting the overall demand for masterbatch in region in projected timeframe.
Competitive Market Share
Prominent masterbatch market players are Clariant, BASF, The Dow Chemical Company, Cabot Corporation, RTP Company, Ampacet Corporation, Tosaf Group, A. Schulman, Inc., Hubron International, Penn Color, Inc., Plastiblends, DIC Corporation, AMERICHEM, Chevron Phillips Chemical Company and PolyOne Ltd. Other key market player is CRISTAL, ECKART, Shepherd Color, LANXESS, Galloplast, Astra Polymers and High Technology Masterbatch SL.
Key masterbatch market share contributors are involved in expansion of their production capacities to meet the demand from end-user industries. For instance, Clariant, A. Schulman, Inc and Hubron International. Other than these few of the market players such as PolyOne, RTP company and Tosaf Group are acquiring other masterbatch companies to enhance their global footprints and product portfolio.
The masterbatch products offer color to polymers, it is manufactured by various pigments and dyes. These are processed with polymers or resin to add color which is then used for several applications. These masterbatch products are produced in high quantity, further masterbatch manufacturers are basically polymers companies, involved in the manufacturing process of plastic compounds.
The key companies of this market are estimated to have a remarkable market share during the next few years. Market integration is high, most of the companies have both backward and forward integration which is helps them to serve large customer base.
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