Global Masterbatch Market Size to exceed $15bn by 2026
Published Date: December 16, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Masterbatch Market size is likely to exceed USD 15 billion by 2026; according to a new research report by Global Market Insights, Inc.
Masterbatch is an additive available in solid as well as liquid forms, used to impart various properties to plastics. It contains different types of carrier resins, dispersants and chemical accessory ingredients. It is widely used in plastic production process to give plastics desired form of color or other properties. Additionally, it is also useful in reducing failure rates and offer clean manufacturing with quick set-up time.
Developments in the plastic packaging materials sector to play a crucial role
Plastic based packaging materials such as bottles, cans, jars, boxes, wraps & films, etc. are popularly used for transportation of various items ranging from chemicals & pharmaceuticals to foods & beverages. Demand for colorful packaging materials in order to attract customers will have a positive influence on the masterbatch market growth. Global plastic packaging materials market was estimated at more than USD 250 billion in 2018, and will witness growth with a CAGR of more than 5.5% from 2019 to 2026. Use of different masterbatches to impart color as well as other properties such as UV stability, heat stability, barrier properties, etc. will have a positive influence on the industry growth.
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Based on type, the masterbatch market is segmented into black, color, white, and additives. Color masterbatch will capture nearly 15% of volume share by 2026. It is used for different types of packaging products, electronic goods and automotive parts. Additive segment will grow with a CAGR more than 4.5% during the forecast time span. It adds value to the final product by offering required characteristics such as oxygen and moisture barriers, antioxidation properties, antistatic properties, light stability, optical brightness, etc.
Browse key industry insights spread across 250 pages with 153 market data tables & 25 figures & charts from the report, “Masterbatch Market Size By Type (Black, White, Color, Additive), By End-user (Automotive, Consumer Goods, Packaging, Agriculture, Construction), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
The market is divided into consumer goods, packaging, construction, automotive, agriculture and other minor segments including furniture, sports & leisure, aerospace, etc. on the basis of end-user. Construction sector will generate revenue worth around USD 1.5 billion by the end of 2026. Increasing usages of plastics in different construction applications such as valves, pipes, expanded & extruded polystyrene foams, window & door frames, etc. coupled with rising construction activities all over the world will catapult the product demand in upcoming years.
Europe will be one of the key regional market in upcoming years
Europe will clutch a considerable market share in masterbatch market in upcoming years, generating over USD 3 billion in 2026, owing to high demand from automotive and packaging industries. The stringent government regulations associated with plastic manufacturing and automotive production may impact regional market growth in future. The European Parliament and the Council specified regulations to reduce the CO2 emissions levels of passenger cars and light commercial vehicles. These regulations include specific targets for automotive manufacturers and penalty amounts for failing to comply with these regulations. Such trends will propel the product demand among European automotive part manufacturers over the next few years.
Strategic partnerships, collaborations and mergers & acquisitions for increasing profitability
The key manufacturers in the masterbatch market are Clariant, RTP Company, Penn Color, Inc., A. Schulman, Inc., Tosaf Group, PolyOne, Ampacet Corporation, etc. These companies are increasing production capacity, diversifying product portfolio and acquiring other players in the market to gain strong foothold in the market. For instance, in October 2016, Clariant expanded production capacity of color additive masterbatches and compounds with installation of new line at plants located in Ahrensburng, Germany and Lewiston, U.S. which will help them to serve a larger customer base.
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