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Masterbatch Market Size is set to be worth over $14.89 billion by 2028

  • Published Date: February 21, 2022

According to a new research report by Global Market Insights Inc., the Masterbatch Market size is projected to exceed USD 14.89 billion by 2027.
 

Masterbatch is primarily used in polymers owing to its color-enhancing features & properties. Increasing consumption of polymer materials in applications, such as automotive, consumer goods, and agriculture, is propelling the overall global demand for masterbatch products. Excellent properties and rising product innovations will accelerate the market demand in several end-user industries.
 

Polymers manufactured from petrochemical products are non-biodegradable; thus, to address this inability, bio-based masterbatches are produced. Plastics have widespread applications in food, clothing, transportation, health, and packaging owing to their lightness, non-corrosive properties, and high durability. Stringent environmental norms implemented around the globe will drive the market for biodegradable masterbatches in the food, agricultural, and healthcare sectors. Biodegradable masterbatches aid plastic materials to degrade after completing their shelf-life. Bio-degradable masterbatches are cost-effective.
 

Masterbatch and plastic composite companies in the APAC region are witnessing high demand from the automotive sector due to shifting consumer sentiments and technological progressions, thereby favoring the masterbatch market growth. Furthermore, optimistic government policies and stable legislative frameworks for the automotive industry are positively impacting the domestic market and influencing the regional consumer purchasing power.
 

The selection of polymer resins is dependent on the type of applications. Resin carriers should be compatible with the polymers with which masterbatches are mixed to impart color in them, ensuring that it should not alter any properties of the plastic with which it is mixed. Changing market dynamics in terms of the supply & demand ratio may affect raw material prices, thereby negatively influencing the masterbatch market sales. Raw material supply is not in-line with increasing masterbatch production. Hence, as the demand is more and supply is less, prices will increase and affect the overall market growth.
 

Browse key industry insights spread across 181 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, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/masterbatch-market

 

Rising masterbatch implementations in consumer goods applications

The consumer goods segment is expected to grow at a CAGR of approximately 5.6% during the forecast period. Consumer goods include electrical & electronics appliances such as mobile phones, tablets, computers, and television sets; personal care products such as shampoo bottles, toothbrushes, and razors; and other home appliances such as coolers, refrigerators, and power tools. Masterbatches are popularly used in imparting the required aesthetic & performance characteristics to these end products. Changing living standards and increasing disposable incomes coupled with fast advancements in the electronics industry will positively influence the masterbatch market revenue from the consumer goods segment.
 

Increasing demand for additives in masterbatches

The additive masterbatch segment is projected to grow at a CAGR of 5.1% through 2027. Additive masterbatches are used in introducing specific performance characteristics in plastic components. Additive masterbatches include flame retardants, heat stabilizers, antioxidants, anti-microbial solutions, stiffening agents, optical brighteners, corrosion inhibitors, anti-foggers, and various other options. These materials help to enhance the quality, strength, look, and feel of end products in different end-use sectors. They are often used along with black, white, and/or color masterbatches in order to impart enhanced physical characteristics along with the desired colors. They can also be used in making packaging boxes for the food sector to increase the shelf life of perishable items.
 

Europe is set to exhibit steady growth during the forecast period

In 2021, the Europe masterbatch market held the market share of around 21.3% and is projected to grow at a CAGR of 4.5% through 2027. Strict environment regulations related to plastic manufacturing in the region will also play a vital role in market performance over the next few years. Germany led the regional masterbatch demand, driven by the country’s plastic production facilities. The regional automotive and packaging industries are focused on high R&D and new product developments to fulfill the demand of the economically superior population.
 

Some of the top players in the masterbatch industry include Clariant, Hubron International, Ampacet, Tosaf Group, PolyOne, A. Schulman, Inc., Cabot, and Plastiblends.
 

Authors: Kiran Pulidindi, Akshay Prakash