Rise in Demand for Plastic Products Expected to Drive Global Masterbatch Market over the Forecast Period: Ken Research
Masterbatche is a mixture of pigments, polymer, colors, and additive materials. It is available in solid & liquid forms. It is utilized to give shading and strengthen the color & properties of plastic for applications in numerous industries. It is encapsulated into carrier resin throughout the heating process and then cooled to cut into granules. The key properties are extrusion aids, antimicrobial, anti-oxidant, anti-slip, anti-static, anti-fouling, lubrication, flame retardance, abrasion resistance, oxygen scavenger, ultraviolet light resistance, and thermo-stabilizer.
According to study, “Global Masterbatch Market: Information by Type (Color, White, Black, Additive), Application (Packaging, Consumer Products, Building & Construction, Automobile Industry, Electrical & Electronics), & Region (Asia Pacific, North America) – Forecast till 2023” the key companies operating in the global masterbatch market are Cabot Corporation, Clariant, PolyOne, A. Schulman, Inc., Plastika Kritis S.A., AMERICHEM, Astra Polymers, Ampacet Corporation, Alok Masterbatches Pvt. Ltd., GABRIEL-CHEMIE Group, Hubron International, Prayag Polytech, Plastiblends, POLYPLAST, DongGuan HengCai Plastic Pigment Ltd., GCR Group, Tosaf, RTP Company.
Based on type, masterbatch market is segmented into additive masterbatch, black masterbatch, white masterbatch, filler masterbatch and color masterbatch. Additive masterbatch is further sub-segmented into antioxidant additive (primary, secondary and primary & secondary), antimicrobial additive, UV stabilizer, optical brightener, flame retardant, nucleating agent and foaming agent or blowing agent. Color masterbatch is also further sub-segmented into specialty color (fluorescent, metallic, phosphorescent, metallic), standard color and tailor-made colors. Black masterbatches dominate the market due to its extensive application in automotive and electronics industry. Based on polymer, market is segmented into low-density polyethylene & linear low-density polyethylene, polypropylene, polyvinyl chloride, high-density polyethylene polyethylene terephthalate, polyurethane, polystyrene and others (polycarbonate, polyamide, acrylonitrile butadiene styrene). The polymers help in improving acceptance & dispersion of extensive range of plastic additives & functional fillers. In addition, based on application, market is segmented into consumer goods (electronics, footwear and furniture), automotive (exterior & interior), packaging (rigid & flexible), textile, building & construction (pipes & fittings, fences & fenestrations, doors & windows, siding), agriculture and others (household appliances, furniture, sports & leisure and vegetables).
The masterbatch industry is driven by increase in demand from automotive industry, followed by rise in demand for personal vehicles, rise in urbanization, improvement in disposable income, widely preferred coloring method, supportive government regulations & policies, growth in consumer preference for sophisticated color formulations, rise in demand for plastic products and replacement of metals with plastics in automotive applications. However, limited supply of raw material, rise in price of raw materials such as titanium oxide, pigments, and black carbon, high cost of product, and stringent government regulation for its application in food products may impact the market. Moreover, growth in emerging nations and rise in awareness about usage of environment friendly products are key opportunities for market.
Based on geography, the Asian-Pacific region holds major share in masterbatch market owing to favorable regulatory policies towards automotive industries and rapid growth in packaging industry in the region. The European and North-American regions are expected to witness lucrative growth due to fast-paced industrialization, growth in number of exports and rise in consumption of consumer goods and building & construction activities over the forecast period.
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Ankur Gupta, Head Marketing & Communications