Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "United States Masterbatch Market, By Type (White, Black, Additive, Color, Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application, By End User Industry, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The United States masterbatch market is anticipated to observe impressive growth during the forecast period 2023-2027
The major factors include a growing focus on the automotive industry, an increase in the adoption of e-commerce, and the rapid expansion of these end-user industries are propelling the growth of the market. Masterbatch is a solid or liquid additive used to impart or give color to plastics. It is used for the appearance and to enhance the properties of the plastics.
The other factor which is bolstering the market growth are rising demand for biodegradable masterbatches, increasing investments, rise in population, rising number of research and development activities, rise in urbanization, rising awareness regarding eco-friendly products, and increasing demand for attractively packaged foods and beverages.
Also, the strategic initiatives taken by the market players are fueling the growth of the market in the upcoming years.
Increasing Focus on the Use of Plastic in the Automotive Industry
The growing usage of plastics over metal in the automotive industry is bolstering the growth of the market. In the automotive industry, there is a rise in the adoption of plastic materials due to their ability to lower the weight and carbon emission in vehicles. It also increases fuel efficiency, which in turn, is expected to drive the growth of the market.
Moreover, owing to the rising preference for personal vehicles, the use of plastics in the automotive industry is surging as they have revolutionized the safety, performance, functionality, and construction of vehicles.
Increasing Demand for Biodegradable Masterbatches to Foster the Market Growth
The use of biodegradable masterbatch is emerging in daily consumer good applications, particularly in agricultural films. This is due to the various benefits associated with it, such as cost-effectiveness, increasing shelf life, non-toxic, and ideal for drugs and food packaging applications. The growing demand for biodegradable masterbatch is also providing opportunities to new entrants in the market. Biodegradable masterbatches are highly preferred over conventional because the later take several hundred years to decompose, which is very harmful to the environment.
Increasing Adoption of Plastic Packaging in E-commerce
The rising adoption of plastic packaging in various sectors, such as home & personal care and food & beverages, is driving the growth of the market. Plastic packaging is becoming very popular among consumers for delivered products through e-commerce due to its unbreakable and lightweight properties. As e-commerce sales are growing, the use of plastic packaging is also rising, which, in turn, is augmenting the growth of the market.
According to Adobe's Digital Economy Index's most recent data for 2022, US e-commerce soared by 49% in April, where online grocery helped drive the increase in revenues, with a 110% boost in daily sales between March and April. In the meantime, electronic sales went up by 58% and book sales doubled. The increasing demand for medicine, food, and other consumer goods due to rise in population is surging the growth of the plastic used for packaging. Therefore, facilitating the growth of the market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present United States masterbatch market
- Clariant AG
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Penn Color, Inc.
- A. Schulman, Inc.
- RTP Company, Inc.
- Americhem Inc
- Ferro Corporation
Report Scope:
United States Masterbatch Market, By Type:
- White
- Black
- Additive
- Color
- Others
United States Masterbatch Market, By Polymer:
- PP
- LDPE/LLDPE
- HDPE
- PVC
- PET
- Others
United States Masterbatch Market, By Application:
- Film Extrusion
- Injection Molding
- Blow Molding
- Rotomolding
- Others
United States Masterbatch Market, By End User Industry:
- Packaging
- Building & Construction
- Consumer Goods
- Automotive
- Textile
- Others
United States Masterbatch Market, By Region:
- North-East United States
- Mid-West United States
- West United States
- South United States
For more information about this report visit https://www.researchandmarkets.com/r/3t7eky
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