Pune, India, April 30, 2019 (GLOBE NEWSWIRE) -- Market Research Future’s (MRFR) report reveals a possibility for the Masterbatch Market to Reach USD 11,903.45 million by the end of 2023 scaling 5.54% CAGR during the forecast period (2018-2023).
As an alternative product, plastic’s venture to myriad sectors is pervasive in nature. Along with it, the Global Masterbatch Market is expanding. Masterbatch is granular shaped pigments or additives in concentrated form. It adds colors to plastic during the manufacturing process of it. The process is quite economical owing to which masterbatch is enjoying traction, across the globe. Several sectors have provided thrust, and the need for its mass production is scaling substantial CAGR.
Among sectors, the automotive is providing substantial traction to the Masterbatch Market. The industrial demand for lightweight products and cost-effective productions have triggered an intake of masterbatches in large volumes. Masterbatch’s percolation in the packaging industry is also substantial. Plastics play a key role in the sector owing to which masterbatch can flex its market dominance quite considerably. Rapidly rising urbanization and industrialization are playing their part in shaping the industry. Their impact is more on the lifestyle which has an all-encompassing approach. The changes it triggers is like the tip of the iceberg where most of the substantial changes are hidden yet profound. Things involving plastic and adhesives are now influencing demand for Masterbatches.
On the flip side, the Masterbatch Market could feel daunted as growing eco-concerns are now making cases against plastics. Moves are getting made to reduce plastic consumption to curb carbon footprint which can hinder the Masterbatch Market Growth.
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Getting a Closer Look
The Global Masterbatch Market requires a step-wise segmentation for a holistic market approach. This would reveal various growth pockets and possibilities that the market could explore for a better impact in its market revenues. MRFR, in their recently published report, segmented the Global Masterbatch Market into type and application. By type, the masterbatch market includes color, white, black, and additive. The color segment has the leash as of 2017, and its projected valuation of USD 4202.4 million would be the highest among peers by the end of 2023. Compared to powders. The color masterbatch excels in several aspects. It is easy to store, feed, and handle thanks to which several industries find better applications of the sub-segment. Based on the application, the Masterbatch Market consists packaging, building & construction, consumer products, electrical & electronics, automobile industry, and others. It is the packaging industry that is steering the global market ahead.
APAC Has Advantage
Region-specific study of the Global Masterbatch Market comprises Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and Middle East & Africa (MEA). MRFR’s detailed report reveals advantages enjoyed by the APAC region which make the region a global market leader. Regional policies are assisting manufacturers in becoming a name where India, China, Malaysia, and South Korea have emerged as major contributors. The valuation could go up to USD 4,782.10 million by the end of 2023. North America, being the industrial powerhouse, is fetching substantial revenue by creating a massive scope for the masterbatch inclusion. Several sectors such as automotive, packaging, and building & construction in the U.S. are providing much traction to the regional market growth. In Europe, it is Germany, France, Italy, Russia, and the U.K. creating much scope for the market to expand. But Latin America and the MEA region may undergo some plummet but most of the time, the business in these regions would be steadier.
Browse the market data and information spread across 140 pages with 162 data tables and 19 figures of the report “Masterbatch Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/masterbatch-market-5578
Key Players Head-to-Head
Players are often engaging in strategic battles to overtake each other. But that also has enriched scope for the global market. Companies such as PolyOne, Clariant, Kritis S.A., Plastika A. Schulman, Inc., Plastiblends, GABRIEL-CHEMIE Group, POLYPLAST, Americhem, Inc., Ampacet Corporation, ALOK, Hubron International, Tosaf, Astra Polymers, DongGuan HengCai Plastic Pigment Ltd., Prayag Polytech, Cabot Corporation, GCR Group, RTP, and others have their horns locked in fierce competition.
Industry News:
Americhem, in their latest discussion, launched a new product which is a PET synthetic fiber and to be used for dispersed dyes. The masterbatch can reduce the time of dying, infuse flexibility, reduce treatment costs, and enables the production of darker dyes. Sukano Mobility Aid is unique and first-of-its-kind. During the production, PET masterbatch can be blended with PET or RPET material while molding or processing. DowDuPont, on the other hand, is planning to promote their silicone-based masterbatches. The product is stable, long-lasting, and can be used in contact with food.
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