Dublin, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The "Masterbatch Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (White, Black, Additive, Color, Others), By Polymer (PP, LDPE/LLDPE, HDPE, PVC, PET, Others), By Application, By End User Industry, By company and By Region" report has been added to ResearchAndMarkets.com's offering.
The global masterbatch market is anticipated to observe impressive growth during the forecast period, 2023-2027. The major factors include increasing focus on the use of plastic in the automotive industry, growing use of biodegradable masterbatch, and technological advancements in the plastic industry are bolstering the growth of the market. Masterbatches are a solid or liquid mixture of polymer, pigments, and additive materials.
They are used to give shade, and color to plastic products and also, they help to enhance properties of plastic for applications in various industries such as agriculture, automotive, building & construction, and packaging industries. The other factors supporting the market's growth are, increasing demand for various household products & appliances, rise in urbanization, growing commercial and residential projects in developing economies, increase in the demand for personal vehicles, increasing awareness regarding the beneficial properties of masterbatches, rise of ecommerce, growing number of mergers and strategic acquisitions, and rising awareness among the consumers about attractive interiors.
Increasing Focus on the Use of Plastic Over Metals
Growing usage of plastics over metal in various industries such as automotive, packaging, construction, consumer goods, transportation are bolstering the growth of the market. In automotive industry, there is a surge in adoption of plastic materials due to its ability to reduce the weight and carbon emission in vehicles.
Also, it increases the fuel efficiency in the vehicles, which in turn, is expected to drive the growth of the market in the upcoming years. Moreover, the rising building sector in various countries is projected to fuel the growth of the market. This is due to the improvements in transport and mobility systems, electricity mega projects, and innovation in social infrastructure. For instance, as per the Business Monitor International (BMI), IN 2018, European construction witnessed a growth of 2.4%, on account of an increased trust in the industry, increased demand and strengthened exports, and improved outlook for commodity prices.
Increasing Demand for Biodegradable Masterbatches to Foster the Market Growth
Over the past few years, the use of biodegradable masterbatch is rising in various daily consumer good applications, particularly in food and beverage industry. This is due to the various challenges faced by the conventional plastic such as they take several hundred years to degrade. The growing demand for biodegradable masterbatch in packaging industry is also providing various opportunities to the new players in the market. The Biodegradable masterbatch has various benefits such as they are cost-effective, helps to minimize the impact of plastic waste, and it adds value to brands and products.
Increasing Adoption of Plastic Packaging in Various Sectors
The rising adoption plastic packaging in various sectors such as medical, home & personal care, and food & beverages are fueling the growth of the market. In food & beverages, the use of packaging helps to enhance food quality, and helps to increase the shelf life. In addition, pharmaceutical industry is another major sector, where plastic packaging is widely used. The pharmaceutical industry hugely relies on packaging and labelling due to its properties such as moisture barrier, low water absorption, heat and flame resistance, high stability, and others. Thus, in turn, augmenting the growth of the market. For instance, in 2018, according to the EPA estimation, roughly 14.5 million tons of plastic containers and packaging were generated.
Report Scope:
In this report, global masterbatch market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Masterbatch Market, By Type:
- White
- Black
- Additive
- Color
- Others
Masterbatch Market, By Polymer:
- PP
- LDPE/LLDPE
- HDPE
- PVC
- PET
- Others
Masterbatch Market, By Application:
- Film Extrusion
- Injection Molding
- Blow Molding
- Rotomolding
- Others
Masterbatch Market, By End User Industry:
- Packaging
- Building & Construction
- Consumer Goods
- Automotive
- Textile
- Others
Masterbatch Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Turkey
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Masterbatch Market
5. Voice of Customer
6. Global Masterbatch Market Outlook
7. North America Masterbatch Market Outlook
8. Europe Masterbatch Market Outlook
9. Asia-Pacific Masterbatch Market Outlook
10. South America Masterbatch Market Outlook
11. Middle East and Africa Masterbatch Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape (Inclusive of SWOT Analysis)
15. Strategic Recommendations
Companies Mentioned
- Clariant AG
- Avient Corporation
- Ampacet Corporation
- Cabot Corporation
- Plastika Kritis S.A.
- Plastiblends India Ltd.
- Penn Color, Inc.
- LyondellBasell Industries N.V.
- Hubron (International) Limited
- Tosaf Compounds Ltd.
- A. Schulman, Inc.
- Global Colors Group
- Ingenia Polymers Corporation
- RTP Company, Inc
For more information about this report visit https://www.researchandmarkets.com/r/zf5sdm
