Wilmington, Delaware , Sept. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Additive Masterbatch Market by Carrier Resin (Polystyrene, Polyethylene, Polyvinyl Chloride, Polypropylene, Polyethylene Terephthalate and Others), Type (Antioxidant, Antimicrobial, Flame Retardants and Others), and Application (Building and Construction, Agriculture, Automotive, Packaging, Consumer Goods and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the additive masterbatch market was valued at $3.4 billion in 2023, and is estimated to reach $6.1 billion by 2033, growing at a CAGR of 6% from 2024 to 2033.
Prime determinants of growth
The global additive masterbatch market is experiencing growth due to increase in demand for plastic products across various industries, such as packaging, automotive, construction, and consumer goods. However, volatility in raw material prices hinders market growth to some extent. Moreover, the growing emphasis on sustainable and green materials opens avenues for the development of innovative, eco-friendly masterbatch present additional opportunities for the additive masterbatch market.
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Report coverage and details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $3.4 billion |
| Market Size in 2033 | $6.1 billion |
| CAGR | 6.0% |
| No. of Pages in Report | 300 |
| Segments Covered | Carrier Resin, Type, Application and Region. |
| Drivers | Technological advancements and innovation Increasing demand for plastic products Regulatory and environmental policies |
| Opportunity | Eco-friendly and sustainable masterbatch solutions |
| Restraint | Fluctuating raw material prices |
Polyethylene segment is projected to maintain its dominance by 2033
By carrier resin, the polyethylene segment held the highest market share in 2023 and is likely to retain its dominance throughout the forecast period. The increasing demand for polyethylene in the additive masterbatch market can be attributed to several factors. The versatility of polyethylene as a base material allows for the incorporation of various additives such as UV stabilizers, anti-oxidants, and colorants to enhance its performance characteristics. Secondly, the rise in demand for plastic products across industries like packaging, construction, and automotive necessitates the use of polyethylene-based masterbatches to impart desired properties. Additionally, the cost-effectiveness and ease of processing of polyethylene further contribute to its popularity in the additive masterbatch market.
Antioxidant segment is expected to maintain its dominance by 2033
By type, the antioxidant segment held the highest market share in 2023 and is estimated to dominate during the forecast period. The increase in demand for antioxidant-type additive masterbatch is driven by several factors. Firstly, there is a growing need to protect these materials from degradation caused by exposure to heat, oxygen, and other environmental factors, as industries rely majorly on polymers for manufacturing. In addition, manufacturers are seeking solutions to enhance the longevity and performance of their products, with increased awareness of the detrimental effects of oxidation on the properties of plastics. Furthermore, stringent regulations regarding product durability and sustainability are surging the adoption of antioxidant additives to ensure compliance and longevity in various applications.
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Packaging segment is expected to maintain its dominance by 2033
By application, the packaging segment held the highest market share in 2023 and is estimated to dominate the market during the forecast period. The increase in demand for packaging applications in the additive masterbatch market is driven by factors such as the rising need for enhanced shelf life and aesthetic appeal of products, growing consumer demand for lightweight and durable packaging materials, and the shift towards sustainable and recyclable packaging solutions. In addition, the developing e-commerce industry and evolving food and beverage sector require advanced packaging solutions to ensure product safety and integrity. These factors collectively boost the demand for additive masterbatches, which enhance the functional and visual properties of packaging materials.
Asia-Pacific is expected to experience the fastest growth throughout the forecast period
By region, Asia-Pacific was the fastest-growing region in terms of revenue in 2023. The Asia-Pacific additive masterbatch market is experiencing increase in demand due to rapid industrialization and urbanization, particularly in China and India, which boosts the consumption of plastics in packaging, automotive, and construction sectors. In addition, the region's growing middle class and rising disposable incomes drive demand for consumer goods and electronics, necessitating advanced plastic materials. Moreover, stringent environmental regulations and a push towards sustainable and eco-friendly products are encouraging the use of specialized masterbatches to enhance the performance and recyclability of plastics, further propelling the market growth.
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Leading Market Players: -
- CLARIANT
- DOW
- Schulman, Inc.
- LyondellBasell Industries Holdings B.V.
- Avient Corporation
- Plastika Kritis S.A.
- Plastiblends
- PPM
- RTP
- Ampacet Corporation
The report provides a detailed analysis of these key players in the global additive masterbatch market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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