January 14, 2020
According to the research report titled ‘Masterbatch Market Size By Type (Black, White, Color, Additive), By End-user (Automotive, Consumer Goods, Packaging, Agriculture, Construction), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global masterbatch market is expected to surpass USD 15 billion by the year 2026.
Increasing use of light-weight plastic components in automobiles to improve fuel efficiency is the major factor driving the masterbatch market growth. Rising consumer preference for light-weight vehicles, alongside the growth of automobile and packaging industries will augment the market outlook. Masterbatch is an amalgamation of polymer materials, pigments, and additives that impart color and desirable properties to plastic.
Availability of masterbatch in over 200 color variants and variety of textures will further facilitate its use across various end-use applications. However, strict government regulations pertaining to environment conservation, in tandem with inflating product prices may hinder the growth of masterbatch market. Nevertheless, increasing utilization of biodegradable masterbatches will stimulate the industry outlook.
As per product type, color masterbatch market segment is expected to grow with a CAGR of 5.5% during 2019-2026. The growth is attributed to rising adoption of color masterbatch in aerospace, furniture, agriculture, construction, consumer goods, automotive, and packaging industries. On the other hand, white and black masterbatch segments will register substantial growth over the forthcoming years as they are widely used in packaging and automotive sectors.
Speaking of the end-use spectrum, packaging segment is anticipated to account for USD 4.5 billion by the year 2026. Rapid expansion of packaging sector, along with shifting preference towards appealing packaging by manufacturers to attract customers are fueling the growth of the segment.
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Considering the geographical landscape, the report states that Asia-Pacific will maintain its dominance in the global masterbatch market over the analysis period, due to robust expansion of packaging and automotive sectors. Meanwhile, Middle East & Africa, North America, and Europe will generate considerable product demand during the estimated timeframe.
The prominent companies operating in masterbatch market are Plastiblends, Penn Color, Inc., Hubron International, A Schulman, Inc., Tosaf Group, Plastika Kritis S.A., Ampacet Corp., RTP Co., PolyOne, Cabot Corp., and Clariant.
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