November 18, 2021
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 with MarketStudyReport, global masterbatch market is expected to surpass a valuation of USD 15 billion over the forecast period 2019-2026.
Surging demand for lightweight vehicles, increasing use of plastics in the automotive sector to improve fuel efficiency, and steady adoption of biodegradable masterbatches for various applications are driving the growth of global masterbatch market.
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For the uninitiated, a masterbatch is a mixture of additives, pigments, and polymer materials that impart color and other properties to plastics, allowing them to be used in a variety of end-use sectors such as automotive, packaging, and others.
On the downside, stringent environmental regulations, as well as continuously increasing product prices may impede the product demand in the coming years.
Based on product type segmentation of worldwide masterbatch industry, color segment is likely to grow at a CAGR of 5.5% over the forecast period, due to surging demand across various end-use sectors such as agriculture, construction, automotive, consumer goods, and packaging.
With respect to end-user scope, packaging segment is poised to be worth USD 4.5 billion by 2026, owing to increasing demand from the food packaging sector. Furthermore, shifting focus of manufacturers towards innovative product packaging for enticing more customers is anticipated to propel segmental growth in the upcoming years.
From a regional standpoint, Asia Pacific market is predicted to register substantial gains during the projected timeline, driven by the expansion of automotive and packaging sectors in the region.
The competitive landscape of global masterbatch market is defined by companies like Plastiblends India Ltd., Cabot Corporation, Ampacet Corporation, Tosaf Compounds Ltd., A Schulman, Inc. (LyondellBasell Industries Holdings B.V.), Avient Corporation, Plastika Kritis S.A., Clariant AG, RTP Company, Hubron (International) Ltd., and Penn Color, Inc., among others.