BURNABY, British Columbia, May 27, 2014 /PRNewswire/ --
Growth in Packaging Industry and Development of New Packaging Methods Driving Global Masterbatch Market
Masterbatches are concentrated mixture of pigments or additives, solid or liquid, used for coloring or imparting desired properties to polymers. Broadly, masterbatches can be categorized into four distinct types- black, white, color and additives. Major end user industries for masterbatches include packaging, building and construction, automotive, consumer goods, textiles, agriculture and furniture. Packaging accounts for the highest share of around 40% in terms of global masterbatch consumption, thereby making it a crucial industry for driving growth in masterbatch market. Packaging industry uses all types of masterbatches, but the most commonly used are color and white masterbatches. Food and beverage manufacturers continue to enhance their focus on attractive product packaging, by using various custom colored masterbatches, in order to gain consumer attention. Further, with the advent of new packaging technologies such as antioxidant, UV resistant, heat resistant, antimicrobial, and anti-fog packaging, the usage of additive masterbatches has surged significantly over the last few years.
According to a recently published report by TechSci Research, "Global Masterbatch Market Forecast & Opportunities, 2019", the worldwide masterbatch market is forecast to witness a CAGR of 5.3% during 2014-19. This market expansion is expected to be driven by strong growth in major end user industries such as packaging, building and construction, automotive and consumer appliances, particularly in Asia-Pacific, South America, Eastern Europe and the Middle-East. In addition, increasing market participation of major global masterbatch players such as A. Schulman, Ampacet, Clariant, and PolyOne in Asia-Pacific is expected to drive the region's masterbatch market, thereby boosting the global masterbatch industry.
"The demand for light weight vehicles has surged considerably over the last few years due to strict greenhouse gas emission targets set by the European Union. The use of plastics in automotive facilitates in reducing vehicle weight, increasing fuel efficiency and lowering carbon footprint. Plastics and other polymers are therefore increasingly replacing various heavy metal vehicle parts. The light weight vehicle market is expanding across the globe, with Asia-Pacific and Europe currently being the fastest growing regions in terms of light weight vehicle production and sales. The increasing plastic consumption in the automotive industry is expected to benefit masterbatch market over the next five years",said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
"Global Masterbatch Market Forecast & Opportunities, 2019" has evaluated the future growth potential of masterbatch market globally and provides statistics and information on market structure and industry behavior trends. The report includes global masterbatch market and demand forecasting. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in Masterbatch market, globally.
Sales & Marketing Consultant
Contact Phone- +1 646 360 1656
SOURCE TechSci Research