HYDERABAD, India, June 26, 2019 /PRNewswire/ -- Swift emergence of the masterbatch market on the global business landscape can primarily be attributed to the increasing demand for masterbatches in a host of end use sectors especially in food and beverage packaging. The rapid expansion of these end-user industries has, in turn, vigorously augmented the pace at which the masterbatch industry has been progressing in recent times. Moreover, in order to enhance bio-degradable masterbatches which are utilized to manufacture agriculture films, a range of top masterbatch participants are initiating huge R&D investments and various patent activities.
The masterbatch market is expected to reach $14 billion by 2024, growing at a CAGR of 5%. The decorative coatings industry is being largely driven by growth in the food and beverage packaging industry. In particular, the Asia Pacific (APAC) region is the largest market for masterbatches globally, driven by growing demand from China, India and Japan. The continuous development in various industrial sectors is one of the significant reasons driving the regional market, along with adoption of modernization and advanced technologies, development in the automotive industry and enhancements of obtainable revenue by consumer are the major factors driving market growth.
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In response to demand from end users, masterbatch manufacturers are developing a range of color concentrate additives or combined masterbatches based on a Poly Lactic Acid (PLA) carrier material and engineered for different processing technologies. PLA is gaining increasing acceptance in the market and is seen as a feasible alternative to various types of conventional plastics, due to its good balance between physicochemical properties and sustainability. Obtained from lactide which are derived from starch fermentation and in some cases from biodegradable materials where norms and standards are strictly followed, PLA has found application in industries ranging from automotive, biomedical, and packaging, as well as in the growing industry of 3D printing.
Key Insights on Masterbatch Market
- In 2019, Gabriel-Chemie introduced new masterbatch of flowing metallics which create a silky, homogeneous surface on the plastic object by means of mass coloration. The surface is free from visible glitter particles and characterized by an intense deep gloss. This alternative offers benefits in process of packaging for numerous plastics packaging manufacturers, especially in the cosmetics industry. The manufacturing process of this masterbatch is much faster, which reduces production cost as well as provides better quality and performance as compared to conventional masterbatches.
- In 2019, laser additive masterbatch was introduced in PCD Paris. Laser technology offers numerous advantages as compared to other decoration methods. Laser marking is abrasion-resistant, chemical-resistant, weather-resistant and can even be applied to soft, coarse, stepped or curved surfaces. In addition, laser technology also excels with features including high flexibility which makes it perfect for small batch sizes and rapidly changing layouts. This laser additives and combination masterbatches – color & additive –are majorly suitable for all thermoplastics.
- Top manufacturers are producing masterbatches by recycling plastic waste generated from private and commercial end users. They refine the recycled polymer and create a sustainable masterbatch by adding new color and functional additives to the recyclate and make it reusable for the industry. The result is an ideal recycling raw material with this masterbatches, which lends sustainability, function and color to new plastic articles.
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There are many products in the market utilizing this technology. Further, capacity expansions by leading vendors including Clariant AG, Evonik Industries, DSM, Americhem, A. Schulman, and others will fuel market growth during the forecast period. Leading masterbatch manufacturer Clariant AG have launched an innovative liquid masterbatch system which can be used with almost all thermoplastic resins and processes including extrusion, injection molding and blow molding. This masterbatch system offers a range of chemically balanced blends of pigments and additives that deliver an unambiguous combination of performance and properties which helps to gain a surplus advantage in packaging applications.
The global masterbatch industry is showing strong growth on the back of increasing demand for polymer and with its ability to replace alternative methods of polymer modification. Ongoing innovations and development on masterbatch have increased adoption of masterbatches across various applications. Apart from packaging, the new innovative masterbatches are being increasingly implemented in the automotive sector, which will further propel the growth of masterbatch in upcoming years.
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