Masterbatch Market is expected to grow at a CAGR of 5.1% - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 1, 2022 /PRNewswire/ -- Masterbatch Market is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% from USD 11.1 billion in 2020, as per the exclusive report by MarketsandMarkets™. Masterbatch is a blend of pigments, additives, and polymer materials (carrier resin). It is used as a chemical ingredient to enhance the properties of plastics and impart shades of color. Masterbatch is widely available in granular shape for easy processing of plastic products. Color, additive, black, white, and filler are the different types of masterbatches used in polymers such as PP, LDPE & LLDPE, HDPE, PVC, PET, PS, and PUR. Some of the important applications of masterbatch are packaging, building & construction, automotive, consumer goods, textile, and agriculture.
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PP is the largest polymer segment of the Masterbatch Market. APAC was the largest market for masterbatch in 2019, in terms of both volume and value. Factors such as the widely preferred coloring method all over the world will drive the Masterbatch Market.
'Color masterbatch is projected to be fastest growing type for masterbatch between 2020 and 2025'
The color segment is estimated to account for the largest share of the market. The growing need for color masterbatch in the packaging, building & construction, automotive, consumer goods, and agriculture applications to increase the aesthetic appeal of the product is driving the color Masterbatch Market. There are different type of color masterbatches namely, standard color, specialty color, and tailor-made color. Standard color is used to impart standard color to plastics. This type of masterbatch is readily available in basic colors such as red, blue, green, and yellow. Specialty color masterbatch is mostly used for high visibility and is readily available with the manufacturers such as metallic, pearlescent, fluorescent, and phosphorescent. Finally, tailor-made color is customized color based on consumer demand.
'LDPE & LLDPE is projected to be fastest growing polymer for masterbatch between 2020 and 2025'
LDPE & LLDPE is the fastest-growing polymer for masterbatch. It is projected to register a higher CAGR of in terms of value, between 2020 and 2025. This growth is attributed to its relatively low cost of production and its increasing use in various applications, such as consumer goods, packaging, and medical & healthcare. These are the most common plastics used in different applications, mainly due to their cost and their characteristics. On the other hand, high performance plastics are used in applications where specific functionalities are required to sustain in extreme conditions.
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'Packaging is projected to be the fastest growing application in Masterbatch Market between 2020 and 2025'
Packaging is widely for the protection and transportation of goods utilized at the retail, industrial, and institutional levels. The availability of a wide variety of plastics and their adherence to regulatory standards make them the most extensively used material for packaging. Plastics can be molded, extruded, blown, and cast into films, sheets, foams, and pellets. They also help to provide better aesthetic appeal to the packaging, as they provide the required color, shape, size, utility, printing, weight, and protection. Growth in the use of plastics in the packaging industry is driving the demand for masterbatch. The growing importance of color in marketing and branding activities is further fueling the growth of the Masterbatch Market.
APAC projected to be fastest growing region for the Masterbatch Market during the forecast period
APAC is projected to be the largest Masterbatch Market between 2020 and 2025. The dominance of this region in the global market is attributed to rising demand from developing countries such as Taiwan, India, and China for infrastructure development, which is one of the major drivers of the market. High economic growth, growing manufacturing industries, and availability of low cost labor are some of the factors leading to the growth of the Masterbatch Market in the region. The increased demand for plastic has led to the expansion of plastic manufacturing plants in the region. Hence, the per capita consumption of plastics is estimated to rise significantly between 2020 and 2025, thereby driving the Masterbatch Market.
Key market players profiled in the Masterbatch Market Report include:
- LyondellBasell (US)
- Avient Corporation (US)
- Ampacet Corporation (US)
- Cabot Corporation (US)
- Plastika Kritis S.A. (Greece)
- Plastiblends India Ltd. (India)
- Hubron International (UK)
- Tosaf Group (Israel), and
- Penn Color, Inc. (US)
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