PUNE, India, January 18, 2016 /PRNewswire/ --
The report "Masterbatch Market by Type (White, Black, Color, Additive, Filler, and Others) and by Application (Packaging, Building & Construction, Automotive, Consumer Goods, Textile, and Others) - Global Trends & Forecasts to 2020", published by MarketsandMarkets, The Masterbatch Market size is projected to reach USD 12.61 Billion by 2020, registering a CAGR of 7.0% during the forecast period.
Browse 120 market data tables with 58 figures spread through 157 pages and in-depth TOC on "Masterbatch Market"
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The increasing use of plastics as a substitute for conventional materials is a major driver of the market. Moreover, industrialization in Asia-Pacific and Latin America supports the growth of the market in the regions.
Packaging is the largest application segment of Masterbatch
The availability of wide variety of plastics and their adherence to regulatory standards make plastics the most extensively used material in packaging. Plastics can be molded, extruded, blown, and cast into films, sheets, foams, and pellets. Plastics also help provide better aesthetics to packaging as they offer ease in providing the required color, shape, size, utility, printing, weight, protection, and others. The growth of plastics in the packing industry is driving the demand of masterbatch.
The growth of the packaging industry in Asia-Pacific due to industrialization is also driving the demand of masterbatch. The packaging industry in Asia-Pacific is growing due to urbanization and changing demand of consumers. The increasing demand of masterbatch and low manufacturing costs in Asia-Pacific has led many major masterbatch manufacturers to shift their production facilities in the region.
Color masterbatch segment is projected to witness the highest growth
Color masterbatch is the largest segment of the masterbatch market, in terms of volume and value. The dominance of color masterbatch can be attributed to the growing demand of end-use industries to make their products visually appealing for customers.
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Asia-Pacific is the key market for Masterbatch
Asia-Pacific dominated the Masterbatch Market in 2014. The market growth is driven by the rapid economic growth of the nations in the region. End-use industries such as packaging, building & construction, consumer goods, automotive, and textiles are witnessing high growth in Asia-Pacific and South America., thus end-use industries are key driver of the global masterbatch market.
The demand for color and additive masterbatch is projected to be the highest in the region, due to increased plastics production and use of innovative products to enhance the properties of plastic products. China is projected to witness the highest growth in the region. The market in China is primarily driven by the growing plastic industry. The increasing manufacturing sector in the region driven by low costs and easy availability of raw materials has led to exponential growth of the plastics industry in China. The masterbatch market in China is also driven by the growing consumerism trend in the country.
Clariant AG (Switzerland), Ampacet Corporation (U.S.), and Plastika Kritis S.A. (Greece) are some of the major players in the global masterbatch market included in this report.
This report covers the market, by value and volume, for masterbatch and forecasts the market size till 2020. The report includes the market segmentation by type, by application industry, and by region. It also provides company profiles and competitive strategies adopted by the major market players in the global masterbatch market.
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