As per the latest report by IMARC Group, titled “Masterbatch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global masterbatch market size reached US$ 10.9 Billion in 2022. A masterbatch (MB) is a plastic formulation containing additives that are utilized for improving the appearance and performance of the final product. It assists in protecting polymers from harmful radiations and improving other properties, which includes antistatic, antilocking, UV stabilizing and flame retardation. The masterbatch is cost-effective and easy to use, owing to which it finds applications in the production of plastic products, which are utilized in the textile, packaging, electronics, automotive, construction and pharmaceutical industries worldwide.
Global Masterbatch Market Trends:
Rapid urbanization, in confluence with the escalating demand for environment-friendly and innovative coloring agents, represents one of the major factors strengthening the market growth. Apart from this, there is a significant rise in the demand for masterbatch, which is emerging from the automotive sector. Automobile manufacturers nowadays are replacing heavy metal parts with lightweight plastic components that are fortified with masterbatches to obtain the desired colors and mechanical properties. Furthermore, the growing awareness about the advantageous properties of the product, which includes providing enhanced color consistency, opacity and dispersion rate, acts as another growth-inducing factor. Other factors that are projected to fuel the market growth include the rising utilization of black masterbatch for infrastructural applications and the increrasing demand for bio-based plastic products, such as agricultural films. On account of these factors, the market value is projected to reach US$ 14.5 Billion by 2028, expanding at a CAGR of 4.8% during the forecast period (2023-2028).
- Based on the type, the market has been segmented into color, white, black, additive and filler.
- On the basis of the polymer type, the market has been segregated into polypropylene (PP), low-density polyethylene (LDPE)/ linear low-density polyethylene (LLDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), polyurethane (PUR), polyethylene terephthalate (PET), polystyrene (PS) and others.
- The market has been analyzed on the basis of the application into packaging, building and construction, consumer goods, automotive, textile, agriculture, and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being A. Schulman Inc., Americhem, Inc., Ampacet Corporation, Cabot Corporation, Clariant AG, Gabriel-Chemie GmbH, Hubron (International) Ltd., Penn Color, Inc., Plastiblends India Ltd., Plastika Kritis S.A., PolyOne Corporation, Polyplast Müller GmbH, RTP Company, Inc. and Tosaf Compounds Ltd.
|Base Year of the Analysis
||Type, Polymer Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||A. Schulman Inc., Americhem, Inc., Ampacet Corporation, Cabot Corporation, Clariant AG, Gabriel-Chemie GmbH, Hubron (International) Ltd., Penn Color, Inc., Plastiblends India Ltd., Plastika Kritis S.A., PolyOne Corporation, Polyplast Müller GmbH, RTP Company, Inc. and Tosaf Compounds Ltd.
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