Companies Profiled
Some of the strongest firms in the global market for masterbatch include Prayag Polytech (India), Clariant (Switzerland), DongGuan HengCai Plastic Pigment Ltd (China), RTP Company (US), Ampacet corporation (US), Americhem Inc (US), Schulman Inc (US), ALOK (India), Plastika Kritis SA (Greece), Cabot Corporation (US), POLYPLAST (Germany), PolyOne (US), Plastiblends (India), GABRIEL-CHEMIE Group (Austria), Astra Polymers (Saudi Arabia), GCR Group (Spain), Tosaf (Israel), Hubron International (UK) and many more.
The global market is extremely competitive and is marked by a number of global and local players. These players frequently indulge in exhaustive research and development activities and launch new and improved masterbatches in the market to bolster brand recognition as well as their rankings.
For instance, in February 2021, Sukano introduced its latest antimicrobial masterbatch named SUKANO that has numerous PLA applications. The new masterbatch helps eradicate bacteria along with several microorganisms from the surface. The company has also revealed that the new product has been proven effective in protecting against SARS-Cov-2 as well as Influenza H1N1.
Segmental Status
Type and application are the major segments considered in the MRFR report, in order to present an exhaustive understanding of the masterbatch industry.
Color, white, black, and additive are the market segments listed in the report, depending on the type. The color segment should be able to capture a growth rate of over 7% and could also touch USD 4,980.3 million by 2028. The color masterbatch segment is also expected to attain the top position in the years ahead.
Applications profiled in the market report include building construction, electrical electronics, consumer products, automotive, packaging, and more. Masterbatch has a wide range of applications in the automotive industry, and therefore, the latter has taken the lead and touched over USD 800 million in 2020. The segment is also presumed to procure a CAGR of around 7.0% in the years ahead.
Scope of the Report
Market Research Future (MRFR) believes that the Masterbatch Market size can touch a valuation of around USD 13,839.3 Million by 2028-end.
Regional Status
The highest gainer in the global market is Asia Pacific, as the region secured the largest share of around 39.1% in 2018. The market growth in APAC has remained unparalleled ever since, thanks to the dramatic expansion of the packaging industry as well as the advancing regulatory scenario pertaining to the automotive sector. The APAC market is also touted to capture a growth rate of more than 7.0% in the following years, while China should take the lead in the region while soaring at a rate of around 7.5% between 2021 to 2028.. A variety of polyethylene types like linear low-density polyethylene, high-density polyethylene, and low-density polyethylene are available in the region and continue to enjoy robust sales. Polyethylene is increasingly being used in the construction sector as a carrier polymer, while packaging and automotive are also emerging as major end-users in the regional market.
North America shows a lot of promise and the market size in the region could burgeon at a moderate rate of more than 6.0% from 2021 to 2028. By the end of 2028, the North American market is presumed to reach around USD 3,000 million, largely due to the significant industrialization in the region along with the booming sales of consumer goods. The escalating number of construction building activities in the region will also ensure sustained market growth throughout the assessment period.
Top Boosters and Key Barriers
The packaging industry is currently thriving across the world, especially given the significant growth witnessed by the e-commerce sector over the years. Consumer goods manufacturers offer aesthetic packaging to garner consumer attention and bolster their sales. Different types of masterbatches are blended with various types of polymers to create attractive packaging, which helps boost the product demand. Several online retailers extensively use boxes as per the product that needs to be transported. The boxes that contain masterbatch ensure that the product remains safe throughout the transportation. With proper packaging turning into a prime focus area for e-commerce retailers, plastic masterbatch is touted to witness robust demand in the coming years, which should mean favorable prospects for the global market.
Another major end-user in the global market is the automotive industry, wherein the demand for plastic has risen considerably over the years. This could be due to growing focus on reducing the vehicle’s weight and improve its fuel efficiency. As a result, the demand for multiple types of plastics that have masterbatch additives along with useful properties has mounted significantly in the automotive industry.
Emerging regions such as Asia Pacific, particularly countries like Japan, China and India boast of large-scale production of various automobiles. The constantly burgeoning automotive industry across these countries will present lucrative opportunities to masterbatch companies in the coming years.
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