The global Masterbatch Market is likely to showcase a growth of around 5% during the forecast period.
A comprehensive overview of the global Masterbatch market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Masterbatch market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Masterbatch market at regional and country levels. The global Masterbatch Market is likely to showcase a growth of around 5% during the forecast period.
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Market Overview
The global masterbatch market is growing on account of the increasing usage of plastic products in a wide range of industries including packaging, automotive, building & construction, pharmaceutical, agriculture, and consumer goods to name a few. As these industries have different requirements whether it is color or some special kind of properties. Therefore, to meet the requirement of each industry, plastic product manufacturers use various kinds of masterbatch as it provides the required pigment and characteristics to the product. Between 2010-2020, the production of plastics increased nearly by 100 million tons from 270 million tons in 2010 to 367 million tons in 2020 and is likely to increase in the foreseeable future as industries across the globe are adopting plastic made products over metals especially in automotive, in order to reduce the weight of the product while simultaneously provide more aesthetic pleasure without comprising with quality. As the demand for masterbatch is directly proportional to the plastic industry dynamics therefore with the increase in plastic demand, the market for masterbatch would also grow.
The global masterbatch market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By type, the market is primarily divided into:
· White
· Black
· Color
· Additive
· Filler/Combination
Among these, white held the prominent share in the market as white color is one of the most common colors that is widely used across the industries. Applications range from pipes, cables, packaging films to the injection molding of electronic parts, where a high level of gloss properties and excellent dispersion is required. Further, it provides opacity and base color to the plastic used extensively in the food & beverage and pharmaceutical industries.
However, as consumers are looking for high-quality products, demand for additive-based masterbatches is increasing as they contain antiblock to laser additives to UV stabilizers. Further, in the area of flame retardant equipment for a wide variety of plastic products, a flame retardant masterbatch is used. Owing to this, the market for additive masterbatch is likely to showcase robust growth during the forecast period.
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By end-user, the market is primarily divided into:
· Packaging
· Building & Construction
· Automotive
· Consumer Goods
· Agriculture
· Others
Among these, packaging accounted for a substantial share of the market and is also likely to showcase robust growth during the forecast period. This can be ascribed to the wide use of packaging from the food & beverage industry to pharmaceuticals. Further, increasing demand for packaged food due to convenience and changing lifestyles along with increasing penetration of the e-retail industry is increasing the demand for packaging products, thereby propelling the demand for masterbatch. For instance, according to India Brand Equity Foundation, in 2022, the Indian e-commerce market is predicted to increase by 21.5%, reaching $74.8 billion, and is likely to touch the market size of $350 billion by 2030.
Global Masterbatch Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of the World
Asia-Pacific accounted for a significant share in the global masterbatch market and is expected to maintain its position in the market during the forecast period. The region has a large base of packaging, automotive, consumer goods, e-commerce, pharmaceutical, and agricultural. These industries consume a large number of plastic products, therefore, to cater to the plastic product demand, numerous plastic manufacturers are operating in the region. This, in turn, maintain a strong demand for raw materials which are used for plastic product production including masterbatches.
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· LyondellBasell Industries N.V.
· Avient Corporation
· Ampacet Corporation
· Cabot Corporation
· Plastika Kritis S.A.
· Plastiblends India Limited
· Hubron International
· Tosaf Group
· Penn Color Inc.
· Americhem Inc.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global masterbatch market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global masterbatch market?
· Which factors are influencing the global masterbatch market over the forecast period?
· What are the global challenges, threats, and risks in the global masterbatch market?
· Which factors are propelling and restraining the global masterbatch market?
· What are the demanding global regions of the global masterbatch market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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