The masterbatch market size is estimated to be USD 11.1 billion in 2020 and is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% during the forecast period. Factors such as replacement of metals with plastics in the automotive industry will drive the masterbatch market. The major restraint for the market will be the limiting factors of the masterbatch such more inventory space and longer lead time. However, the growth in emerging economies will act as an opportunity for the masterbatch market.
Based on polymer, the major polymer for masterbatch is PP. PP is a thermoplastic polymer having lower density and higher softening point as compared to PE. PP is used in rigid packaging, which includes caps & closure of PET bottles and thin-walled containers of yogurt. It is also used in automotive, flexible packaging, consumer products, fibers, BOPP film, carpets, and reusable products such as containers, papers, laboratory equipment, furniture, and medical instrument. The increasing consumption of PP in the packaging, textile, and building & construction industries is attributed to its developments in APAC. Therefore, driving the PP polymer based masterbatch.
Get an Exclusive PDF Sample Copy of the Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=168014686
Based on application, the masterbatch market has been segmented into packaging, building & construction, consumer goods, automotive, textile, agriculture and others. 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 modified in various shapes. It also 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.
On the basis of region, Asia Pacific is projected to be the largest market for masterbatch during the forecast period. Asia Pacific is the most promising market for plastics and related industries, including masterbatch. The region is characterized by growing population economic developments. The Asia Pacific market is segmented into China, India, Japan, South Korea, Indonesia, Taiwan, Australia & New Zealand, and the Rest of Asia Pacific (which includes Malaysia, Vietnam, and Thailand). China is the largest masterbatch market in APAC owing to the presence of major automobile manufacturing companies.
The key market players profiled in the 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).
Players in the masterbatch are mainly concentrating on new product launches, merger & acquisition, and expansions to meet the growing demand for masterbatch for various applications. New product launches help companies to strengthen their product portfolio and meet the specific demands of customers.
Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=168014686
The growth of the masterbatch market has been largely influenced by new product launches, expansions, agreements and acquisition that were undertaken between 2016 and 2020.
Clariant AG is one of the major players in the masterbatch market. In order to expand its business, the company is focusing on enhancing its market reach by opening plants to increase the capacity. For instance, in February 2019, Clariant AG has expanded its masterbatch production facility in Maine, Sweden and Singapore. This expansion will help the company to meet the increasing demand from customers. Similarly, In March 2018, Ampacet Corporation started new additive production line in Belgium. This expansion will help the company to improve the overall customer experience.
Companies such as Ampacet Corporation and Tosaf Group have adopted new product launches to enhance their market position. The companies also adopted new product launch as a strategy to expand their product portfolio and market presence. For instance, in March 2019, Ampacet has launched a new product called Blue edge masterbatch, designed for use in recycled PET. Similarly, In August 2018, Tosaf Group had launched new heat screening masterbatches IR7579PC and IR7581PC for polycarbonate and PA roofing.
In March 2017, Clariant AG and SICPA SA (Switzerland) entered into a partnership to introduce a new plastic-based anti-counterfeiting system, plastiward, for the first time in North America. Plastiward is made of polymer compounds and tailored masterbatch.
In October 2018, Cabot Corporation acquired the Chinese carbon black manufacturer NSCC Carbon (Jiangsu) Co. Ltd (China). This acquisition will help the company to expand its production facility in China, and hence will increase the production of masterbatch.
For any Queries Linked to the Report, Ask an Analyst at https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=168014686
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/masterbatches-market-168014686.html